The initial share sale of Vinsys IT Services, a global corporate training firm, opened for public subscription on Tuesday (August 1) and will close on Friday, August 4. Vinsys IT will offer its shares at a price band of Rs 121-128 apiece, and investors can bid for 1,000 shares in one lot.

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In the unlisted market, the company's shares are commanding a premium of Rs 60.

The IPO is entirely a fresh equity issue of up to 38.94 lakh equity shares aggregating up to Rs 49.8 crore.

The net proceeds from the issue will be utilised for working capital requirements, repayment of the loan to subsidiaries, and other general corporate purposes.

A total of 50 percent of the offer is reserved for qualified institutional buyers, 15 percent for non-institutional investors, and the remaining 35 percent for retail investors.

Beeline Capital Advisors is the book-running lead manager to the issue, while Link Intime India has been appointed as the registrar.

The final allotment will likely be made on August 9. The stock will be listed on the NSE Emerge platform, with August 14 as the tentative date of listing.

For the year ending March 2023, Vinsys IT has posted revenues of Rs 94.8 crore and net profit of Rs 15.01 crore.

Vinsys is scouting for inorganic opportunities in the US and UK even while consolidating its position in West Asia. Currently, it operates in eight countries, including the UAE, Oman, Malaysia, Singapore, Nigeria, Kenya, the UK, and the US.

Founded by Vikrant Patil, Vinsys started operations as a boutique training centre for a few IT clients and gradually grew into India’s second-largest corporate training firm.