Spectrum Talent Management IPO Listing: Shares of Spectrum Talent Management, a leading company that provides staffing solutions, made a lackluster entry into the domestic market. The Rs 105 crore issue had received a tremendous response from retail investors, with the issue being subscribed to 13.10 times. IPO investors were allotted shares at Rs 173, and now the shares are trading at Rs 147.25 on the NSE-SME platform, a 10 percent decline from the IPO price.
Spectrum Talent Management IPO Receives a Great Response: The Rs 105.14 crore Spectrum Talent Management IPO received an excellent response from investors. The issue was open for subscription from June 9 to June 14. It was subscribed to 12.27 times, with qualified institutional investors allotted 11.21 times, non-institutional investors 11.68 times, and retail investors 13.10 times.
Details of Spectrum Talent Management: Spectrum Talent Management provides human resources and staffing solutions services, such as payroll, recruitment, onboarding, and flexible staffing. It has over 275 clients in India and abroad and has appointed 15,606 employees for its clients until December 2022. The company has been operating since 2012.
Financial Health of Spectrum Talent Management: In the financial year 2020, the company had a net profit of Rs 6.76 crore, which decreased to Rs 4.76 crore in the next financial year 2021. However, the situation improved, and the company reached a net profit of Rs 155.2 crore in the next financial year 2022 and Rs 199.7 crore in April-December 2022 of the financial year 2023.
The funds raised through the issue will be used to fulfill the company’s working capital requirements, acquisitions, expenses related to the issue, and general corporate purposes.
In conclusion, the Spectrum Talent Management IPO had a great response from retail investors, but the shares made a lackluster entry into the domestic market. The company offers staffing solutions and has a strong client base in India and abroad. It has shown remarkable growth in the financial year 2022 and is expected to continue its growth trajectory.
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