Canarys Automations IPO

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 nameCanarys Automations Limited
SectorInformation Technology
IndustryIT – Software
Company Website

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 date27 September 2023
IPO Closing03 October 2023
Basis of Allotment06 October 2023
Initiation Refund09 October 2023
Credit to Demat Account10 October 2023
Listing Date11 October 2023
(Cut-off time for UPI mandate confirmation – 5 PM on October 3, 2023)

Canarys Automations IPO details

Issue typeBook Built Issue IPO
IPO issue size₹47.03 Cr – 15,172,000 shares
Fresh Issue₹47.03 Cr – 15,172,000 shares
Offer for saleNil
Face value₹02 per share
Price Band ₹29 to ₹31 per share
Lot size4000 Shares
Market Maker portion760,000 shares
Shareholding pre-issue41,011,920
Shareholding post-issue56,183,920
Listing ExchangeNSE SME

Canarys Automations IPO Lot Size

Retail (Min)14000₹124,000
Retail (Max)14000₹124,000
HNI (Min)28,000₹248,000

Canarys Automations IPO Reservation Details

QIB Shares Offered50%
NII (HNI) Shares Offered15%
Retail Shares Offered35%

Canarys Automations Financial Performance

 FY 2021FY 2022FY 2023
Net income2.114.568.53
(Amount in ₹ Crores)

Canarys Automations Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio7.40 – 7.91
RONW (%)16.0623.9931.54
ROCE (%)
EBITDA (%)13.0313.7218.08

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 Holding747.49%
Post Issue Share Holding

Canarys Automations IPO Lead Manager(s)

A/501, Rustomjee Central Park, Executive Spaces,
Andheri Kurla Road, Chakala, Mumbai – 400093, Maharashtra
Phone: +91 79772 12186

Canarys Automations Registrar

C-101, 1st Floor, 247 Park
L.B.S. Marg, Vikhroli West
Mumbai – 400 083, Maharashtra
Phone: +91 22 4918 6200

Canarys Automations Contact Details

No. 566 & 567, 2nd Floor, 30th Main, Attimabbe Road, Banagirinagara,
Banashankari 3rd Stage, Bengaluru 560085, Karnataka, India
Phone: +91-98458 62780

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

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