Alphalogic Techsys becomes first Startup to migrate from BSE Startup Platform to BSE Mainboard
After being the first startup in the country to be listed on the BSE Startup Platform in September 2019, Alphalogic Techsys Limited is today set to become the first Startup to migrate from BSE Startup Platform to Mainboard of BSE
cityairnews
Dec 17, 2021 10:57
0
Pune, December 17, 2021: Pune based boutique software consulting firm, Alphalogic Techsys Limited today becomes the First Startup in India to migrate from BSE Startup Platform to Mainboard of BSE.
On the very first day of moving to the BSE Mainboard, the stock hit an intraday high of Rs. 46.85 with the net turnover during the day reaching at Rs. 8923304.00.
Alphalogic Techsys was the First Startup to list on BSE Startup Platform in September 2019. Instead of seeking VC funding, the Startup goes to the market and raises capital through the Initial Public Offer. This way, the company sets a new trend to influence the startup ecosystem in the country. Alphalogic Techsys Ltd raised funds through its IPO in August 2019.
Since its listing in September 2019, the shares of Alphalogic Techsys delivered 212% returns to its investors. On Tuesday, the share of Alphalogic Techsys Ltd was last trading in BSE at Rs. 35.50 as compared to the previous close of Rs. 30.10. The total number of shares traded during the day was 71040.
The Company has announced that it would be considering a proposal of fund raising by issuance of equity shares or any other securities through one or more permissible modes. The Company will also consider increase in its Authorized Share Capital in its meeting to be held on December 17, 2021.
AlphalogicTechsys works in the areas of SAAS, Fintech, Artificial Intelligence and Mobility.
What does this migration of AlphalogicTechsys Limited mean for the investors?
The company is migrating from the BSE start-up platform to the BSE mainboard, which means investors can now buy and sell even a single share of this company. Till now, if an investor wishes to buy shares of this company, one had to buy a lot of 11,840 shares. Starting December 16, investors can trade a minimum of one share of the company.
