Unified Data-Tech Solutions shares list at ₹285 on BSE SME, up just 4.4% from IPO price
The SME IPO, valued at ₹ 144.47 crore, was open for subscription from May 22 to May 26.
The IPO concluded on an strong note, receiving bids amounting to 91.12 times the shares on offer over the three-day bidding period. A total of 32.05 crore shares were bid for, compared to the 35.17 lakh shares available. The retail investor portion was subscribed 43.62 times, while the non-institutional investor (NII) category saw a subscription of 212.43 times. Meanwhile, the Qualified institutional buyers (QIBs) portion was booked 83.22 times.
Unified Data-Tech Solutions IPO was a completely offer-for-sale of 52.92 shares, with no fresh issue component. The minimum application size was set at 400 shares, requiring a minimum investment of ₹ 1,04,000 from retail investors.
Unified Data-Tech Solutions clarified in its Red Herring Prospectus (RHP) that it will not receive any proceeds from the ongoing public offer. The company stated that all proceeds from the offer will go to the Promoter Selling Shareholder, after deducting offer-related expenses and applicable taxes, which will be borne by the shareholder. As a result, Unified Data-Tech will not benefit directly from the funds raised through the IPO.
Hem Securities Limited has been appointed as the book-running lead manager for the Unified Data-Tech IPO. Kfin Technologies Limited is handling the registrar responsibilities for the public issue. Meanwhile, Hem Finlease Private Limited will serve as the market maker for the IPO.
Unified Data-Tech Solutions Private Limited (UDTechs), established in 2010, is a Mumbai-based IT services company that delivers innovative and tailor-made technology solutions to its clients.
The company specializes in a wide range of IT services, including data center solutions, virtualization, cybersecurity, and networking. Its clientele spans critical sectors such as banking, financial services, and information technology. UDTechs focuses on providing secure, high-performance, and cost-effective technology infrastructure and ongoing support to meet the unique needs of each client.
UDTechs also procures and supplies products and services related to data centers, secure application delivery, and cybersecurity. It operates as an authorized partner for various original equipment manufacturers (OEMs), offering a suite of IT products, maintenance contracts, subscriptions, and support services.
With operational branches in Pune and Ahmedabad, the company has built a strong nationwide presence and currently serves more than 1,000 clients across India.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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