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Euphoria Infotech India lists at a 90% premium over situation worth at Rs 190 Categorical Occasions

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The inventory of Euphoria Infotech India on Tuesday was listed at a premium of 90% over the problem worth of Rs 100, making a robust debut at Rs 190 on the BSE. The inventory went on to hit the day’s excessive of Rs 199.50.

The preliminary public providing (IPO) of Euphoria Infotech India was subscribed 364.71 occasions on the BSE. The retail portion was subscribed 426.65 occasions whereas the non-institutional traders’ quota was booked 237.99 occasions. The portion for certified institutional patrons (QIBs) was subscribed 413.26 occasions.

It was totally a contemporary situation the place the corporate provided 960,000 shares with a minimal bid amount of 1,200 shares. The utmost bid amount for Certified Institutional Consumers (QIBs) and Non-Institutional Traders (NIIs) was 912,000 shares. The corporate fastened the worth band at Rs 96-100 per fairness share with the face worth of Rs 10 per share.

Integrated in Could 2001, Euphoria Infotech (India) is a full-stack IT and ITes answer supplier based mostly out at Kolkata, West Bengal and presents companies in areas associated to citizen-centric utility, Enterprise Useful resource Planning (ERP), E-Commerce, Software programming interface (API), Web of Issues (IoT), cloud-based instruments and utility, knowledge administration amongst different issues. The founder and Managing Director of the corporate is Shamba Bhanja.

As per Restated Monetary Statements for the fiscal 2023, 2022 and 2021, our complete revenues had been Rs 7.37 crore, Rs 4.93 crore and Rs 5.56 crore, respectively. The corporate’s Revenue after Tax for the respective durations stood at Rs 1.29 crore, Rs 21.71 lakhs and 23.91 lakhs, respectively. For the half yr ended September 30, 2023, its complete revenues had been at Rs 3.65 crore and its revenue after Tax was Rs 60.49 lakhs.

The corporate intends to utilise the web proceeds from the IPO in the direction of working capital necessities and common company functions.

Khandwala Securities was the book-running lead supervisor (BRLM) whereas Mas Companies Restricted was the registrar of the problem. The sponsor financial institution was Axis Financial institution. (Now you can subscribe to our ETMarkets WhatsApp channel)(Disclaimer: Suggestions, ideas, views and opinions given by the specialists are their very own. These don’t signify the views of Financial Occasions)

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