SA Tech Software Debuts On NSE SME With 90% Premium

New Delhi, Aug 2 (KNN) SA Tech Software, an IT consulting subsidiary of SA Technologies Inc., made a strong debut on the National Stock Exchange's Small and Medium Enterprise (NSE SME) platform on Friday.

The company's shares opened at Rs 112.1, marking a 90 per cent premium over its issue price of Rs 59.

Prior to the listing, the grey market had indicated a premium of Rs 53, suggesting strong investor interest.

The initial public offering (IPO), which consisted entirely of fresh equity issuance totalling 39 lakh shares, garnered significant attention from investors, with the issue being oversubscribed by more than 600 times.

The company plans to utilise the net proceeds from the public offer for debt repayment, working capital requirements, and general corporate purposes.

Headquartered in Pune and Bengaluru, SA Tech Software specialises in AI-driven IT outsourcing solutions and global development centres (GDCs).

The firm offers a range of services, from individual support to large-scale enterprise transformations, with the capability to scale its professional workforce from 1 to 1000 as per client needs.

SA Tech's GDCs focus on innovation, research and development, cost-efficient solutions, quality assurance, and round-the-clock operations. The company has over a decade of experience serving both global and domestic clients.

Through its service partnership with its parent company, SA Tech caters to international clients and maintains a diverse portfolio ranging from small businesses to large enterprises.

The company emphasises its ability to leverage global talent to address complex technological challenges.

In its pre-listing statement, SA Tech highlighted its long-standing relationships with enterprise clients as a key factor in building trust and providing a mix of stability and growth opportunities.

For the fiscal year ending March 2024, SA Tech Software reported total revenues of Rs 23.88 crore and a net profit of Rs 2.48 crore.

(KNN Bureau)