Mumbai, Sep 28 (UNI) Advait Infratech Limited became the 326th company to get listed on the BSE SME Platform on Monday. Advait Infratech Limited came out with an initial public offering of 1,350,000 Equity Shares of Rs 10 each for cash at a price of Rs 51 per equity share.
Aggregating to Rs 6.89 crore, the company has successfully completed its public issue on September 18, 2020, a BSE release said.
Advait Infratech Limited is into business of providing products and solutions for power transmission, power substation and telecommunication infrastructure fields. The company operates with various verticals such as Turnkey Telecommunication Projects, Installation of the Power Transmission, Sub Station and Telecom Products, Liasioning-marketing and providing end to end solutions for the overseas customers operating in the Field Power Transmission and Sub Station, Trading of the similar products, and manufacturing through OEM of the stringing Tools (Capital items for construction of Electrical Transmission Projects). Based in Ahmedabad, India – the business hub of Gujarat, Advait was found in the year 2008 achieving substantial growth in a short span of just one year.
The company has a nationwide footprints through affiliated team members in Ahmedabad, Baroda, Delhi, Mumbai, Hyderabad, Kolkata and Chennai.
Mumbai based ISK Advisors Private Limited was the lead manager to Advait Infratech Limited.
The 325 companies listed on BSE SME Platform have raised Rs 3,340.36 crore from the market and total market capitalization of 325 companies as on September 28, 2020 is 20,350.31 crore. BSE is the market leader in this segment with a market share of 61 per cent.