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3C IT Solutions IPO: IT systems integration company 3C IT Solutions & Telecoms (India) Ltd is set to launch its initial public offering (IPO) on June 4 to raise up to ₹11.44 crore from the primary markets. 3C IT Solutions IPO is an SME IPO which will close on June 7.
The company offers various IT products and services under 3 segments i.e. Infrastructure solutions, Digital business solutions, and Consulting solutions.
3C IT Solutions IPO price band has been set at ₹52 per share. The IPO lot size is 2,000 shares and the minimum investment amount required by retail investors is ₹104,000.
The ₹11.44 crore worth 3C IT Solutions IPO is a combination of fresh issue of 17 lakh equity shares aggregating to ₹8.84 crore and an offer-for-sale (OFS) component of 5 lakh shares aggregating to ₹2.60 crore.
M/s. Gold Circle Venture Partners LLP is the selling shareholder in the 3C IT Solutions IPO OFS.
The company proposes to utilize the net issue proceeds to fund working capital requirements repay or prepay certain borrowings and general corporate purposes.
The IPO allotment is expected to be finalized on June 10, while the company will credit the shares to the demat accounts of eligible investors on June 11. The refunds will be initiated to unsuccessful bidders on the same day.
3C IT Solutions IPO listing date is June 12 and the equity shares of the company will be listed on BSE SME.
Kreo Capital Pvt Ltd is the book running lead manager of the 3C IT IPO, while Skyline Financial Services Pvt Ltd is the IPO registrar.
Ranjit Kulladhaja Mayengbam and Gangarani Devi Mayengbam are the promoters of 3C IT Solutions & Telecoms (India) Ltd. After the IPO, the promoter shareholding will come down to 51.66% from 72% at present.
As per the RHP, the company’s net profit for the nine months ended December 2023 was ₹50.52 lakh upon revenue of ₹23.55 crore. In FY23, the company’s net profit rose to ₹1.13 crore from ₹1.10 crore in FY22, while its revenue in FY23 decreased to ₹62.93 crore from ₹66.94 crore in FY22.
3C IT Solutions IPO GMP today, or grey market premium today, is ₹0, as per market observers. This indicates that the equity shares of 3C IT Solutions & Telecom are not trading in the grey market so far.
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