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Sahana System IPO GMP, Price, Dates & Allotment Details 2023

Sahana System IPO GMP, Price, Dates & Allotment Details 2023

Introduction

The Sahana System IPO will open on May 31 and close on June 2, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 32.74 crores through this public offering, consisting of 24.25 lakhs shares with a face value of ₹ 10 each, which will be issued at a price of ₹ 132 to ₹ 135 per share.

Sahana System Limited (“the Company”)

Incorporated in 2020, Sahana System Limited is engaged in the business of offering IT-related services, including web app development, mobile application development, AI and ML development, chatbot development, product prototyping, graphics design, UI and UX design, SEO and ASO, digital marketing, website and application migration, cyber security, and outsourcing of IT services. Some of the industries they cater to include healthcare, surveillance, retail, education and e-learning, restaurants, banking, media and entertainment, and fintech. The company is also engaged in the trading of hardware instruments related to fax machines, computers, LEDs, and laptops. Its customer base in IT services is present in countries like Argentina, Saudi Arabia, Canada, and America.

The business segment of the company

  1. IT services
  2. Hardware trading

Company strength

  • End-to-end IT services
  • Leveraging the experience of our Promoter
  • Quality of Services

Objects of the Issue,

The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:

  1. To meet the working capital requirements
  2. Installation of an EV charging station
  3. General Corporate Purposes
  4. To meet the issue’s expenses

Financial Highlights (Restated)

ParticularsFY 2022-23FY 2021-22FY 2020-21
Net Worth1,08045217
Total Assets2,4181,499773
Reserve & Surplus52214316
Total Borrowings477513723
Total Revenue2,4141,217331
Profit After Tax64014116
(Amount in ₹ Lakhs)

IPO details

As per the DRHP filed with SEBI, 24.25 lakh shares will be offered as a fresh issue in the NSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 125,000 shares of the offering. While Unistone Capital Pvt Ltd and Interactive Financial Services Ltd will be the lead manager for the IPO, Purva Sharegistry India Pvt 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₹ 132 to ₹ 135 per share
Face Value₹ 10 per share
Market Lot1,000 shares
Issue Size2,425,000 shares (aggregating up to ₹ 32.74 crores)
Fresh Issue2,425,000 shares (aggregating up to ₹ [.] crores)
QIB Shares OfferedNot more than 10% of the Net Issue
NII (HNI) Shares OfferedNot less than 45% of the offer
Retail Shares OfferedNot less than 45% of the offer
Market MakerRikhav Securities
Market maker portion125,000 shares (This added to NII Reservation.)
Listing AtNSE SME
Company PromotersPratik Kakadia

GMP: Sahana System 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: Sahana System IPO

The issue opens for subscription on May 31, 2023, and closes for subscription on June 2, 2023 (both days inclusive). The basis of allotment will be finalised on June 7, 2023, and the refunds will be initiated on June 8, 2023. In addition, the demat credits are expected to happen on June 9, 2023, and the stock will be listed on the NSE SME on June 12, 2023. The UPI mandate confirmation cut-off time is 5:00 PM on the issue closing day.

Opening DateMay 31, 2023,
Closing DateJune 2, 2023
Basis of AllotmentJune 7, 2023
Initiation of RefundsJune 8, 2023
A credit of shares to Demat A/cJune 9, 2023
Listing DateJune 12, 2023

Lot Size

The lot size of the Sahana System IPO is 1,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,000 shares of ₹ 135,000.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,000₹ 135,000
Retail (Maximum)11,000₹ 135,000
HNI (Minimum)22,000₹ 270,000

Promoters Holdings 

Pre-issue Shares Holdings90.25%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationSahana System Limited
901-A-Block, Mondeal Square, Nr. Iscon Elegance,
S.G. Highway, Prahladnagar Ahmedabad – 380015
Phone: +91 79 4601 4490
Email: [email protected]
Website: http://www.sahanasystem.com/
IPO RegistrarPurva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: [email protected]
Website: http://www.purvashare.com
IPO Lead Manager(s)1. Unistone Capital Pvt Ltd
2. Interactive Financial Services Ltd 

FAQs

The Sahana System IPO price is ₹ 132 to ₹ 135 per share

The minimum investment size is one lot for retail investors. One lot of the Sahana System IPO contains 1,000 shares of ₹ 135,000.

The finalisation of the basis of allotment for the Sahana System IPO will be done on June 7, 2023, and the allotted shares will be credited to your demat account by June 9, 2023. Check the Sahana System IPO allotment status.

The Sahana System IPO shares listing date is June 12, 2023.

The investors’ portion for QIB is 10% of the Net offers, NII (HNI) is 45%, and retail is 45% of the offer.

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