Esconet Technologies Limited IPO Detail
Founded in 2012, Esconet Technologies Limited provides high-end supercomputing solutions, and data center facilities that include storage servers, network security, virtualization, and data protection.
The company offers Servers and Graphics Workstations, Comprehensive Data Storage Solutions, Virtualization Software, Backup and Disaster Recovery Solutions, Data Centre and Access Networks, Advanced Software Defined Networks, Network Security Tools, Email Communication Systems, Databases with High Availability, and Log Management and Analytics Software.
The company also provides service and after-sales services which include IT Hardware Installation & Configuration, Deployment and Seamless Integration of Diverse IT Infrastructure Software, Infrastructure Management & Monitoring, Expertise in Private Cloud Setup and Management, Annual Maintenance Services, Managed Backup and Disaster Recovery Solutions, Data Migration Services, and Expert Consulting Services.
The company also offers cloud-based services through its subsidiary ZeaCloud Services catering to various business needs, e.g. disaster recovery services, managed cloud services, private cloud, and DaaS services.
Esconet's clients include Ministry of Defence, National Informatics Centre-MeitY, National Informatics Centre Services Inc - MeitY, Indian Institute of Technology, Indraprastha Institute of Technology Limited, Bharat Electronics Limited, Oil & Natural Gas Commission Limited, Engineers India Limited and Hindustan National Glass & Industries Limited and many more.
As at November 30, 2023, the company had over 47 employees.
Company Promoters
Mr. Santosh Kumar Agrawal and Mr. Sunil Kumar AgrawalIPO Details
| IPO Opening Date | Feb 16, 2024 |
| IPO Closing Date | Feb 20, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹80 - 84 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹28.22 Cr |
| Fresh Issue | ₹28.22 Cr |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 1.26x | 0.00x | 0.00x | 5.52x | 16.06x | 9.57x |
| Day 2 | 1.33x | 0.00x | 0.00x | 75.08x | 135.13x | 84.05x |
| Day 3 | 156.02x | 0.00x | 0.00x | 868.05x | 553.02x | 507.24x |
IPO Tentative Timetable
The Esconet Technologies Limited IPO open date is Feb 16, 2024, and the close date is Feb 20, 2024. The issue may list on Feb 23, 2024.
| IPO Open Date | Feb 16, 2024 |
| IPO Close Date | Feb 20, 2024 |
| Basis of Allotment Date | Feb 21, 2024 |
| Initiation of Refunds | Feb 22, 2024 |
| Credit of Shares to Demat Account | Feb 22, 2024 |
| IPO Listing Date | Feb 23, 2024 |
IPO Lot Size
The Esconet Technologies Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹134400).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹134400 |
| Maximum | 1 | 1600 | ₹134400 |
IPO Promoter Holding
| Pre Issue Share Holding | 89.18% |
| Post Issue Share Holding | 64.94% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-23 | 2798.37 | 9690.84 | 304.00 |
| 30-Sep-23 | 4260.46 | 7146.71 | 305.47 |
Objects of the Issue:
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- The working capital requirement of the company,
- Investment in Wholly Owned Subsidiary, viz. Zeacloud Services Private Limited, to fund its capital expenditure expenses, and
- General Corporate Expenses.
Esconet Technologies Limited IPO Registrar:
Skyline Financial Services Private Ltd
Esconet Technologies Limited IPO Lead Manager(s):
Corporate Capitalventures Pvt Ltd
Company Contact Information:
Esconet Technologies Limited
D-147,
Okhla Industrial Area Phase 1,
South Delhi, New Delhi – 110020
