Canarys Automations Limited IPO Detail
Incorporated in 1991, Canarys Automations Limited provides IT solutions in the space of Digitalization, Modernization, Automation, and Intelligence.
The company has two business verticals:
- Technology solutions: This includes a multiple array of consulting solutions in Digitalization, Modernization, Cloudification, Automation, Transformation, and Intelligence. Technology expertise includes DevOps Consulting (Azure, GitHub, Atlassian, GitLab, etc.), Cloud Consulting (Azure, AWS, GCP), Digital Enterprise Solutions using SAP, MS Dynamics 365, RPA, Digital Applications, and Mobility Solutions.
- Water Resource Management Solution: This involves automation solutions to modernize irrigation water conservation and improve water use efficiency, Turnkey flood risk assessment and mitigation, cloud-based water utilization process automation for water sharing in rivers and canals, and SCADA gate control systems.
Canarys Automations' solutions span across various industry sectors, including BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, Insurance, and more.
The company has provided business applications to over 1000 customers. Besides India, the company has serviced customers from more than 10 countries. These include USA, UK, Canada, Germany, Singapore, Malaysia, Brunei, Australia, Srilanka and Indonesia. These customers come from diverse industries.
Company Promoters
Mr. Metikurke Ramaswamy Raman Subbarao, Mr. Danavadi Krishnamurthy Arun, Mr. Raghu Chandrashekhariah, Mr. Sheshadri Yedavanahalli Srinivas, Mr. Pushparaj Shetty and Mr. Nagaraju VineethIPO Details
| IPO Opening Date | Sep 27, 2023 |
| IPO Closing Date | Oct 03, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹2 per equity share |
| IPO Price | ₹29 - 31 per equity share |
| Market Lot | 4000 Shares |
| Min Order Quantity | 4000 Shares |
| Listing At | NSE SME |
| Issue Size | ₹47.03 Cr |
| Fresh Issue | ₹47.03 Cr |
| Offer for Sale | - |
| Retail Portion | 34.44% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.18x | 0.85x | 0.45x | |
| Day 2 | - | - | 0.59x | 1.88x | 1.04x | |
| Day 3 | 2.73x | - | - | 14.29x | 11.70x | 9.14x |
IPO Tentative Timetable
The Canarys Automations Limited IPO open date is Sep 27, 2023, and the close date is Oct 03, 2023. The issue may list on Oct 11, 2023.
| IPO Open Date | Sep 27, 2023 |
| IPO Close Date | Oct 03, 2023 |
| Basis of Allotment Date | Oct 06, 2023 |
| Initiation of Refunds | Oct 09, 2023 |
| Credit of Shares to Demat Account | Oct 10, 2023 |
| IPO Listing Date | Oct 11, 2023 |
IPO Lot Size
The Canarys Automations Limited IPO market lot size is 4000 shares. A retail-individual investor can apply for up to 1 lots (4000 shares or ₹124000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 4000 | ₹124000 |
| Maximum | 1 | 4000 | ₹124000 |
IPO Promoter Holding
| Pre Issue Share Holding | ₹47.03 Cr |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 2003.04 | 2578.22 | 210.42 |
| 31-Mar-22 | 4753.57 | 5199.93 | 455.81 |
| 31-Mar-23 | 455.81 | 455.81 | 455.81 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding of expenditure relating to solutions development for digital transformation and water resources management solutions.
- Creation of a new delivery center including infrastructure thereof and upgrading existing facilities.
- Funding working capital requirements of the Company.
- General corporate purposes.
Canarys Automations Limited IPO Registrar:
Link Intime India Private Ltd
Canarys Automations Limited IPO Lead Manager(s):
Indorient Financial Services Ltd
Company Contact Information:
Canarys Automations Limited
No. 566 & 567, 2nd Floor, 30th Main,
Attimabbe Road, Banagirinagara,
Banashankari 3rd Stage, Bengaluru - 560085
