The initial public offer (IPO) of boutique software consulting firm Alphalogic Techsys was subscribed 64 per cent on the first day of the bidding process.

The IPO with issue size of Rs 6.18 crore, received bids for 4,70,400 Shares against the total issue size of 7,36,000 shares as per the BSE data.

The category reserved for Non Institutional Investors (NIIs) which include HNI's and Corporates subscribed 125%, whereas retail individual investor category got subscribed 11%.

The company has fixed a price of Rs 84 per share. The issue will close on Wednesday. Alphalogic’s IPO comprises of a fresh issue aggregating up to Rs 6.18 crore and an offer for sale of up to 7,36,000 equity shares.

Finshore Management Services Limited is the book-running lead managers to the offer.

Alphalogic Techsys Limited is a boutique Software Consulting Firm that helps its clients with their digital transformation needs. Alphalogic' motto is "Making Software Simple". Alphalogic has its development centre in Pune, India but serves its customers globally. Alphalogic works with clients from early stage start-ups to established SMB's and Fortune 500s from over 12 countries.

It was in November last year, when BSE Startups Platform was rolled out for entrepreneurs to list their new-age companies on BSE.

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