Alphalogic Techsys Ltd. debuts with 1.19% discount at Rs 83.00
05/09/2019 20:10
Alphalogic Techsys Ltd. makes a weak debut on the bourses with scrip got listed at Rs 83.00 on the Bombay Stock Exchange, a 1.19 per cent discount to its issue price of Rs 84.00.

The company, which raised 0.08 Cr from initial public offering, was subscribed 1.07 times, receiving bids for 8.35 lakhs shares against the total issue size of 7.80 lakhs shares.

The company, listed under TS Group Securities post its IPO, opened for subscription from Aug 26 to Aug 28.

Following a weak opening, the scrip touched an intraday high of Rs 84.40 and a low of Rs 83.00, before closing the session up by 0.41 per cent to its listing price at Rs 84.35 on the BSE.

The company anticipates using the proceeds of the issue for A To meet the working capital requirements of the company,B To meet the Issue Expenses,C General Corporate Purposes.

Finshore Management Services Ltd. as lead managers & Cameo Corporate Services Ltd. is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 36,644.42, down 80.32 points, or 0.21 per cent.