SA Tech Software debuts on NSE SME with 90% premium

New Delhi, August 2 (KNN) SA Tech Software, an IT consulting subsidiary of SA Technologies Inc., made a strong debut on the New York Stock Exchange’s Small and Medium-Sized Enterprise (NSE SME) platform on Friday.

The company’s shares opened at Rs 112.1, a 90 per cent premium over the issue price of Rs 59.

Before listing, the stock was trading at a premium of Rs 53 crore in the grey market, indicating strong investor interest.

The initial public offering (IPO), which consisted of the issue of new shares totalling 3.9 million shares, attracted considerable investor attention, and the number of subscriptions for the issue exceeded 600 times.

The Company plans to use the net proceeds from the public offering to repay debt, meet working capital requirements and for general corporate purposes.

Based in Pune and Bengaluru, SA Tech Software specializes in AI-based IT outsourcing solutions and Global Development Centers (GDCs).

The company offers a wide range of services, from individual support to large-scale enterprise transformations, with the ability to adjust the size of its professional staff from 1 to 1,000 people depending on the client’s needs.

GDC SA Tech focuses on innovation, R&D, cost-effective solutions, quality assurance and 24/7 operations. The company has over a decade of experience serving global and domestic clients.

Through its service partnership with its parent company, SA Tech serves international customers and has a diversified portfolio spanning both small businesses and large enterprises.

The company highlights its ability to leverage global talent to solve complex technology challenges.

In its pre-listing statement, SA Tech emphasised that long-standing relationships with corporate clients are a key factor in building trust and providing a combination of stability and growth opportunities.

For the financial year ending March 2024, SA Tech Software reported total revenues of Rs 23.88 crore and a net profit of Rs 2.48 crore.

(KNN Office)