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.

Tridhya Tech Ltd IPO Subscription Status:

The SME initial public offering (IPO) of Tridhya Tech Ltd was subscribed 70.79 times on Day 4. The issue received positive response from retail investors, who’s portion set was subscribed 64.19 times, followed by non-institutional bidders (NII) portion set was subscribed 181.68 times. While the qualified institutional buyer portion received 15.62 times subscription, according to data on chittorgarh.com.

The company has received bids for 32,15,10,000 shares against 6,288,000 shares on offer, according to data on chittorgarh.com at 16:07 IST.

On day 1, the issue was subscribed 29%, where retail portion was booked 48% and NII portion saw 20% subscription, and on day 2 the SME IPO was subscribed 1.39 times. 

Tridhya Tech IPO: GMP, subscription status on Day 3 and other issue details you need to know

Tridhya Tech Ltd IPO GMP details:

The Tridhya Tech IPO GMP or grey market premium is +14. This indicates that the shares of Tridhya Tech were trading at a premium of ₹14 in the grey market on Wednesday, 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 ₹56 apiece, which is 33.33% higher than the IPO price.

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

Updated: 05 Jul 2023, 04:13 PM IST