Takyon Networks Lists on BSE SME at Issue Price Despite Strong IPO Subscription
Takyon Networks, an IT infrastructure provider, debuted on the BSE SME platform at its issue price of Rs 54.00, despite strong IPO subscription. The Rs 20.48 crore IPO was oversubscribed 21.77 times across investor categories. The company, established in 2009, reported a profit of Rs 6.96 crore on revenue of Rs 103.48 crore. IPO proceeds will be used for working capital, loan repayment, and general corporate purposes.
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Takyon Networks, an IT infrastructure and networking solutions provider, made its debut on the BSE SME platform today. Despite a strong subscription during its Initial Public Offering (IPO), the shares listed at the issue price of Rs 54.00, with no grey market premium observed.
IPO Performance
The Rs 20.48 crore IPO of Takyon Networks witnessed robust demand across investor categories:
- Overall subscription: 21.77 times
- Non-institutional investors: 37.00 times
- Retail investors: 19.99 times
- Qualified Institutional Buyers (QIBs): 13.29 times
Company Overview
Established in 2009, Takyon Networks specializes in providing IT infrastructure and networking solutions across various sectors, including:
- Education
- Government
- Defense
- Healthcare
- Telecom
- Hospitality
The company is headquartered in Noida and boasts a workforce of over 500 employees.
Financial Performance
Takyon Networks reported:
- Profit: Rs 6.96 crore
- Revenue: Rs 103.48 crore
IPO Proceeds Allocation
The funds raised through the IPO will be utilized as follows:
| Purpose | Amount (in Rs crore) |
|---|---|
| Working capital needs | 10.00 |
| Loan repayment | 3.00 |
| General corporate purposes | Remaining amount |
Despite the strong subscription numbers, the zero grey market premium and listing at the issue price suggest a cautious market sentiment towards the stock. Investors and market observers will be closely watching the stock's performance in the coming days to gauge its potential in the SME segment.
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