Infollion Research Services IPO: Issue details, subscription status, other key things to know about SME issue
1 min read 29 May 2023, 02:49 PM ISTThe total issue size of the IPO is 26,16,000 equity shares of ₹10 each. The IPO consists fresh issue size of 22,24,000 equity shares and offer for sale (OFS) of 3,92,000 equity shares
PremiumThe initial public offer (IPO) of Infollion Research Services will kick off for subscription on Monday, May 29, and investors can bid for the offer till Wednesday. The price band for the issue has been fixed at ₹80-82 apiece. The company is likely to get listed on June 8, 2023.
The total issue size of the IPO is 26,16,000 equity shares of ₹10 each. The IPO consists fresh issue size of 22,24,000 equity shares and offer for sale (OFS) of 3,92,000 equity shares.
The company is aiming to raise up to ₹21.45 crore through this IPO, with shares set to be listed on the NSE EMERGE platform.
Infollion Research Services SME IPO is coming with a fixed share allocation of 12,08,000 shares for Qualified Institutional Buyers (QIB), 4,04,800 Equity Shares for Non-Institutional Investors (NII), 8,70,400 Equity Shares for Retail Individual Investors (RII) and 1,32,800 Equity Shares for market maker.
The net proceeds from the IPO will be utilized to fund expansion of the current service line in the US and Western European region, adding new categories of freelancer and technology development. The issue closes on May 31st, 2023.
The company has a fixed lot size of 1,600 equity shares with each lot costing ₹1,31,200. Retail investors can bid for only a lot or 1,600 equity shares, while HNI investors can bid for a minimum of two lots or 3,200 equity shares costing ₹2,62,400.
The Lead Manager to the Issue is Holani Consultants Private Limited and The Registrar to the Issue is Link Intime India Private Limited.
Gaurav Munjal - Promoter & Managing Director of Infollion Research Services Limited said,
"After emerging as the leading home-grown expert network, the IPO is a significant milestone in our journey towards global expansion. Our aim is to provide quality services leveraging our talented team while pursuing international expansion. The funds raised through the IPO will be instrumental in fueling our growth and enhancing our presence in the US and Western European markets.
With these resources, we can invest in advanced technology, infrastructure, and talent acquisition, enabling us to deliver even higher levels of service excellence. By expanding into these key regions, we seek to tap into new client bases, establish strategic partnerships, and explore untapped market opportunities."
