Kody Technolab shares list at 6.35% premium at ₹170 per share on NSE SME

Kody Technolab IPO Listing: Kody Technolab shares were listed with a small premium of 6.25% to the issue price on NSE Emerge, a platform for SME companies. Kody Technolab share price began trading at ₹170 apiece as compared to its issue price of ₹160 per share.

The initial public offering (IPO) of Kody Technolab Ltd, a software development services company, has received stellar response from investors during September 15 and September 20.

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Kody Technolab IPO was subscribed 51.55 times in total. The public issue received bids for 8.42 crore equity shares as against 17.20 lakh shares on the offer. The public issue was subscribed 53.56 times in the retail category and 41.17 times in the Other category.

Kody Technolab IPO was entirely a fresh issue of 17.20 lakh equity shares aggregating up to ₹27.52 crore. The IPO price band was at ₹160 per share, while the lot size was 800 shares.

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Beeline Capital Advisors Pvt Ltd were the book running lead manager for Kody Technolab IPO, while Kfin Technologies was the IPO registrar.

Kody Technolab provides software development services including staff augmentation, AR development and implementation, enterprise mobility, digital transformation, business analytics and intelligence, artificial intelligence robotics IT consulting, Internet of Things (IoT) services, and IT consulting services, among others to a diverse set of industries.

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The company proposes to utilise the net proceeds from the fresh issue for funding capital expenditure toward setting up a development center at Gift City, Gandhinagar, funding incremental Working Capital Requirement, repayment or  prepayment of certain borrowings and general corporate purposes.

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