Info-Tech’s IPO 14.4 Times Subscribed by Public, Raises S$61.7 Million with Strong Institutional Demand
Summary:
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Info-Tech Systems Ltd. (Singapore’s first cloud-based SaaS HRMS & accounting software provider to list) announced overwhelming response to its IPO.
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Public offer (5 million shares) was ~14.4 times subscribed by retail investors.
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Placement tranche (19.9 million shares) was ~5.5 times subscribed by international & local institutions.
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Nine cornerstone investors, including Asdew, Avanda, Dymon Asia, Ginko-AGT, Lion Global, Maybank AM, Nikko AM, Qilin Wealth, and Splendid Asia Macro Fund, subscribed for S$35.8 million.
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Total funds raised expected at ~S$61.7 million (if the over-allotment option of ~4.9 million shares is exercised).
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Shares to start trading on SGX Mainboard on 4 July 2025 under stock code “ITS”.
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Proceeds will fund product expansion, deeper market penetration, entry into new geographies, and strategic acquisitions.
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CEO Babu Dilip highlighted strong investor confidence in Info-Tech’s track record, recurring income, and long-term growth plans.