Euphoria Infotech India IPO: Check Out Price Band, Issue Size & More


by Sandip Das on 19 January 2024,  5 min read

Euphoria Infotech India IPO: Check Out Price Band, Issue Size & More - MyDhanush Blogs by Ashika

The initial public offering (IPO) of Euphoria Infotech India opened for subscription on January 19, 2024. The issue will close on January 23, 2024. The company has fixed the price band at Rs 96-100 per equity share with a face value of Rs 10. Investors can bid for a minimum quantity of 1,200 shares while the maximum bid quantity for qualified institutional investors is 9,12,000 shares. The maximum bid quantity for non-institutional investors has been fixed at 9,12,000 shares.

About the company

Shamba Bhanja, the founder and Managing Director of Euphoria Infotech (India), established the company in May 2001. The company, headquartered in Kolkata, West Bengal, is a full-stack IT and ITes solution provider offering services in areas such as citizen-centric applications, Enterprise Resource Planning (ERP), E-Commerce, Application Programming Interface (API), Internet of Things (IoT), cloud-based tools and applications, and data management, among other things.

Price Band

The company has fixed the price band at Rs 96-100 per equity share

Also read: Medi Assist Healthcare IPO: Issue Subscribed 16.24 Times; QIB Portion Booked 40.14 Times on Final Day

Issue Size

The company is offering 9,60,000 shares in an entirely fresh issue for its IPO, with a minimum bid quantity set at 1,200 shares. Qualified Institutional Buyers (QIBs) and Non-Institutional Investors (NIIs) can bid for a maximum of 9,12,000 shares.

Company Financials
Particulars Period ended Sept 30, 2023 (Rs in Lakhs) Period ended March 31, 2023 (Rs in lakhs)
Revenue from operations 365.48 736.73
Other Income 0.13 0.83
Total revenue 365.61 737.56
Profit 60.49 129.69
IPO Reserve Portion

The company has allocated not more than 3.03 percent for qualified institutional buyers (QIBs) not less than 67.89 percent for retail investors, and not less than 29.08 percent for high-networth individuals (HNIs).

Objectives of the Issue

Euphoria Infotech India intends to utilize the net proceeds from the IPO towards working capital requirements and general corporate purposes.

Disclaimer: The information provided in this blog post is for informational purposes only and should not be construed as investment or trading advice. The author is not a financial advisor and does not have any professional qualifications in this area. The author does not guarantee the accuracy or completeness of the information provided. Any action you take based on the information in this blog post is done at your own risk. Please consult with a financial advisor before making any investment decisions.

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