The shares of Alphalogic Techsys Ltd gained 13.6 percent of Rs 50 apiece in two trading sessions. The company has a market capitalization of Rs 175 crores. Such a response in the stock price was noticed after the company announced IPO dates for its subsidiary.
According to the exchange filing, Company announced the initial public offer (IPO) of its subsidiary Alphalogic Industries Limited on July 3, the company will be issuing 13,41,600 equity shares of the face value of Rs 10 each for cash at a price of Rs 96 per share.
The company planned to raise a total of Rs 12.88 crore through the IPO, and it has reserved 1,33,200 equity shares worth Rs 1.28 crore for Alphalogic Techsys Limited investors to subscribe to. In addition, the market maker set aside 67,200 shares for issuing subscriptions.
The offering will unlock value for Alphalogic Techsy’s present shareholders, thus being beneficial to shareholders. This has resulted in an upper circuit of stock in the last two trading sessions.
On Tuesday, Alphalogic Techsys shares closed at Rs 50 apiece, up 4.36 percent from the previous closing price.
Alphalogic Techsys Limited is engaged in the development of software for the healthcare, E-commerce, Fintech industry. Further, The Company designs and creates mobile applications, web development, and business intelligence services.
The stock has risen 89 percent in the previous three months, from Rs 26.41 to present levels, and has returned 98 percent in the last year.
As per consolidated financials, On a year-over-year basis, revenue climbed by 100 percent from Rs 11 crore in FY 21-22 to Rs 22 crore in FY 22-23. During the same time period, the Net Profit climbed by 100 percent, from Rs 2 crore to Rs 4 crore.
As per the shareholding pattern, promoters of the company hold a 73 percent stake and retail investors hold a 27 percent stake in the company for FY 22-23.
Written by Omkar C
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