Sattrix Information Security IPO to open on June 5; price band set at ₹121 apiece

Sattrix Information Security IPO will open for subscription on Wednesday, June 5, and will close on Friday, June 7. The issue's price band has been fixed at ₹121 apiece. The IPO lot size for Sattrix Information is 1,000 shares.

By buying 1,000 shares at ₹121 apiece, retail investors can invest a minimum of ₹1,21,000 and a maximum of ₹1,21,000. Non-institutional investors (NIIs) and high net worth individuals (HNIs) must invest a minimum of 2,000 shares, and in multiples of that number, up to ₹2,42,000, with no maximum investment amount. Retail and high-net-worth investors can now join Sattrix on its growth path as a result of its SME IPO.

According to the Red Herring Prospectus (RHP), Sattrix Information Security Limited was founded with the goal of providing end-to-end cybersecurity services to businesses in the Middle East (UAE), India, and the United States. Our mission is to build customer-centric cyber security solutions. With ten years of expertise, the business has made a name for itself as a reliable resource for a wide range of cyber security solutions.

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The company assists organisations in safeguarding their data from illegal access and security concerns. The company's data security solutions are designed to make corporate operations safe and efficient by removing data privacy threats.

Based on the needs of the customer, the business designs and develops on-premises and cloud-based data security solutions. The company's goal is to produce agile cyber security solutions that aid in continuous update and adapt to the changing needs of the customer. It does this by using the finest technologies currently available.

As per the RHP, the company's listed peers are Systango Technologies Ltd (with a P/E of 19.79), Dev Information Technology Ltd (with a P/E  of 29.41), and TAC Infosec Ltd (with a P/E of 71.70).

Between March 31, 2022, and March 31, 2023, Sattrix Information Security Limited's profit after tax (PAT) climbed by 86.86% while its revenue increased by 60.76%.

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Sattrix Information IPO details 

Sattrix IPO, which is worth about ₹21.78 crore, consists of a fresh issue of 1,800,000 equity shares with a face value of ₹10. There is no offer-for-sale component.

The objects of the Net Issue is to raise funds for; capital expenditure: (a) To cover the costs of air conditioning, furniture, and fittings for a new office in Ahmedabad (a) To acquire and install networking (LAN), computer hardware, servers, SAN storage, CCTV cameras, video conferencing equipment, and other equipment; The costs associated with business expansion are as follows: (a) development of new products and technology; (b) other business expansion costs; (c) additional working capital requirement; and (d) general corporate purpose.

The registrar for the Sattrix IPO is Bigshare Services Pvt Ltd, while the book running lead manager is Isk Advisors Pvt Ltd. Sunflower Broking is the market maker for the Sattrix IPO.

Also Read: Upcoming IPOs in June: Kronox Lab, Magenta Lifecare, Sattrix InfoSec to hit market next week, 6 listings to watch out

Sattrix Information Security IPO GMP today

Sattrix IPO GMP today or grey market premium was ₹0, which meant shares were trading at their issue price of ₹121 with no premium or discount in the grey market according to investorgain.com

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

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