Bookbuilding IPO | ₹33 Cr | Listed at NSE SME | Wed, May 31, 2023 - Fri, Jun 2, 2023
Sahana System IPO is a book build issue of ₹32.74 crores. The issue is entirely a fresh issue of 0.24 crore shares of ₹32.74 crore.
Sahana System IPO bidding started from May 31, 2023 and ended on Jun 2, 2023. The allotment for Sahana System IPO was finalized on Jun 7, 2023. The shares got listed on NSE SME on Jun 12, 2023.
Sahana System IPO price band is set at ₹135 per share. The lot size for an application is 1,000. The minimum amount of investment required by an retail is ₹1,35,000 (1000 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (2,000 shares), amounting to ₹2,70,000.
Unistone Capital 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 Rikhav Securities Ltd..
Refer to Sahana System IPO RHP for detailed Information.
IPO Open
Wed, May 31, 2023
IPO Close
Fri, Jun 2, 2023
Issue Price
₹135 per share
Market Cap (Pre-IPO)
₹107.95 Cr
| IPO Date | 31 May to 2 Jun, 2023 |
| Listed on | Mon, Jun 12, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹132 to ₹135 |
| Issue Price | ₹135 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 24,25,000 shares (agg. up to ₹33 Cr) |
| Reserved for Market Maker | 1,25,000 shares Rikhav Securities Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 23,00,000 shares (agg. up to ₹31 Cr) |
| Net Offered to Public | 23,00,000 shares (agg. up to ₹31 Cr) |
| Share Holding Pre Issue | 55,71,493 shares |
| Share Holding Post Issue | 79,96,493 shares |
| NSE Symbol | SAHANA |
| ISIN | INE0LEX01011 |
Sahana System IPO comprises a total issue size of 24,25,000 shares. The net offer to the public is 23,00,000 shares, after excluding 1,25,000 shares allotted on a firm basis. Of the Net offer 2,30,000 (10.00%) are allocated to QIB, 10,35,000 (45.00%) allocated to NII 10,35,000 (45.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 2,30,000 | 10.00% | 9.48% |
| NII (HNI) Shares Offered | 10,35,000 | 45.00% | 42.68% |
| Retail Shares Offered | 10,35,000 | 45.00% | 42.68% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,25,000 | 5.15% | |
| Total Shares Offered | 24,25,000 | 100.00% | 100.00% |
Investors can bid for a minimum of 1,000 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1,000 | ₹1,35,000 |
| Retail (Max) | 1 | 1,000 | ₹1,35,000 |
| HNI (Min) | 2 | 2,000 | ₹2,70,000 |
Incorporated in 2020, "Sahana System Limited" is engaged in the business of offering IT-related services. These include services like web app development, mobile application development, AI & ML development, ChatBot development, and product prototyping.
Further, the company also offers graphics designing, UI / UX design, SEO & ASO, digital marketing, website & application migration, cyber security, and outsourcing of IT services.
Sahana System has been certified as CMMI Maturity Level - 3 in E-Commerce department by Equalitas Certifications Limited. They also have received ISO 9001:2015 and ISO/IEC 27001:2013 accreditation from Equalitas Certifications Limited.
The Company is recognized as a start-up by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry. The recognition certificate is valid for 10 years from the date of incorporation of the Company.
| Period Ended | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|
| Assets | 24.18 | 14.99 | 7.73 |
| Total Income | 24.14 | 12.17 | 3.31 |
| Profit After Tax | 6.40 | 1.41 | 0.16 |
| NET Worth | 10.80 | 4.52 | 0.17 |
| Reserves and Surplus | 5.23 | 1.43 | 0.16 |
| Total Borrowing | 4.77 | 5.13 | 7.23 |
| Amount in ₹ Crore | |||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | To meet the working capital requirements | 6.50 |
| 2 | Installation of EV charging Station | 14.45 |
| 3 | General Corporate Purposes | 6.55 |
| KPI | |
|---|---|
| ROE | 83.52% |
| ROCE | 61.05% |
| Debt/Equity | 0.44 |
| RoNW | 59.24% |
| PAT Margin | 26.49% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 11.48 | |
| P/E (x) | 16.88 | |
| Promoter Holding | 90.25% | |
| Market Cap | ₹107.95 Cr. |
The Sahana System IPO is subscribed 9.99 times on June 2, 2023 7:29:00 PM (Day 3). The public issue subscribed 12.97 times in the retail category, 9.7 times in the QIB category, and 7.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 9.7 | 2,30,000 | 22,32,000 |
| NII* | 7.07 | 10,35,000 | 73,15,000 |
| Retail | 12.97 | 10,35,000 | 1,34,28,000 |
| Total | 9.99 | 23,00,000 | 2,29,75,000 |
Total Application : 13,428
*Market Maker portion is not included to NII/HNI.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Issue relating expenses such as fees to Book Running Lead Managers Fixed Fee, Registrar to the Issue, Legal Advisors, Auditors, Paper Advertisements and other expenses incurred / to be incurred including promotional expenses | 0.45 |
| 2 | Underwriting commission, brokerage and selling, marketing, commission (including Commission/ processing fees for SCSBs, Sponsor Bank, Members of the Syndicate, Registered Brokers, RTAs and CDPs | 4.51 |
| 3 | Listing fees, Stock Exchange processing/ listing fees, software fees, Depositories’ fees, other regulatory expenses and sundry expenses. | 0.28 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹135.00 |
| Open | ₹163.00 |
| Low | ₹163.00 |
| High | ₹171.15 |
| Last Trade | ₹171.15 |
Purva Sharegistry (India) Pvt.Ltd.
Lead Manager Reports
Sahana System IPO is a SME IPO of 24,25,000 equity shares of the face value of ₹10 aggregating up to ₹33 Crores. The issue is priced at ₹135 per share. The minimum order quantity is 1000.
The IPO opens on Wed, May 31, 2023, and closes on Fri, Jun 2, 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 Sahana System IPO using UPI as a payment gateway. Zerodha customers can apply in Sahana System IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sahana System IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sahana System IPO opens on Wed, May 31, 2023 and closes on Fri, Jun 2, 2023.
Sahana System IPO lot size is 1000, and the minimum amount required for application is ₹1,35,000.
You can apply in Sahana System 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 Sahana System IPO will be done on Wednesday, June 7, 2023, and the allotted shares will be credited to your demat account by Fri, Jun 9, 2023. Check the Sahana System IPO allotment status.
The Sahana System IPO listing date is on Mon, Jun 12, 2023.
