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Micropro Software Solutions IPO is a fixed price issue of Rs 30.70 crores. The issue is entirely a fresh issue of 37.9 lakh shares.
Micropro Software Solutions IPO bidding started from November 3, 2023 and ended on November 7, 2023. The allotment for Micropro Software Solutions IPO was finalized on Thursday, November 9, 2023. The shares got listed on NSE SME on November 10, 2023.
Micropro Software Solutions IPO price is ₹81 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹129,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹259,200.
Swaraj shares and securities private limited is the book running lead manager of the Micropro Software Solutions IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Micropro Software Solutions IPO is Nikunj Stock Brokers.
Refer to Micropro Software Solutions IPO RHP for detailed information.
| IPO Date | November 3, 2023 to November 7, 2023 |
| Listing Date | November 10, 2023 |
| Face Value | ₹10 per share |
| Price | ₹81 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,790,400 shares (aggregating up to ₹30.70 Cr) |
| Fresh Issue | 3,790,400 shares (aggregating up to ₹30.70 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,509,000 |
| Share holding post issue | 14,299,400 |
| Market Maker portion | 190,400 shares Nikunj Stock Brokers |
Micropro Software Solutions IPO offers 3,790,400 shares. 1,800,000 (47.49%) to NII, 1,800,000 (47.49%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 190,400 (5.02%) |
| Other Shares Offered | 1,800,000 (47.49%) |
| Retail Shares Offered | 1,800,000 (47.49%) |
| Total Shares Offered | 3,790,400 (100%) |
Micropro Software Solutions IPO opens on November 3, 2023, and closes on November 7, 2023.
| IPO Open Date | Friday, November 3, 2023 |
| IPO Close Date | Tuesday, November 7, 2023 |
| Basis of Allotment | Thursday, November 9, 2023 |
| Initiation of Refunds | Friday, November 10, 2023 |
| Credit of Shares to Demat | Friday, November 10, 2023 |
| Listing Date | Friday, November 10, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 7, 2023 |
Investors can bid for a minimum of 1600 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹129,600 |
| Retail (Max) | 1 | 1600 | ₹129,600 |
| HNI (Min) | 2 | 3,200 | ₹259,200 |
| Lot Size Calculator | |||
The promoters of the company are Mr Sanjay Yadavrao Mokashi, Mr Hitesh Dhirajlal Parikh, Mr Prashant Renukadas Rajurkar, Mrs Meenakshi Sanjay Mokashi, Mrs Shefali Hitesh Parikh, and Mrs Swati Prashant Rajurkar.
| Share Holding Pre Issue | 63.40% |
| Share Holding Post Issue | 46.59% |
Incorporated in 1988, Micropro is an IT service company engaged in the business of Software Development, Data Processing, and Software Training. The company's tech team comprises more than 150 professionals. The company serves over 4000 customers catering to countries like India, USA, UAE and Africa. The company also provides software solutions for the government sector, PSU's and corporate clients. Micropro is an ISO 90001:2015 company which designs software solutions across various industry verticals.
The company provides following services such as:-
Micropro Software Solutions Limited's revenue increased by 26.32% and profit after tax (PAT) rose by 121.69% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 May 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,411.30 | 2,559.57 | 2,048.58 | 1,547.57 |
| Revenue | 275.95 | 2,217.20 | 1,755.17 | 1,392.48 |
| Profit After Tax | 47.65 | 592.23 | 267.14 | 129.51 |
| Net Worth | 1,648.21 | 1,055.98 | 788.84 | |
| Reserves and Surplus | 1,670.86 | 1,623.21 | 1,030.98 | 763.84 |
| Total Borrowing | 338.03 | 397.97 | 592.05 | 437.81 |
| Amount in ₹ Lakhs | ||||
The market capitalization of Micropro Software Solutions IPO is Rs 116.48 Cr.
| KPI | Values |
|---|---|
| ROE | 44% |
| ROCE | 41% |
| Debt/Equity | 0.13 |
| RoNW | 35.93% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 5.78 | |
| P/E (x) | 0.34 | 40.7 |
The Company proposes to utilize the funds being raised through this Issue towards the below-mentioned objects and gain benefits of listing on the Stock Exchange.
1. Working capital requirements;
2. Funding capital expenditure requirements;
3. General Corporate purposes
[Dilip Davda] The company is engaged in software developments and IT solution services. It has posted growth in its top lines for the reported periods till FY23. The sudden boost in its bottom line for FY23 appears to be a window dressing to pave the way for fancy valuations. Based on FY24 annualized earnings, the issue is aggressively priced. There is no harm in skipping this pricey and dicey bet. Read detail review...
The Micropro Software Solutions IPO is subscribed 36.88 times on November 7, 2023 7:30:00 PM. The public issue subscribed 49.08 times in the retail category, times in the QIB category, and 22.60 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 22.60 |
| Retail | 49.08 |
| Total | 36.88 |
Total Application : 55,218 (49.08 times)
| Listing Date | November 10, 2023 |
| BSE Script Code | |
| NSE Symbol | MICROPRO |
| ISIN | INE0PZK01014 |
| Final Issue Price | ₹81 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹81.00 |
| ₹80.00 |
| ₹76.00 |
| ₹80.80 |
| ₹76.00 |
Micropro Software Solutions Limited
Plot No. 28, 702, Wing A
7th Floor, IT Park,
Gayatri Nagar, Nagpur-440022,
Phone: +91-9373693405
Email: compliance@microproindia.com
Website: http://www.microproindia.com/
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
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Micropro Software Solutions IPO is a SME IPO of 3,790,400 equity shares of the face value of ₹10 aggregating up to ₹30.70 Crores. The issue is priced at ₹81 per share. The minimum order quantity is 1600 Shares.
The IPO opens on November 3, 2023, and closes on November 7, 2023.
Purva Sharegistry India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Micropro Software Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Micropro Software Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Micropro Software Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Micropro Software Solutions IPO opens on November 3, 2023 and closes on November 7, 2023.
Micropro Software Solutions IPO lot size is 1600 Shares, and the minimum amount required is ₹129,600.
You can apply in Micropro Software Solutions IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Micropro Software Solutions IPO will be done on Thursday, November 9, 2023, and the allotted shares will be credited to your demat account by Friday, November 10, 2023. Check the Micropro Software Solutions IPO allotment status.
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I have alloted micropro soft .
Shall i hold or wait for some time. At what price to exit