Esconet Technologies IPO

Esconet Technologies IPO will open for subscription from 16 February 2024. The company aims for an issue size of ₹28.22 Cr through this IPO.

Company Overview

Full nameEsconet Technologies Limited
Company Website

About Company

Founded in 2012, Esconet Technologies is involved in meeting a broad spectrum of IT requirements, including high-end supercomputing solutions, and data center facilities comprising storage servers, network security, virtualization, and data protection. Esconet also offers cloud services through its wholly-owned subsidiary, ZeaCloud Services. Throughout this journey, Esconet has not only gained experience but also built a clientele base of private and public sector organizations listed below:

  • Ministry of Defence
  • National Informatics Centre-MeitY
  • National Informatics Centre Services Inc. – MeitY
  • Indian Institute of Technology
  • Indraprastha Institute of Technology Limited
  • Bharat Electronics Limited
  • Oil & Natural Gas Commission Limited
  • Engineers India Limited
  • Hindustan National Glass & Industries Limited & many more

Recognizing the demand in the Indian market, Esconet introduced its brand, HexaData, specializing in high-end servers, workstations, and storage systems. Additionally, Esconet’s strategic collaboration with NVIDIA has contributed to its growth in the Artificial Intelligence (AI) and Machine Learning (ML) domain, enhancing its servers and workstations.

The Objectives of the Issue

  • The working capital requirement of the company,
  • Investment in Wholly Owned Subsidiary, viz. Zeacloud Services Private Limited, to fund its capital expenditure expenses, and
  • General Corporate Expenses.

Esconet Technologies IPO Timetable

IPO Opening date16 February 2024
IPO Closing20 February 2024
Basis of Allotment21 February 2024
Initiation Refund22 February 2024
Credit to Demat Account22 February 2024
Listing Date23 February 2024
(Cut-off time for UPI mandate confirmation – 5 PM on February 20, 2024)

Esconet Technologies IPO details

Issue typeBook Built Issue IPO
IPO issue size₹28.22 Cr – 3,360,000 shares
Fresh Issue₹28.22 Cr – 3,360,000 shares
Offer for saleNil
Face value₹10 per share
Price Band ₹80 to ₹84 per share
Lot size1600 Shares
Market Maker portion176,000 shares
Shareholding pre-issue9,000,000
Shareholding post-issue12,360,000
Listing ExchangeNSE SME

Esconet Technologies IPO Lot Size

Retail (Min)11600₹134,400
Retail (Max)11600₹134,400
HNI (Min)23,200₹268,800

Esconet Technologies IPO Reservation Details

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

Esconet Technologies Financial Performance

 FY 2023H1 FY 2024
Net income3.183.05
(Amount in ₹ Crores)

Esconet Technologies Valuations & Margins

FY 2021FY 2022FY 2023
PE ratio2.02 – 2.12
RONW (%)(56.42)28.8954.83
ROCE (%)(8.33)20.7659.11
EBITDA (%)0.262.956.73

Company Promoters

  • Mr. Santosh Kumar Agrawal
  • Mr. Sunil Kumar Agrawal

Promoter Holding

Pre Issue Share Holding89.18%
Post Issue Share Holding64.94%

Esconet Technologies IPO Lead Manager(s)

B1/E13, First Floor, Mohan Co-operative Industrial Estate,
Mathura Road, New Delhi – 110044
Phone: +91 11 41824066

Esconet Technologies Registrar

D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone: +91- 11-40450193-197

Esconet Technologies Contact Details

D-147 Okhla Industrial Area Phase 1,
South Delhi, New Delhi – 110020
Phone: +91 9311881642

Esconet Technologies IPO Allotment Status

Esconet Technologies IPO allotment status will be available on Skyline Financial Services’ website. Click on this link to get allotment status.

Final thoughts

Esconet Technologies 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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