Infollion Research Services IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Infollion Research Services IPO opens on May 29 and closes on May 31, 2023. According to the DRHP filed in SEBI, the company plans to issue 26.16 lakhs shares through this public issue.
Infollion Research Services Limited (“the Company”)
Incorporated in 2009. Infollion Research Services Limited is a tech-oriented marketplace operating in the B2B Human Cloud segment, catering to on-demand contingent hiring and work arrangements with senior management talent, subject matter experts, and high-ranking, seasoned professionals. They provide a platform for workers or knowledge providers (gig workers) and employers or knowledge seekers to connect and find synergetic outcomes.
Its key clients include top-tier global management consulting firms, renowned private equity funds, hedge funds, and mid-tier corporations.
They operate in the premium segment of the gig economy and are one of the enablers of contingent hiring, temporary workforce management, contracting SOW employees, high-level independent consultations, knowledge tours, and more.
Company strength
- The accomplished leadership team and qualified workforce
- Long-lasting business relationships
- Comprehensive talent pool
- Strong research capabilities
- Value-Added Services
Objects of the Issue,
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Expansion of the current service line in the US and Western European regions
- Pex-Panel: Adding new categories of freelancers
- Technology Development
- General Corporate Purposes
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 854 | 1,043 | 702 |
| Total Assets | 1,801 | 1,181 | 849 |
| Reserve & Surplus | 854 | 1,042 | 701 |
| Total Revenue | 3,530 | 2,220 | 1,606 |
| Profit After Tax | 558 | 341 | 208 |
IPO details
As per the DRHP filed with SEBI, 22.24 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 132,800 shares of the offering. While Holani Consultants Private Limited will be the lead manager for the IPO, Link Intime India Private Ltd. will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 80 to ₹ 82 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1,600 Shares |
| Issue Size | 2,616,000 shares (aggregating up to ₹ 21.45 crores) |
| Fresh Issue | 2,224,000 shares (aggregating up to ₹ [.] crores) |
| Offer for Sale | 392,000 shares of ₹ 10 each (aggregating up to ₹ [.] crores) |
| QIB Shares Offered | Not more than 48.65% of the Net Offer |
| NII (HNI) Shares Offered | Not less than 16.30% of the Net Offer |
| Retail Shares Offered | Not less than 35.05% of the Net Offer |
| Market Maker | Holani Consultants |
| Market maker portion | 132,800 shares |
| Listing At | NSE SME |
| Company Promoters | Mr Gaurav Munjal |
GMP: Infollion Research Services IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Infollion Research Services IPO
The issue opens for subscription on May 29, 2023, and closes for subscription on May 31, 2023 (both days inclusive). The basis of allotment will be finalised on June 5, 2023, and the refunds will be initiated on June 6, 2023. In addition, the demat credits are expected to happen on June 7, 2023, and the stock will list on June 8, 2023, on the NSE SME. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day (May 31, 2023).
| Opening Date | May 29, 2023 |
| Closing Date | May 31, 2023 |
| Basis of Allotment | June 5, 2023 |
| Initiation of Refunds | June 6, 2023 |
| A credit of shares to Demat A/c | June 7, 2023 |
| Listing Date | June 8, 2023 |
Lot Size
The lot size of the Infollion Research Services IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 131,200.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,600 | ₹ 131,200 |
| Retail (Maximum) | 1 | 1,600 | ₹ 131,200 |
| HNI (Minimum) | 2 | 3,200 | ₹ 262,400 |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Infollion Research Services Limited 80/28, Malviya Nagar, New Delhi – 110017 Phone: 9836468248 Email: madhumita.pramanik@infollion.com Website: http://www.infollion.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: infollionresearch.ipo@linkintime.co.in Website: https://linkintime.co.in/ |
| IPO Lead Manager(s) | Holani Consultants Private Limited |
FAQ’s
The finalisation of the basis of allotment for the Infollion Research Services IPO will be done on June 5, 2023, and the allotted shares will be credited to your demat account by June 7, 2023. Check the Infollion Research Services IPO allotment status.
The Infollion Research Services IPO shares listing date is June 8, 2023.
The investors’ portion for QIB is 46.65% of the Net offers, NII (HNI) is 16.30%, and retail is 35.05% of the offer.
