Start-up IPO Alpahlogic Techsys subscribed 64% On First day of bidding

The initial public offer (IPO) of boutique software consulting firm Alphalogic Techsys was subscribed 64 per cent on the first day of the bidding process.

The IPO with an issue size of Rs 6.18 crore, received bids for 4,70,400 Shares against the total issue size of 7,36,000 shares as per the BSE data.

The category reserved for Non-Institutional Investors (NIIs) which include HNI’s and Corporates subscribed 125%, whereas retail individual investor category got subscribed 11%.

The company has fixed a price of Rs 84 per share. The issue will close on Wednesday. Alphalogic’s IPO comprises of a fresh issue aggregating up to Rs 6.18 crore and an offer for sale of up to 7,36,000 equity shares.

Finshore Management Services Limited is the book-running lead managers to the offer.