Husys Consulting Limited - IPO Issue Opens on September 9, 2016
Author(s): City Air NewsHyderabad September 7, 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...
Hyderabad September 7, 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.
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 of608, 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, Registrar and Transfer Agent is KarvyComuptersharePvt Ltd, Hyderabad, Market Maker is Choice Equity Brokering Pvt Ltd and the Bankers of the issue are Yes Bank and Axis Bank.
The Company proposes to utilize the net proceeds from IPO capital 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, GundlapallyRamalinga Reddy, Founder& Managing Director, Husys Consulting Ltd, said “We have launched a Franchise program in India to catch-up with the growing needs of SMEs in 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 “Through the Company’s cloud based technologydriven by a combination of Social, Cloud, and Mobile technologies, commonly referred as SOCOMO;we would like to enable at least 10 lakhs of client employee users by Dec 2017.”
Husys posted total revenues of Rs 1245 lakhs in FY16 Vs Rs 926 lakhs in FY15. The company recorded a net profit of Rs 38.38 lakhs in FY 15-16 as compared to Rs 24.07 lakhs in FY14-15. (Financial Year ends on 31 March).