Fixed Price IPO | ₹31 Cr | Listed at NSE SME | Fri, Nov 3, 2023 - Tue, Nov 7, 2023
Micropro Software Solutions IPO is a fixed price issue of ₹30.70 crores. The issue is entirely a fresh issue of 0.38 crore shares of ₹30.70 crore.
Micropro Software Solutions IPO bidding started from Nov 3, 2023 and ended on Nov 7, 2023. The allotment for Micropro Software Solutions IPO was finalized on Nov 9, 2023. The shares got listed on NSE SME on Nov 10, 2023.
Micropro Software Solutions IPO price is ₹81 per share. The lot size for an application is 1,600. The minimum amount of investment required by an individual investor (retail) is ₹1,29,600 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,59,200.
Swaraj shares & securities Pvt.Ltd. is the book running lead manager and Purva Sharegistry (India) Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Nikunj Stock Brokers Ltd..
Refer to Micropro Software Solutions IPO RHP for detailed Information.
IPO Open
Fri, Nov 3, 2023
IPO Close
Tue, Nov 7, 2023
Issue Price
₹81 per share
Market Cap (Pre-IPO)
₹116.48 Cr
| IPO Date | 3 to 7 Nov, 2023 |
| Listed on | Fri, Nov 10, 2023 |
| Face Value | ₹10 per share |
| Issue Price | ₹81 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Total Issue Size | 37,90,400 shares (agg. up to ₹31 Cr) |
| Reserved for Market Maker | 1,90,400 shares Nikunj Stock Brokers Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 36,00,000 shares (agg. up to ₹29 Cr) |
| Net Offered to Public | 36,00,000 shares (agg. up to ₹29 Cr) |
| Share Holding Pre Issue | 1,05,09,000 shares |
| Share Holding Post Issue | 1,42,99,400 shares |
| NSE Symbol | MICROPRO |
| ISIN | INE0PZK01014 |
Micropro Software Solutions IPO comprises a total issue size of 37,90,400 shares. The net offer to the public is 36,00,000 shares, after excluding 1,90,400 shares allotted on a firm basis. Of the Net offer 18,00,000 (50.00%) allocated to NII 18,00,000 (50.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| NII (HNI) Shares Offered | 18,00,000 | 50.00% | 47.49% |
| Retail Shares Offered | 18,00,000 | 50.00% | 47.49% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,90,400 | 5.02% | |
| Total Shares Offered | 37,90,400 | 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 | ₹1,29,600 |
| Retail (Max) | 1 | 1,600 | ₹1,29,600 |
| HNI (Min) | 2 | 3,200 | ₹2,59,200 |
Incorporated in 1988, Micropro is an IT service company engaged in the business of Software Development, Data Processing, and Software Training. The company's tech team comprises more than 150 professionals. The company serves over 4000 customers catering to countries like India, USA, UAE and Africa. The company also provides software solutions for the government sector, PSU's and corporate clients. Micropro is an ISO 90001:2015 company which designs software solutions across various industry verticals.
The company provides following services such as:-
| Period Ended | 31 May 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 24.11 | 25.60 | 20.49 | 15.48 |
| Total Income | 2.76 | 22.17 | 17.55 | 13.92 |
| Profit After Tax | 0.48 | 5.92 | 2.67 | 1.30 |
| NET Worth | 16.48 | 10.56 | 7.89 | |
| Reserves and Surplus | 16.71 | 16.23 | 10.31 | 7.64 |
| Total Borrowing | 3.38 | 3.98 | 5.92 | 4.38 |
| 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 requirements | 8.50 |
| 2 | Funding capital expenditure requirements | 12.85 |
| 3 | General corporate expenses | 4.84 |
| KPI | |
|---|---|
| ROE | 44% |
| ROCE | 41% |
| Debt/Equity | 0.13 |
| RoNW | 35.93% |
| PAT Margin | 27.00% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 5.78 | |
| P/E (x) | 0.34 | 40.7 |
| Promoter Holding | 63.40% | 46.59% |
| Market Cap | ₹116.48 Cr. |
The Micropro Software Solutions IPO is subscribed 36.88 times on November 7, 2023 7:30:00 PM (Day 3). The public issue subscribed 49.08 times in the retail category, [.] times in the QIB category, and 22.6 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| NII* | 22.6 | 18,00,000 | 4,06,83,200 |
| Retail | 49.08 | 18,00,000 | 8,83,47,200 |
| Total | 36.88 | 36,00,000 | 13,27,76,000 |
Total Application : 55,218
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue relating expenses such as fees to Lead Manager, Fixed Fee, Registrar to the Issue, Legal Advisors, Auditors, statutory advertisements and other expenses incurred / to be incurred including promotional expenses | 4.33 |
| 2 | Underwriting commission, brokerage and selling commission (including Commission/ processing fees for SCSBs, Sponsor Bank, Members of the Syndicate, Registered Brokers, RTAs and CDPs | 0.07 |
| 3 | Listing fees, Stock Exchange processing/ listing fees, software fees, Depositories’ fees, other regulatory expenses and sundry expenses | 0.11 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹81.00 |
| Open | ₹80.00 |
| Low | ₹76.00 |
| High | ₹80.80 |
| Last Trade | ₹76.00 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
Micropro Software Solutions IPO is a SME IPO of 37,90,400 equity shares of the face value of ₹10 aggregating up to ₹31 Crores. The issue is priced at ₹81 per share. The minimum order quantity is 1600.
The IPO opens on Fri, Nov 3, 2023, and closes on Tue, Nov 7, 2023.
Purva Sharegistry (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 Micropro Software Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Micropro Software Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Micropro Software Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Micropro Software Solutions IPO opens on Fri, Nov 3, 2023 and closes on Tue, Nov 7, 2023.
Micropro Software Solutions IPO lot size is 1600, and the minimum amount required for application is ₹1,29,600.
You can apply in Micropro Software Solutions 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 Micropro Software Solutions IPO will be done on Thursday, November 9, 2023, and the allotted shares will be credited to your demat account by Fri, Nov 10, 2023. Check the Micropro Software Solutions IPO allotment status.
The Micropro Software Solutions IPO listing date is on Fri, Nov 10, 2023.
