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:
- Funding the working capital requirement;
- Acquisitions of businesses in similar or complementary areas
- General Corporate Purposes
- Offer Expenses
Financial Highlights (Restated)
| Particulars | The period ended on 31st Dec. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 4,845 | 2,827 | 1,976 | 1,500 |
| Total Assets | 8,658 | 6,479 | 4,630 | 4,081 |
| Reserve & Surplus | 3,054 | 1,972 | 1,026 | 1,025 |
| Total Borrowings | 255 | 1,027 | 61 | 422 |
| Total Revenue | 58,416 | 48,372 | 30,296 | 32,362 |
| Profit After Tax | 1,997 | 1,553 | 476 | 676 |
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 Type | Book Built Issue IPO |
| IPO Price | ₹ 169 to ₹ 173 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 800 shares |
| Issue Size | 6,077,600 shares (aggregating up to ₹ 105.14 crores) |
| Fresh Issue | 5,185,600 shares (aggregating up to ₹ [.] crores) |
| Offer for Sale | 892,000 shares of ₹ 10 each (aggregating up to ₹ [.] crores) |
| Listing At | NSE SME |
| Company Promoters | Mr Sidharth Agarwal and Mr Vidur Gupta |
Market Maker
The market maker portion of 304,000 equity shares is added to the NII reservation.
| Market maker | Rikhav Securities |
| Market maker portion | 52,000 shares |
IPO Reservation
| Categories | No. of shares offered |
|---|---|
| QIB shares offered | Not more than 50% of the net issue |
| NII (HNI) shares offered | Not less than 15% of the net issue |
| Retail shares offered | Not 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 Date | June 9, 2023, |
| Closing Date | June 14, 2023 |
| Basis of Allotment | June 19, 2023 |
| Initiation of Refunds | June 20, 2023 |
| A credit of shares to Demat A/c | June 21, 2023 |
| Listing Date | June 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.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 800 | ₹ 138,400 |
| Retail (Maximum) | 1 | 800 | ₹ 138,400 |
| HNI (Minimum) | 2 | 1,600 | ₹ 276,800 |
Promoters Holdings
| Pre-issue Shares Holdings | 100% |
| Post-issue Shares Holdings | 72.25% |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Spectrum 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 Registrar | Skyline Financial Services Private Ltd Phone: 02228511022 Email: [email protected] Website: https://www.skylinerta.com/ |
| IPO Lead Manager(s) | Sarthi Capital Advisors Private Limited |
FAQs
What is Spectrum Talent Management’s IPO price?
The Spectrum Talent Management IPO price is ₹ 169 to ₹ 173 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Spectrum Talent Management IPO contains 800 shares of ₹ 138,400.
When will the Spectrum Talent Management IPO allotment be available?
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.
When will the Spectrum Talent Management IPO list on exchanges?
The Spectrum Talent Management IPO shares listing date is June 22, 2023.
How many Spectrum Talent Management IPO Offer shares are reserved for HNIs and retail investors?
The investors’ portion for QIB is 50% of the Net Issue, NII (HNI) is 15% of the net issue, and Retail is 35%.
Interesting page. I really like the topic covered here. I'll check back from time to time for more posts like…