Infollion Research Services’ IPO Opens on 29th May 2023
Mumbai (Maharashtra) [India], May 26: Infollion Research Services Limited, a leading company operating in the B2B Human Cloud segment catering to on-demand contingent hiring of subject matter experts, has announced its plans to go public with an Initial Public Offering (IPO) on May 29th, 2023. The company is aiming to raise up to ₹ 21.45 crore through this IPO, […]
Mumbai (Maharashtra) [India], May 26: Infollion Research Services Limited, a leading company operating in the B2B Human Cloud segment catering to on-demand contingent hiring of subject matter experts, has announced its plans to go public with an Initial Public Offering (IPO) on May 29th, 2023. The company is aiming to raise up to ₹ 21.45 crore through this IPO, with shares set to be listed on the NSE EMERGE platform.
- Issue Size – 26,16,000 equity shares of ₹ 10 each
- Fresh Issue Size – 22,24,000 equity shares of ₹ 10 each
- Offer for Sale – 3,92,000 equity shares of Rs 10 each
- Issue Size – ₹ 20.93 crore – ₹ 21.45 crore
- Price Band – ₹ 80 – ₹ 82
- Market Lot Size – 1,600 Equity Shares
Equity Share Allocation
- Qualified Institutional Buyers (QIB) – 12,08,000 Equity Shares
- Non-Institutional Investors (NII) – 4,04,800 Equity Shares
- Retail Individual Investors (RII) – 8,70,400 Equity Shares
- Market Maker – 1,32,800 Equity Shares
The net proceeds from the IPO will be utilized to fund expansion of the current service line in the US and Western European region, adding new categories of freelancer and technology development. The issue closes on May 31st, 2023.
The Lead Manager to the Issue is Holani Consultants Private Limited and The Registrar to the Issue is Link Intime India Private Limited.
