Systango Technologies IPO will open for subscription from 02 March 2023. the company aims for an issue size of ₹34.82 Cr through this IPO.
About Company
Incorporated in 2004, Systango Technologies is engaged in the business of providing software solutions. The offerings of the company enable companies to design, implement and manage their own customized digital platforms. The platforms designed by Systango include Web2, Web3, and mobile applications with a strong emphasis on data and analytics. The company has a range of software solutions that include- Website development, Mobile app development (both for iOS and Android applications), Web3 development, DeFi (Decentralized finance), Data Engineering, Implementation of blockchain, Cloud computing, and Digital Marketing.
The company offers its services across various sectors like Hospitality, Property Tech, Financial Services (FinTech), Fantasy Sports, and many others. Systango Technologies has evolved as a professional and technical service provider over the years of its operations. Its end-to-end technology solutions help entities and organizations to effectively implement innovations in their system and keep up with the new-age world.
Basic details about the company
| Full name | Systango Technologies Limited |
| Sector | Information Technology |
| Industry | IT – Software |
| Company Website | https://www.systango.com/ |
The objective of the Issue
- Strategic Investment and Acquisitions;
- Investment in Subsidiaries;
- To Meet Working Capital Requirements;
- General Corporate Purposes;
- Issue Expenses.
IPO Timetable
| IPO Opening date | 02 March 2023 |
| IPO Closing | 06 March 2023 |
| Basis of Allotment | 10 March 2023 |
| Initiation Refund | 13 March 2023 |
| Credit to Demat Account | 14 March 2023 |
| Listing Date | 15 March 2023 |
IPO details
| Issue type | Book Built Issue IPO |
| IPO issue size | ₹34.82 Cr – 3,868,800 shares |
| Fresh Issue | ₹34.82 Cr – 3,868,800 shares |
| Offer for sale | Nil |
| Face value | ₹10 per share |
| Price Band | ₹85 to ₹90 per share |
| Lot size | 1600 Shares |
| Retail Allocation | 35% of the Net Issue |
| Listing Exchange | NSE SME |
IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹144,000 |
| Retail (Max) | 1 | 1600 | ₹144,000 |
| HNI (Min) | 2 | 3,200 | ₹288,000 |
Reservation Details
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Financial Performance
| FY 2020 | FY 2021 | FY 2022 | H1 FY 2023 | |
| Revenue | 1,428.5 | 2,299.0 | 3,268.8 | 2,239.4 |
| Expenses | 1,162.7 | 1,710.1 | 2,586.5 | 1,622.5 |
| Net income | 251.9 | 567.9 | 675.8 | 572.3 |
Valuations & Margins
| FY 2020 | FY 2021 | FY 2022 | |
| EPS | 2.33 | 5.26 | 6.27 |
| PE ratio | – | – | 14.35 |
| RONW (%) | 52.83 | 54.35 | 39.30 |
| NAV | 4.41 | 9.68 | 15.95 |
| ROCE (%) | 61.38 | 64.88 | 46.90 |
| EBITDA (%) | 21.29 | 27.27 | 22.74 |
| Debt/Equity | 0.56 | 0.46 | 0.32 |
Company Promoters
- Vinita Rathi
- Nilesh Rathi
Promoter Holding
| Pre Issue Share Holding | 97.73% |
| Post Issue Share Holding | – |
Lead Manager(s)
- Hem Securities Limited
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
Telephone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com
Contact Details
SYSTANGO TECHNOLOGIES LIMITED
Third Floor (LHS), STP-I Crystal IT Park,
Ring Road, Indore 452010, Madhya Pradesh, India
Phone: +91 0731 2971030
E-mail: cs@systango.com
Website: www.systango.com
Allotment Status
Systango Technologies IPO allotment status will be available on Bigshare Services’ website. Click on Bigshare Services weblink to get allotment status.
Final thoughts
Systango 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
