Trafiksol ITS IPO Listing Postponed

Shares of Trafiksol ITS Technologies, which were set to debut on the stock market today, September 17, 2024, on the BSE SME platform, have had their listing postponed.

“The listing of equity shares of Trafiksol ITS Technologies Limited, scheduled for September 17, 2024, has been delayed until certain queries raised by the issuer are resolved. Market participants are advised to take note,” the BSE announced in a post on X (formerly Twitter).

However, the exchange has not provided any specific reason for the delay.

TrafikSol ITS Technologies initial public offering (IPO), valued at around ₹45 crore, was open for subscription from September 10 to September 12, 2024, with a price range set between ₹66-70 per share.

The IPO experienced tremendous demand during its three-day bidding period, garnering 345.65 times subscription. Investors bid for 147.45 crore equity shares, whereas only 42.66 lakh shares were available. The retail category saw a subscription rate of 317.66 times, the Non-Institutional Investor (NII) quota hit 699.40 times, and the Qualified Institutional Buyer (QIB) portion was subscribed 129.22 times.

TrafikSol ITS IPO Details:

TrafikSol ITS IPO involved a fresh issue of 64.1 lakh shares. The company aims to utilize the funds for software purchases, repayment of certain borrowings (either partially or fully), working capital needs, and general corporate purposes.

Retail investors were required to apply for at least 2,000 shares, representing an investment of ₹140,000, while High Net-Worth Individuals (HNIs) had to apply for a minimum of two lots (4,000 shares), amounting to ₹280,000.

Ekadrisht Capital Private Limited served as the book-running lead manager for the IPO, Maashitla Securities Private Limited handled registrar duties, and Ss Corporate Securities was the market maker.

About TrafikSol ITS Technologies Ltd:

Established in 2018, TrafikSol ITS Technologies Limited focuses on intelligent transportation systems (ITS) and automation solutions. The company provides a wide array of services, including software development, consulting, and delivery. Their offerings include both ready-to-use and custom software solutions for various platforms, such as operating systems, business applications, and computer games, with a focus on analyzing client needs to create tailored solutions along with continuous support.

As an EPC (Engineering, Procurement, and Construction) company, TrafikSol specializes in projects related to Advanced Traffic Management Systems (ATMS), Toll Management Systems (TMS), and Tunnel Management Systems.

Financially, TrafikSol has shown strong growth, reporting an 80% increase in revenue and a 153% rise in profit after tax (PAT) for the financial year ending March 31, 2024, compared to the prior year.