Trafiksol ITS Technologies IPO listing: Shares of Trafiksol ITS Technologies, which were supposed to make their D-Street debut on the bourses today, September 17, 2024 on BSE SME has been posponed.
“The listing of equity shares of Trafiksol ITS Technologies Limited for September 17, 2024 has been postponed till certain queries that have been raised are resolved by the issuer. Market participants are requested to please make note,” BSE said in a post on X (formerly Twitter).
However, the reason for this delay has not been disclosed by the exchange.
The initial public offering (IPO) of TrafikSol ITS Technologies, valued at approximately ₹45 crore, was open for subscription from September 10 to September 12, 2024, with a price range of ₹66-70 per share.
During the three-day bidding period, the IPO saw overwhelming demand, receiving a total subscription of 345.65 times. Investors placed bids for 147.45 crore equity shares against the 42.66 lakh shares available. The retail category was subscribed 317.66 times, while the Non-Institutional Investor (NII) quota reached 699.40 times. The Qualified Institutional Buyer (QIB) portion also saw strong interest, with 129.22 times subscriptions.
IPO Details
The SME IPO consisted of a fresh issue of 64.1 lakh shares. The company plans to use the proceeds for software purchases, partial or full repayment of certain borrowings, working capital requirements, and general corporate purposes.
Retail investors were required to apply for a minimum of 2,000 shares, with an investment of ₹140,000. High Net-Worth Individuals (HNIs) needed to apply for at least two lots (4,000 shares), totaling ₹280,000.
Ekadrisht Capital Private Limited acted as the book-running lead manager, Maashitla Securities Private Limited was the registrar, and Ss Corporate Securities was the market maker for the IPO.
About TrafikSol ITS Technologies
TrafikSol ITS Technologies Limited, founded in 2018, specializes in intelligent transportation systems (ITS) and automation solutions. The company offers a range of services, including software development, consulting, and delivery. TrafikSol provides both ready-made and custom software solutions for various platforms, such as operating systems, business applications, and computer games, with a focus on analyzing user needs to create tailored solutions and provide ongoing support.
As an EPC (Engineering, Procurement, and Construction) firm, TrafikSol handles projects related to Advanced Traffic Management Systems (ATMS), Toll Management Systems (TMS), and Tunnel Management Systems.
Financially, TrafikSol has demonstrated strong performance, with an 80% revenue growth and a 153% increase in profit after tax (PAT) for the financial year ending March 31, 2024, compared to the previous year.
