Latest news with #GalaxyInfotech
Economic Times
19-05-2025
- Business
- Economic Times
Virtual Galaxy Infotech shares list at 27% premium on NSE SME platform
Shares of Virtual Galaxy Infotech listed with a 26.76% premium at Rs 180 on the NSE SME platform in Monday's trade. ADVERTISEMENT Virtual Galaxy Infotech, a technology-driven company specializing in digital solutions and software services, attracted significant investor interest during its IPO subscription period. The IPO was subscribed over 200 times, driven by robust non-institutional interest. The QIB and retail segments were also subscribed over 100 times. The issue was priced at Rs 142 per share. The IPO proceeds are intended for capital expenditure towards setting up an additional development facility in Nagpur, repayment/prepayment of certain borrowings, investment in procuring GPU, server & storage systems at a data centre, enhancement and maintenance of existing products through manpower hiring, business development and marketing activities, and general corporate Galaxy Infotech, established in 1997 and based in Nagpur, specializes in IT services and consulting. The company offers a range of software products and services across various sectors, including banking and finance, ERP, e-governance, web services, cloud computing, big data, IoT, and system integrationThe company's strong fundamentals, coupled with a rapidly growing digital services industry, have been the key drivers of its popularity among investors. Its strong client base, innovative product offerings, and robust growth trajectory have further fueled positive market sentiment. ADVERTISEMENT (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
India Today
15-05-2025
- Business
- India Today
Rs 87,000 profit on listing? This IPO's GMP suggests bonanza for investors
The initial public offering (IPO) of Virtual Galaxy Infotech is showing strong listing prospects, days before its listing date of May 19, market premium (GMP) of Virtual Galaxy Infotech is suggesting a possible profit of up to Rs 87,000 for investors who receive share grey market is currently quoting a premium of Rs 87 per share for the issue as of 10 am. Given the lot size of 1,000 equity shares, this points to expected listing gains of Rs 87, Galaxy Infotech IPO opened for subscription on Friday, May 9, 2025, and closed on Wednesday, May public issue was entirely a fresh share sale, with the company offering up to 65.7 lakh equity shares to raise Rs 93.29 crore. The shares were priced at Rs 142 Galaxy Infotech, set up in September 1997, is an IT services and consulting company based in Nagpur, Maharashtra. It provides software products and services across a wide range of industries. These include banking and finance, enterprise resource planning (ERP), e-government, web services, cloud computing, big data, internet of things (IoT), and system INTEREST FROM INVESTORSThe IPO received a strong response from all categories of investors as it was subscribed 231.45 times portion reserved for qualified institutional buyers (QIBs) was subscribed 129.72 times, while non-institutional investors (NIIs) bid for 590.27 times the shares on offer. The retail portion was also highly active, booked 134.03 investors were allowed to apply for just one lot, which meant 1,000 shares costing Rs 1.42 lakh. Non-retail investors had to apply for a minimum of two lots, totalling 2,000 shares or Rs 2.84 lakh. The company's shares will be listed on the NSE Emerge platform, which is meant for small and medium enterprises (SMEs).Before the IPO opened, Virtual Galaxy Infotech raised Rs 26.13 crore through an anchor round by allotting 18.40 lakh shares to anchor investors at Rs 142 per company's current market value stands at Rs 353 crore. For the financial year ended March 31, 2024, Virtual Galaxy Infotech reported a net profit of Rs 16.54 crore. Its total revenue for the same period was Rs 63.58 Horizon Capital Advisors acted as the book-running lead manager for the issue. Maashitla Securities served as the registrar, while Alacrity Securities is the market maker for the final allotment of shares is expected to be announced on Thursday, May 15. The listing of shares is likely to take place on Monday, May 19. advertisement
