Sancode Technologies IPO will open for subscription from 31 March 2023. the company aims for an issue size of ₹5.15 Crores through this IPO.
About Company
Incorporated in 2016, Sancode Technologies is a software and product development company offering an API-enabled platform and solutions. The company delivers solutions to its customers by working in collaboration with a network of implementation partners in the following areas:
- Digital transformation
- Workflow automation
- Artificial intelligence (AI) and Machine learning (ML)
- Robotic Process Automation (RPA) and Data Analytics
- Metaverse and Web3 applications
- System Integration
The company has evolved its business to develop, provide, undertake, design, distribute, and deal in systems and application software, undertake offshore software development projects, digital transformation, cloud migration, advanced analytics, robotic process automation, machine learning, and AI projects.
Sancode Technologies offers its services across industries and a diversified customer base mostly in the United States of America including clients from manufacturing, FMCG, banks and financial institutions, retail, and real estate.
Basic details about the company
| Full name | Sancode Technologies Limited |
| Sector | Information Technology |
| Industry | IT – Software |
| Company Website | https://www.sancodetech.com/ |
The Objective of the Issue
- Funding working capital requirements.
- General corporate purposes.
IPO Timetable
| IPO Opening date | 31 March 2023 |
| IPO Closing | 06 April 2023 |
| Basis of Allotment | 12 April 2023 |
| Initiation Refund | 13 April 2023 |
| Credit to Demat Account | 17 April 2023 |
| Listing Date | 18 April 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹5.15 Cr – 1,095,000 shares |
| Fresh Issue | ₹5.15 Cr – 1,095,000 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Offer price | ₹47 per share |
| Lot size | 3000 Shares |
| Retail Allocation | 50% |
| Listing Exchange | BSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹141,000 |
| Retail (Max) | 1 | 3000 | ₹141,000 |
| HNI (Min) | 2 | 6,000 | ₹282,000 |
Reservation Details
| QIB Shares Offered | – |
| NII (HNI) Shares Offered | 50% |
| Retail Shares Offered | 50% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | H1 FY 2023 | |
| Revenue | 12.67 | 155.62 | 243.86 | 142.49 |
| Expenses | 189.64 | 188.52 | 204.46 | 66.14 |
| Net income | (112.94) | (4.60) | 62.95 | 66.12 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | (3.81) | (0.15) | 2.42 |
| PE ratio | – | – | 19.42 |
| RONW (%) | (51.15) | (2.06) | 21.93 |
| NAV | 7.44 | 7.52 | 9.65 |
| EBITDA (%) | (1148.62) | (17.89) | 16.78 |
Company Promoters
- Amit Vijay Jain
- Khushboo Jain
- Mihir Deepak Vora
- ZNL Startup Accelerator LLP
Promoter Holding
| Pre Issue Share Holding | 97.47% |
| Post Issue Share Holding | 71.24% |
Lead Manager(s)
SHRENI SHARES PRIVATE LIMITED
Office No. 102, 1st Floor,
Sea Lord CHS, Plot No. 1/B, 1/A,
Survey No. A-12, Ram Nagar, Borivali (West),
Mumbai- 400 092, Maharashtra, India
Phone: +91-22-2808 8456
Email: shrenishares@gmail.com
Website: www.shreni.in
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
Office No. S6-2, 6th Floor,
Pinnacle Business Park,
Next to Ahura Centre, Mahakali
Caves Road, Andheri East,
Mumbai – 400 093
Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
SANCODE TECHNOLOGIES LIMITED
107, Prime Plaza, J.V. Patel Compound, B.M. Road,
Opp. Elphinstone Stn. Mumbai -400013, Maharashtra
Phone: 022-49622853
E-mail: investor@sancodetech.com
Website: www.sancodetech.com
Allotment Status
Sancode Technologies IPO allotment status will be available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.
Final thoughts
Sancode Technologies IPO is going to hit Dalal Street soon. applying for an IPO is purely a personal choice. study well about the company and do 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
