Bookbuilding IPO | ₹35 Cr | Listed at NSE SME | Thu, Mar 2, 2023 - Mon, Mar 6, 2023
Systango Technologies IPO is a book build issue of ₹34.82 crores. The issue is entirely a fresh issue of 0.39 crore shares of ₹34.82 crore.
Systango Technologies IPO bidding started from Mar 2, 2023 and ended on Mar 6, 2023. The allotment for Systango Technologies IPO was finalized on Mar 10, 2023. The shares got listed on NSE SME on Mar 15, 2023.
Systango Technologies IPO price band is set at ₹90 per share. The lot size for an application is 1,600. The minimum amount of investment required by an retail is ₹1,44,000 (1600 shares) (based on upper price). The minimum lot size for investment in HNI is 2 lots (3,200 shares), amounting to ₹2,88,000.
Hem Securities Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue. The Market Maker of the company is Hem Finlease Pvt.Ltd..
Refer to Systango Technologies IPO RHP for detailed Information.
IPO Open
Thu, Mar 2, 2023
IPO Close
Mon, Mar 6, 2023
Issue Price
₹90 per share
Market Cap (Pre-IPO)
₹132.02 Cr
| IPO Date | 2 to 6 Mar, 2023 |
| Listed on | Wed, Mar 15, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹85 to ₹90 |
| Issue Price | ₹90 per share |
| Lot Size | 1,600 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | NSE SME |
| Total Issue Size | 38,68,800 shares (agg. up to ₹35 Cr) |
| Reserved for Market Maker | 1,96,800 shares Hem Finlease Pvt.Ltd. (agg. up to ₹2 Cr) |
| Fresh Issue (Ex Market Maker) | 36,72,000 shares (agg. up to ₹33 Cr) |
| Net Offered to Public | 36,72,000 shares (agg. up to ₹33 Cr) |
| Share Holding Pre Issue | 1,08,00,000 shares |
| Share Holding Post Issue | 1,46,68,800 shares |
| NSE Symbol | SYSTANGO |
| ISIN | INE0O7R01011 |
Systango Technologies IPO comprises a total issue size of 38,68,800 shares. The net offer to the public is 36,72,000 shares, after excluding 1,96,800 shares allotted on a firm basis. Of the Net offer 18,33,600 (49.93%) are allocated to QIB, 5,52,000 (15.03%) allocated to NII 12,86,400 (35.03%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue |
|---|---|---|---|
| QIB Shares Offered | 18,33,600 | 49.93% | 47.39% |
| − Anchor Investor Shares Offered | 10,99,200 | 28.41% | |
| − QIB (Ex. Anchor) Shares Offered | 7,34,400 | 18.98% | |
| NII (HNI) Shares Offered | 5,52,000 | 15.03% | 14.27% |
| Retail Shares Offered | 12,86,400 | 35.03% | 33.25% |
| Firm Reservations | |||
| Market Maker Shares Offered | 1,96,800 | 5.09% | |
| Total Shares Offered | 38,68,800 | 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 | ₹1,44,000 |
| Retail (Max) | 1 | 1,600 | ₹1,44,000 |
| HNI (Min) | 2 | 3,200 | ₹2,88,000 |
Systango Technologies IPO raises ₹9.89 crore from anchor investors. Systango Technologies IPO Anchor bid date is March 1, 2023.
📝 Anchor Investors Letter (PDF)
| Bid Date | Wed, Mar 1, 2023 |
| Shares Offered | 10,99,200 |
| Anchor Portion (₹ Cr.) | 9.89 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Apr 9, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Jun 8, 2023 |
Incorporated in 2004, Systango Technologies Limited is engaged in the business of providing software solutions. The offerings of the company enable companies to design, implement and manage their own customized digital platforms.
These platforms designed by Systango include Web2, Web3, and mobile applications with a strong emphasis on data and analytics.
The range of software solutions provided by the company is wide and includes- Website development, Mobile app development (both for iOS and Android applications), Web3 development, DeFi (Decentralized finance), Data Engineering, Implementation of blockchain, Cloud computing and Digital Marketing.
