iValue Infosolutions' Successful IPO Raises Rs 560 Crore

iValue Infosolutions Ltd's initial public offering (IPO) concluded on a high note, being subscribed 1.82 times by the closing day of bidding.

The company's offering garnered bids for 2,38,25,200 shares against the 1,31,17,272 shares available, according to data from NSE.

The Qualified Institutional Buyers (QIBs) category was the most enthusiastic, being subscribed 3.18 times. Retail Individual Investors (RIIs) and non-institutional investors attracted 1.28 and 1.26 times subscriptions, respectively.

Supported by Creador, the company raised Rs 168 crore from anchor investors.

Valued at approximately Rs 1,600 crore at the upper price band of Rs 284-299 per share, the entire issue is an offer-for-sale (OFS). Consequently, all proceeds amounting to Rs 560 crore will go directly to the selling shareholders.

iValue Infosolutions specializes in providing enterprise technology solutions that enable secure and efficient digital transformations for large enterprises by collaborating with system integrators and OEMs.

The IPO is managed by IIFL Capital Services and Motilal Oswal Investment Advisors, with shares expected to list on BSE and NSE on September 25.

(With inputs from agencies.)