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Business News/ Markets / Ipo/  3C IT Solutions IPO price band set at 52 per share; SME IPO to open on June 4
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3C IT Solutions IPO price band set at ₹52 per share; SME IPO to open on June 4

3C IT Solutions IPO is a combination of fresh issue of 17 lakh equity shares aggregating to ₹8.84 crore and an offer-for-sale (OFS) component of 5 lakh shares aggregating to ₹2.60 crore. M/s. Gold Circle Venture Partners LLP is the selling shareholder in the 3C IT Solutions IPO OFS.

3C IT Solutions IPO price band has been set at ₹52 per share. (Photo: Company Website)Premium
3C IT Solutions IPO price band has been set at 52 per share. (Photo: Company Website)

3C IT Solutions IPO: IT systems integration company 3C IT Solutions & Telecoms (India) Ltd is set to launch its initial public offering (IPO) on June 4 to raise up to 11.44 crore from the primary markets. 3C IT Solutions IPO is an SME IPO which will close on June 7.

The company offers various IT products and services under 3 segments i.e. Infrastructure solutions, Digital business solutions, and Consulting solutions.

3C IT Solutions IPO price band has been set at 52 per share. The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is 104,000. 

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The 11.44 crore worth 3C IT Solutions IPO is a combination of fresh issue of 17 lakh equity shares aggregating to 8.84 crore and an offer-for-sale (OFS) component of 5 lakh shares aggregating to 2.60 crore.

M/s. Gold Circle Venture Partners LLP is the selling shareholder in the 3C IT Solutions IPO OFS.

The company proposes to utilize the net issue proceeds to fund working capital requirements repay or prepay certain borrowings and general corporate purposes.

Also Read: Upcoming IPOs: Three new public issues and six new listings scheduled for this week; check full list here

The IPO allotment is expected to be finalized on June 10, while the company will credit the shares to the demat accounts of eligible investors on June 11. The refunds will be initiated to unsuccessful bidders on the same day.

3C IT Solutions IPO listing date is June 12 and the equity shares of the company will be listed on BSE SME.

Kreo Capital Pvt Ltd is the book running lead manager of the 3C IT IPO, while Skyline Financial Services Pvt Ltd is the IPO registrar.

Ranjit Kulladhaja Mayengbam and Gangarani Devi Mayengbam are the promoters of 3C IT Solutions & Telecoms (India) Ltd. After the IPO, the promoter shareholding will come down to 51.66% from 72% at present.

Also Read: India set to record bumper IPO deals as 2024 Lok Sabha election uncertainty ends

As per the RHP, the company’s net profit for the nine months ended December 2023 was 50.52 lakh upon revenue of 23.55 crore. In FY23, the company’s net profit rose to 1.13 crore from 1.10 crore in FY22, while its revenue in FY23 decreased to 62.93 crore from 66.94 crore in FY22.

3C IT Solutions IPO GMP

3C IT Solutions IPO GMP today, or grey market premium today, is 0, as per market observers. This indicates that the equity shares of 3C IT Solutions & Telecom are not trading in the grey market so far.

Read all IPO-news here

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Published: 03 Jun 2024, 12:26 PM IST
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