Ivalue Infosolutions IPO made a muted market debut; stock list at 5% discount

Shares of Ivalue Infosolutions disappointed at their stock market debut on Thursday, September 25 as the IT solutions player was listed at Rs 284.95 NSE, a discount of 4.70 per cent over the issue price of Rs 299 apiece. The stock kicked off its trading session with a discount of 4.68 per cent against the given issue price of Rs 285 on BSE.

The listing of Ivalue Infosolutions has been in line with the market expectations. Ahead of its listing, shares of iValue Infosolutions have lost their steam in the grey market premium (GMP). It was commanding no premium in the unofficial market ahead of debut, signaling a flop debut. Investors have made a lot of Rs 750 on each lot of their allotment.

The IPO of Ivalue Infosolutions was open for bidding between September 18 and September 22. It had offered its shares in the price band of Rs 284-299 per share with a lot size of 50 shares. The company raised a total of Rs 560.29 crore via IPO, which was entirely an offer-for-sale (OFS) 1,87,38,958 equity shares.

The issue was overall subscribed only 1.82 times fetching only 1.3 akh applications. The allocation for the qualified institutional bidders (QIBs) was subscribed 3.18 times, while the portion for non-institutional investors' (NIIs) saw bids for 1.26 times. However, the retail investors' quota was booked at 1.28 times.

Incorporated in 2008, Bengaluru-based Ivalue Infosolutions is a technology services and solutions provider specializing in enterprise digital transformation. The company operates across India, the SAARC region, and Southeast Asia. It offers comprehensive, purpose-built solutions for securing and managing digital applications and data.

Brokerage firms were mostly positive on the issue, suggesting to subscribe to it. IIFL Capital Services and Motilal Oswal Financial Services were the book running lead managers for the Ivalue Infosolutions IPO and Kfin Technologies served as the registrar of the issue.