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iValue Infosolutions IPO Day 1: iValue Infosolutions Ltd opened its initial public offering (IPO) on Thursday. The issue — an entirely Offer for Sale (OFS) of 1.87 crore equity shares of face value Rs 2 each — seeks to raise Rs 560.29 crore. The first day of bidding ended with the issue subscribed 0.28 times, with bids received for 36,35,150 shares against the total 1,31,17,272 shares on offer, according to NSE data.

Qualified Institutional Buyers (QIBs) bid for 7,600 shares out of 37,47,792 reserved. Non-Institutional Investors (NIIs) subscribed 0.23 times (6,45,000 shares against the allotted 28,10,844 shares). Retail Individual Investors (RIIs) bid 0.45 times, or 29,82,550 shares out of the 65,58,636 shares reserved for them.

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The book-built issue has a price band of Rs 284–Rs 299 per share. The bidding window runs from September 18 to 22. Share allotment is likely to be finalised on September 23, with credited shares expected in demat accounts on September 24. The tentative listing date on NSE and BSE is September 25.

The minimum application size for retail investors is 50 shares, requiring an investment of at least Rs 14,950 at the upper price band. Small Non-Institutional Investors (sNIIs) must apply for at least 700 shares (14 lots) amounting to Rs 2,09,300, while large NIIs need to apply for 67 lots amounting to Rs 10,01,650.

Founded in 2008, iValue Infosolutions is an enterprise technology solutions provider focusing on securing and managing digital applications and data for large organisations through partnerships with system integrators and original equipment manufacturers. The company is headquartered in Bengaluru.

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Currently working as a trainee Sub-Editor at Zee Business, Shristi Rani is passionate about storytelling and delivering content that engages diverse audiences across digital platforms.

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