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Nagpur City No 1 eNewspaper : Nagpur Today

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Published On : Wed, Jul 31st, 2019
Business News | By Nagpur Today Nagpur News

Pune-based startup Alphalogic announces Initial Public Offering

Bootstrapped and profitable Pune-based startup Alphalogic Techsys Limited is a bespoke software consulting firm, which has been helping clients from all across the globe with needs surrounding their digital transformation over the past decade. With its shares getting listed in BSE Startup Platform, Alphalogic is on its way to be among the first startups from its generation to have grown into becoming a limited company.

The company is announcing the pricing of its IPO (Initial Public Offering) of 7,80,000 shares of face value of Rupees 10 each. With the issue priced at Rupees 99 per share, the total issue-size is Rupees 7.72 Crore. The company intends to use the proceeds from the IPO to fund its expansion.

“We are looking for growing our business by tapping new clients in different geographies and expanding our team. We are open to inorganic growth opportunities as well. If we encounter a suitable buyout or a merger opportunity, that is inline with our business and creates synergy, we would be open to exploring such opportunities,” Anshu Goel, CEO, Alphalogic said.

Anshu started Alphalogic in 2008 at during his early professional career. He was just 24 years old at the time. Raised in the small town of Chandrapur in Maharashtra, Anshu pursued his Engineering degree in the city, and started up when the whole world was facing the debacle of global recession. Starting up in Pune was strategic to the success of his company.

“One of the most important factors of our successful journey has been our location. Pune is strategically located, has amazing talent pool and great weather. Being in Pune helped us get the right talent. The startup ecosystem has been vibrant. Pune has presented us with many opportunities to learn and contribute,” Anshu says.

With over a hundred products built for clients from across 12 countries, Alphalogic has provided solutions to not just the top notch Fortune 500 companies, but also early stage startups and Small and Medium businesses.

“Our major services include product re-engineering, web and mobile application development, data analytics and business intelligence, and UI/UX consulting. Our clients come with all sorts of requirements and from all parts of the world, including Australia, USA, and UK. Our goal has always been to solve their real world problems using the best technology,” Anshu says.

From a small organisation of two members to currently at the brink of its IPO, Alphalogic has had a long and enduring journey. As Alphalogic gets listed in the BSE Startup Platform, Anshu aims to continue on similar growth trajectory and get Alphalogic listed BSE Main Exchange in the next two years.

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