Praruh Technologies Set for Flat Debut on Stock Market
Praruh Technologies, an ICT system integration firm, is set to list on October 1 with an IPO price of Rs 63 per share. The IPO, which raised Rs 23.50 crore, was subscribed 1.2 times overall. Non-Institutional Investors showed the highest interest at 2.10 times subscription. The grey market premium stands at 0%, suggesting a potential flat opening. The company reported a revenue of Rs 62.60 crore and a profit after tax of Rs 6.80 crore, with a PAT margin of nearly 11%. Praruh raised Rs 6.70 crore from anchor investors before the IPO.
*this image is generated using AI for illustrative purposes only.
Praruh Technologies, an ICT system integration and digital transformation solutions firm, is poised for its stock market debut on October 1. The company's initial public offering (IPO) shows signs of a subdued listing, with the grey market premium indicating a potential flat opening.
IPO Details
- Issue Price: Rs 63 per share
- IPO Size: Rs 23.50 crore
- Fresh Issue: 37.3 lakh shares
- Subscription Period: September 24-26
Subscription Status
The IPO saw an overall subscription of 1.2 times during the bidding period. The breakdown of subscription rates across investor categories is as follows:
| Investor Category | Subscription Rate |
|---|---|
| Non-Institutional Investors | 2.10 times |
| Qualified Institutional Buyers | 1.01 times |
| Retail Investors | 0.90 times |
Grey Market Premium and Listing Expectations
The grey market premium for Praruh Technologies stands at 0%, suggesting that the stock may list around its issue price of Rs 63 per share. This indicates a potentially flat debut for the company on the stock exchanges.
Company Overview
Praruh Technologies specializes in ICT system integration and digital transformation solutions. The company employs 61 people.
Financial Performance
Praruh Technologies reported:
- Revenue: Rs 62.60 crore (2% year-on-year growth)
- Profit After Tax (PAT): Rs 6.80 crore (4% year-on-year growth)
- PAT Margin: Nearly 11%
Anchor Investment
The company successfully raised Rs 6.70 crore from anchor investors prior to the IPO.
As Praruh Technologies prepares for its market debut, investors will be closely watching its performance given the flat grey market premium and the mixed subscription rates across different investor categories.
20
