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Canarys Automations IPO Detail 2023

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,

  1. Funding of expenditure relating to solutions development for digital transformation and water resources management solutions.
  2. Creation of a new delivery center including infrastructure thereof and upgrading existing facilities.
  3. Funding working capital requirements of the Company.
  4. General corporate purposes.

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth2,537.911,683.441,258.17
Total Assets6,377.894,753.572,003.04
Reserve & Surplus1,609.87755.40546.90
Total Borrowings1,415.61879.33
Total Revenue7,547.285,199.932,578.22
Profit After Tax852.51455.81210.42
(Amount in ₹ Lakhs)

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 TypeBook Built Issue IPO
IPO Price₹ 29 to ₹ 31 per share
Face Value₹ 2 per share
Market Lot4,000 Shares
Issue Size15,172,000 shares (aggregating up to ₹ 47.03 crores)
Fresh Issue15,172,000 shares (aggregating up to ₹ 47.03 crores)
Listing AtNSE SME

Market Maker detail

Market makerAlacrity Securities
Market maker portion760,000 shares

Shareholding Pattern

Shareholding pre-issue41,011,920
Shareholding post issue56,183,920

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 DateSeptember 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 DateSeptember 27, 2023
Closing DateOctober 3, 2023
Basis of AllotmentOctober 6, 2023
Initiation of RefundsOctober 9, 2023
A credit of shares to Demat A/cOctober 10, 2023
Listing DateOctober 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)14,000₹ 124,000
Retail (Maximum)14,000₹ 124,000
HNI (Minimum)28,000₹ 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 Holdings77.49%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO RHP
Company Contact InformationCanarys Automations Limited
No. 566 & 567, 2nd Floor, 30th Main,Attimabbe Road, Banagirinagara,
Banashankari 3rd Stage, Bengaluru – 560085
Phone: +91 98458 62780
Email: [email protected]
Website: https://ecanarys.com/
IPO RegistrarLink Intime India Private Ltd
Phone: +91-22-4918 6270
Email: [email protected]
Website: https://linkintime.co.in/mipo/ipoallotment.html
IPO Lead Manager(s)Indorient Financial Services Ltd

FAQs

The Canarys Automations IPO price is ₹ 29 to ₹ 31 per share.

The minimum investment size is one lot for retail investors. One lot of the Canarys Automations IPO contains 4,000 shares of ₹ 124,000.

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.

The Canarys Automations IPO shares listing date is October 11, 2023.

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