Bookbuilding IPO | ₹47 Cr | Listed at NSE SME | Wed, Sep 27, 2023 - Tue, Oct 3, 2023
Canarys Automations IPO is a book build issue of ₹47.03 crores. The issue is entirely a fresh issue of 1.52 crore shares of ₹47.03 crore.
Canarys Automations IPO bidding started from Sep 27, 2023 and ended on Oct 3, 2023. The allotment for Canarys Automations IPO was finalized on Oct 6, 2023. The shares got listed on NSE SME on Oct 11, 2023.
Canarys Automations IPO price band is set at ₹31 per share. The lot size for an application is 4,000. The minimum amount of investment required by an retail is ₹1,24,000 (4000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (8,000 shares), amounting to ₹2,48,000.
Indorient Financial Services Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Alacrity Securities Ltd..
Refer to Canarys Automations IPO RHP for detailed Information.
IPO Open
Wed, Sep 27, 2023
IPO Close
Tue, Oct 3, 2023
Issue Price
₹31 per share
Market Cap (Pre-IPO)
₹174.17 Cr
| IPO Date | 27 Sep to 3 Oct, 2023 |
| Listed on | Wed, Oct 11, 2023 |
| Face Value | ₹2 per share |
| Price Band | ₹29 to ₹31 |
| Issue Price | ₹31 per share |
| Lot Size | 4,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 1,51,72,000 shares (agg. up to ₹47 Cr) |
| Reserved for Market Maker | 7,60,000 shares Alacrity Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 1,44,12,000 shares (agg. up to ₹45 Cr) |
| Net Offered to Public | 1,44,12,000 shares (agg. up to ₹45 Cr) |
| Share Holding Pre Issue | 4,10,11,920 shares |
| Share Holding Post Issue | 5,61,83,920 shares |
| NSE Symbol | CANARYS |
| ISIN | INE0QG301017 |
Canarys Automations IPO comprises a total issue size of 1,51,72,000 shares. The net offer to the public is 1,44,12,000 shares, after excluding 7,60,000 shares allotted on a firm basis. Of the Net offer 72,00,000 (49.96%) are allocated to QIB, 21,64,000 (15.02%) allocated to NII 50,48,000 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 72,00,000 | 49.96% | 47.46% |
| − Anchor Investor Shares Offered | 32,32,000 | 21.30% | |
| − QIB (Ex. Anchor) Shares Offered | 39,68,000 | 26.15% | |
| NII (HNI) Shares Offered | 21,64,000 | 15.02% | 14.26% |
| Retail Shares Offered | 50,48,000 | 35.03% | 33.27% |
| Firm Reservations | |||
| Market Maker Shares Offered | 7,60,000 | 5.01% | |
| Total Shares Offered | 1,51,72,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 4,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4,000 | ₹1,24,000 |
| Retail (Max) | 1 | 4,000 | ₹1,24,000 |
| HNI (Min) | 2 | 8,000 | ₹2,48,000 |
Canarys Automations IPO raises ₹10.02 crore from anchor investors. Canarys Automations IPO Anchor bid date is September 26, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Tue, Sep 26, 2023 |
| Shares Offered | 32,32,000 |
| Anchor Portion (₹ Cr.) | 10.02 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Nov 5, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jan 4, 2024 |
Incorporated in 1991, Canarys Automations Limited provides IT solutions in the space of Digitalization, Modernization, Automation, and Intelligence.
The company has two business verticals:
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.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 63.78 | 47.54 | 20.03 |
| Total Income | 75.47 | 52.00 | 25.78 |
| Profit After Tax | 8.53 | 4.56 | 2.10 |
| NET Worth | 25.38 | 16.83 | 12.58 |
| Reserves and Surplus | 16.10 | 7.55 | 5.47 |
| Total Borrowing | 14.16 | 8.79 | |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Funding of expenditure relating to solutions development for digital transformation and water resources management solutions | 11.00 |
| 2 | Creation of new delivery centre including infrastructure thereof and upgrading existing facilities; | 8.94 |
| 3 | Funding working capital requirements of the Company | 15.00 |
| 4 | General corporate purposes | 6.09 |
| KPI | |
|---|---|
| RoNW | 31.64% |
| PAT Margin | 11.44% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 3.92 | |
| P/E (x) | 15.82 | 20.39 |
| Promoter Holding | 77.49% | |
| Market Cap | ₹174.17 Cr. |
The Canarys Automations IPO is subscribed 9.94 times on October 3, 2023 7:29:00 PM (Day 4). The public issue subscribed 11.7 times in the retail category, 2.73 times in the QIB category, and 14.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 2.73 | 28,80,000 | 78,56,000 |
| NII* | 14.29 | 27,36,000 | 3,91,04,000 |
| Retail | 11.7 | 50,48,000 | 5,90,84,000 |
| Total | 9.94 | 1,06,64,000 | 10,60,44,000 |
Total Application : 14,771
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees including Underwriting, Commission | 4.50 |
| 2 | Brokerage, selling commission and other uploading fees (1)(2)(3) | 0.70 |
| 3 | Fees payable to Registrar to the Offer | 0.02 |
| 4 | Fees to the auditor / chartered accountant/ secretarial fees | 0.15 |
| 5 | Fees to the legal advisor fees | 0.15 |
| 6 | Advertising and marketing expenses | 0.25 |
| 7 | Fees payable to regulators including stock exchanges | 0.05 |
| 8 | Printing and distribution expenses | 0.04 |
| 9 | Fees payable to Market Maker (for Two Years) | 0.06 |
| 10 | Miscellaneous | 0.08 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹31.00 |
| Open | ₹43.45 |
| Low | ₹41.30 |
| High | ₹44.90 |
| Last Trade | ₹41.30 |
Lead Manager Reports
Canarys Automations IPO is a SME IPO of 1,51,72,000 equity shares of the face value of ₹2 aggregating up to ₹47 Crores. The issue is priced at ₹31 per share. The minimum order quantity is 4000.
The IPO opens on Wed, Sep 27, 2023, and closes on Tue, Oct 3, 2023.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Canarys Automations IPO using UPI as a payment gateway. Zerodha customers can apply in Canarys Automations IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Canarys Automations IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Canarys Automations IPO opens on Wed, Sep 27, 2023 and closes on Tue, Oct 3, 2023.
Canarys Automations IPO lot size is 4000, and the minimum amount required for application is ₹1,24,000.
You can apply in Canarys Automations IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Canarys Automations IPO will be done on Friday, October 6, 2023, and the allotted shares will be credited to your demat account by Tue, Oct 10, 2023. Check the Canarys Automations IPO allotment status.
The Canarys Automations IPO listing date is on Wed, Oct 11, 2023.
