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 name | Esconet Technologies Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://www.esc.co.in/ |
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 date | 16 February 2024 |
| IPO Closing | 20 February 2024 |
| Basis of Allotment | 21 February 2024 |
| Initiation Refund | 22 February 2024 |
| Credit to Demat Account | 22 February 2024 |
| Listing Date | 23 February 2024 |
Esconet Technologies IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹28.22 Cr – 3,360,000 shares |
| Fresh Issue | ₹28.22 Cr – 3,360,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹80 to ₹84 per share |
| Lot size | 1600 Shares |
| Market Maker portion | 176,000 shares |
| Shareholding pre-issue | 9,000,000 |
| Shareholding post-issue | 12,360,000 |
| Listing Exchange | NSE SME |
Esconet Technologies IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹134,400 |
| Retail (Max) | 1 | 1600 | ₹134,400 |
| HNI (Min) | 2 | 3,200 | ₹268,800 |
Esconet Technologies IPO Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Esconet Technologies Financial Performance
| FY 2023 | H1 FY 2024 | |
| Revenue | 96.59 | 71.42 |
| Expenses | 92.26 | 67.36 |
| Net income | 3.18 | 3.05 |
Esconet Technologies Valuations & Margins
| FY 2021 | FY 2022 | FY 2023 | |
| EPS | (13.10) | 9.43 | 39.63 |
| PE ratio | – | – | 2.02 – 2.12 |
| RONW (%) | (56.42) | 28.89 | 54.83 |
| NAV | 72.29 | 32.65 | 23.22 |
| ROCE (%) | (8.33) | 20.76 | 59.11 |
| EBITDA (%) | 0.26 | 2.95 | 6.73 |
| Debt/Equity | 3.56 | 3.09 | 1.99 |
Company Promoters
- Mr. Santosh Kumar Agrawal
- Mr. Sunil Kumar Agrawal
Promoter Holding
| Pre Issue Share Holding | 89.18% |
| Post Issue Share Holding | 64.94% |
Esconet Technologies IPO Lead Manager(s)
CORPORATE CAPITAL VENTURES PRIVATE LIMITED
B1/E13, First Floor, Mohan Co-operative Industrial Estate,
Mathura Road, New Delhi – 110044
Phone: +91 11 41824066
Email: smeipo@ccvindia.com
Website: www.ccvindia.com
Esconet Technologies Registrar
SKYLINE FINANCIAL SERVICES PVT. LTD
D-153 A, 1st Floor, Okhla Industrial Area,
Phase – I, New Delhi-110020
Phone: +91- 11-40450193-197
Email: ipo@skylinerta.com
Website: www.skylinerta.com
Esconet Technologies Contact Details
ESCONET TECHNOLOGIES LIMITED
D-147 Okhla Industrial Area Phase 1,
South Delhi, New Delhi – 110020
Phone: +91 9311881642
E-mail: cs@esc.co.in
Website: www.esc.co.in
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
