Globtier Infotech IPO opens for subscription; check issue price, lot size, financials and more

Globtier Infotech IPO: The initial pubic offering of Globtier Infotech opened for subscription on Monday, August 25. It will conclude on August 28. The IPO price is fixed at ₹72 per share.

The ₹31.05 crore initial share sale consists of a fresh issuance of equity shares valued at ₹27.44 crore and an offer for sale (OFS) component of ₹3.61 crore by promoter Rekha Shukla.

The fresh issue proceeds will be used to fund working capital requirements, debt repayment, and general corporate purposes.

Globtier Infotech IPO: Lot size

A lot consists of 1,600 shares. Individual investors can apply for a minimum of two lots or 3,200 shares.

Globtier Infotech IPO timeline: Allotment and listing dates

Globtier Infotech is a managed information technology (IT) and SAP support service provider, helping businesses with IT solutions. It provides services like IT FMS support, application support, application development, digital transformation, staff augmentation, infosee services and cloud solutions. It serves small, mid-size, and start-up enterprises.

The company has two units, Globtier USA, LLC and BOTGO Technologies Pvt Ltd.

"Our approach combines IT industry knowledge and technical capabilities to ensure that each client receives solutions specifically aligned with their needs," the firm said in its red herring prospectus (RHP).

The company's shareholders, Rajiv Shukla, Rahul Shukla and Rekha Shukla, hold a 99.87% stake, which will be reduced to 71.39% post issue.

Shannon Advisors Pvt Ltd is the book running lead manager of the offer, while Skyline Financial Services serves as the registrar.

Globtier Infotech IPO: Financials

Globtier Infotech IPO GMP

The grey market premium of the Globtier Infotech IPO has not been updated yet, according to investorgain.com and media reports.