Business
Alphalogic Techsys doubles investor wealth in 2021, increases authorized capital
Alphalogic Techsys, one of India’s fastest growing digital technology startups, has successfully delivered 100% returns on its shares in the year 2021. It recorded 23% growth in its consolidated revenue from Rs 5.47 cr to 6.76 cr in FY2020-21.
The Board of Directors, in the latest board meeting, has approved to increase the authorized capital of the company from Rs 3 cr to 10.4 cr. It has also approved a bonus issue to reward its shareholders in the ratio of 27:10. On an upward growth trajectory, the company aims to migrate to the main board of BSE and NSE platforms by the end of 2021.
Anshu Goel, Managing Director, Alphalogic Techsys, said they are excited to take the authorized capital of the company from Rs 3 cr to 10.4 cr. “While we have rapidly expanded our business in India and globally, setting new benchmarks in the industry with our milestone achievements, we look forward to taking the company to the next level. We are thankful to our customers who instilled confidence in our ability to seamlessly deliver and partner with them in their digital transformation journey. We aim to move forward with high vigor and passion to achieve our stated vision of migrating to the main board of BSE and NSE this year. Our goal is to expand our horizons by consistently delivering value to both our customers as well as stakeholders.”
With customers in over 30 countries, Alphalogic Techsys works with clients ranging from early-stage startups to established small and midsize businesses and Fortune 500 companies. With its turnkey solutions such as product engineering, mobility, artificial intelligence and cloud computing, Alphalogic Techsys has been a key enabler to its clients, especially in Fintech and Healthcare sectors.
Alphalogic Techsys was India’s first startup to be listed on the BSE startups platform in 2019. With this milestone achievement, Alphalogic Techsys paved the way for other startups to look at the IPO route. Since then, the company has grown exponentially on the back of rapid investments in technology and diversification of business. In 2020, the company incorporated two subsidiaries namely – Alphalogic Trademart Ltd and Faraday Digital Inc. Alphalogic Trademart Ltd works in the area of smart procurement solutions for SMEs in the manufacturing and food industry. Faraday Digital Ltd on the other hand, is Alphalogic Techsys’ US arm working on new-age technologies like blockchain, and cloud computing etc.
