Sattrix Information Security IPO fully subscribed on day 1: Check key details and subscription status

Sattrix Information Security Ltd IPO saw a strong demand on Wednesday, June 5, as the public issue was fully booked on the first day of bidding.

The initial public offering of Sattrix Information Security Ltd was booked 1.07 times with bids for 18.38 lakh shares against 17.08 lakh shares on offer, as per the BSE data.

Retail investors applied for 12.54 lakh shares compared to 8.54 lakh shares reserved for the category, leading to a subscription of 1.46 times. The non-institutional investors’ (NIIs) segment received applications for 5.84 lakh shares, compared to the 8.54 lakh shares reserved for the category. The issue was subscribed 68% in the NII category.

The ₹21.78-crore fixed price BSE SME public offer comprises a fresh issue of 18,00,000 shares. Sattrix Information Security IPO subscription is open from June 5 to June 7.

The book running lead manager for the issue is Isk Advisors Pvt Ltd, the registrar for the issue is Bigshare Services Pvt Ltd and the market maker for the public issue is Sunflower Broking.

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Sattrix Information Security IPO date

Sattrix Information Security IPO allotment status is likely to be completed by June 10. Shares will be transferred to the Demat accounts of successful bidders and refunds will be initiated for unsuccessful bidders on Tuesday, June 11. Sattrix Information Security’s shares are likely to list on the BSE SME platform on Wednesday, June 12.

Sattrix Information Security IPO price and lot size

Sattrix Information Security IPO price band has been set at ₹121 per share. The minimum lot size for subscription for retail investors is 1 lot of 1,000 shares, which translates to a minimum investment of ₹1,21,000.

Sattrix Information Security IPO Objective

The company plans to use the money raised via the public issue for expenses such as purchasing furniture, fixtures and air conditioning for a new office at Ahmedabad. The company also plans to use the money raised via the public issue for expanding its business through the development of new products.

About Sattrix Information Security Limited

Sattrix Information Security is a provider of cyber-security solutions and was founded in 2013. The company designs and builds data security solutions and the company's service list includes: assessment services, IT infrastructure management, Hybrid IT services and solutions and Managed Security Services (MSS).

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