Bombay Stock Exchange Accepts IPO Offer of Alphalogic Techsys Limited under its Startup Platform
Alphalogic becomes one of the first two startups that qualify for the BSE Startup Platform for launching their own IPO. The Pune based tech company has already launched its Draft Prospectus and is all set to launch its IPO next month.
Pune, July 19, 2019 – The Bombay Stock Exchange launched its BSE Startup Platform in December 2018 with an objective to promote startups and entrepreneurs to get listed and raise capital for growing their business. Recently, BSE approved two business entities for launching their IPO. Pune based Alphalogic Techsys Limited is one of the two companies that is going to the public with the help of the BSE Startup Platform.
In a recent event organized by the BSE during the World SME Day the Draft Red Herring Prospectus (DRHP) of Alphalogic was unveiled by the Finance Minister of the State of Maharashtra, Shri Sudhir Mungantiwar along with the Employment Minister of the state, Shri Jayakumar Rawal. Mr. Anshu Goel, Managing Director of Alphalogic and Mr. Dhananjay Goel, Director of the company were also present on the occasion along with Mr, Ashishkumar Chauhan, MD & CEO of BSE and Mr. Ajay Thakur, the Head of the BSE-SME Platform. The DRHP of Alphalogic can be accessed here: https://www.startupsbse.com/downloads/Alphalogic_Techsys_Limited.pdf).
The MD of Alphalogic, Mr. Anshu Goel is very confident of getting a huge response from the market, once the company's IPO will be launched. According to him, "We have been doing business with complete integrity and following the code of ethics. It's our stringent policy to follow the compliance that makes us eligible for the IPO under the BSE Startup Platform. It's a new beginning in the saga of the startup ecosystem of the country, and we are proud to be a torchbearer."
The BSE Startup Platform evaluate the listing applications from start-up companies from different the sectors, such as IT, ITES, Artificial Intelligence, Big data, E-Commerce, Virtual Reality, Bio-technology and Life Science, 3D Printing, Space technology, Hi- Tech Defense, Nano Technologies and others. Only business entities registered as start-up with the MSME/DIPP can apply for their IPO under this platform. However, if the company is not registered as a start-up with the MSME/DIPP, then it should have a paid-up capital of minimum Rs. 1 crore.
Alphalogic Techsys Limited has fulfilled all the necessary criteria to qualify for the IPO and they are all set to become the first startup to launch their IPO under the BSE Startup Platform. One can learn more about the company by visiting their website https://www.alphalogicinc.com/.
ABOUT ALPHALOGIC TECHSYS LIMITED
Alphalogic Techsys Limited is a Software Solutions Company with its development center in Pune. Alphalogic helps its clients with their digital transformation needs. The company provides a range of services including Product re-engineering, Prototyping, Mobile Application development, SAAS software development, Data Analytics & BI, Artificial Intelligence, etc. Alphalogic's clients range from early stage startups to Fortune 500 companies.
Alphalogic was established in April 2016 and since then growing at a fast pace. Though, Alphalogic commenced its operations 3 years ago, the founders of the Company have been running the business in the same space for more than 10 years. The collective experience of the founders in the Information Technology space is of more than 2 decades and which is helping the company to grow by leaps and bounds.
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Contact Person: Vedant Goel