Systango Technologies Limited IPO Detail
Incorporated in 2004, Systango Technologies Limited is engaged in the business of providing software solutions. The offerings of the company enable companies to design, implement and manage their own customized digital platforms.
These platforms designed by Systango include Web2, Web3, and mobile applications with a strong emphasis on data and analytics.
The range of software solutions provided by the company is wide and includes- Website development, Mobile app development (both for iOS and Android applications), Web3 development, DeFi (Decentralized finance), Data Engineering, Implementation of blockchain, Cloud computing and Digital Marketing.
Systango Technologies offers its services across various sectors like Hospitality, Property Tech, Financial Services (FinTech), Fantasy Sports, and many others.
The company has evolved as a professional and technical service provider over the years of its operations. Their end-to-end technology solutions and support help entities and organization effectively implement innovations in their system and keep up with the new-age world.
Company Promoters
Vinita Rathi and Nilesh Rathi are the promoters of the company.IPO Details
| IPO Opening Date | Mar 02, 2023 |
| IPO Closing Date | Mar 06, 2023 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹85 - 90 per equity share |
| Market Lot | 1600 Shares |
| Min Order Quantity | 1600 Shares |
| Listing At | NSE SME |
| Issue Size | ₹34.82 Cr |
| Fresh Issue | 3,868,800 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | - | - | 0.96x | 3.24x | 1.28x |
| Day 2 | 0.41x | - | - | 3.75x | 12.10x | 5.01x |
| Day 3 | 14.10x | - | - | 230.29x | 63.99x | 64.08x |
IPO Tentative Timetable
The Systango Technologies Limited IPO open date is Mar 02, 2023, and the close date is Mar 06, 2023. The issue may list on Mar 15, 2023.
| IPO Open Date | Mar 02, 2023 |
| IPO Close Date | Mar 06, 2023 |
| Basis of Allotment Date | Mar 10, 2023 |
| Initiation of Refunds | Mar 13, 2023 |
| Credit of Shares to Demat Account | Mar 14, 2023 |
| IPO Listing Date | Mar 15, 2023 |
IPO Lot Size
The Systango Technologies Limited IPO market lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹144000).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1600 | ₹144000 |
| Maximum | 1 | 1600 | ₹144000 |
IPO Promoter Holding
| Pre Issue Share Holding | 97.73% |
| 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 | 1,537.57 | 2,388.09 | 568.26 |
| 31-Mar-22 | 2,288.97 | 3,392.10 | 676.99 |
| 30-Sep-22 | 2,732.41 | 2,301.30 | 572.30 |
Objects of the Issue:
The company intends to utilize the proceeds of the Issue to meet the following objectives:-
- Strategic Investment and Acquisitions;
- Investment in Subsidiaries;
- To Meet Working Capital Requirements;
- General Corporate Purposes;
- Issue Expenses.
Systango Technologies Limited IPO Registrar:
Bigshare Services Pvt Ltd
Systango Technologies Limited IPO Lead Manager(s):
Hem Securities Limited
Company Contact Information:
Systango Technologies Limited
Third Floor (LHS), STP-I Crystal IT Park, Ring Road
Indore
Indore
