Sattrix Information Security Makes Strong Debut On BSE SME Platform

New Delhi, Jun 12 (KNN) Sattrix Information Security, a leading provider of cybersecurity solutions, witnessed a successful listing on the BSE SME platform on Wednesday.

The company's shares debuted at Rs 150, marking a premium of 24 per cent over the issue price of Rs 121 per share.

Prior to the listing, Sattrix Information Security's shares had been trading with a premium of Rs 15 in the unlisted market, reflecting investor confidence in the company's prospects.

The initial public offering (IPO), which was a complete fresh equity sale of 18 lakh shares, received an overwhelming response from investors, garnering an overall subscription of 70 times at the close of the offering.

The net proceeds from the IPO are proposed to be utilised for technological enhancements, research, innovation, and the development of new cybersecurity solutions.

Additionally, a significant portion of the funds will be directed toward enhancing the company's security operations centre (SOC) and network operations centre (NOC) setup.

Sattrix Information Security specialises in developing customer-centric cybersecurity solutions and aims to deliver end-to-end cybersecurity services to enterprises in India, the United States, and the Middle East (UAE).

The company offers a comprehensive range of services, including assessments to identify weaknesses, professional services encompassing technology consultation and transformation initiatives such as cloud migration and digital transformation, and managed services for 24/7 support.

Through collaborations with numerous government and non-government organisations, Sattrix Information Security has significantly expanded its clientele during the last fiscal year.

In addition to its strong IT and cybersecurity offerings, the company has diversified its service portfolio to assist enterprises in transforming their technology and operations.

Sattrix Information Security is also planning a concerted effort to strengthen its presence in India, with a strategic emphasis on tapping into the enterprise SMB and mid-market segments.

Commenting on the listing, Sachhin Gajjaer, Managing Director, Sattrix Information Security, said, "It is a significant milestone for us, and we believe it will provide us with the necessary resources and exposure to achieve our long-term growth objectives and strengthen our market presence."

ISK Advisors acted as the sole book-running lead manager for the public offer, while Bigshare Services served as the registrar.

(KNN Bureau)