Ace Alpha Tech IPO listing today. GMP signals moderate debut
is set to debut on the
BSE SME platform
on July 3 with the grey market indicating a modest listing gain. The IPO, which was priced at Rs 69 per share, is commanding a GMP of Rs 30 ahead of listing, implying a potential 43% upside at Rs 99 per share if sentiment holds.
The Rs 32.22 crore IPO opened for subscription on June 26 and closed on June 30. It comprised a fresh issue of 35.48 lakh equity shares amounting to Rs 24.48 crore and an offer for sale (OFS) of 11.22 lakh shares worth Rs 7.74 crore.
Narnolia Financial Services
acted as the lead manager, while Ss Corporate Securities served as the
market maker
.
Ace Alpha Tech, incorporated in 2012, is a tech-driven player in legal, accounting, auditing, tax consultancy, market research, and trading infrastructure services.
Its offerings include institutional trading tools, cloud-based B2B trading platforms, proprietary trading systems, and user management solutions — catering to a broad spectrum of clientele ranging from institutions to retail traders.
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With only nine full-time employees, the company has posted impressive financial metrics. For FY24, Ace Alpha Tech clocked Rs 15.35 crore in revenue and a net profit of Rs 10.65 crore, reflecting a
PAT margin
of over 70%.
At the upper end of the price band, the IPO valued the company at Rs 121.15 crore. The proceeds will be used for
capital expenditure
and strategic acquisitions, along with general corporate purposes.
Despite a relatively small issue size, the strong profitability and visible GMP of Rs 30 suggest a promising start for Ace Alpha Tech when it lists on Thursday.
(
Disclaimer
: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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