The software development company intends to raise as much capital as ₹26.41 crore through this offering. Lead manager of the issue is Interactive Financial Services.

₹1.05 to ₹1.26 lakh is the required minimum for each application. In the IPO, the quotas for retail investors and high net worth individuals are maintained at 35% and 15% of the issue, respectively, while the QIB quota is maintained at a maximum of 50%. 3,15,000 equity shares are held as market maker reservations.

Pre-issue promoter group shareholding is 80.8%; post-issue shareholding will be 58.98%.

According to the reports, the company intends to use the proceeds of the public offering to pay down secured and unsecured loans as well as for general business needs. The company’s shares will be listed on the National Stock Exchange’s SME Emerge Platform after the IPO.

Tridhya Tech Ltd, which was founded in 2018, is a full-service software development firm that specialises in eCommerce, online, and mobile application development as well as offering end-to-end technological solutions.

The SME initial public offering (IPO) of Tridhya Tech Ltd was subscribed 4.07 times on Day 3. The issue received positive response from retail investors, who’s portion set was subscribed 6.03 times, followed by non-institutional bidders (NII) portion set was subscribed 5.21 times. While the qualified institutional buyer portion received 55% subscription, according to data on chittorgarh.com.

The company has received bids for 1,84,89,000 shares against 6,288,000 shares on offer,  according to data on chittorgarh.com.

On Day 1, the issue was subscribed 29%, where retail portion was booked 48% and NII portion saw 20% subscription.

Tridhya Tech IPO: GMP, subscription status on Day 2 and other issue details you need to know

Tridhya Tech Ltd IPO GMP details:

The Tridhya Tech IPO GMP or grey market premium is +13. This indicates that the shares of Tridhya Tech were trading at a premium of ₹13 in the grey market on Tuesday, according to topsharebrokers.com.

Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Tridhya Tech share is ₹55 apiece, which is 30.95% higher than the IPO price.

‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.

Updated: 04 Jul 2023, 04:42 PM IST