Canarys Automations IPO Detail 2023
Introduction
The Canarys Automations IPO will open on September 27 and close on October 3, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 47.03 crore through this public offering, consisting of 15,172,000 shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 29 to ₹ 31 per share.
Canarys Automations Limited (“the Company”)
Incorporated in 1991, Canarys is a leading IT solutions provider with over 30 years of existence in the industry. Its expertise lies in enabling digital transformation for businesses through its comprehensive range of software solutions in the space of digitalization, modernization, automation, and intelligence.
Its business operates across two verticals.
- Technology solutions: Its technology solution offerings include a multiple array of consulting solutions in digitalization, modernization, cloudification, automation, transformation, and intelligence. Technology expertise includes DevOps Consulting (Azure, GitHub, Atlassian, GitLab, etc.), Cloud Consulting (Azure, AWS, GCP), Digital Enterprise Solutions using SAP, MS Dynamics 365, RPA, Digital Applications, and Mobility Solutions.
- Water Resource Management Solution: It offers automation solutions to modernize irrigation water conservation and improve water use efficiency, turnkey flood risk assessment and mitigation, cloud-based water utilization process automation for water sharing in rivers and canals, and SCADA gate control systems.
Objects of the Issue,
- Funding of expenditure relating to solutions development for digital transformation and water resources management solutions.
- Creation of a new delivery center including infrastructure thereof and upgrading existing facilities.
- Funding working capital requirements of the Company.
- General corporate purposes.
Financial Highlights (Restated)
| Particulars | FY 2022-23 | FY 2021-22 | FY 2020-21 |
|---|---|---|---|
| Net Worth | 2,537.91 | 1,683.44 | 1,258.17 |
| Total Assets | 6,377.89 | 4,753.57 | 2,003.04 |
| Reserve & Surplus | 1,609.87 | 755.40 | 546.90 |
| Total Borrowings | 1,415.61 | 879.33 | |
| Total Revenue | 7,547.28 | 5,199.93 | 2,578.22 |
| Profit After Tax | 852.51 | 455.81 | 210.42 |
IPO details
As per the DRHP filed with SEBI, 15,172,000 shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 2. The market maker would receive 760,000 shares of the offering. While Indorient Financial Services Ltd will be the lead manager for the IPO, Link Intime India Private Ltd will be the registrar. It will be a book-built issue, so there will be a price band rather than a price point, and the actual issue price will be discovered by building the book.
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 29 to ₹ 31 per share |
| Face Value | ₹ 2 per share |
| Market Lot | 4,000 Shares |
| Issue Size | 15,172,000 shares (aggregating up to ₹ 47.03 crores) |
| Fresh Issue | 15,172,000 shares (aggregating up to ₹ 47.03 crores) |
| Listing At | NSE SME |
Market Maker detail
| Market maker | Alacrity Securities |
| Market maker portion | 760,000 shares |
Shareholding Pattern
| Shareholding pre-issue | 41,011,920 |
| Shareholding post issue | 56,183,920 |
Anchor Investors
A total of 43,20,000 shares are offered to Anchor investors. The Anchor Investor lock-in period for 50% of equity shares is November 21, 2023, and February 15, 2024, for the remaining portion.
| Anchor Investor Bid Date | September 26, 2023 |
| Anchor Portion Size | ₹ 13.39 crores (Shares offered * Upper Price) |
| Anchor lock-in period end date (50% Shares) | November 21, 2023 (30 Days) |
| Anchor lock-in period end date (remaining shares) | February 15, 2024 (90 Days) |
GMP: Canarys Automations IPO
GMP, or grey market premium, is available on this page. The IPO GMP is updated on a day-to-day basis during the running period of the IPO, due to which the GMP rates fluctuate and stabilise after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates: Canarys Automations IPO
The issue opens for subscription on September 27, 2023, and closes for subscription on October 3, 2023 (both days inclusive). The basis of allotment will be finalised on October 6, 2023, and the refunds will be initiated on October 9, 2023. In addition, the demat credits are expected to happen on October 10, 2023, and the stock will be listed on the NSE SME on October 11, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.
| Opening Date | September 27, 2023 |
| Closing Date | October 3, 2023 |
| Basis of Allotment | October 6, 2023 |
| Initiation of Refunds | October 9, 2023 |
| A credit of shares to Demat A/c | October 10, 2023 |
| Listing Date | October 11, 2023 |
Lot Size
The lot size of the Canarys Automations IPO is 4,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 4,000 shares of ₹ 124,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 4,000 | ₹ 124,000 |
| Retail (Maximum) | 1 | 4,000 | ₹ 124,000 |
| HNI (Minimum) | 2 | 8,000 | ₹ 248,000 |
Promoters Holdings
Mr. Metikurke Ramaswamy Raman Subbarao, Mr. Danavadi Krishnamurthy Arun, Mr. Raghu Chandrashekhariah, Mr. Sheshadri Yedavanahalli Srinivas, Mr. Pushparaj Shetty and Mr. Nagaraju Vineeth are the promoter of the company.
| Pre-issue Shares Holdings | 77.49% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO RHP |
| Company Contact Information | Canarys Automations Limited No. 566 & 567, 2nd Floor, 30th Main,Attimabbe Road, Banagirinagara, Banashankari 3rd Stage, Bengaluru – 560085 Phone: +91 98458 62780 Email: nagashree.hegde@ecanarys.com Website: https://ecanarys.com/ |
| IPO Registrar | Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: canarys.ipo@linkintime.co.in Website: https://linkintime.co.in/mipo/ipoallotment.html |
| IPO Lead Manager(s) | Indorient Financial Services Ltd |
FAQs
What is Canarys Automations’s IPO price?
The Canarys Automations IPO price is ₹ 29 to ₹ 31 per share.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors. One lot of the Canarys Automations IPO contains 4,000 shares of ₹ 124,000.
When will the Canarys Automations IPO allotment be available?
The finalisation of the basis of allotment for the Canarys Automations IPO will be done on October 6, 2023, and the allotted shares will be credited to your demat account by October 10, 2023. Check the Canarys Automations IPO allotment status.
When will the Canarys Automations IPO be listed on exchanges?
The Canarys Automations IPO shares listing date is October 11, 2023.
