Globtier Infotech shares list at 20% discount to IPO price on BSE SME platform

Shares of Globtier Infotech, a managed IT and SAP support services provider, debuted on the BSE SME platform at Rs 57.6 on Tuesday, marking a 20% discount to the IPO price of Rs 72. After the discounted listing, the stock further slipped to hit 5% lower circuit at Rs 54.72. The Rs 31.05 crore IPO, which closed on August 28, saw modest demand with 1.34 times overall subscription. While the retail portion was fully subscribed, the issue showed no grey market premium ahead of listing.

IPO details

The IPO comprised a fresh issue of 35.87 lakh shares worth Rs 27.44 crore and an offer for sale (OFS) of 5.01 lakh shares worth Rs 3.61 crore. The issue was priced at Rs 72 per share with a lot size of 1,600 shares. Post issue, the company’s market capitalisation stands at Rs 109 crore.

Subscription status

The IPO received bids for 54.67 lakh shares against 40.88 lakh on offer, translating to 1.34 times subscription.

The retail investor category subscribed 2.04 times, showing strong interest from individual investors. However, demand from high net worth individuals was weak, with the NII portion subscribed only 0.63 times. There was no QIB participation reported.

About the company

Founded in 2012, Noida-based Globtier Infotech is a managed IT and SAP support services provider, catering to small, midsize, and startup enterprises. The company provides IT facilities management, application support, custom app development, digital transformation, cloud solutions, and cybersecurity services.

Over the past decade, the company has built a client-centric reputation with long-term relationships and customised solutions.

Financial performance

Globtier reported a 7% rise in revenue to Rs 94.81 crore in FY25 compared with Rs 88.27 crore in FY24. Profit after tax jumped 47% to Rs 5.50 crore in the same period. Key ratios highlight the company’s improving financial position: ROE at 31.55%, ROCE at 47.68%, and RoNW at 31.55%.

IPO objectives

The company intends to use the net proceeds to fund working capital requirements (Rs 11.5 crore), repay loans worth Rs 8.3 crore, and for general corporate purposes.

The stock’s performance post-listing will hinge on its ability to sustain growth momentum and manage profitability in a crowded IT services space.

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