Systango Technologies offers its services across various sectors like Hospitality, Property Tech, Financial Services (FinTech), Fantasy Sports, and many others.
The company has evolved as a professional and technical service provider over the years of its operations. Their end-to-end technology solutions and support help entities and organization effectively implement innovations in their system and keep up with the new-age world.
| Period Ended | 30 Sep 2022 | 31 Mar 2022 | 31 Mar 2021 | 31 Mar 2020 |
|---|---|---|---|---|
| Assets | 27.32 | 22.89 | 15.38 | 7.44 |
| Total Income | 23.01 | 33.92 | 23.88 | 14.55 |
| Profit After Tax | 5.72 | 6.77 | 5.68 | 2.52 |
| NET Worth | 22.97 | 17.22 | 10.46 | 4.77 |
| Reserves and Surplus | 20.27 | 14.52 | 7.76 | 4.22 |
| Total Borrowing | 0.00 | 0.00 | 0.00 | 0.00 |
| Amount in ₹ Crore | ||||
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Strategic Investment and Acquisitions | 8.00 |
| 2 | Investment in Subsidiaries | 10.00 |
| 3 | To Meet Working Capital Requirements | 10.00 |
| 4 | General Corporate Purposes | 3.43 |
| KPI | |
|---|---|
| ROE | 49.83 |
| ROCE | 47.62 |
| Debt/Equity | 0.32 |
| RoNW | 39.89 |
| PAT Margin | 21.78% |
| EBITDA Margin | 22.78% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 6.59 | |
| P/E (x) | 15.13 | |
| Promoter Holding | 97.73% | 71.96% |
| Market Cap | ₹132.02 Cr. |
The Systango Technologies IPO is subscribed 64.99 times on March 6, 2023 7:00:00 PM (Day 3). The public issue subscribed 66.59 times in the retail category, 14.1 times in the QIB category, and 230.36 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 14.1 | 18,33,600 | 2,58,44,800 |
| NII* | 230.36 | 5,52,000 | 12,71,58,400 |
| Retail | 66.59 | 12,86,400 | 8,56,56,000 |
| Total | 64.99 | 36,72,000 | 23,86,59,200 |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manger Fees | 0.25 |
| 2 | Fees Payable to Registrar to the Issue | 0.01 |
| 3 | Fees Payable for Statutory Advertising and Publishing Expenses | 0.04 |
| 4 | Fees Payable to Regulators including Stock Exchange | 0.08 |
| 5 | Payment for Printing & Stationery, Postage, etc. | 0.03 |
| 6 | Fees Payable to Auditor, Legal Advisors and other Professionals | 0.05 |
| 7 | Others (Fees payable for Marketing & distribution expenses, Selling Commission, Syndicate Members Commission, Brokerage, Processing Fees*, Underwriting fees and Miscellaneous Expenses) | 2.93 |
| Price Details | NSE SME |
|---|---|
| Final Issue Price | ₹90.00 |
| Open | ₹98.00 |
| Low | ₹95.00 |
| High | ₹102.90 |
| Last Trade | ₹102.90 |
Lead Manager Reports
Systango Technologies IPO is a SME IPO of 38,68,800 equity shares of the face value of ₹10 aggregating up to ₹35 Crores. The issue is priced at ₹90 per share. The minimum order quantity is 1600.
The IPO opens on Thu, Mar 2, 2023, and closes on Mon, Mar 6, 2023.
Bigshare 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 Systango Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Systango Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Systango Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Systango Technologies IPO opens on Thu, Mar 2, 2023 and closes on Mon, Mar 6, 2023.
Systango Technologies IPO lot size is 1600, and the minimum amount required for application is ₹1,44,000.
You can apply in Systango 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 Systango Technologies IPO will be done on Friday, March 10, 2023, and the allotted shares will be credited to your demat account by Tue, Mar 14, 2023. Check the Systango Technologies IPO allotment status.
The Systango Technologies IPO listing date is on Wed, Mar 15, 2023.
