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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 ₹81.00 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). The minimum lot size investment for 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 Date | November 3, 2023 to November 7, 2023 |
| Listing Date | November 10, 2023 |
| Face Value | ₹10 per share |
| Issue Price Band | |
| Issue Price Final | ₹81 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh Capital |
| Total Issue Size | 37,90,400 shares (aggregating up to ₹30.70 Cr) |
| Reserved for Market Maker | 1,90,400 shares Nikunj Stock Brokers Ltd. (aggregating up to ₹1.54 Cr) |
| Net Offered to Public | 36,00,000 shares (aggregating up to ₹29.16 Cr) |
| Issue Type | Fixed Price IPO |
| Listing At | NSE SME |
| Share Holding Pre Issue | 1,05,09,000 shares |
| Share Holding Post Issue | 1,42,99,400 shares |
Micropro Software Solutions IPO offers total 37,90,400 shares. Out of which 18,00,000 (47.49%) allocated to NII, 18,00,000 (47.49%) allocated to RII.
| Investor Category | Shares Offered |
|---|---|
| Market Maker Shares Offered | 1,90,400 (5.02%) |
| NII (HNI) Shares Offered | 18,00,000 (47.49%) |
| Retail Shares Offered | 18,00,000 (47.49%) |
| Total Shares Offered | 37,90,400 (100.00%) |
Micropro Software Solutions IPO opens on November 3, 2023, and closes on November 7, 2023.
| IPO Open Date | Fri, Nov 3, 2023 |
| IPO Close Date | Tue, Nov 7, 2023 |
| Tentative Allotment | Thu, Nov 9, 2023 |
| Initiation of Refunds | Fri, Nov 10, 2023 |
| Credit of Shares to Demat | Fri, Nov 10, 2023 |
| Tentative Listing Date | Fri, Nov 10, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Nov 7, 2023 |
Investors can bid for a minimum of 1,600 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| 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 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
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:-
Micropro Software Solutions Limited's revenue increased by 26.32% and profit after tax (PAT) rose by 121.69% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 May 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,411.30 | 2,559.57 | 2,048.58 | 1,547.57 |
| Total Income | 275.95 | 2,217.20 | 1,755.17 | 1,392.48 |
| Profit After Tax | 47.65 | 592.23 | 267.14 | 129.51 |
| Net Worth | 1,648.21 | 1,055.98 | 788.84 | |
| Reserves and Surplus | 1,670.86 | 1,623.21 | 1,030.98 | 763.84 |
| Total Borrowing | 338.03 | 397.97 | 592.05 | 437.81 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Micropro Software Solutions IPO is ₹116.48 Cr.
| KPI | Values |
|---|---|
| ROE | 44% |
| ROCE | 41% |
| Debt/Equity | 0.13 |
| RoNW | 35.93% |
The Company proposes to utilize the funds being raised through this Issue towards the below-mentioned objects and gain benefits of listing on the Stock Exchange.
1. Working capital requirements;
2. Funding capital expenditure requirements;
3. General Corporate purposes
[Dilip Davda] The company is engaged in software developments and IT solution services. It has posted growth in its top lines for the reported periods till FY23. The sudden boost in its bottom line for FY23 appears to be a window dressing to pave the way for fancy valuations. Based on FY24 annualized earnings, the issue is aggressively priced. There is no harm in skipping this pricey and dicey bet. Read detail review...
| Listing Date | November 10, 2023 |
| BSE Script Code | |
| NSE Symbol | MICROPRO |
| ISIN | INE0PZK01014 |
| Final Issue Price | ₹81 per share |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹81.00 |
| Open | ₹80.00 |
| Low | ₹76.00 |
| High | ₹80.80 |
| Last Trade | ₹76.00 |
Micropro Software Solutions Ltd.
Plot No. 28, 702, Wing A
7th Floor, IT Park,
Gayatri Nagar,
Nagpur, Maharashtra, 440022
Phone: +91-9373693405
Email: compliance@microproindia.com
Website: http://www.microproindia.com/
Purva Sharegistry (India) Pvt.Ltd.
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
Micropro Software Solutions IPO is a SME IPO of 37,90,400 equity shares of the face value of ₹10 aggregating up to ₹30.70 Crores. The issue is priced at ₹81 per share. The minimum order quantity is 1600.
The IPO opens on November 3, 2023, and closes on November 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 November 3, 2023 and closes on November 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 Friday, November 10, 2023. Check the Micropro Software Solutions IPO allotment status.
The Micropro Software Solutions IPO listing date is on Friday, November 10, 2023.
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