By Rudra Narayan Sahoo, Hyderabad: This year’s September 9th appears to be D-Day for Husys Consulting Ltd, Hyderabad based HR services, HR consulting and HR technology company. Husys Consulting will launch IPO on 9 September 2016 (Friday). Husys is all set to offer its equity to Public through its maiden IPO on National Stock Exchange – EMERGE making it the first HR company on the platform. The company will raise Rs 4.19 crore through its maiden public offer.
The IPO of HUSYSLTD will open for subscription on 9 September 2016 while the offer will close on 19 September 2016 (Monday). The IPO issue price is Rs 69 while issue type is Fixed Price. For Husys IPO a minimum lot size is 2000 shares @Rs.69/-(Fixed Price) and in multiples thereon (eg: 2000,4000,6000… as 1,2,3 lots).
Husys informed that Lead Manager of the IPO issue is Sarthi Capital Advisors Pvt. Ltd, Mumbai while Yes Bank and Axis Bank have been appointed as the bankers of the issue. The company will be listed on NSE-EMERGE exchange on 27 September 2016.
Commenting on the IPO launch, Gundlapally Ramalinga Reddy, Founder & Managing Director, Husys Consulting, said “We have launched a Franchise Program in India to catchup with the growing needs of India. Through this program we would like to be in 25 cities this financial year, 75 cities in next two years.” Outlining vision of the company Mr Reddy said that through the company’s technology it would like to enable at least 10 lakh of employees on its HR Cloud Technology platform by Dec 2017.
Next two to three year the company is like to expand into other countries where SME’s are more and key for growth of such countries. “Meanwhile, our technology expansion to new territories will be initiated,” added he.
In a IPO note, the company has informed that proceeds from IPO capital will 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.
Husys Consulting posted total revenues of Rs 12.45 crore in FY16 Vs Rs 9.26 crore in FY15. The company recorded a profit of Rs 38.38 lakh compared to Rs 24.07 lakh in FY15. Here, Financial Year ends on 31 March.
The company said that to apply IPO one should look for “HUSYSLTD” symbol on 9 September 2016 on NSE EMERGE platform via Demat Account.
