Genxai Analytics’ initial public offering (IPO) worth ₹55 crore is closing for subscription today, June 9. The offer opened on June 5 and includes 0.47 crore shares priced between ₹110 and ₹116 each. The fresh issue aims to raise funds primarily for working capital and development expenses, according to livemint.com.
The IPO has received strong investor interest over the three-day subscription period. The company has set the price band at ₹110-₹116 per share, targeting small and medium enterprises (SMEs). Market sentiment appears positive, with the grey market premium signaling a potential 5% listing gain, reflecting investor confidence in Genxai Analytics’ business prospects, livemint.com reported.
This IPO adds to the growing trend of AI-focused companies seeking public funding in India’s SME segment. The ₹55 crore fresh issue is positioned to support Genxai Analytics’ expansion and product development in the competitive analytics sector. The listing gains indicated by the grey market premium suggest robust demand, aligning with recent successful SME IPOs in the technology space.
Investors have until 5 pm today to place their bids for the Genxai Analytics IPO. The company plans to utilize the proceeds for working capital and development expenses, as stated in the offer documents shared on livemint.com.