Sattrix Information Security IPO Debuts with 23.97% Premium

Smart Listing for Sattrix Information Security IPO in BSE-SME segment

Sattrix Information Security IPO had a smart listing on 12th June 2024, listing at ₹150.00 per share, a premium of 23.97% over the issue price of ₹121 per share in the IPO. Here is the pre-open price discovery for the Sattrix IPO on the BSE.

PRE-OPEN ORDER COLLECTION SUMMARY

Data Source: BSE

Sattrix Information Security IPO was a fixed price IPO with the IPO price fixed at ₹121 per share (comprising of ₹10 face value per share and ₹111 premium per share. The IPO of Sattrix Information Security showed strong subscription response at over 70X and there was no anchor allocation in the IPO as there was no dedicated QIB quota. On 12th June 2024, the stock of Sattrix Information Security listed at ₹150.00 per share, a premium of 23.97% over the IPO price of ₹121.00 per share. For the day, being in the 5% circuit filter category, the upper circuit price has been set at ₹157.50 and the lower circuit price has been set at ₹142.50. 

As of 10.14 am, the volumes were 9.52 lakh shares while the turnover (value) was at ₹1,409 lakhs. The opening market cap of the stock stands at ₹97.61 crore and free float market cap of ₹25.38. The stock will be traded in the MT segment of the BSE (mandatory trade to trade for SME-IPOs), which is on the T+1 settlement cycle. At 10.14 am, the stock is trading at ₹143.55, which is -4.30% below the listing price of ₹150.00 per share. The stock of Sattrix Information Security has a face value if ₹10 per share and the market lot comprises of 1,000 shares. The stock trades under the BSE Code (544189) and the ISIN code for demat credits will be (INE0QUV01010).

About Sattrix Information Security IPO

The stock of Sattrix Information Security has a face value of ₹10 per share and it is a fixed price issue. The price for the fixed price issue is set at ₹121 per share. Being a fixed price issue, the question of price discovery does not arise. The IPO of Sattrix Information Security has only a fresh issue component and no offer for sale (OFS) portion. While the fresh issue portion is EPS dilutive and equity dilutive, but OFS is just a transfer of ownership and  hence it is not EPS or equity dilutive. As part of the fresh issue portion of the IPO, Sattrix Information Security will issue a total of 18,00,000 shares (18.00 lakh shares), which at the fixed IPO price of ₹121 per share aggregates to fresh fund raising of ₹21.78 crore. Since there is no offer for sale (OFS) portion, the fresh issue size will also double up as the overall IPO size. Therefore, the overall IPO size will also comprise of the issue of 18,00,000 shares (18.00 lakh shares) which at the fixed IPO price of ₹121 per share will aggregate to overall IPO size of ₹21.78 crore.

Read more about Sattrix Information Security IPO

Like every SME IPO, this issue also has a market making portion with a market maker inventory allocation of 92,000 shares. Sunflower Broking Private Ltd will be the market maker to the issue. The market maker provides two-way quotes to ensure liquidity on the counter and low basis costs, post listing. The company has been promoted by Sachin Kishorbhai Gajjar and Ronak Sachin Gajjar. The promoter holding in the company currently stands at 100.00%. However, post the fresh issue of shares in the IPO, the promoter equity holding share will get diluted to 73.53%. The fresh issue funds will be used by the company towards capex for office fixtures and fittings as well as for installation of IT equipment. Part of the funds will also be used for business expansion cost, including new product and technology development. ISK Advisors Private Ltd will be the lead manager to the issue, and Bigshare Services Private Ltd will be the registrar to the issue. The market maker for the issue is Sunflower Broking Private Ltd. The IPO of Sattrix Information Security will be listed on the SME IPO segment of the BSE.