14-Feb-2024
2 mins read
Esconet Technologies Limited IPO 2024 is open for subscription from Friday, February 16, 2024 and will close on Tuesday, February 20, 2024. The price band is decided at Rs 80 to Rs 84 per share. The minimum lot size of this application for the retail category is 1600 shares. Whereas, the minimum lot size for HNI category is 2 lots consisting of 3200 shares. The minimum amount of investment required for retail category investors is Rs 1,34,400 (84 x 1600 shares). However for HNI category the minimum investment amount is required Rs 2,72,400 (847 x 1600 shares).Esconet Technologies Limited IPO 2024 is a book built issue of Rs 28.22 crores. The issue is entirely a fresh issue of 33.6 lakh equity shares. The allotment for this IPO is expected to be finalized on Wednesday, February 21, 2024. Esconet Technologies Limited IPO will list on NSE SME and listing date fixed on Friday, February 23, 2024. The book running lead manager of Esconet Technologies Limited IPO is Corporate Capital Ventures Private Limited. The registrar for this IPO is SKyline Financial Services Private Limited. The market maker for the Esconet Technologies Limited IPO is Ss Corporate securities.
About Esconet Technologies Limited
Esconet Technologies Limited was founded in 2012, it is engaged in the business of providing high end super computing solutions and data center facilities that include storage servers, network security, visualization and data protection. Company provides comprehensive solutions to cater the needs of SMEs, large enterprises and public sector clients. Furthermore, Esconet extends its capabilities into the cloud services domain through its wholly owned subsidiary ZeaCloud services. Company offers Servers and Graphics workstations, Comprehensive data storage solutions, Visualization software, Backup and Disaster Recovery Solutions, Data Center and Access Networks, Advanced Software defined networks etc. Esconet clients include Ministry of Defense, National Informatics Centre-Meity, National Informatics Center services Inc, Bharat Electronics Limited, ONGC etc. As per the record, in November 2023, Company had 47 employees.
Objectives of this IPO
The capital raised from the IPO will be utilized for meeting the working capital requirements of the company. Moreover, the proceeds will be invested in the wholly owned subsidiary Zeacloud Services Private Limited to fund the capital expenditure. Other than this, General corporate purposes will also be fulfilled.
Financial Performance of Esconet Technologies Limited
Company’s net profit increased from Rs 304 lakh to Rs 305.47 lakh for the period between March 31, 2023 to September 30, 2023. However, for the same period revenue decreased from Rs 9,690.84 to Rs 7,146.71 lakh.
| Period Ended | 30-Sep-23 | 31-Mar-23 |
| Assets | 4,260.46 | 2,798.37 |
| Revenue | 7,146.71 | 9,690.84 |
| Profit After Tax | 305.47 | 304 |
| Net Worth | 902.97 | 554.47 |
| Reserves and Surplus | 825.19 | 477.48 |
| Total Borrowing | 1,008.95 | 1,103.89 |
| Amt in Rs. Lakhs |
Other Important Details of Esconet Technologies Limited IPO
| IPO Date | February 16, 2024 to February 20, 2024 |
| Listing Date | 23-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 80 to Rs 84 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,360,000 shares (amounting to Rs 28.22 Crore) |
| Fresh Issue | 3,360,000 shares (amounting to Rs 28.22 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 9,000,000 |
| Shareholding post issue | 12,360,000 |
| Market Maker portion | 176,000 shares |
| Ss Corporate Securities |
Lot Size of Esconet Technologies Limited IPO
| IPO Date | February 16, 2024 to February 20, 2024 |
| Listing Date | 23-Feb-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 80 to Rs 84 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,360,000 shares (amounting to Rs 28.22 Crore) |
| Fresh Issue | 3,360,000 shares (amounting to Rs 28.22 Crore) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 9,000,000 |
| Shareholding post issue | 12,360,000 |
| Market Maker portion | 176,000 shares |
| Ss Corporate Securities |
Lot Size of Esconet Technologies Limited IPO
| Application | Lots | Shares | Amount |
| Retail (Min) | 1 | 1600 | Rs 134,400 |
| Retail (Max) | 1 | 1600 | Rs 134,400 |
| HNI (Min) | 2 | 3,200 | Rs 268,800 |
IPO Reservation of Esconet Technologies Limited
| Investor Category | Shares Offered |
| QIB Shares Offered | Not more than 50% of the Net Issue |
| Retail Shares Offered | Not less than 35% of the Net Issue |
| NII (HNI) Shares Offered | Not less than 15% of the Net Issue |
Promoters of Esconet Technologies Limited and Their Holdings
The Promoters of the company are Mr. Santosh Kumar Agrawal and Mr. Sunil Kumar Agrawal.
| Shareholding Pre Issue | 89.18% |
| Shareholding Post Issue | 64.94% |
Time-Table of Esconet Technologies Limited IPO 2024
| 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 |
Key Performance Indicator of Esconet Technologies Limited IPO 2024
| KPI | Values |
| ROE | 75.54% |
| ROCE | 59.11% |
| Debt/Equity | 1.99 |
| RoNW | 54.83% |
| P/BV | 1.16 |
| Post IPO | Post IPO | |
| EPS (Rs) | 39.63 | 4.94 |
| P/E (x) | 24.87 | 16.99 |
Lead Manager(s) of Esconet Technologies Limited IPO 2024
The lead manager for Esconet Technologies Limited IPO is Corporate Capital Ventures Limited.
How to Apply for Esconet Technologies Limited IPO 2024
Wait for the public issue to open for subscription, then visit Bigul website to apply for the Esconet Technologies Limited IPO with Bigul.
How to Check Allotment Status of Esconet Technologies Limited IPO 2024
The registrar for Esconet Technologies Limited IPO is Skyline Financial Services Private Limited. To check your allotment status, please click here.
FAQs
- What is Esconet Technologies Limited IPO 2024?
Esconet Technologies Limited IPO 2024 is a book built issue of Rs 28.22 crores. The issue is entirely a fresh issue of 33.6 lakh equity shares. The price band is decided at Rs 80 to Rs 84 per share. The minimum lot size of this application for the retail category is 1600 shares.
- Who are the lead managers for the Esconet Technologies Limited IPO 2024?
Corporate Capital Ventures Limited are appointed as the lead managers for the IPO.
- What is the role of Skyline Financial Services Private Limited in this IPO?
Skyline Financial Services Private Limited is the registrar for Esconet Technologies Limited handling the IPO’s administrative aspects.
- How can I apply for the Esconet Technologies Limited IPO 2024?
The public subscription of this IPO will open on February 16, 2024. Visit Bigul website for the application process.
- How will the net proceeds from the IPO be utilized?
The capital raised from the IPO will be utilized for meeting the working capital requirements of the company. Moreover, the proceeds will be invested in the wholly owned subsidiary Zeacloud Services Private Limited to fund the capital expenditure. Other than this, General corporate purposes will also be fulfilled.
- How can I check the allotment status of the IPO?
You can check the allotment status of the Esconet Technologies Limited IPO 2024 by visiting here.
- What is the financial performance of Esconet Technologies Limited?
Company’s net profit increased from Rs 304 lakh to Rs 305.47 lakh for the period between March 31, 2023 to September 30, 2023. However, for the same period revenue decreased from Rs 9,690.84 to Rs 7,146.71 lakh.