New Delhi, September 10 (HS): Technology consulting firm Optivalue Tech Consulting made a robust debut on the stock market on Wednesday, delivering handsome returns to its IPO investors. The company’s shares, issued at ₹84 under the Initial Public Offering, were listed on NSE’s SME platform at ₹103.60, opening with a solid 23.33 percent premium. Backed by strong buying support, the stock surged further and was trading at ₹106.40 by 10:30 a.m., giving IPO subscribers a return of 26.67 percent so far.
Optivalue Tech’s ₹126 crore IPO was open for subscription between September 2 and 4, and received overwhelming investor response, being oversubscribed 64.45 times. The Qualified Institutional Buyers’ (QIB) quota was subscribed 49.27 times, Non-Institutional Investors (NII) subscribed a staggering 118.82 times, while the Retail Investors’ portion saw 49.64 times subscription. Under the public issue, the company floated 61,69,600 fresh equity shares with a face value of ₹10 each. Proceeds from the IPO will be utilized for developing new products, establishing a branch office in Bengaluru, upgrading existing hardware and software, meeting working capital requirements, and other general corporate purposes.
According to its prospectus, the company has reported consistent improvement in profitability over the past three years. Net profit rose from ₹2.77 crore in FY 2022-23 to ₹5.49 crore in FY 2023-24, before jumping to ₹12.14 crore in FY 2024-25. However, revenues fluctuated during the same period, dipping from ₹39.27 crore in FY 2022-23 to ₹36.73 crore in FY 2023-24, and then rising sharply to ₹56.47 crore in FY 2024-25.
The company’s debt load also saw variations, standing at ₹7.06 crore at the end of FY 2022-23, dropping significantly to ₹1.80 crore by FY 2023-24, and climbing back to ₹5.53 crore at the close of FY 2024-25. Meanwhile, reserves and surplus stood at ₹12.16 crore at the end of FY 2022-23, rose to ₹17.65 crore in FY 2023-24, but slipped to ₹14.67 crore in FY 2024-25.
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Hindusthan Samachar / Jun Sarkar
