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Business News/ Markets / Stock Markets/  Alphalogic Industries shares make a flat debut on BSE SME, lists at 96
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Alphalogic Industries shares make a flat debut on BSE SME, lists at ₹96

Alphalogic Industries Ltd shares were listed flat on the BSE SME exchange at ₹96 per share, same as the IPO's issue price. The company's IPO raised ₹12.88 crore and will be used for working capital requirements and general corporate purposes.

Alphalogic Industries IPO lists at BSE SME on Friday.Premium
Alphalogic Industries IPO lists at BSE SME on Friday.

Alphalogic Industries Ltd shares were listed flat on the BSE SME exchange Friday. The stock was listed at 96 per share same as the IPO's issue price.

Alphalogic Industries IPO opened on Monday, July 3 and closed on Thursday, July 6. The company's IPO is entirely a fresh equity issue of up to 13.41 lakh equity shares, aggregating up to 12.88 crore.

The company proposes to utilise the net proceeds from the issue towards funding working capital requirements, issue expenses and general corporate purposes.

Finshore Management Services is the lead manager for the Alphalogic Industries IPO, while Cameo Corporate Services is the IPO registrar.

The company has reserved 50% shares for retail investors and the rest 50% for other investors.

The SME IPO of Alphalogic Industries Ltd was subscribed 5.34 times on Day 4. The issue received positive response from retail investors, who's portion set was subscribed 5.19 times, followed by non-institutional bidders (NII) portion set was subscribed 4.24 times, according to data on chittorgarh.com.

On day 1, the issue was subscribed 49%, where retail portion was booked 25% and NII portion saw 67% subscription, and on day 2 the issue was subscribed 1.20 times, and on day 3 the IPO was subscribed 1.91 times.

The promoter of the company is M/S. Alphalogic Techsys Ltd and the promoter shareholding will come down to 73.67% from 100% after the IPO.

The company’s net profit for the year ending March 2023 was 2.19 crore and total revenue was 18.23 crore.

M/s. Alphalogic Techsys Ltd.'s subsidiary Alphalogic Industries. Industrial and institutional storage systems are the focus of the company's design, production, supply, and installation activities.

It makes Cantilever Racks, Lockers, Heavy Duty Storage Racks, Metal Pallets & Crates, Library Stacks, Mezzanine Floors, Book Cases, Book Trolleys, Book Supports and other storage solutions for compactors.

The company has supplied its goods to businesses in a variety of sectors, including the automotive industry, e-commerce firms, logistics providers, engineering firms, the food industry, pharmaceutical firms, academic institutions, and IT firms.

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Published: 14 Jul 2023, 10:14 AM IST
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