Markets

BSE Startups Platform opens with listings of Alphalogic, Transpact

Our Bureau Chennai | Updated on September 26, 2019 Published on September 05, 2019

Alphalogic Techsys and Transpact Enterprises became the first companies to get listed on the BSE Startups Platform on Thursday. The BSE had become the first stock exchange to get the approval from SEBI and launch its Startups platform in December 2018.

Shares of Pune-based Alphalogic closed at ₹84.35 against the issue price of ₹84 with 21,000 shares changing hands. The market lot for the stock is 1,600 shares. The Alphalogic stock moved in ₹82-84 range during the day.

Shares of Transpact Enterprises closed at ₹131 agianst the issue price of ₹130 with a trading volume of 6,000 shares. The market lot for Transpact Enterprises is 1,000 shares. The stock opened at ₹132.5 and settled at the day’s low.

Alphalogic Techsys, a technology services and technology solutions company, came out with an initial public offering of 7.36 lakh shares of ₹10 each for cash at a price of ₹84, aggregating to ₹6.18 crore. Clients range from start-ups to established companies engaged in healthcare, software, e-commerce, fintech, social networking and other industries.

Transpact Enterprises came out with an initial public offering of 1.04 lakh shares at a price of ₹130 a share, aggregating to ₹1.35 crore.

Transpact Enterprises is a Mumbai-based medtech start-up with focus on providing innovative, cost-effective and comprehensive solutions, products with strategic partnerships and collaborative relationships to help specially-abled people to transcend their barriers.

The total market capitalisation of these companies as on September 5 is ₹28.33 crore.

Criteria

The BSE has launched its start-up listing platform in December 2018 to facilitate funding for deserving start-ups by enabling them to raise capital from the market.

The companies seeking listing on the BSE start-ups platform should be in the business of IT, ITES, bio-technology and life sciences, 3D printing, space technology, e-commerce, hi-tech defence, drones, nano technologies, artificial intelligence, big data, enhance/virtual reality, e-gaming, exoskeleton, robotics, holographic technology, genetic engineering and other high-technologies.

For listing on the BSE start-up platform, the start-up should be registered with MSME/DIPP or have a minimum paid-up capital of ₹1 crore.

The company should have been operational for a minimum of two years before the date of filing; it should have a positive net worth among other financial criteria. The post issue paid-up capital of the company (face value) shall not be more than ₹25 crore.

Published on September 05, 2019

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