Systango Technologies IPO subscription for the public will open from March 2. The subscription window will close on March 6. The company has fixed the price band at Rs 85 – Rs 89 at a face value of Rs 10 for the issue of up to 38,68,800 equity shares.
The company has reserved 1,96,800 equity shares for market makers and 36,72,000 equity shares for a net issue to the public. According to the terms of the offer, qualified institutional buyers (QIBs) are entitled to 50 per cent of the net offer, HNIs and NIIs to 15 per cent and retail investors to the remaining 35 per cent.
The Systango Technologies IPO allotment status will be made public on March 10. The shares will list on March 15. The IPO comes with a bid lot of 1600.
The company will use funds for acquisitions and investment in subsidiaries and to meet working capital requirements.
Systango Technologies IPO is managed by Hem Securities. Bigshare Services is the registrar of the issue.
The company is in the business of providing software solutions that allow businesses to design, implement and manage their own customised digital platforms, including Web2, Web3, and mobile applications.
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