Bookbuilding IPO | ₹24 Cr | Listed at BSE, NSE | Thu, Feb 5, 2009 - Mon, Feb 9, 2009
Edserv Softsystems IPO is a book build issue of ₹23.84 crores. The issue is entirely a fresh issue of 0.40 crore shares of ₹23.84 crore.
Edserv Softsystems IPO bidding started from Feb 5, 2009 and ended on Feb 9, 2009. The shares got listed on BSE, NSE on Mar 2, 2009.
Edserv Softsystems IPO price band is set at ₹60 per share. The lot size for an application is 100. The minimum amount of investment required by an retail is ₹6,000 (100 shares) (based on upper price). The lot size investment for sNII is 34 lots (3,400 shares), amounting to ₹2,04,000, and for bNII, it is 167 lots (16,700 shares), amounting to ₹10,02,000.
The issue includes a reservation of up to 2,00,000 shares for employees offered at a discount of ₹0.00 to the issue price.
Keynote Financial Services Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to Edserv Softsystems IPO RHP for detailed Information.
IPO Open
Thu, Feb 5, 2009
IPO Close
Mon, Feb 9, 2009
Issue Price
₹60 per share
Market Cap (Pre-IPO)
₹72.04 Cr
| IPO Date | 5 to 9 Feb, 2009 |
| Listed on | Mon, Mar 2, 2009 |
| Face Value | ₹10 per share |
| Price Band | ₹55 to ₹60 |
| Issue Price | ₹60 per share |
| Lot Size | 100 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 39,73,911 shares (agg. up to ₹24 Cr) |
| Fresh Issue | 39,73,911 shares (agg. up to ₹24 Cr) |
| Share Holding Pre Issue | 80,32,092 shares |
| Share Holding Post Issue | 1,20,06,000 shares |
| BSE Script Code / NSE Symbol | 533055 / EDSERV |
| ISIN | INE889J01019 |
Edserv Softsystems IPO comprises a total issue size of 39,73,908 shares. The net offer to the public is 37,73,908 shares, after excluding 2,00,000 shares under a preferential allotment. Of the Net offer 18,86,954 (50.00%) are allocated to QIB, 5,66,086 (15.00%) allocated to NII 13,20,868 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 18,86,954 | 50.00% | 47.48% | NA |
| NII (HNI) Shares Offered | 5,66,086 | 15.00% | 14.25% | NA |
| Retail Shares Offered | 13,20,868 | 35.00% | 33.24% | 13,208 |
| Preferential Reservations | ||||
| Employee Shares Offered | 2,00,000 | 5.03% | NA | |
| Total Shares Offered | 39,73,908 | 100.00% | 100.00% | |
Investors can bid for a minimum of 100 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 100 | ₹6,000 |
| Retail (Max) | 33 | 3,300 | ₹1,98,000 |
| S-HNI (Min) | 34 | 3,400 | ₹2,04,000 |
| S-HNI (Max) | 166 | 16,600 | ₹9,96,000 |
| B-HNI (Min) | 167 | 16,700 | ₹10,02,000 |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Incorporated in 2001, Edserv Softsystems Limited is in the business of web-learning, software development staffing solutions.
Edserv came with an objective of providing niche training solutions, customised software solutions, and placement consulting on contract as well as permanent basis to both Corporate and Institutional clients. The company successfully provided staffing solutions to premier clients during 2002 to 2004 viz., TI Group, TVS Group, Office Tiger, KSB Pumps, Infosys Technologies, HCL Technologies, Shasun Chemicals, Hexaware Technologies, Ashok Leyland, Seshasayee Paper & Boards among others.
| Period Ended |
|---|
| Amount in ₹ Crore |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Content Development | 11.20 |
| 2 | Establishment of HEAL Laboratories | 10.38 |
| 3 | Establishing HEADS Offices | 2.75 |
| 4 | Development and Implementation of centralized Lamps Portal Engine | 1.10 |
| 5 | Promotion Expenses | 2.05 |
| 6 | Issue Expenses | 2.02 |
| 7 | Contingencies | 0.26 |
| Total | 29.76 |
| KPI | |
|---|---|
| RoNW | 30.03% |
| Pre IPO | Post IPO | |
|---|---|---|
| Promoter Holding | 91.21% | 61.02% |
| Market Cap | ₹72.04 Cr. |
The Edserv Softsystems IPO is subscribed 1.3 times on February 9, 2009 5:00:00 PM (Day 3). The public issue subscribed 1.02 times in the retail category, 1.08 times in the QIB category, and 3.1 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 1.08 | 18,86,954 | |
| NII | 3.1 | 5,66,086 | |
| Retail | 1.02 | 13,20,868 | |
| Employee | 0.04 | 2,00,000 | |
| Total | 1.3 | 39,73,908 |
CARE has assigned an IPO Grade 1 to Edserv Softsystems IPO. This means as per CARE, company has Poor fundamentals. CARE assigns IPO gradings on a scale of 5 to 1, with Grade 5 indicating strong fundamentals and Grade 1 indicating poor fundamentals.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Lead management, underwriting and selling commissions | 11.50 |
| 2 | Advertising and marketing expenses | 4.00 |
| 3 | Printing and stationery | 2.00 |
| 4 | Other (Registrar’s fees, credit rating agencies fees, legal fees, etc.) | 2.70 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹60.00 | ₹60.00 |
| Open | ₹55.00 | ₹60.00 |
| Low | ₹55.00 | ₹58.20 |
| High | ₹147.00 | ₹147.00 |
| Last Trade | ₹137.55 | ₹136.40 |
Lead Manager Reports
Edserv Softsystems IPO is a main-board IPO of 39,73,911 equity shares of the face value of ₹10 aggregating up to ₹24 Crores. The issue is priced at ₹60 per share. The minimum order quantity is 100.
The IPO opens on Thu, Feb 5, 2009, and closes on Mon, Feb 9, 2009.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Edserv Softsystems IPO using UPI as a payment gateway. Zerodha customers can apply in Edserv Softsystems IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Edserv Softsystems IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Edserv Softsystems IPO opens on Thu, Feb 5, 2009 and closes on Mon, Feb 9, 2009.
Edserv Softsystems IPO lot size is 100, and the minimum amount required for application is ₹6,000.
You can apply in Edserv Softsystems 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 Edserv Softsystems IPO will be done on [.], and the allotted shares will be credited to your demat account by . Check the Edserv Softsystems IPO allotment status.
The Edserv Softsystems IPO listing date is on Mon, Mar 2, 2009.
