Husys Consulting Limited IPO opens on September 9, 2016
Hyderabad-based leading HR Services Company Husys Consulting Ltd will launch IPO on September 9, 2016. Husys is all set to offer its equity to Public through fresh IPO on NSE – EMERGE designed for SME’s in India, making it the first HR Company and also the first ever company from Telangana State to be listed on the platform.
- Husys Consulting Limited IPO opens on September 9, 2016 with Price of Rs. 69 per Equity Share
- Fresh issue of Equity Shares aggregating to Rs.4.19 Cr
- The minimum bid lot is 2000 equity shares and in multiples thereafter
- Issue opening – September 9, 2016 and Issue closing – September 19, 2016
- The shares will be available with the symbol “HUSYSLTD” on NSE-EMERGE platform via DEMAT account
The subscription opens on September 9, 2016 (Friday) and closes on September 19, 2016 (Monday). The IPO issue price is Rs 69 and issue type is Fixed Price. The company will raise Rs. 4.19 crore through the public offer of 608, 000 equity shares. The minimum lot size is 2000 shares and in multiples thereafter.
The Lead Manager of the issue is Sarthi Capital Advisors Pvt. Ltd, Mumbai while Yes Bank and Axis Bank have been appointed as the bankers of the issue.
The Company proposes to utilize the net proceeds from IPO capital shall to be used in repaying working capital facilities of the company; development of cloud based HR Software platform, and up-gradation of the existing IT infrastructure for four existing branches; expansion in both domestic and international markets.
Commenting on the IPO launch, Gundlapally Ramalinga Reddy, Founder & Managing Director, Husys Consulting Ltd, said “We have launched a Franchise program in India to catch-up with the growing needs of India. Through this program we would like to reach 25 cities in this financial year and 75 cities in next two years.” Outlining vision of the company Mr. Reddy said that through the Company’s cloud based technology, it would like to enable at least 10 lakhs of client employee users by Dec 2017. The Company targets to expand into other countries in the next two-three years, where SME’s are more and key for growth of such countries.
Husys is working towards a potential of $ 3 Billion market and targeting a market size of 50 million SME / MSME’s which contributes to around 40% of the employment