SME IPO: Sancode Technologies subscription status, issue to close on 6 Apr

Software and product development firm, Sancode Technologies has received subscriptions for nearly half of its total proposed equity shares in the initial public offering (IPO). Sancode IPO is proposed to be listed on BSE SME platform. The public offer is available for bidding till April 6th. 

As per BSE data, this SME IPO received a total bid of 5,01,000 equity shares. The company is offering a total size of 10.95 lakh equity shares under the IPO.

Of the total bids received, retail individual investors (RII) subscribed to 2,19,000 equity shares and non-institutional investors subscribed to up to 2,82,000 equity shares. However, qualified institutional buyers (QIBs) have shown no response to the IPO.

The equity shares offered under the IPO have a face value of ₹10 each.

The issue price is fixed at ₹47 per equity share. The market lot size is 3000 equity shares, which is also the minimum bid quantity.

The IPO was launched on March 31st and will close on April 6, 2023.

Shreni Shares is the lead manager for the IPO, while Bigshare Services is the registrar of the issue.

Sancode helps its clients to close the bridge between business and technology through faster digital adoption. It offers products such as API-based software platforms and solutions for faster digital adoption to the companies.