Bookbuilding IPO | ₹28 Cr | Listed at NSE SME | Fri, Feb 16, 2024 - Tue, Feb 20, 2024
Esconet Technologies IPO is a book build issue of ₹28.22 crores. The issue is entirely a fresh issue of 0.34 crore shares of ₹28.22 crore.
Esconet Technologies IPO bidding started from Feb 16, 2024 and ended on Feb 20, 2024. The allotment for Esconet Technologies IPO was finalized on Feb 21, 2024. The shares got listed on NSE SME on Feb 23, 2024.
Esconet Technologies IPO price band is set at ₹84 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,34,400 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,68,800.
Corporate Capitalventures Pvt.Ltd. is the book running lead manager and Skyline Financial Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is SS Corporate Securities Ltd..
Refer to Esconet Technologies IPO RHP for detailed Information.
IPO Open
Fri, Feb 16, 2024
IPO Close
Tue, Feb 20, 2024
Issue Price
₹84 per share
Market Cap (Pre-IPO)
₹103.82 Cr
| IPO Date | 16 to 20 Feb, 2024 |
| Listed on | Fri, Feb 23, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹84 |
| Issue Price | ₹84 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 33,60,000 shares (agg. up to ₹28 Cr) |
| Reserved for Market Maker | 1,76,000 shares SS Corporate Securities Ltd. (agg. up to ₹1 Cr) |
| Fresh Issue (Ex Market Maker) | 31,84,000 shares (agg. up to ₹27 Cr) |
| Net Offered to Public | 31,84,000 shares (agg. up to ₹27 Cr) |
| Share Holding Pre Issue | 90,00,000 shares |
| Share Holding Post Issue | 1,23,60,000 shares |
| NSE Symbol | ESCONET |
| ISIN | INE0RQZ01017 |
Esconet Technologies IPO comprises a total issue size of 33,60,000 shares. The net offer to the public is 31,84,000 shares, after excluding 1,76,000 shares allotted on a firm basis. Of the Net offer 15,90,400 (49.95%) are allocated to QIB, 4,78,400 (15.03%) allocated to NII 11,15,200 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 15,90,400 | 49.95% | 47.33% |
| − Anchor Investor Shares Offered | 9,53,600 | 28.38% | |
| − QIB (Ex. Anchor) Shares Offered | 6,36,800 | 18.95% | |
| NII (HNI) Shares Offered | 4,78,400 | 15.03% | 14.24% |
| Retail Shares Offered | 11,15,200 | 35.03% | 33.19% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,76,000 | 5.24% | |
| Total Shares Offered | 33,60,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,600 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,600 | ₹1,34,400 |
| Retail (Max) | 1 | 1,600 | ₹1,34,400 |
| HNI (Min) | 2 | 3,200 | ₹2,68,800 |
Esconet Technologies IPO raises ₹8.01 crore from anchor investors. Esconet Technologies IPO Anchor bid date is February 15, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Feb 15, 2024 |
| Shares Offered | 9,53,600 |
| Anchor Portion (₹ Cr.) | 8.01 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Mar 22, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, May 21, 2024 |
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.
| Period Ended | 30 Sep 2023 | 31 Mar 2023 |
|---|---|---|
| Assets | 42.60 | 27.98 |
| Total Income | 71.47 | 96.91 |
| Profit After Tax | 3.05 | 3.04 |
| NET Worth | 9.03 | 5.54 |
| Reserves and Surplus | 8.25 | 4.77 |
| Total Borrowing | 10.09 | 11.04 |
| Amount in ₹ Crore | ||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Working capital requirement of the company “Esconet Technologies Limited | 16.00 |
| 2 | Investment in Wholly Owned Subsidiary, viz. “Zeacloud Services Private Limited”, to fund its capital expenditure expenses. | 2.50 |
| 3 | General Corporate Expenses | 6.69 |
| KPI | |
|---|---|
| ROE | 75.54% |
| ROCE | 59.11% |
| Debt/Equity | 1.99 |
| RoNW | 54.83% |
| PAT Margin | 3.21% |
| Price to Book Value | 1.16 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 39.63 | 4.94 |
| P/E (x) | 24.87 | 16.99 |
| Promoter Holding | 89.18% | 64.94% |
| Market Cap | ₹103.82 Cr. |
The Esconet Technologies IPO is subscribed 507.24 times on February 20, 2024 6:21:00 PM (Day 3). The public issue subscribed 553.02 times in the retail category, 156.02 times in the QIB category, and 868.05 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 156.02 | 6,36,800 | 9,93,50,400 |
| NII* | 868.05 | 4,78,400 | 41,52,75,200 |
| Retail | 553.02 | 11,15,200 | 61,67,23,200 |
| Total | 507.24 | 22,30,400 | 1,13,13,48,800 |
Total Application : 3,85,452
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Issue Management Fees | 0.30 |
| 2 | Selling and Distribution Fees | 1.19 |
| 3 | Underwriting Commission | 1.19 |
| 4 | Advertising and marketing expenses | 0.15 |
| 5 | Fees payable to Registrar to the Issue | 0.01 |
| 6 | Brokerage and selling commission payable to SCSBs, Registered Brokers, RTAs and CDPs, as applicable | 0.00 |
| 7 | Processing fees to the SCSBs and to the Sponsor Banks for ASBA Forms procured by Registered Brokers, RTAs or CDPs | 0.00 |
| 8 | Printing and distribution of issue stationery | 0.01 |
| 9 | Listing fees | 0.01 |
| 10 | NSE Processing | 0.00 |
| 11 | Book Building software fees | 0.04 |
| 12 | Other regulatory expenses | 0.12 |
| 13 | Fees payable to legal counsel | 0.01 |
| 14 | Miscellaneous |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹84.00 |
| Open | ₹290.00 |
| Low | ₹275.50 |
| High | ₹294.95 |
| Last Trade | ₹275.50 |
Lead Manager Reports
Esconet Technologies IPO is a SME IPO of 33,60,000 equity shares of the face value of ₹10 aggregating up to ₹28 Crores. The issue is priced at ₹84 per share. The minimum order quantity is 1600.
The IPO opens on Fri, Feb 16, 2024, and closes on Tue, Feb 20, 2024.
Skyline Financial Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Esconet Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Esconet Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Esconet Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Esconet Technologies IPO opens on Fri, Feb 16, 2024 and closes on Tue, Feb 20, 2024.
Esconet Technologies IPO lot size is 1600, and the minimum amount required for application is ₹1,34,400.
You can apply in Esconet Technologies 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 Esconet Technologies IPO will be done on Wednesday, February 21, 2024, and the allotted shares will be credited to your demat account by Thu, Feb 22, 2024. Check the Esconet Technologies IPO allotment status.
The Esconet Technologies IPO listing date is on Fri, Feb 23, 2024.
