New Delhi, May 29 (HS): Unified Data Tech Solutions, specializing in IT services for the banking and finance sector, had its shares listed today, initially experiencing a 4.40% gain at ₹285 after being issued at ₹273 during its IPO. However, profit booking quickly set in, leading to a decline, with shares trading at ₹272.55 by 11 AM, down 0.16%. The ₹144.47 crore IPO, open from May 22 to May 26, was highly successful, oversubscribed 91.12 times overall, with Qualified Institutional Buyers (QIB) subscribing 83.22 times, Non-Institutional Investors (NII) 212.43 times, and retail investors 43.62 times.

No new shares were issued, with 5,292,000 shares sold in the offer-for-sale. Financially, the company has shown improvement, transitioning from a net profit of ₹9.71 crores in 2021-22, to ₹10.40 crores in 2022-23, and reaching ₹25.13 crores in 2023-24. During this time, revenue surged over 67% CAGR to ₹266.80 crores, with a reported net profit of ₹31.68 crores in the first 11 months of the last fiscal year and revenue of ₹203.66 crores.

Hindusthan Samachar / Jun Sarkar