Tridhya Tech's IPO Opens on 30th June 2023

PNN

Mumbai (Maharashtra) [India], June 28: Tridhya Tech Limited, a full-service software development and technology company with strong capabilities in digital experience solutions has announced its plans to go public with an Initial Public Offering (IPO) on June 30th, 2023. The company is aiming to raise Rs 26.41 crore through this IPO, with shares set to be listed on the NSE EMERGE platform.

The fresh issue size is 62,88,000 equity shares of Rs 10 each.

Equity Share Allocation

* Qualified Institutional Buyers (QIB) - not more than 29,85,000 equity shares

* Non-Institutional Investors (NII) - not less than 4,50,000 equity shares

* Retail Individual Investors (RII) - not less than 25,38,000 equity shares

* Market Maker - 3,15,000 equity shares

The net proceeds from the IPO will be utilized to repay secured and unsecured debt and general corporate purpose. The issue closes on July 5th, 2023.

The Lead Manager to the Issue is Interactive Financial Services Limited and The Registrar to the Issue is Link Intime India Private Limited.

Ramesh Marand, Director & CEO of, Tridhya Tech Limited said,'' We pursuing a sophisticated growth strategy to expand its global presence and achieve its vision for 2027. This strategy involves a combination of organic growth and strategic acquisitions. By leveraging the funding from the initial public offering (IPO), we aim to repay debts and fortify our balance sheet for future growth.

The company's focus on acquiring synergistic businesses that complement its existing operations will enhance its capabilities, broaden its customer base, and access new markets. Additionally, we plan to invest in expanding our capabilities through research and development, innovation, and talent acquisition. By establishing a global delivery presence in different regions, we aim to tap into diverse markets and provide localized services to clients, ensuring sustained growth and success"

Mayur Parikh, Director, Interactive Financial Services Limited, lead manager to the issue, said, "We believe that this IPO offering will provide the company with the required growth capital and help in achieve it's long-term Vision."

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