India's first startup IPO by Alphalogic Techsys sails through

The initial public offering by software consulting firm Alphalogic Techsys got fully subscribed on Day 2 of the bidding process. The desi startup is India’s first enterprise to float a startup IPO.

The Pune-based firm received bids for 7,60,000 shares against the total issue size of 7,36,000 shares as per the BSE data. The category reserved for non-institutional investors (NII) was 1.95 times while the quota for retail individual investors was subscribed 23 per cent.

The company has fixed the issue price for Rs 6.18 crore IPO at Rs 84 per share. The issue will close on Wednesday.


The company has interests across segments such as mobile app development, web application development, business intelligence and data analytics. In the past, it offered services to the US government, Merck India, Payback Card and several other companies across India, Australia, US and the UK.

Markets regulator Sebi in February paved the way for a separate platform for startups to provide young companies easier access to capital and a way to bring in a new class of investors.