Along with well-established companies, Small and Medium-sized Enterprises (SMEs) are also riding the latest IPO wave. A host of SMEs have come forward for listing their shares in the public domain. One among them is AAA Technologies Ltd., a Mumbai based IT services provider. Keep reading to know more about the upcoming IPO from AAA Technologies Ltd.
About the company
AAA Technologies Ltd. has been in the IT sector since the year 2000. The company is well known in the information and cyber security space. Its product portfolio is vast and diverse, and includes services such as IT assurance and compliance, IT auditing, information systems audit, cyber security, and IT governance, among others.
AAA Technologies Ltd. serves a wide range of clients that are spread across multiple sectors and industries. Some of the industries for which the company offers its services include financial institutions, healthcare, insurance, stock broking, and manufacturing. With a net profit of almost 3.69 crores as on March 31, 2020, the company possesses strong fundamentals as well.
AAA Technologies IPO details
Now that you’re acquainted with the company, let’s take a look at some of the important details of the AAA Technologies Ltd. IPO including the AAA Technologies IPO date and the AAA Technologies Ltd share price.
AAA Technologies IPO date
The date of opening of the AAA Technologies Ltd. IPO issue is September 30, 2020. This latest IPO from the company will stay open for around 6 days, with October 05, 2020 being the last date of the offer.
AAA Technologies IPO issue size
The issue size of the upcoming IPO from AAA Technologies Ltd. amounts to around 2,436,000 equity shares, whose value aggregates to around Rs. 10.23 crores. The entire issue of the company would be a fresh issue of shares with no Offer for Sale (OFS) component involved.
AAA Technologies IPO share price
The AAA Technologies Ltd share price has been set at around Rs. 42 per share. The face value of the equity shares of the company is Rs. 10 per share, which effectively means that the offer price of this new IPO would carry a premium of Rs. 32 per equity share.
AAA Technologies IPO listing
This new IPO from AAA Technologies Ltd. would be listed on the National Stock Exchange (NSE) under the EMERGE platform. As a matter of fact, the company has also received the necessary approval from the concerned stock exchange.
AAA Technologies IPO objectives
The net proceeds from the fresh issue of shares from the AAA Technologies Ltd. IPO are proposed to be used by the company for the following objectives.
- For development and expansion of the entity’s business operations
- For working capital requirements and security deposits with financial institutions
- For meeting expenses incurred in connection with the IPO issue
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