Synoptics Technologies Limited IPO Detail
Incorporated in 2008, Synoptics Technologies Limited provides IT services and solutions.
The company offers solutions in the areas of IT Infrastructure like connectivity to the Branches, Supply, implementation, and support of the network equipment needed to run the IT setup like routers, switches, etc.
It designs solutions for customers who need to put their applications on Cloud, as well as application migration, and managing the setup in the cloud. IT Security solutions like firewall installation and management. Data Centre design and solution with newer technology to optimize the investment and use less space and power and with clearly defined outcomes.
Synoptics Technologies helps enterprises, small businesses, and the Government in their Digital journey with various use cases of specific industry verticals. Its B2B customer list includes TATA Communications Limited, BOB Financial Services, Blue Dart Express Limited, Lifestyle International Private Limited, Shoppers Stop Limited, Hennes & Mauritz Retail Private Limited (H&M), Fedbank Financial Services Limited, GIC Housing Finance Ltd, Motilal Oswal Financial Services Limited, Government of Gujarat, etc.
The company has recently signed an agreement with BSNL to become their authorized Private LTE / Private 5G service partner nationwide.
Synoptics currently operates across India with a team of 584 employees. The company is headquartered in Mumbai and has regional offices in 17 locations throughout India including Andhra Pradesh, Bihar, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Odisha, Punjab, Rajasthan, Telangana, Tamil Nadu, Uttar Pradesh, Uttarakhand, and West Bengal.
Company Promoters
The Promoters of the company are Mr. Jagmohan Manilal Shah, Mr. Jatin Jagmohan Shah, and Mrs. Janvi Jatin Shah.IPO Details
| IPO Opening Date | Jun 30, 2023 |
| IPO Closing Date | Jul 05, 2023 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹237 per equity share |
| Market Lot | 600 Shares |
| Min Order Quantity | 600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹54.03 Cr |
| Fresh Issue | 1,480,000 shares (aggregating up to ₹35.08 Cr) |
| Offer for Sale | 800,000 shares of ₹10 (aggregating up to ₹18.96 Cr) |
| Retail Portion | 50.00% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | - | - | 0.53x | 0.51x | 0.52x | |
| Day 2 | - | - | 0.53x | 0.51x | 0.52x | |
| Day 3 | - | - | 2.58x | 2.54x | 2.66x |
IPO Tentative Timetable
The Synoptics Technologies Limited IPO open date is Jun 30, 2023, and the close date is Jul 05, 2023. The issue may list on Jul 13, 2023.
| IPO Open Date | Jun 30, 2023 |
| IPO Close Date | Jul 05, 2023 |
| Basis of Allotment Date | Jul 10, 2023 |
| Initiation of Refunds | Jul 11, 2023 |
| Credit of Shares to Demat Account | Jul 12, 2023 |
| IPO Listing Date | Jul 13, 2023 |
IPO Lot Size
The Synoptics Technologies Limited IPO market lot size is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or ₹142200).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 600 | ₹142200 |
| Maximum | 1 | 600 | ₹142200 |
IPO Promoter Holding
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.11% |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 31-Mar-21 | 3759.78 | 3479.91 | 236.02 |
| 31-Mar-22 | 4279.80 | 5097.07 | 432.36 |
| 31-Dec-22 | 5379.95 | 3446.81 | 525.36 |
Objects of the Issue:
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment of certain Borrowings,
- Funding additional Working capital requirements,
- Investment in Strategic Acquisition / Joint Venture, and
- General Corporate Purposes.
Synoptics Technologies Limited IPO Registrar:
Bigshare Services Pvt Ltd
Synoptics Technologies Limited IPO Lead Manager(s):
First Overseas Capital Limited
Company Contact Information:
Synoptics Technologies Limited
301, A-Wing, 3rd Floor, Interface 16, Mindspace, Malad
Mumbai
Mumbai
