Meta Infotech Lists at ₹225, Delivers 40% Premium Over IPO Price

New Delhi, Jul 11 – Shares of cybersecurity solutions provider Meta Infotech made a strong debut on the stock markets (BSE SME Platform) with a listing price of ₹225 per share. This implies a listing premium of around 40% over the IPO price of ₹161. This positive, sharp listing gain reflects strong investor demand and positive sentiment in the SME space. Investors who were allotted shares during the IPO made a listing day profit of ₹51,200 per lot (800 shares).

The ongoing strong demand for cybersecurity-themed stocks and investor appetite for high-growth SMEs are two critical reasons for the strong listing of the stock. At 11:45 AM, the share price had surged slightly higher to ₹236 (around 47% higher than the IPO price).

IPO Details and Subscription

The Meta Infotech IPO consisted of a fresh issue of 124.5 million equity shares aggregating ₹20.04 crore, and an offer for sale (OFS) of up to 373.5 million shares worth ₹60.13 crore by promoter Venu Gopal Peruri.

The public offering was open for subscription from July 4 to July 8, with a price band of ₹153 to ₹161 per share and a minimum lot size of 800 shares. The IPO saw robust investor demand, being oversubscribed 155.28 times, as per BSE data. The final issue price was fixed at ₹161 on July 9.

While Meta Infotech will not receive proceeds from the OFS, the company plans to use the fresh issue funds to repay certain borrowings, invest in new office premises in Andheri East, Mumbai, and build an interactive experience centre. The remaining funds will be allocated to general corporate purposes.

Company Overview

Incorporated in 1998, Meta Infotech offers comprehensive end-to-end cybersecurity solutions to various sectors, including banking, IT, and manufacturing. Its offerings include consulting, implementation, and sustenance services that protect enterprise information and systems.

The company also acts as an authorised reseller for global OEMs’ cybersecurity products, focusing on areas such as secure access, cloud workload protection, network security, data protection, and identity management.

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