Lex Nimble Solutions becomes the 238th company to list on BSE SME Platform

Hyderabad based Lex Nimble Solutions Limited became the 238th company to get listed on the BSE SME Platform on Wednesday. The company had launched its initial public offering of 11,12,000 equity shares of Rs. 10 each for cash at a price of Rs. 57 per share.

The public offer raised a sum worth Rs. 633.84 lacs and concluded successfully on March 23, 2018. The company had Hyderabad-based Quintessence Enterprises Private Limited as its lead manager for the issue.

Lex Nimble Solutions Limited, a Hyderabad-based company with registered office is at Madhapur, is engaged in the business of appraisal advisory, certification, training and related services on quality models. The company also provides IT product and development and services and a significant part of its revenue is sourced by IT application, development, maintenance and support, corporate training and consulting businesses.

The company will be utilizing the IPO proceeds to foray into CMMI consulting, towards the establishment as an ISO certifying body, customisation of the product SimpleLaw for the Indian market and other general expenses.

The BSE SME platform has recorded the listing of 238 companies and has aggregately raised Rs. 2,152.84 crore. While, the total market capitalization of 238 companies stands at 22,350.73 crore. BSE is the market leader in the segment with a market share of 64 per cent.