Delhi, 2 September (H.S.): Shares of IT solutions provider Globtier Infotech made a disappointing debut on the stock market today, sliding sharply and triggering the lower circuit limit, disappointing many IPO investors. Issued at ₹72 per share, the company’s shares opened on the BSE SME platform at a significant 20% discount, trading at ₹57.60. Soon after, heavy selling pressure pushed the stock down further to the lower circuit of ₹54.72, resulting in a steep 24% loss or ₹17.28 per share for investors on day one.

Globtier Infotech had opened its ₹31.05 crore IPO subscription window between August 25-28, drawing a mixed response with a 2.04 times overall subscription. Notably, the non-institutional investor segment saw a very limited 0.63% subscription, while retail investors subscribed at a stronger 2.03 times. The IPO comprised ₹27.44 crore of fresh equity shares alongside an offer-for-sale of 5,00,800 shares with a face value of ₹10.

The capital raised is earmarked to reduce the company’s debt burden, meet working capital needs, and support general corporate purposes. Financially, the company showed steady improvement with net profits growing from ₹3.35 crore in FY 2022-23 to ₹5.50 crore in FY 2024-25 and revenue climbing at a CAGR of over 4% to ₹94.81 crore. However, debt levels rose substantially from ₹8.06 crore in FY 2022-23 to ₹12.60 crore in FY 2023-24, before marginally declining to ₹12.21 crore in FY 2024-25.

Despite solid financial metrics, the weak IPO listing and subsequent sharp fall have cast a shadow on investor sentiment, marking a challenging start for Globtier Infotech on the public markets.

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Hindusthan Samachar / Jun Sarkar