Ahmedabad-based Tridhya Tech is set to launch an SME public issue, aiming to raise up to INR 26.41 crore. The issue will open on June 30 and close on July 5, with a price band of INR 35-42 per share. The company plans to use the proceeds for loan repayment and general corporate purposes. Following the IPO, Tridhya Tech s shares will be listed on the SME Emerge Platform of the National Stock Exchange.
Common Mistakes with IPO: The most common mistake an investors make that can be a trap and hinder your financial success is following the herd mentality
Tridhya Tech s IPO Opens on 30th June 2023 webindia123.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from webindia123.com Daily Mail and Mail on Sunday newspapers.
Tridhya Tech s IPO, offering up to 62.8 lakh equity shares, will be open for public subscription from June 30 to July 5. The shares are priced at Rs 35-42 apiece with minimum bids of 3,000 shares per lot. Tridhya Tech provides software development services, including turnkey consultancy, to various industries like e-commerce and real estate. The net proceeds will go towards repaying secured and unsecured loans and other corporate expenses. Around half of the issue is reserved for qualified institutional buyers. The company s shares will likely get listed on the NSE Emerge platform on July 13.
The selling pressure may continue for few more sessions amid consolidation, but large correction is unlikely due to favourable domestic economic conditions and fall in global commodity prices, experts said