IPO News: The second largest SME IPO will open on May 22 - know the full details

News Topical, Digital Desk : Mumbai-based Unified Data-Tech Solutions will launch its initial public offering (IPO) on May 22 in a price band of Rs 260-273 per share. This will be the second largest SME IPO in the current year after CapitalNumbers Infotech. The IT solutions provider company is planning to raise Rs 144.47 crore through a pub of 52.92 lakh shares at the upper price band. The IPO consists entirely of an offer for sale by promoter Hiren Rajendra Mehta.

The entire amount of the IPO will go to the selling shareholder. The company will not receive any money from the public issue. The anchor book for institutional investors will be launched on May 21, while the issue for public subscription is going to close on May 26. Share allotment will be finalized by May 27, while trading in Unified Data-Tech Solutions shares will begin on BSE SME from May 29. About the company  Unified Data-Tech Solutions, founded in 2010, with a valuation of Rs 548.46 crore, provides a range of IT solutions including data center infrastructure, virtualization, data protection, networking, cyber security and secure application delivery, and serves a wide range of industries such as banking, finance, insurance, manufacturing, pharmaceuticals, IT and IT-enabled services. The book running lead manager handling the public issue is Hem Securities. 
 

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