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Revolutionary Tech Company Tridhya Tech Ltd Set to Raise Massive Rs 26.41 Crore in Groundbreaking IPO Launching on June 30

Ahmedabad-based software development company, Tridhya Tech Ltd, is set to embark on a groundbreaking journey to raise funds through its SME public issue. The subscription for this highly anticipated IPO will open on June 30, inviting investors to join in the company's vision of success.
The primary purpose of this public issue is to generate up to Rs 26.41 crore, which will be allocated towards the repayment of unsecured and secured loans, as well as to support the company's general corporate activities and business endeavors. Once the IPO is successfully completed, Tridhya Tech Ltd's shares will be listed on the prestigious SME Emerge Platform of the National Stock Exchange, ensuring widespread visibility and enhanced opportunities for growth. Facilitating this significant financial undertaking is Interactive Financial Services Ltd, serving as the lead manager for the issue. Interested investors will have until July 5 to participate in this transformative offering.

The initial public offering comprises a fresh issue of 62.88 lakh equity shares, each with a face value of Rs 10. The shares are priced in a range of Rs 35-42 per share, including a premium of Rs 25-32 per equity share. Tridhya Tech Ltd aims to raise a substantial sum of Rs 26.41 crore through this public issue. For prospective investors, the minimum lot size for application is 3000 shares, translating to a minimum application amount ranging from Rs 1.05 lakh to Rs 1.26 lakh per application, depending on the share price.

To ensure broad participation and accessibility, the IPO has designated specific quotas for different investor categories. The retail investor quota has been set at not less than 35% of the issue, providing retail investors with a significant opportunity to be part of Tridhya Tech's growth journey. The high net worth individual (HNI) quota has been allocated a minimum of 15% of the issue, catering to investors seeking substantial investment opportunities. The qualified institutional buyer (QIB) quota has been capped at a maximum of 50% of the issue, enabling institutional investors to participate in Tridhya Tech's future prospects. Additionally, a portion of 3,15,000 equity shares has been reserved for market makers, ensuring liquidity and market stability.

Established in 2018, Tridhya Tech Limited has rapidly emerged as a leading software development company based in Ahmedabad. The company specializes in offering comprehensive services, including eCommerce solutions, web and mobile application development, and end-to-end technology solutions. Its client base spans various industries, such as e-commerce, real estate, transport and logistics, insurance, and more. Tridhya Tech is renowned for its expertise in providing customized software products, encompassing the entire product lifecycle from conceptualization and design to coding, testing, and deployment.

Ramesh Marand, the Managing Director of Tridhya Tech Ltd, expressed confidence in the company's strategic initiatives and expansion plans. He emphasized the vision of becoming a prominent player in the software development space, with a focus on leveraging advanced technology infrastructure to deliver comprehensive tech solutions and establish a robust digital presence. Marand anticipates that the proposed public issue will propel Tridhya Tech's growth strategy, generating exponential value for all stakeholders. The proceeds from the IPO will fortify the company's balance sheet and fuel its strategic growth initiatives, ensuring a solid foundation for the future.

In terms of financial performance, Tridhya Tech Ltd showcased impressive figures for the fiscal year 2021-22, reporting total revenue of Rs 14.07 crore and a net profit of Rs 3.39 crore. The company's growth trajectory continued during the nine months ending in December 2022, with total revenue reaching Rs 15.08 crore and a net profit of Rs 2.85 crore. As of

 December 2022, Tridhya Tech boasts a net worth of Rs 20.30 crore, total assets amounting to Rs 59.69 crore, and reserves and surplus of Rs 18.60 crore. The pre-issue shareholding of the Promoter Group stands at 80.8%, which will be reduced to 58.98% following the successful completion of the public issue, allowing for greater public participation and widespread ownership.

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