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19 Dec 2024
Enfuse Solutions IPO
Enfuse Solutions, a company offering integrated digital solutions, launched its Initial Public Offering (IPO) with the goal of raising Rs 22.44 crores through the issuance of 23.38 lakh shares. The IPO was open for subscription from March 15, 2024, to March 19, 2024, and successfully listed on the NSE SME platform on March 22, 2024.
IPO Overview
| Detail | Description |
|---|---|
| IPO Opening Date | March 15, 2024 |
| IPO Closing Date | March 19, 2024 |
| Listing Date | March 22, 2024 |
| Issue Type | Book Built Issue IPO |
| Price Band | ₹91 to ₹96 per share |
| Lot Size | 1200 Shares |
| Issue Size | 2,337,600 shares (aggregating up to ₹22.44 Cr) |
| Listing At | NSE SME |
| Market Maker | Hem Finlease |
Share Allocation Pre and Post-IPO
| Pre-Issue Share Holding | 6,510,000 shares |
| Post-Issue Share Holding | 8,847,600 shares |
IPO Reservation Details
| Anchor Investor Shares Offered | 663,600 (28.39%) |
| Market Maker Shares Offered | 120,000 (5.13%) |
| QIB Shares Offered | 444,000 (18.99%) |
| NII (HNI) Shares Offered | 333,600 (14.27%) |
| Retail Shares Offered | 776,400 (33.21%) |
Subscription Details
The Enfuse Solutions IPO received overwhelming response across all categories, culminating in a total subscription of 357.31 times by March 19, 2024. The breakdown of subscriptions across different investor categories is as follows:
Subscription Details
| QIB | 99.97 times |
| NII | 953.22 times |
| Retail | 248.42 times |
Company Background
Founded in 2017, Enfuse Solutions Limited operates in the field of digital solutions, focusing on data management and analytics, e-commerce and digital services, machine learning and artificial intelligence, and education technology solutions. The company boasts two delivery centers in Maharashtra, India, and a diverse clientele across the US, Ireland, the Netherlands, and Canada.
Financials
For the period ending December 31, 2023, Enfuse Solutions demonstrated significant growth, with its revenue and profit after tax (PAT) showing notable increases. The company's assets, revenue, and PAT details up to December 31, 2023, indicate a healthy financial trajectory.
Objects of the Issue
The funds raised through the IPO are intended for the following purposes:
- 1. Repayment of certain borrowings availed by the company.
- 2. Meeting working capital requirements.
- 3. General corporate purposes.
IPO Review
Despite operating in a competitive sector, Enfuse Solutions has shown growth in its financial performance. The IPO pricing, based on the company's annualized earnings for FY24, appears to be fully priced. The financial data for the last 21 months suggests an effort to justify the asking price. Investors looking for opportunities in the digital solutions space may consider this IPO for medium to long-term gains.
FAQs for Enfuse Solutions IPO
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What is an IPO?
An Initial Public Offering (IPO) is the process by which a privately held company offers shares to the public for the first time, transitioning into a publicly traded company. This allows the company to raise capital from public investors.
-
What is Enfuse Solutions?
Enfuse Solutions is a company that specializes in providing technology and IT services. These services may include software development, IT consultancy, digital transformation, and other technology-related services to businesses across various sectors.
-
When is the Enfuse Solutions IPO scheduled?
The exact dates for the Enfuse Solutions IPO, including the subscription period, would be announced when the company officially declares its intention to go public. The subscription period typically spans a few days, allowing investors to apply for shares.
-
What is the price band for the Enfuse Solutions IPO?
The price band for the IPO will be determined based on a valuation of the company's financial health, market conditions, and growth prospects. This range gives potential investors an idea of the price at which they can purchase the company's shares during the IPO.
-
How many shares are being offered in the IPO?
The total number of shares offered by Enfuse Solutions in its IPO will be disclosed in the company's prospectus. This document provides investors with detailed information about the IPO, including the number of shares available and the price range.
-
What is the lot size for the IPO?
The lot size in an IPO refers to the minimum number of shares an investor can apply for. The company, in consultation with its financial advisors, determines the lot size based on the price band and the total offering size.
-
What are the objectives of the IPO?
Companies pursue IPOs for various reasons, such as raising capital to fund growth initiatives, reducing debt, or enabling early investors to realize their investments. Enfuse Solutions' specific objectives for its IPO will be detailed in its prospectus.
-
Who are the book running lead managers and the registrar for the IPO?
The book running lead managers are responsible for managing the IPO process, including marketing, compliance with regulatory requirements, and determining the price band. The registrar manages the application and allotment process. The names of these entities will be included in the IPO announcement.
-
How can I apply for the Enfuse Solutions IPO?
Investors can apply for the IPO through their brokerage accounts, utilizing the ASBA (Application Supported by Blocked Amount) process. This method ensures that the application amount is blocked in the investor's bank account until shares are allotted.
-
What is the expected listing date for the IPO?
The expected listing date, the day the company's shares will begin trading on a stock exchange, will be announced after the subscription period ends and the final issue price is determined.
-
What is an IPO?
An Initial Public Offering (IPO) is the process by which a privately held company offers shares to the public for the first time, transitioning into a publicly traded company. This allows the company to raise capital from public investors.
-
What is Enfuse Solutions?
Enfuse Solutions is a company that specializes in providing technology and IT services. These services may include software development, IT consultancy, digital transformation, and other technology-related services to businesses across various sectors.
-
When is the Enfuse Solutions IPO scheduled?
The exact dates for the Enfuse Solutions IPO, including the subscription period, would be announced when the company officially declares its intention to go public. The subscription period typically spans a few days, allowing investors to apply for shares.
-
What is the price band for the Enfuse Solutions IPO?
The price band for the IPO will be determined based on a valuation of the company's financial health, market conditions, and growth prospects. This range gives potential investors an idea of the price at which they can purchase the company's shares during the IPO.
-
How many shares are being offered in the IPO?
The total number of shares offered by Enfuse Solutions in its IPO will be disclosed in the company's prospectus. This document provides investors with detailed information about the IPO, including the number of shares available and the price range.
-
What is the lot size for the IPO?
The lot size in an IPO refers to the minimum number of shares an investor can apply for. The company, in consultation with its financial advisors, determines the lot size based on the price band and the total offering size.
-
What are the objectives of the IPO?
Companies pursue IPOs for various reasons, such as raising capital to fund growth initiatives, reducing debt, or enabling early investors to realize their investments. Enfuse Solutions' specific objectives for its IPO will be detailed in its prospectus.
-
Who are the book running lead managers and the registrar for the IPO?
The book running lead managers are responsible for managing the IPO process, including marketing, compliance with regulatory requirements, and determining the price band. The registrar manages the application and allotment process. The names of these entities will be included in the IPO announcement.
-
How can I apply for the Enfuse Solutions IPO?
Investors can apply for the IPO through their brokerage accounts, utilizing the ASBA (Application Supported by Blocked Amount) process. This method ensures that the application amount is blocked in the investor's bank account until shares are allotted.
-
What is the expected listing date for the IPO?
The expected listing date, the day the company's shares will begin trading on a stock exchange, will be announced after the subscription period ends and the final issue price is determined.
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