The IPO of Infonative Solutions, a provider of innovative learning development solutions, has officially opened for subscription, creating buzz in the market. This initial public offering aims to secure over ₹24 crore through the SME IPO route, starting from March 28 and concluding on April 3. Investors are keenly awaiting the allotment results, which are expected to be finalized on April 7, with shares anticipated to be listed on the BSE SME platform by April 8.

Key Details of Infonative Solutions IPO

• Total Shares Offered: The IPO consists of 31.28 lakh equity shares, with allocations designed for various investor categories:
  • Qualified Institutional Buyers (QIB): 1,60,000 shares
  • Non-Institutional Investors (NII): 7,04,001 shares
  • Retail Individual Investors (RII): 21,07,200 shares

Pricing and Investment Breakdown

The price band for the Infonative Solutions IPO is set between ₹75 and ₹79 per share, with the upper limit aiming to raise approximately ₹24.71 crore. Retail investors must purchase a minimum of 1,600 shares, equating to an initial investment of ₹1,20,000.

Share India Capital Services Private Limited serves as the lead manager for this IPO, while Kfin Technologies Limited acts as the registrar.

Promoters and Shareholding Structure

The firm’s promoters include Saurabh Kathuria, Abdur Rauf Rahmani, and Yogeshh Goel. Currently, the promoters hold 94.13% of the company, which is expected to decrease to 69.28% post-IPO.

Infonative Solutions reported a net profit of ₹3.64 crore for the six months ending September 2024, indicating a strong financial position leading into this public offering.

Subscription Status and Market Trends

As of March 28, the IPO has garnered 34% subscription on its opening day, with bids amounting to 10.17 lakh equity shares against an offering of 29.71 lakh shares. The retail segment shows a 48% subscription rate, while QIBs and NIIs have yet to place bids.

Current Grey Market Performance

In the unlisted market, Infonative Solutions shares are currently exhibiting a subdued trend, with no notable grey market premium reported today. Observers note that the GMP (Grey Market Premium) stands at ₹0 per share, indicating that the shares are trading at par with their issue price of ₹79.

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