The Cystango Technologies IPO subscription will open to the public from March 2. The subscription window will close on March 6. The company has fixed the price band of Rs 85 to Rs 89 at a face value of Rs 10 for the issue up to 38 issues. 68,800 Equity Shares.
The company has reserved 1,96,800 equity shares for market makers and 36,72,000 equity shares for the net offer to the public. As per the terms of the offer, qualified institutional buyers (QIBs) are entitled to 50 per cent of the net offer, HNIs and NIIs to 15 per cent and retail investors to the remaining 35 per cent.
Systango Technologies IPO allotment status will be made public on March 10. The shares will be listed on March 15. The IPO comes with a bid of 1600.
The company will use the funds for acquisitions and investments in subsidiaries and to meet working capital requirements.
Systango Technologies IPO is managed by Hem Securities. BigShare Services is the registrar to the Issue.
The company is in the business of providing software solutions that allow businesses to design, implement and manage their own customized digital platforms including web2, web3 and mobile applications.
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