The initial public offering (IPO) of Euphoria Infotech India was subscribed 217.31 times on the BSE so far on Wednesday, the final day of the issue. The retail portion was subscribed 281.82 times while the non-institutional investors’ quota was booked 108.98 times around 12 pm. The portion for qualified institutional buyers (QIBs) was subscribed 9.57 times.
Earlier, the issue which was scheduled to close today but the closing has now been extended by a day. It will close on January 24, Wednesday. On Monday, markets were closed on account of the Ayodhya Ram Mandir consecration ceremony.

About Euphoria Infotech India IPO

It is entirely a fresh issue where the company is offering 960,000 shares with a minimum bid quantity of 1,200 shares. The maximum bid quantity for Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) is 912,000 shares. The company has fixed the price band at Rs 96-100 per equity share with the face value of Rs 10 per share.

Euphoria Infotech India IPO issue type

The issue type is book building.

Euphoria Infotech India IPO GMP

The shares were commanding a premium of Rs 75-80 in the grey market.

Euphoria Infotech India IPO timeline

The three-day issue will close on January 24, Wednesday. The basis of allotment is expected to be finalised on January 25 while the initiation of funds is on January 29. The shares will likely be credited into the demat accounts on the same day. The stock will likely be listed on January 30 on the SME platform of the BSE.

About Euphoria Infotech India

Incorporated in May 2001, Euphoria Infotech (India) is a full-stack IT and ITes solution provider based out at Kolkata, West Bengal and offers services in areas related to citizen-centric application, Enterprise Resource Planning (ERP), E-Commerce, Application programming interface (API), Internet of Things (IoT), cloud-based tools and application, data management among other things. The founder and Managing Director of the company is Shamba Bhanja.Euphoria Infotech India financials
As per Restated Financial Statements for the fiscal 2023, 2022 and 2021, our total revenues were Rs 7.37 crore, Rs 4.93 crore and Rs 5.56 crore, respectively. Company’s Profit after Tax for the respective periods stood at Rs 1.29 crore, Rs 21.71 lakhs and 23.91 lakhs, respectively. For the half year ended September 30, 2023, its total revenues were at Rs 3.65 crore and its profit after Tax was Rs 60.49 lakhs.

Euphoria Infotech India IPO proceeds

The company intends to utilise the net proceeds from the IPO towards working capital requirement and general corporate purposes.

Euphoria Infotech India lead managers

Khandwala Securities is a book running lead manager (BRLM) while Mas Services Limited is the registrar of the issue. The sponsor bank is Axis Bank.

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