CapitalNumbers Infotech IPO Day 2: Check subscription status, GMP and other details

CapitalNumbers Infotech IPO: The initial public offering (IPO) of CapitalNumbers Infotech opened for subscription on Monday, January 20 and will close on Wednesday, January 22. The company, which aims to raise ₹169.37 crore through the IPO, has set a price band of ₹250-263 per share. This is the biggest SME IPO in the current calendar year so far.

CapitalNumbers Infotech Day 2 Subscription Status

CapitalNumbers Infotech IPO was booked 6.38 times by 1 pm on Day 2. Investors bid for 273.06 lakh shares as against 42.77 lakh shares on offer. The retail portion of the public issue was subscribed 8.04 times while the Non-Institutional Investors’ (NII) category received 7.29 times bids. The QIB quota was bid 2.8 times by this period.

CapitalNumbers Infotech GMP today

The company's shares in the grey market traded at a premium of ₹140. This indicates an estimated listing price of ₹403, up 53 per cent from the IPO price of ₹263. 

However, one must note that grey market premium is only an indicator of how the company's shares are performing in the unlisted market and can change quickly.

CapitalNumbers Infotech IPO details

The issue is a combination of fresh issue of 32.20 lakh shares aggregating to ₹84.69 crore and offer for sale of 32.20 lakh shares aggregating to ₹84.69 crore. Promoters Mukul Gupta, Vipul Gupta, and Herprit Gupta, who hold 99.99 percent shareholding in the company, will be the selling shareholders in the offer-for-sale.

For prospective investors, the minimum lot size for application is 400 shares and in multiples thereof. Retail investors are required to invest a minimum amount of ₹1.05 lakh to participate in the offering.

The issue raised ₹48.19 crore from anchor investors ahead of IPO, on January 17.

The company plans to use the net proceeds for several key objectives, including advancing leading-edge technology, increasing investments in business development, and funding its subsidiary. Additionally, the funds will support inorganic growth through potential acquisitions and other strategic initiatives, as well as general corporate purposes. 

The company has reserved 50 per cent of the net offer for the qualified institutional bidders (QIBs), while non-institutional investors (NIIs) will have 35 per cent of the net offer. The remaining 15 per cent of the net offer will be allocated towards retail investors of the issue.

GYR Capital Advisors Private Limited is the book-running lead manager of the CapitalNumbers Infotech IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for CapitalNumbers Infotech IPO is Giriraj Stock Broking Private Limited.

The allotment for the CapitalNumbers Infotech IPO is expected to be finalised on Thursday, January 23. The IPO will list on BSE SME with the tentative listing date fixed as Monday, January 27.

About the firm

Capital Numbers Infotech, a provider of software development solutions to enterprises and startups globally, plans to utilise the proceeds from its fresh issue for advancing cutting-edge technology, business development, investments in its subsidiary, inorganic growth, and general corporate purposes.

With a workforce of over 500 IT professionals and consultants, the company serves more than 250 clients worldwide, competing with listed peers such as Info Beans Technologies and Silver Touch Technologies.

On the financial front, the West Bengal-based IT firm reported a net profit of ₹26 crore for fiscal 2024, marking a 50 per cent growth compared to the previous fiscal year. Revenue during this period rose by 6 per cent, reaching ₹98.2 crore, up from ₹92.6 crore. For the first half of the current financial year, profit stood at ₹13.67 crore, with revenue at ₹50.2 crore.