Canarys Automations IPO will open for subscription from 27 September 2023. The company aims for an issue size of ₹47.03 Cr through this IPO.
Company Overview
| Full name | Canarys Automations Limited |
| Sector | Information Technology |
| Industry | IT – Software |
| Company Website | https://ecanarys.com/ |
About Company
Incorporated in 1991, Canarys is a leading IT solutions provider with over 30 years of existence in the industry. Its expertise lies in enabling digital transformation for businesses through a comprehensive range of software solutions in the space of Digitalization, Modernization, Automation, and Intelligence. Canarys Automations business operates across two verticals.
- Technology Solutions: The technology solution offerings include a wide array of consulting solutions in Digitalization, Modernization, Cloudification, Automation, Transformation, and Intelligence. Technology expertise includes DevOps Consulting (Azure, GitHub, Atlassian, GitLab, etc.), Cloud Consulting (Azure, AWS, GCP), Digital Enterprise Solutions using SAP, MS Dynamics 365, RPA, Digital Applications, and Mobility Solutions.
- Water Resource Management Solution: Its offerings include automation solutions to modernize irrigation water conservation and improve water use efficiency, Turnkey flood risk assessment, and mitigation, cloud-based water utilization process automation for water sharing in rivers and canals, and SCADA gate control systems.
The company’s solutions span across various industry sectors, BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, Insurance, and more.
The Objectives of the Issue
- Funding of expenditure relating to solutions development for digital transformation and water resources management solutions.
- Creation of a new delivery center including infrastructure thereof and upgrading existing facilities.
- Funding working capital requirements of the Company.
- General corporate purposes.
Canarys Automations IPO Timetable
| IPO Opening date | 27 September 2023 |
| IPO Closing | 03 October 2023 |
| Basis of Allotment | 06 October 2023 |
| Initiation Refund | 09 October 2023 |
| Credit to Demat Account | 10 October 2023 |
| Listing Date | 11 October 2023 |
Canarys Automations IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹47.03 Cr – 15,172,000 shares |
| Fresh Issue | ₹47.03 Cr – 15,172,000 shares |
| Offer for sale | Nil |
| Face value | ₹02 per share |
| Price Band | ₹29 to ₹31 per share |
| Lot size | 4000 Shares |
| Market Maker portion | 760,000 shares |
| Shareholding pre-issue | 41,011,920 |
| Shareholding post-issue | 56,183,920 |
| Listing Exchange | NSE SME |
Canarys Automations IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹124,000 |
| Retail (Max) | 1 | 4000 | ₹124,000 |
| HNI (Min) | 2 | 8,000 | ₹248,000 |
Canarys Automations IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Canarys Automations Financial Performance
| FY 2021 | FY 2022 | FY 2023 | |
| Revenue | 25.62 | 51.51 | 74.52 |
| Expenses | 22.79 | 45.77 | 63.67 |
| Net income | 2.11 | 4.56 | 8.53 |
Canarys Automations Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | 1.16 | 2.08 | 3.92 |
| PE ratio | – | – | 7.40 – 7.91 |
| RONW (%) | 16.06 | 23.99 | 31.54 |
| NAV | 7.22 | 8.66 | 12.44 |
| ROCE (%) | 24.0 | 26.0 | 33.0 |
| EBITDA (%) | 13.03 | 13.72 | 18.08 |
| Debt/Equity | NA | NA | NA |
Canarys Automations Promoters
- Mr. Metikurke Ramaswamy Raman Subbarao
- Mr. Danavadi Krishnamurthy Arun
- Mr. Raghu Chandrashekhariah
- Mr. Sheshadri Yedavanahalli Srinivas
- Mr. Pushparaj Shetty
- Mr. Nagaraju Vineeth
Promoter Holding
| Pre Issue Share Holding | 747.49% |
| Post Issue Share Holding | – |
Canarys Automations IPO Lead Manager(s)
INDORIENT FINANCIAL SERVICES LIMITED
A/501, Rustomjee Central Park, Executive Spaces,
Andheri Kurla Road, Chakala, Mumbai – 400093, Maharashtra
Phone: +91 79772 12186
Email: compliance-ifsl@indorient.in
Website: www.indorient.in
Canarys Automations Registrar
LINK INTIME INDIA PRIVATE LIMITED
C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200
Email: canarys.ipo@linkintime.co.in
Website: www.linkintime.co.in
Canarys Automations Contact Details
CANARYS AUTOMATIONS LIMITED
No. 566 & 567, 2nd Floor, 30th Main, Attimabbe Road, Banagirinagara,
Banashankari 3rd Stage, Bengaluru 560085, Karnataka, India
Phone: +91-98458 62780
E-mail: nagashree.hegde@ecanarys.com
Website: www.ecanarys.com
Canarys Automations IPO Allotment Status
Canarys Automations IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.
Final thoughts
Canarys Automations IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and subscribe if you are feeling good about the company. I hope this post will give you enough details to make a fundamental study of the company. learn well and make wise decisions.
Happy Investing
