The IPO of this Pune based IT-Startup has got subscribed fully.
Mr Anshu Goel started a proprietorship firm in 2008 in Pune, Maharashtra dealing in IT industry, majorly in software. In the year 2018, the firm made its way to a Public Limited Company renamed as Alphalogic Techsys Limited. This company has utilized the easier startup IPO rules of SEBI and raised Rs 6.18 crore, in August’19. It has become the first company to be listed on BSE Startup platform.
The BSE StartUp platform is aimed at assisting SMEs to raise equity capital for their growth and expansion. Startup companies in the high-tech space such as IT, ITES, Biotechnology and Life Science, 3D Printing, Space technology, E-Commerce etc. can seek a listing on this platform. Moreover, startups as young as only 2 years can also go for this capital raising process. This is no need to have a minimum profit but the net worth of the company should be positive. But Market Making is mandatory.
The first step to listing is the appointment of a merchant banker, which prepares the documents such as DRHP among others, for filing with the exchange. Once the exchange issues an in-principal approval, RHP would be filed.