Tridhya Tech IPO opens on June 30

Tridhya Tech is engaged in full-service software development which includes all IT services and resources. The company provides turnkey consultancy services to various industries like e-commerce, Real estate, transport, Logistics, Insurance and other sectors.

The IPO will open next week on June 30 and will be available for subscription till July 5. It will likely be listed on NSE Emerge on July 13.

Tridhya will be offering 62,88,000 equity shares in the IPO, the price band will have a face value of Rs 10 each. The Issue is being made pursuant to Regulation 229(2) and 253(1) of SEBI (ICDR) Regulations as the company's post-issue paid-up capital is more than Rs 10 crore and up to Rs 25 crore. 

The company is planning to utilize the proceeds of the issue for repayment of unsecured and secured loans. Also, a portion of the proceeds will be used for general corporate purposes.

Interactive Financial Services is acting as the book-running lead manager for the IPO. While Link InTime is the registrar.

As of December 31, 2022 period, the company's revenue from operations came at Rs 13.71 crore compared to Rs 13.72 crore as of March 31, 2022. PAT stood at Rs 2.85 crore as of December 31, 2022, as against Rs 3.43 crore as of March 2022 period.

Content Source: Media reports