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Spectrum Talent Management IPO GMP, Price, Dates & Allotment Details 2023

Spectrum Talent Management IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Spectrum Talent Management IPO will open on June 9 and close on June 14, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 105.14 crores through this public offering, consisting of 60.77 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 169 to ₹ 173 per share.

Spectrum Talent Management Limited (“the Company”)

The company was incorporated in 2012. Spectrum Talent Management Limited is a renowned human resource and staffing service provider. They offer a wide array of services, such as recruitment, payroll, onboarding, and flexible staffing. Its comprehensive network, structured processes, professionalism, and strong work ethic ensure that the company remains at the top on a global scale. The company serves more than 275 clients in domestic and offshore markets. The company has 15,606 personnel deployed at various locations for its clients.

Company Strength

  • Tech Driven organization within House Technology for servicing deputed staff/employees
  • Zero Debt/Little Leverage
  • Flat hierarchy structure giving excellent decision-making flexibility

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. Funding the working capital requirement;
  2. Acquisitions of businesses in similar or complementary areas
  3. General Corporate Purposes
  4. Offer Expenses

Financial Highlights (Restated)

ParticularsThe period ended on 31st Dec. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth4,8452,8271,9761,500
Total Assets8,6586,4794,6304,081
Reserve & Surplus3,0541,9721,0261,025
Total Borrowings2551,02761422
Total Revenue58,41648,37230,29632,362
Profit After Tax1,9971,553476676
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 51.85 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 304,000 shares of the offering. While Sarthi Capital Advisors Private Limited will be the lead manager for the IPO, Skyline Financial Services 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₹ 169 to ₹ 173 per share
Face Value₹ 10 per share
Market Lot800 shares
Issue Size6,077,600 shares (aggregating up to ₹ 105.14 crores)
Fresh Issue5,185,600 shares (aggregating up to ₹ [.] crores)
Offer for Sale892,000 shares of ₹ 10 each (aggregating up to ₹ [.] crores)
Listing AtNSE SME
Company PromotersMr Sidharth Agarwal and Mr Vidur Gupta

Market Maker

The market maker portion of 304,000 equity shares is added to the NII reservation.

Market makerRikhav Securities 
Market maker portion52,000 shares

IPO Reservation

CategoriesNo. of shares offered
QIB shares offeredNot more than 50% of the net issue
NII (HNI) shares offeredNot less than 15% of the net issue
Retail shares offeredNot less than 35% of the net issue

GMP: Spectrum Talent Management 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: Spectrum Talent Management IPO

The issue opens for subscription on June 9, 2023, and closes for subscription on June 14, 2023 (both days inclusive). The basis of allotment will be finalised on June 19, 2023, and the refunds will be initiated on June 20, 2023. In addition, the demat credits are expected to happen on June 21, 2023, and the stock will be listed on the NSE SME on June 22, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateJune 9, 2023,
Closing DateJune 14, 2023
Basis of AllotmentJune 19, 2023
Initiation of RefundsJune 20, 2023
A credit of shares to Demat A/cJune 21, 2023
Listing DateJune 22, 2023

Lot Size

The lot size of the Spectrum Talent Management IPO is 800 shares. A retail-individual investor can apply for up to 1 lot, i.e. 800 shares of ₹ 138,400.

ApplicationsLotsSharesAmount 
Retail (Minimum)1800₹ 138,400
Retail (Maximum)1800₹ 138,400
HNI (Minimum)21,600₹ 276,800

Promoters Holdings 

Pre-issue Shares Holdings100%
Post-issue Shares Holdings72.25%

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationSpectrum Talent Management Limited
B- 46, Retreat Apartments,20, I.P Extension, Delhi-110092
Phone: 0120-4258857
Email: [email protected]
Website: http://www.stmpl.co.in/
IPO RegistrarSkyline Financial Services Private Ltd
Phone: 02228511022
Email: [email protected]
Website: https://www.skylinerta.com/
IPO Lead Manager(s)Sarthi Capital Advisors Private Limited

FAQs

The Spectrum Talent Management IPO price is ₹ 169 to ₹ 173 per share.

The minimum investment size is one lot for retail investors. One lot of the Spectrum Talent Management IPO contains 800 shares of ₹ 138,400.

The finalisation of the basis of allotment for the Spectrum Talent Management IPO will be done on June 19, 2023, and the allotted shares will be credited to your demat account by June 21, 2023. Check the Spectrum Talent Management IPO allotment status.

The Spectrum Talent Management IPO shares listing date is June 22, 2023.

The investors’ portion for QIB is 50% of the Net Issue, NII (HNI) is 15% of the net issue, and Retail is 35%.

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