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Systango Technologies IPO is a book built issue of Rs 34.82 crores. The issue is entirely a fresh issue of 38.69 lakh shares.
Systango Technologies IPO bidding started from March 2, 2023 and ended on March 6, 2023. The allotment for Systango Technologies IPO was finalized on Friday, March 10, 2023. The shares got listed on NSE SME on March 15, 2023.
Systango Technologies IPO price band is set at ₹85 to ₹90 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹144,000. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹288,000.
Hem Securities Limited is the book running lead manager of the Systango Technologies IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Systango Technologies IPO is Hem Finlease.
Refer to Systango Technologies IPO RHP for detailed information.
| IPO Date | March 2, 2023 to March 6, 2023 |
| Listing Date | March 15, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹85 to ₹90 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,868,800 shares (aggregating up to ₹34.82 Cr) |
| Fresh Issue | 3,868,800 shares (aggregating up to ₹34.82 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 196,800 shares Hem Finlease |
Systango Technologies IPO offers 3,868,800 shares. 1,833,600 (47.39%) to QIB, 552,000 (14.27%) to NII, 1,286,400 (33.25%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 196,800 (5.09%) |
| QIB Shares Offered | 1,833,600 (47.39%) |
| NII (HNI) Shares Offered | 552,000 (14.27%) |
| Retail Shares Offered | 1,286,400 (33.25%) |
| Total Shares Offered | 3,868,800 (100%) |
Systango Technologies IPO opens on March 2, 2023, and closes on March 6, 2023.
| IPO Open Date | Thursday, March 2, 2023 |
| IPO Close Date | Monday, March 6, 2023 |
| Basis of Allotment | Friday, March 10, 2023 |
| Initiation of Refunds | Monday, March 13, 2023 |
| Credit of Shares to Demat | Tuesday, March 14, 2023 |
| Listing Date | Wednesday, March 15, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 6, 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 | ₹144,000 |
| Retail (Max) | 1 | 1600 | ₹144,000 |
| HNI (Min) | 2 | 3,200 | ₹288,000 |
| Lot Size Calculator | |||
Vinita Rathi and Nilesh Rathi are the promoters of the company.
| Share Holding Pre Issue | 97.73% |
| Share Holding Post Issue | 71.96% |
Incorporated in 2004, Systango Technologies Limited 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.
These platforms designed by Systango include Web2, Web3, and mobile applications with a strong emphasis on data and analytics.
The range of software solutions provided by the company is wide and includes- 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.
Systango Technologies offers its services across various sectors like Hospitality, Property Tech, Financial Services (FinTech), Fantasy Sports, and many others.
The company has evolved as a professional and technical service provider over the years of its operations. Their end-to-end technology solutions and support help entities and organization effectively implement innovations in their system and keep up with the new-age world.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
|---|---|---|---|---|---|
| 31-Mar-20 | 744.32 | 1,455.31 | 251.88 | 476.81 | 421.81 |
| 31-Mar-21 | 1,537.57 | 2,388.09 | 568.26 | 1,045.50 | 775.50 |
| 31-Mar-22 | 2,288.97 | 3,392.10 | 676.99 | 1,722.49 | 1,452.49 |
| 30-Sep-22 | 2,732.41 | 2,301.30 | 572.30 | 2,296.98 | 2,026.98 |
| Amount in ₹ Lakhs | |||||
The market capitalization of Systango Technologies IPO is Rs 132.02 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 15.13 |
The company intends to utilize the proceeds of the Issue to meet the following objectives:-
[Dilip Davda] The company is in IT-related solutions and service-providing business. It has posted consistent growth in its top and bottom lines for the reported periods. Based on the financial data, the issue appears fully priced. Well-informed investors may park funds for long-term rewards. Read detail review...
The Systango Technologies IPO is subscribed 64.99 times on March 6, 2023 7:00:00 PM. The public issue subscribed 66.59 times in the retail category, 14.10 times in the QIB category, and 230.36 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 14.10 |
| NII | 230.36 |
| Retail | 66.59 |
| Total | 64.99 |
| Listing Date | March 15, 2023 |
| BSE Script Code | |
| NSE Symbol | SYSTANGO |
| ISIN | INE0O7R01011 |
| Final Issue Price | ₹90 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹90.00 |
| ₹98.00 |
| ₹95.00 |
| ₹102.90 |
| ₹102.90 |
Systango Technologies Limited
Third Floor (LHS),
STP-I Crystal IT Park, Ring Road,
Indore - 452010
Phone: +91 0731 2971030
Email: cs@systango.com
Website: http://www.systango.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Systango Technologies IPO is a SME IPO of 3,868,800 equity shares of the face value of ₹10 aggregating up to ₹34.82 Crores. The issue is priced at ₹85 to ₹90 per share. The minimum order quantity is 1600 Shares.
The IPO opens on March 2, 2023, and closes on March 6, 2023.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Systango Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Systango Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Systango Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Systango Technologies IPO opens on March 2, 2023 and closes on March 6, 2023.
Systango Technologies IPO lot size is 1600 Shares, and the minimum amount required is ₹144,000.
You can apply in Systango Technologies 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 Systango Technologies IPO will be done on Friday, March 10, 2023, and the allotted shares will be credited to your demat account by Tuesday, March 14, 2023. Check the Systango Technologies IPO allotment status.
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