Synoptics Technologies IPO will open for subscription from 30 June 2023. the company aims for an issue size of ₹54.03 Cr through this IPO.
Company Overview
| Full name | Synoptics Technologies Limited |
| Sector | Trading |
| Industry | Trading |
| Company Website | https://synoptics.co.in/ |
About Company
Incorporated in 2008, Synoptics Technologies is an IT Services company offering solutions in the areas of IT Infrastructure like connectivity to the Branches, Supply, implementation, and support of the network equipment needed to run the IT setup like routers, switches, etc. Synoptics helps enterprises, small businesses, and the Government in their Digital journey with various use cases of specific industry verticals with the technology-led and innovation-driven approach. It is currently operating across India and with a team of 584 employees. The company has the ability to provide its B2B (Business to Business) customers with a blend of optimal functionality, value for money, commitment, and flexibility.
The company’s B2B customers include government entities, public sector undertakings (‘PSUs’), and private enterprises. Some of its esteemed customers include TATA Communications Limited, BOB Financial Services, Blue Dart Express Limited, Lifestyle International Private Limited, Shoppers Stop Limited, Hennes & Mauritz Retail Private Limited (H&M), Fedbank Financial Services Limited, GIC Housing Finance Ltd, Motilal Oswal Financial Services Limited, Government of Gujarat, etc.
Synoptics Technologies has recently signed an agreement with BSNL to become their authorized Private LTE / Private 5G service partner nationwide this would establish ourselves into upcoming private LTE / Private 5G opportunities. The company is headquartered in Mumbai and has regional offices in 17 locations throughout India.
The Objective of the Issue
- Repayment of certain Borrowings,
- Funding additional Working capital requirements,
- Investment in Strategic Acquisition / Joint Venture, and
- General Corporate Purposes.
IPO Timetable
| IPO Opening date | 30 June 2023 |
| IPO Closing | 05 July 2023 |
| Basis of Allotment | 10 July 2023 |
| Initiation Refund | 11 July 2023 |
| Credit to Demat Account | 12 July 2023 |
| Listing Date | 13 July 2023 |
IPO details
| Issue type | Fixed Price Issue IPO |
| IPO issue size | ₹54.03 Cr – 2,280,000 shares |
| Fresh Issue | ₹35.08 Cr – 1,480,000 shares |
| Offer for sale | ₹18.96 Cr – 800,000 shares |
| Face value | ₹10 per share |
| Price Band | ₹237 per share |
| Lot size | 600 Shares |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹142,200 |
| Retail (Max) | 1 | 600 | ₹142,200 |
| HNI (Min) | 2 | 1,200 | ₹284,400 |
Reservation Details
| Market makers Shares Offered | 114,000 (5.00%) |
| Other Shares Offered | 1,083,000 (47.50%) |
| Retail Shares Offered | 1,083,000 (47.50%) |
| Total Shares Offered | 2,280,000 (100%) |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | 9M FY 2023 | |
| Revenue | 22.08 | 34.76 | 50.92 | 34.65 |
| Expenses | 19.91 | 31.57 | 45.11 | 28.21 |
| Net income | 1.82 | 2.36 | 4.32 | 5.25 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 2.60 | 3.37 | 6.18 |
| PE ratio | – | – | 38.35 |
| RONW (%) | 15.07 | 16.34 | 23.04 |
| NAV | 17.26 | 20.64 | 26.81 |
| ROCE (%) | 15.48 | 18.53 | 22.91 |
| EBITDA (%) | 28.74 | 22.59 | 21.52 |
| Debt/Equity | 1.07 | 0.83 | 0.75 |
Company Promoters
- Mr. Jagmohan Manilal Shah
- Mr. Jatin Jagmohan Shah
- Mrs. Janvi Jatin Shah.
Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 73.11% |
Lead Manager(s)
FIRST OVERSEAS CAPITAL LIMITED
1-2 Bhupen Chambers, Dalal Street, Fountain,
Mumbai – 400 001, Maharashtra, India
Phone: +91 22 4050 9999
Email: mb@focl.in
Website: www.focl.in
IPO Registrar
BIGSHARE SERVICES PRIVATE LIMITED
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
SYNOPTICS TECHNOLOGIES LIMITED
301, A-Wing, 3rd Floor, Interface 16,
Mindspace, Malad (West), Mumbai 400064, Maharashtra
Phone: +91 22 4505 0000
E-mail: cs@synoptics.co.in
Website: www.synoptics.co.in
Allotment Status
Synoptics Technologies IPO allotment status will be available on Bigshare Services’ website. Click on this link to get allotment status.
Final thoughts
Synoptics 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
