Recently, Bombay Stock Exchange (BSE) organized an SME summit on the World SME Day to celebrate the 300th listing on the BSE SME Platform, a dedicated platform for listing of startups and thereby making stock market listing attractive for startups in the country.
BSE then accepted the IPO applications for first two companies for the BSE Startups Platform. One of the two startups whose IPO application got approved is, Alphalogic Techsys Limited, which is coming up with an IPO and planning to get listed on the BSE Startup platform.
Pune-based Alphalogic would be one the first startup companies to get listed on the BSE Startup platform, after the approval. Alphalogic has its development center in Pune and Sales office at Arlington, USA.
The company submitted its DRHP (Draft Red Herring Prospectus) to the Bombay Stock Exchange on June 27, 2019 during the SME summit organised by the BSE on the World SME Day in Mumbai. The prospectus was unveiled by Hon. Finance Minister of Maharashtra Shri Sudhir Mungantiwar and Hon. Employment Minister of Maharashtra Shri Jayakumar Rawal.
The BSE Startups Platform was rolled out for entrepreneurs, in November last year, to list their new-age companies on BSE. This has been seen an attempt to give a fresh impetus to the Indian startup eco-system. Alphalogic is very confident to get listed on this BSE startup platform. The company has been instrumental in empowering its clients to adapt to the digital transformational needs by offering them solutions based on the latest technologies, such as artificial intelligence, automation, data analytics, machine learning, M-to-M communication and so on. With a large clientele in India and overseas, Alphalogic is hopeful of winning the investor’s trust, once the IPO will be rolled out.
The company’s IPO is expected to come out in the month of August this year. One can learn more about the company by visiting their website https://www.alphalogicinc.com/.
Established in April 2016, Alphalogic Techsys Limited is a Software Solutions Company with its development center in Pune. Alphalogic helps its clients with their digital transformation needs. The company provides a range of services including Product re-engineering, Prototyping, Mobile Application development, SAAS software development, Data Analytics & BI, Artificial Intelligence, etc. Alphalogic’s clients range from early stage startups to Fortune 500 companies.
The founders of the Company have been running the business in the same space for more than 10 years. The collective experience of the founders in the Information Technology space is of more than 2 decades and which is helping the company to grow by leaps and bounds.
To recall, few days back Hyderabad-based micro-finance lender Spandana Sphoorty Financial had raised Rs. 360.28 crore from 18 anchor investors and announced that its IPO will open on August 5.