Info-Tech Systems closes 4.6% above IPO price on first day of trading

SINGAPORE – Software services provider Info-Tech Systems ended its first trading day on July 4 at 91 cents, 4.6 per cent above its initial public offering (IPO) price.

The counter opened at 95 cents with the stock code ITS, reaching as high as 98 cents in Singapore’s second listing for 2025 and first mainboard listing in close to two years.

The Singapore-headquartered firm’s trading debut comes two days after its IPO closed, with some 24.9 million shares fully subscribed at 87 cents apiece.

Its IPO comprised an international placement of around 19.9 million shares allocated for selected investors, which was 5.5 times subscribed, and an offer of five million shares available to the Singapore public, which was 14.4 times subscribed.

This translates to a subscription rate of 7.3 times for all the shares on offer.

Established in 2007 by Mr Babu Dilip, the company’s chief executive officer, and Mr Peter Lee, the group’s executive chairman, Info-Tech Systems offers software services to improve the efficiency of human resource operations – including payroll, leave management and performance appraisal – and targets small and medium-sized enterprises.

The IPO proceeds will go towards deepening Info-Tech Systems’ market penetration, enhancing its brand visibility as well as expanding its suite of solutions and operations, said Mr Babu.

This could include expanding the group’s geographical presence to new markets and accelerating access to new technology through inorganic acquisitions and partnerships. The firm also operates in Malaysia, Hong Kong and India.

For the financial year ended December 2024, the company recorded a 17.6 per cent rise in its net profit to $12.3 million. Its top line grew by around 15 per cent year on year to $43.7 million, tracking a rise in revenue of its cloud accounting software.

THE BUSINESS TIMES