Systango Technologies Limited IPO (Systango Technologies IPO) Detail

Mar 2, 2023 - Mar 6, 2023

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.

Objects of the Issue

The company intends to utilize the proceeds of the Issue to meet the following objectives:-

Strategic Investment and Acquisitions;
Investment in Subsidiaries;
To Meet Working Capital Requirements;
General Corporate Purposes;
Issue Expenses.

Systango Technologies IPO Details

IPO Date	Mar 2, 2023 to Mar 6, 2023
Listing Date	Mar 15, 2023
Face Value	₹10 per share
Price	₹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

Systango Technologies IPO Reservation

QIB Shares Offered	1,833,600 (Not more than 50% of the Net Issue)
NII (HNI) Shares Offered	552,000 (Not less than 15% of the Net Issue)
Retail Shares Offered	1,286,400 (Not less than 35% of the Net Issue)
Market Maker portion	196,800 shares (HEM FINLEASE PRIVATE LIMITED)
Total Shares Offered	3,672,000

KPIs

KPI	Values
P/E (x)	15.13
Market Cap (₹ Cr.)	132.02

Systango Technologies IPO Tentative Timetable

Systango Technologies IPO opens on Mar 2, 2023, and closes on Mar 6, 2023.

Event	Tentative Date
Opening Date	Mar 2, 2023
Closing Date	Mar 6, 2023
Basis of Allotment	Mar 10, 2023
Initiation of Refunds	Mar 13, 2023
Credit of Shares to Demat	Mar 14, 2023
Listing Date	Mar 15, 2023
UPI Mandate Confirmation Cut-Off Time	5.00 PM on the issue closing day

Systango Technologies IPO Lot Size

The Systango Technologies IPO lot size is 1600 shares.

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

Systango Technologies IPO Promoter Holding

Vinita Rathi and Nilesh Rathi are the promoters of the company.

Pre Issue Share Holding	97.73%
Post Issue Share Holding	71.96%

Company Financials

Systango Technologies Limited Financial Information (Restated Consolidated)
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

Systango Technologies IPO Review (May apply)

[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...

Systango Technologies IPO Subscription Status (Bidding Detail)

The Systango Technologies IPO is subscribed 64.99 times on Mar 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

Systango Technologies IPO Prospectus

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Systango Technologies IPO Rating

3.0

Rating:

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Systango Technologies IPO Listing Details

Listing Date	Mar 15, 2023
BSE Script Code
NSE Symbol	SYSTANGO
ISIN	INE0O7R01011
IPO Price	₹90 per share

Listing Day Trading Information

Price Details
IPO Price
Open
Low
High
Last Trade

NSE SME
₹90.00
₹98.00
₹95.00
₹102.90
₹102.90

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Company Contact Information

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/

Systango Technologies IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/

Systango Technologies IPO Analysis

Systango Technologies IPO Recommendation Summary

Review By	Subscribe	Neutral	Avoid
Brokers	1	0	0
Members	5	1	1

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Systango Technologies IPO Lead Manager(s)

Hem Securities Limited (Past IPO Performance)

Lead Manager Reports

SME IPO Enquiry

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Systango Technologies IPO FAQs

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 Mar 2, 2023, and closes on Mar 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 the Zerodha website and login to Console.
Go to Portfolio and click the IPOs link.
Go to the 'Systango Technologies IPO' row and click the 'Bid' button.
Enter your UPI ID, Quantity, and Price.
‘Submit’ IPO application form.
Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The Systango Technologies IPO opens on Mar 2, 2023 and closes on Mar 6, 2023.

Systango Technologies IPO lot size is 1600 Shares and the minimum order quantity is .

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 Mar 10, 2023, and the allotted shares will be credited to your demat account by Mar 14, 2023. Check the Systango Technologies IPO allotment status.

The Systango Technologies IPO listing date is on Mar 15, 2023.

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