The counter hit a high of Rs 117.70 and a low of Rs 112.10. About 4.94 lakh shares of the company changed hands at the counter.
S A Tech Software India's IPO was subscribed 403.80 times. The issue opened for bidding on 26 July 2024 and it closed on 30 July 2024. The price band of the IPO was set at Rs 56 to Rs 59 per share.
The IPO comprised fresh issue of 39,00,000 equity shares. The company intends to utilize the net proceeds to funding working capital requirement, to funding for prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company and general corporate purpose.
Ahead of the IPO, S A Tech Software India on 25 July 2024, raised Rs 6.38 crore from anchor investors. The board allotted 10.82 lakh shares at Rs 59 per share to 6 anchor investors.
S A Tech Software India is an Indian IT consulting subsidiary of a US-based company. They specialize in providing IT services and digital solutions to businesses of all sizes. Their offerings include application development, mobile app development, cloud services, AI, machine learning, and data analytics. With over 300 employees, they support clients in their digital transformation journeys.
The company recorded revenue from operations of Rs 23.88 crore and net profit of Rs 2.48 crore for the period as on 30 June 2024.