Tridhya Tech Ltd IPO: Open/Close Date, Price, Lot Size, Allotment, Subscription

IPO Details

Bidding Dates

30 Jun '23 - 05 Jul '23

Minimum Investment

₹126,000 / 1 Lots (3000 Shares)

Price Range

₹35 - ₹42

Maximum Investment

₹126,000 / 1 Lots (3000 Shares)

Retail Discount

Not Applicable

Issue Size

₹26.41 Cr

Investor category and sub category

Qualified Institutions Buyers | Non-Institutional Buyers | Retail Investors |

IPO Dates

Important dates with respect to IPO allotment and listing

IPO Opening Date

Jun 30, 2023

IPO Closing Date

Jul 5, 2023

Basis of Allotment

Jul 10, 2023

Initiation of Refunds

Jul 11, 2023

Credit of Shares to Demat Account

Jul 12, 2023

IPO Listing Date

Jul 13, 2023

UPI Mandate Confirmation

Jul 5, 2023

IPO Subscription Details

Date	QIB	NII	Retail	Total
Day 1Jun 30, 2023	0.00	0.20	0.48	0.29
Day 2Jul 3, 2023	0.55	1.20	1.93	1.38
Day 3Jul 4, 2023	0.55	5.21	6.03	4.07
Day 4Jul 5, 2023	1.65	7.28	19.29	10.88

IPO Subscription Status Live

Investor Category	Subscription (Times)
Qualified Institutions Buyers	1.65
Non-Institutional Buyers	7.28
Retail Investors	19.29
Total	10.88

About Company

Tridhya Tech Limited was incorporated in 2018 and is engaged in the full-service software development business. The company offers turnkey consultancy services to industries like e-commerce, transport and logistics, real estate, insurance, etc. Their services include e-commerce development, enterprise content management, bespoke web management, mobile app development, API development, product support and maintenance, front-end development and graphic design.

Tridhya Tech also provides customised software products, from the initial concept of the product requirement, deploying the final product and post-deployment support. The company also offers consultation, project management, maintenance and support services.

IPO Details

Tridhya Tech Limited IPO is a 100% fresh issue comprising 62,88,000 shares, aggregating up to Rs. 26.41 crore. The price band is set between Rs. 35 and Rs. 42 per share. The lot size is 3,000 shares. The IPO is set to open on 30th June 2023 and close on 5th July 2023. It will be listed on NSE SME.

IPO Objectives

The company proposes to use the net proceeds from the issue in the following ways:

Repayment of unsecured and secured loans.
General corporate purpose.
Meeting public issue expenses.

Noteworthy Highlights

To accelerate development, the company has an inorganic growth policy. This gives Tridhya Tech access to new markets, additional skills, and expertise of new staff. In line with this policy, the company acquired one company in FY 2022 and two in FY 2023.
The company has not filed the GST returns in due time and has also delayed Provident Fund payments. As a result, they may have to pay interest and penalties if levied by the respective authorities. This can impact their cash flow.
Tridhya has a presence in both domestic and international markets. Their customer base spans the states of Maharashtra, Punjab, Telangana, Gujarat, and Karnataka. In the international market, their customers are present in Canada, Australia, France, Estonia, Germany, Israel, Italy, Japan, Mauritius, Qatar, Netherlands, Singapore, UAE, UK, USA and Switzerland.

Peer Details

The company’s peers include Dev Information Technologies Limited, Silver Touch Technologies Limited, and Infobeans Technologies Limited. However, they are not strictly comparable, given the nature and size of the business.

Company Financials

Particulars	March 31, 2020	For the period ended Dec 31, 2022 (Rs. lakh)	March 31, 2022 (Rs. lakh)	March 31, 2021 (Rs. lakh)
Current Ratio	1.13	0.90	0.87	0.69
Debt equity ratio (%)	4.34	1.23	0.49	6.78
Return on equity ratio (%)	156.45	2.85	20.90	84.78
EBITDA	46.00	416.85	569.41	152.88
EBITDA Margin (%)	10.54	42.78	42.04	18.33
Return on Capital Employed (%)	55.83	9.69	26.40	19.38

Know before investing

Strengths

Tridhya’s EBITDA has increased multifold over the fiscal years 2020, 2021, and 2022. In 2020, the EBITDA was Rs. 46 lakh, which increased to Rs. 416.85 lakh on 31st December 2023.
Tridhya Tech offers end-to-end IT services that support a full business life-cycle. This makes them a one-stop shop for their clients, allowing the company to foster strong relationships and widen the scope of their engagements.

Risks

The company’s clients span India and overseas countries, but their intellectual property rights have limited jurisdiction in India.
Tridhya’s international sales and operations are subject to uncertainties and also exposed to foreign currency exchange rate fluctuations. They have not entered into any hedging arrangements to address potential adverse changes in the exchange rate.

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Tridhya Tech Ltd IPO FAQs

What is Tridhya Tech Limited's IPO?

Tridhya Tech Limited IPO is a 100% fresh issue consisting of 62,88,000 shares of a face value of Rs. 10 each, aggregating up to Rs. 26.41 crore. The price band is set between Rs. 35 and Rs. 42 per share.

When will Tridhya Tech Limited's IPO allotment be available?

The Basis of Allotment date is 10 July 2023.

What will be Tridhya Tech Limited's IPO lot size?

The lot size for Tridhya Tech Limited is 3,000.

When will Tridhya Tech Limited's IPO open for subscription?

The IPO subscription window opens on 30 June 2023 and closes on 5 July 2023.

What minimum lot size can retail investors subscribe to?

Retail investors can apply for a minimum of one lot, which consists of 3,000 shares.

When will Tridhya Tech Limited list on exchanges?

Tridhya Tech Limited will list on the NSE exchange on 13 July 2023.

How do I check the allotment status of the Tridhya Tech Limited IPO?

Steps to check IPO allotment status on Angel One’s app: