Sattrix Information Security IPO: Issue opens for subscription on June 5, check details before bidding

Sattrix Information Security, a developer of cybersecurity solutions, will launch its Initial Public Offering (IPO) on Wednesday, June 5. The window for subscription will remain open for three days till Thursday, June 7.

Sattrix Information Security IPO price band has been fixed at ₹121 per share, with a face value of ₹10 per share. Retail investors can make a minimum investment of 1 lot size comprising 1,000 shares, which translates into a minimum investment amount of ₹1,21,000. The minimum lot size for high net worth individuals (HNI) is 2 lots of 2,000 shares, aggregating to an application amount of ₹2,42,000.

Sattrix Information Security IPO registrar

The book running lead manager of the issue is Isk Advisors Pvt Ltd and the registrar for the issue is Bigshare Services Pvt Ltd. Sunflower Broking is the market maker for Sattrix Information Security IPO.

The company’s promoters Sachhin Kishorbhai Gajjaer and Ronak Sachin Gajjar hold 100% stake in the company.

Sattrix Information Security IPO offer size

Sattrix Information Security IPO comprises a fresh issue of 18 lakh shares. The company aims to raise ₹21.78 crore through the fixed price issue.

Sattrix Information Security has reserved 50% of the net offer for retail investors and the rest of the shares for other categories.

Sattrix Information Security IPO allotment, listing date

The subscription window for Sattrix Information Security IPO will open on Wednesday, June 5 and will close on Friday, June 7. Sattrix Information Security Ltd IPO allotment status is likely to be decided on Monday, June 10.

Refunds will be initiated for the unsuccessful bidders and shares will be credited to the Demat accounts of allottees on Tuesday, June 11. Sattrix IPO listing date has been tentatively fixed as Wednesday, June 12. Sattrix Information Security Ltd shares will be listed on the BSE SME platform.

Sattrix Information Security IPO financials

The company’s revenue from operations for the nine months ended December 31, 2023, stood at ₹30.61 crore while the company’s Profit After Tax (PAT) stood at ₹2.5 crore. For the same period, the company’s net worth stood at ₹14.46 crore.

The company’s revenue from operations for FY23 grew 61% to ₹37.75 crore compared to ₹23.48 crore in the preceding fiscal. The company’s net profit in the financial year ended March 31, 2023, grew nearly 87% to ₹4 crore compared to ₹2.14 crore in FY22. The company’s net worth for FY23 surged nearly 54% to ₹11.94 crore compared to ₹7.76 crore in the preceding financial year.

Sattrix Information Security IPO objective

The company plans to use the money raised via the public issue to meet its capital expenditures. A portion of the IPO proceeds will be used for purchase of furniture, fixtures and air-conditioning for the company’s new office in Ahmedabad.

The company will also use the money raised through the public issue for the purchase and installation of IT equipment, computer hardware, server, SAN storage, CCTV cameras, video conferencing equipment, networking (LAN) and other equipment.

About Sattrix Information Security

The company was founded in 2013 and is a developer of customer-oriented cyber security solutions. Sattrix Information Security designs and builds services such as: Assessment services, IT infrastructure management, Hybrid IT services and solution and Managed Security Services (MSS). The company has 145 employees on its payroll, as of October 2023.

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