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Infollion Research Services IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Expansion of the current service line in the US and Western European regions
  2. Pex-Panel: Adding new categories of freelancers
  3. Technology Development
  4. General Corporate Purposes

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth8541,043702
Total Assets1,8011,181849
Reserve & Surplus8541,042701
Total Revenue3,5302,2201,606
Profit After Tax558341208
(Amount in ₹ Lakhs)

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 TypeBook Built Issue IPO
IPO Price₹ 80 to ₹ 82 per share
Face Value₹ 10 per share
Market Lot1,600 Shares
Issue Size2,616,000 shares (aggregating up to ₹ 21.45 crores)
Fresh Issue2,224,000 shares (aggregating up to ₹ [.] crores)
Offer for Sale392,000 shares of ₹ 10 each (aggregating up to ₹ [.] crores)
QIB Shares OfferedNot more than 48.65% of the Net Offer
NII (HNI) Shares OfferedNot less than 16.30% of the Net Offer
Retail Shares OfferedNot less than 35.05% of the Net Offer
Market MakerHolani Consultants
Market maker portion132,800 shares
Listing AtNSE SME
Company PromotersMr 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 DateMay 29, 2023
Closing DateMay 31, 2023
Basis of AllotmentJune 5, 2023
Initiation of RefundsJune 6, 2023
A credit of shares to Demat A/cJune 7, 2023
Listing DateJune 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,600₹ 131,200
Retail (Maximum)11,600₹ 131,200
HNI (Minimum)23,200₹ 262,400

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationInfollion Research Services Limited
80/28, Malviya Nagar, New Delhi – 110017
Phone: 9836468248
Email: [email protected]
Website: http://www.infollion.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
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.

Click here for more FAQs.

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