Infollion Research IPO Lists on NSE-SME with a Strong Response
Infollion Research Services, a prominent company that provides subject matter experts, made a remarkable entry into the domestic market with the listing of its shares. The IPO was issued at a price of Rs. 82 per share with an overall subscription of 259.71 times. The IPO witnessed a robust response from investors, and the shares were listed on NSE-SME at Rs. 209, which is a 155% gain.
Key Highlights:
– Infollion Research Services IPO received a strong response from investors.
– The IPO was oversubscribed by 259.71 times, with QIB at 70.72 times, NII at 422.45 times, and retail investors at 264.10 times.
– The funds raised through the IPO will be used to expand the company’s existing services, including the expansion of its service line in the US and Western European countries, starting a new category of freelancer packs, technology development, and corporate purposes.
Details of Infollion Research Services:
Infollion Research Services operates in the B2B human cloud segment and provides subject matter experts for different domains. The company caters to significant global management consulting firms, private equity funds, hedge funds, and mid-tier corporates. In comparison to other expert networks and freelancing networks, Infollion Research Services competes directly, while staffing firms pose an indirect challenge.
The financials of the company have been consistently improving over the past few years, with its net profit and revenue continuously increasing. In the financial year 2020-21, the company recorded a net profit of Rs. 2.08 crore, which is expected to increase to Rs. 3.41 crore in the financial year 2022 and Rs. 5.58 crore in the financial year 2023. Similarly, the company’s revenue is expected to increase from Rs. 16.06 crore in 2020-21 to Rs. 22.20 crore in 2021-22 and Rs. 35.30 crore in 2022-23.
Conclusion:
Infollion Research Services’ successful IPO launch and oversubscription reflect investors’ trust and confidence in the company’s prospects. The company’s continued focus on expanding its service offerings and leveraging technology to deliver value to its clients is expected to drive growth in the future.
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