Startup Tranway Technologies' IPO kicks off
The company intends to raise Rs 4.2 crore by offering 42,40,000 fresh shares with a face value of Rs 10 each.
By ETMarkets.com | Updated:
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NEW DELHI: The initial public offer (IPO) by IT consulting services firm Tranway Technologies kicked off on Monday.
The company intends to raise Rs 4.2 crore by offering 42,40,000 fresh shares with a face value of Rs 10 each.
Founded in 2015, Tranway Technologies is a provider of IT consulting services and emerging technology solutions. Besides, the company provides product development & support and IT & non-IT staffing solutions to enterprises.
The company reported Rs 5 crore revenue in FY19.
“With this IPO, we aim to scale up the business, expand our team and market presence. I am confident that the proceeds from the issue will help us achieve these objectives,” Founder, and MD, Bharat said in a media release.
Finshore Management Services has been appointed as the lead manager for the issue.
The issue will close on Wednesday.
The company intends to raise Rs 4.2 crore by offering 42,40,000 fresh shares with a face value of Rs 10 each.
Founded in 2015, Tranway Technologies is a provider of IT consulting services and emerging technology solutions. Besides, the company provides product development & support and IT & non-IT staffing solutions to enterprises.
The company reported Rs 5 crore revenue in FY19.
“With this IPO, we aim to scale up the business, expand our team and market presence. I am confident that the proceeds from the issue will help us achieve these objectives,” Founder, and MD, Bharat said in a media release.
Finshore Management Services has been appointed as the lead manager for the issue.
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The issue will close on Wednesday.
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