The Sigma Solve Ltd. IPO is one among the plethora of latest IPOs that are about to hit the market in India. A relatively new entrant in the IT sector space, Sigma Solve Ltd. has recently filed the final Red Herring Prospectus (RHP) with the Securities and Exchange Board of India (SEBI) in connection with listing its shares in the secondary market. That said, here’s everything that you need to know about the new IPO from Sigma Solve Ltd.
Apart from Sigma Solve Ltd. IPO the number of new upcoming IPO’s are slated to open in coming weeks
About the company
Based in Ahmedabad, Sigma Solve Ltd. was incorporated in the year 2010. Being an IT services provider, the company is primarily involved in providing enterprise software solutions. Some of the services that the company offers include digital marketing, e-commerce development, web development, CRM and CMS development, QA automation, and cloud computing, among others.
The company enjoys a fair amount of global presence with offices in three different locations that include Florida, Atlanta, and Australia. The revenue generated by Sigma Solve Ltd. comes through its subsidiary company ‘Sigma Solve Inc,’ to which it exports its services. Over the past three financial years, the company has been posting profits consistently with both the assets and revenues witnessing an exceptionally strong growth year over year.
Sigma Solve IPO details
Now that you’re aware of the company, let’s take a look at some of the important Sigma Solve IPO details such as the Sigma Solve IPO date and the Sigma Solve Ltd share price band.
Sigma Solve IPO date
The IPO from Sigma Solve Ltd. is open from September 29, 2020. The issue would be open for around 11 days, with October 09, 2020 being the day of the closure of this new IPO.
Sigma Solve IPO issue size
The latest IPO from Sigma Solve Ltd. involves the issue of around 11,01,000 equity shares. The proceeds from this issue are likely to net the company around Rs. 4.95 crores. Out of the total issue size, around 57,000 equity shares are reserved for the market maker, which leaves out just around 10,44,000 equity shares for the general public.
Sigma Solve IPO share price
The Sigma Solve Ltd share price band has been set at Rs. 45 per equity share. Considering the fact that the face value of the company’s shares are just Rs. 10 per share, the company would get around Rs. 35 per equity share as premium.
Sigma Solve IPO listing
The Sigma Solve Ltd. IPO is proposed to be listed on the EMERGE Platform of the National Stock Exchange (NSE). The company has also received an in-principle approval from the stock exchange for listing the issued shares.
Sigma Solve IPO objectives
The net proceeds from the Sigma Solve Ltd. IPO are proposed to be utilized for the following objectives.
- For investing in its subsidiaries
- For acquisitions and other strategic purposes
- For general corporate purposes
- For meeting expenses related to this IPO issue
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