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16 Nov 2024
Esconet Technologies Limited IPO
Esconet Technologies Limited is a leading system integrator in the IT infrastructure, cloud computing, managed services and data security sectors, has grown from a hardware and software vendor to a trusted advisor, manufacturer, integrator and service provider for numerous private and public sector organizations. Esconet is well-equipped to address the server, storage, network, security, virtualization and data protection requirements of SMEs, large enterprises, and public sector customers. Esconet Technologies IPO is a book built issue of Rs 28.22 crores.
The issue is entirely a fresh issue of 33.6 lakh shares. Esconet Technologies IPO price band is set at ₹80 to ₹84 per share. The minimum lot size for an application is 1600 Shares. Corporate Capital Ventures Pvt Ltd is the book running lead manager of the Esconet Technologies IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Esconet Technologies IPO is Ss Corporate Securities.
Esconet Technologies IPO Overview
| Detail | Description |
|---|---|
| IPO Date | February 16, 2024 to February 20, 2024 |
| Listing Date | February 23, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹84 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,360,000 shares (aggregating up to ₹28.22 Cr) |
| Fresh Issue | 3,360,000 shares (aggregating up to ₹28.22 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,000,000 |
| Share holding post issue | 12,360,000 |
| Market Maker portion | 176,000 shares Ss Corporate Securities |
Esconet Technologies IPO Timeline (Tentative Schedule)
| Detail | Description |
|---|---|
| IPO Open Date | Friday, February 16, 2024 |
| IPO Close Date | Tuesday, February 20, 2024 |
| Basis of Allotment | Wednesday, February 21, 2024 |
| Initiation of Refunds | Thursday, February 22, 2024 |
| Credit of Shares to Demat | Thursday, February 22, 2024 |
| Listing Date | Friday, February 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 20, 2024 |
Esconet Technologies IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹134,400 |
| Retail (Max) | 1 | 1600 | ₹134,400 |
| HNI (Min) | 2 | 3,200 | ₹268,800 |
Esconet Technologies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 953,600 (28.38%) |
| Market Maker Shares Offered | 176,000 (5.24%) |
| QIB Shares Offered | 636,800 (18.95%) |
| NII (HNI) Shares Offered | 478,400 (14.24%) |
| Retail Shares Offered | 1,115,200 (33.19%) |
| Total Shares Offered | 3,360,000 (100%) |
Esconet Technologies IPO Promoter Holding
| Share Holding Pre Issue | 89.18% |
| Share Holding Post Issue | 64.94% |
Esconet Technologies IPO Anchor Investors Details
| Bid Date | February 15, 2024 |
| Shares Offered | 953,600 |
| Anchor Portion Size (In Cr.) | 8.01 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 22, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 21, 2024 |
Company & Financials
Founded in 2012, Esconet Technologies Limited provides high-end supercomputing solutions, and data centre facilities that include storage servers, network security, virtualization, and data protection.Throughout this journey, Esconet has garnered not only experience but also the pool of clientele base of private and public sector organisations mentioned below. This positive evolution showcases ETL's commitment to excellence, innovation, and comprehensive client support. As a trusted partner, it is delivering not just solutions, but tailored strategies that empower its clients to thrive in the rapidly evolving landscape of technology. In 2022, with a view to expand the services horizon, ETL established ZeaCloud Services Private Limited (Hereinafter refer as "ZeaCloud Services") and later on in 2023 acquired ZeaCloud Services through a Share Swap arrangement as a wholly owned subsidiary.
Esconet Technologies Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | ||||||||||||||||||||||||||||||||||||||
| Assets | 4,260.46 | 2,798.37 | ||||||||||||||||||||||||||||||||||||||
| Revenue | 7,146.71 | 9,690.84 | ||||||||||||||||||||||||||||||||||||||
| Profit After Tax | 305.47 | 304.00 | ||||||||||||||||||||||||||||||||||||||
| Net Worth | 902.97 | 554.47 | ||||||||||||||||||||||||||||||||||||||
| Reserves and Surplus | 825.19 | 477.48 | ||||||||||||||||||||||||||||||||||||||
| Total Borrowing | 1,008.95 | 1,103.89 | ||||||||||||||||||||||||||||||||||||||
| Amount in ₹ Lakhs | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 75.54% |
| ROCE | 59.11% |
| Debt/Equity | 1.99 |
| RoNW | 54.83% |
| P/BV | 1.16 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 39.63 | 4.94 |
| P/E (x) | 24.87 | 16.99 |
Objectives of Esconet Technologies IPO
The company intends to utilise the Net Fresh Issue Proceeds for the following Objectives:
- 1. The working capital requirement of the company.
- 2. Investment in Wholly Owned Subsidiary, viz. Zea Cloud Services Private Limited, to fund its capital expenditure expenses.
- 3. General Corporate Expenses.
Esconet Technologies Limited IPO Review
The company is in the business of providing IT related services and solutions. It marked growth in its top and bottom lines. From posting loss in FY21, it posted robust profits from FY23 onwards. The segment is getting crowded and competitive. Well-informed investors may park funds for the medium to long term rewards.
FAQs for Esconet Technologies IPO
-
What Is The Size Of The Esconet Technologies Limited IPO?
Esconet Technologies IPO consists of a fresh issue of shares worth INR 28.22 crores. The company seeks funds to meet working capital requirements, invest in its subsidiary- Zea Cloud Services Private Limited, and for general corporate purposes.
-
What Is The Listing Date Of The Esconet Technologies Limited IPO?
The listing date of Esconet Technologies Limited’s IPO is February 23, 2024.
-
What Is The Allotment Date Of The Esconet Technologies Limited IPO?
The allotment date of Esconet Technologies Limited IPO is February 21, 2024.
-
What Is The Price Band Of The Esconet Technologies Limited IPO?
The price band of the company is INR 80-84 per share.
Esconet Technologies IPO Subscription Status
Category
Subscription (times)
QIB
156.02
NII
868.05
Retail
553.02
Total
507.24
Anchor Investor Link of Esconet Technologies Limited IPO
-
What Is The Size Of The Esconet Technologies Limited IPO?
Esconet Technologies IPO consists of a fresh issue of shares worth INR 28.22 crores. The company seeks funds to meet working capital requirements, invest in its subsidiary- Zea Cloud Services Private Limited, and for general corporate purposes.
-
What Is The Listing Date Of The Esconet Technologies Limited IPO?
The listing date of Esconet Technologies Limited’s IPO is February 23, 2024.
-
What Is The Allotment Date Of The Esconet Technologies Limited IPO?
The allotment date of Esconet Technologies Limited IPO is February 21, 2024.
-
What Is The Price Band Of The Esconet Technologies Limited IPO?
The price band of the company is INR 80-84 per share.
Esconet Technologies IPO Subscription Status
| Category | Subscription (times) |
|---|---|
| QIB | 156.02 |
| NII | 868.05 |
| Retail | 553.02 |
| Total | 507.24 |
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