Quicktouch Technologies Issues Warrants Worth Rs 215.78 Cr After 7 Months of Listing

Quicktouch Technologies which made its market debut on Tuesday, May 2, 2023 has announced issuance of upto 1,10,00,000 warrants each convertible into, or exchangeable for, 1 fully paid-up equity share of the company, having a face value of Rs 10/- within the period of 18 at an issue price of 196.17/ each payable in cash aggregating amount of up to Rs 215.78 Cr.

Out of the total warrants, 30,00,000 warrants were issued to the promoters group and 80,00,000 to the non-promoter group of the company.

The Board of Directors of the Company at its meeting held on Thursday, 16th November considered and approved "To issue upto 1,10,00,000 (One Crore and Ten Lakhs) warrants each convertible into, or exchangeable for, 1 (one) fully paid up equity share of the Company, having a face value of INR 10/- (Rupee Ten only) within the period of 18 (eighteen months) in accordance with the applicable laws ("Warrants") at an issue price of 196.17/- (Rupees One Ninety Six and Seventeen Paisa only) each payable in cash aggregating amount of up to 215,78,70,000 (Rupees Two Hundred Fifteen Crores Seventy Eight Lakhs Seventy Thousand Only) to the Promoter/ Promoter Group of the Company and certain identified non promoter persons / entity," said Quicktouch Technologies in a regulatory filing.

In Quicktouch Technologies' SME IPO, 1,530,000 equity shares with a face value of Rs 10 were offered, raising a total of Rs 9.33 crores. 15.3 lakh shares were issued in total as a completely new offering. From April 18, 2023, to April 21, 2023, Quicktouch Technologies' IPO bidding was open. On Wednesday, April 26, 2023, the share allocation for the Quicktouch Technologies IPO was completed. May 2, 2023 saw the shares debut on NSE SME. The stock is now trading at Rs 205.90, up 237.54% from its issue price. The price band of the initial public offering (IPO) was set at Rs 61 per share.

Quicktouch Technologies Limited is an information technology company that was founded in 2013. In the IT solution sector, QuickTouch is the one-stop shop for business IT solutions and services, customised EduTech web portals and EduTech ERP, and mobile app development.