Quicktouch Technologies Limited

The company is coming out with a maiden IPO of 1530000 equity shares of Rs. 10 each at a fixed price of Rs. 61 per share to mobilize Rs. 9.33 cr. The issue opens for subscription on April 18, 2023, and will close on April 21, 2023. The minimum application is to be made for 2000 shares and in multiples thereon, thereafter. Post allotment, shares will be listed on NSE SME. The issue constitutes xx% of the post-IPO fully diluted paid-up equity capital of the company. QTL is spending Rs. 0.25 cr. for this IPO process and from the net proceeds, it will utilize Rs. 6.28 cr. for working capital, Rs. 1.40 cr. for the acquisition of the business in similar or complementary areas, and Rs. 1.40 cr. for general corporate purposes.  For this IPO, we have two joint lead managers i.e. Share India Capital Services Pvt. Ltd. and Khambatta Securities Ltd. while Skyline Financial Services Pvt. Ltd. is the registrar of the issue. Share India group company Share India Securities Ltd. is the market maker for the company.  Having issued initial equity at par, the company issued further equity shares at a price of Rs. 110 per share in June 2022 and has also issued bonus shares in the ratio of 9 for 10 in March 2022, and 1 for 1 in June 2022. The average cost of the acquisition of shares by the promoters is Rs. 2.63 per share.  Post-IPO, QTL's current paid-up equity capital of Rs. 4.25 cr. will stand enhanced to Rs. 5.78 cr. Based on the IPO pricing, the company is looking for a market cap of Rs. 35.26 cr.