Alphalogic Techsys Limited, a Pune-based bespoke software consulting firm that helps clients with their digital transformation needs, is among the first startups to get listed in the BSE Startup Platform. Alphalogic is announcing the pricing of its IPO (Initial Public Offering) of 7,80,000 shares of face value of Rupees 10 each. The issue is priced at Rupees 99 per share. Total size of the issue is Rupees 7.72 Crore.
“IPO is a dream come true for any company. It means that the company has matured. It’s processes, team, and business has matured. The company is ready to break free from its shell and enter the ocean,” Anshu Goel, CEO, Alphalogic said.
The Journey
Anshu started Alphalogic at the age of 24. He was at an early stage of his career, and at a time when the market was struck by global recession, Anshu saw value in starting up.
“I remember way back in in 2008, our first customer was paid us $90. For that amount, we had to work for many days. They were a UK-based customer. It was an SMS gateway integration, and we had underquoted by miles just to get things going,” Anshu said.
“Then in 2009, we landed a large customer who stayed with us for seven years. Their idea was born out of recession. People were losing their homes because the house value had gone below the loans they had taken. These guys jumped in to bridge the loan, or buy these houses from the banks to enable the original owners retain them. This was a social business, and we took care of a lot of their technology needs,” Anshu recalls.
That was the beginning. Alphalogic has since then, worked with the world’s largest shipping company. They had their first International client visit to their rented office in 2011. “Then, in 2013, we moved to our own office,” Anshu adds.
In 2015-16, Alphalogic formed a joint venture with a US-based company, kickstarting their operations there. Since then, they have worked with one of the most tech savvy healthcare companies from the US.
Today, major services offered by Alphalogic include product re-engineering, web and mobile application development, data analytics and business intelligence, and UI/UX consulting. As of date, the company has built over a hundred products for clients from across 12 countries. From Fortune 500 companies to early stage startups, the solutions are as diverse as they come.
The Future
Bootstrapped and profitable, Alphalogic has come a long way from a two-employee company to its IPO. This is a powerful growth story in itself. But for Anshu, the journey has just begun.
Alphalogic has completed a decade-long journey, and Anshu aims at a much faster growth post IPO. Anshu intends to use the exploits of the IPO in building newer clientele and expanding the team. He is also open to buyout or merger options as long as their goals align.
Making software simple is the motto of Alphalogic. Anshu admits, “Software development is very complicated in itself. Everytime our client comes to us with a requirement, we have a very detailed discussion with them to understand their challenges.”
“We invest a lot of time and energy understanding the problem before coming to the solution part. The solution then offered should be simple for the client. We send a lot of time on user interaction and experience.”
As for Anshu, most of his time is currently spent in planning growth for his company. “Getting listed on BSE Startup Platform is just step one,” he says, as he aims to get Alphalogic listed in the BSE Main Exchange in the years to come.
Know Alphalogic in depth before investing
