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The scrip was listed at 180, a premium of 26.76% over the initial public offer (IPO) price. The stock was currently frozen at its upper limit of 5% over its listing price. The counter hit a high of Rs 189 and a low of Rs 180. About 21.56 lakh shares of the company changed hands at the counter. Virtual Galaxy Infotech's IPO was subscribed 215.07 times. The issue opened for bidding on 9 May 2025 and it closed on 14 May 2025. The price band of the IPO was fixed between Rs 135 to Rs 142 per share. The IPO comprised fresh issue of 65,70,000 equity shares. The company intends to utilize the net proceeds for capital expenditure towards setting up an additional development facility in Nagpur, Maharashtra, repayment/prepayment of certain borrowings availed by the company, investment in procuring GPUs, servers, and storage systems for the data center, funding of expenditures related to the enhancement, maintenance, and upgrading of existing products through manpower hiring, funding for business development and marketing activities, and general corporate purposes. Ahead of the Virtual Galaxy Infotech on 8 May 2025, raised Rs 26.12 crore from anchor investors. The board has allotted 18.40 lakh shares at Rs 142 per share to 15 anchor investors. Virtual Galaxy Infotech is engaged in providing core banking software solutions, IT solutions, ERP implementation, and customized software development services, particularly catering to the BFSI, ERP, and e-Governance domains. The company is primarily involved in the development, customization, installation, and implementation of software applications, along with comprehensive post-implementation support, monitoring, and maintenance services for the delivered solutions. As on 31 December 2024, the company had a total strength of 329 employees on payroll basis. The company recorded revenue from operations of Rs 63.50 crore and net profit of Rs 16.54 crore for the period ended 31 March 2024. Powered by Capital Market - Live News |