Sancode Technologies IPO GMP, Price, Dates & Allotment Details 2023
Introduction
The Sancode Technologies IPO will open on March 31 and close on April 6, 2023. As per the DRHP filed with SEBI, the company intends to raise approximately ₹ 5.15 crore through this public offering, consisting of 10.95 lakhs shares with a face value of ₹ 10 each. Which will be issued at a price of ₹ 47 per share.
About Sancode Technologies Limited (“the Company”)
Incorporated in 2016. A software and product development company called Sancode Technologies Limited offers an API-enabled platform and solutions that make it possible for businesses to quickly implement strong technological solutions that meet their critical business needs. They give organisations pre-built business logic and solution workflows that are simple to apply, particularly for financial automation, enabling them to promote digital transformation and competitive differentiation.
The organisation hired a group of solution architects, project managers, and business analysts with the primary goal of bridging the technological and business divide. They collaborate with a network of implementation partners to deliver solutions to their clients in the following fields:
- Digital transformation.
- Workflow automation.
- Artificial intelligence (AI) and Machine learning (ML).
- Robotic Process Automation (RPA) and Data analytics.
- Metaverse and Web3 applications
- System Integration.
The company’s customer base is spread across the globe with a presence in countries majorly the United States of America. They also have a presence in international markets by way of its foreign subsidiaries such as Zsolt Ventures Inc and Dhruva Advisors USA Inc.
Sancode Technologies Limited business has multiple revenue streams including:
Sale of software products: one-time upfront licence fees about tech solutions and products deployed on-premise.
Annuity-based revenue: recurring fees/charges from the following:
- SaaS: subscription fees for licences in relation to APIs and solutions deployed on the cloud.
- ATS/AMC: Charges for annual technical support and maintenance (including updates) of licences, and
- Support: Charges for support and development services.
Sale of services: Milestone-based charges for implementing and developing white-labelled or custom solutions.
Objects of the Issue
The company proposes utilising the Fresh Issue’s net proceeds towards funding the following objects:
- Funding working capital requirements.
- general corporate purposes.
Financial Highlights (Restated Consolidated)
| Particulars | Period ended on 30th Sep. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 368 | 287 | 224 | 221 |
| Total Assets | 481 | 350 | 314 | 330 |
| Total Borrowings | 21 | 21 | 64 | 0 |
| Total Revenue | 181 | 245 | 160 | 43 |
| Profit After Tax | 89 | 75 | (26) | (147) |
IPO details
As per the DRHP filed with SEBI, a total of 10.95 lakh shares will be offered as part of the fresh issue on the BSE SME segment. The face value of the shares is ₹ 10. The market maker would receive 57,000 shares of the offering. While Shreni Shares Private Limited will be the lead manager for the IPO, Bigshare Services Pvt Ltd will be the registrar. It will be a Fixed Price Issue IPO, so there will be price at which the securities are offered or allotted is known in advance to the investor.
| Issue Type | Fixed Price Issue IPO |
| IPO Price | ₹ 47 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 3,000 shares |
| Issue Size | 1,095,000 shares of ₹ 10 each (Aggregating up to ₹ 5.15 Crore) |
| Fresh Issue | 1,095,000 shares of ₹ 10 each (Aggregating up to ₹ 5.15 Crore) |
| Retail Shares Offered | Not less than 50% of the offer |
| Market Maker | Shreni Shares Private Limited |
| Market maker portion | 57,000 shares |
| Listing At | BSE SME |
| Company Promoters | Amit Vijay Jain, Khushboo Jain, Mihir Deepak Vora, and ZNL Startup Accelerator LLP |
GMP: Sancode Technologies IPO
Sancode Technologies’ 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: Sancode Technologies IPO
The issue opens for subscription on March 31, 2023, and closes for subscription on April 6, 2023 (both days inclusive). The basis of allotment will be finalised on April 12th, 2023, and the refunds will be initiated on April 13, 2023. In addition, the demat credits are expected to happen on April 17, 2023, and the stock will list on April 18, 2023, on the BSE SME segment.
| Opening Date | March 31, 2023 |
| Closing Date | April 6, 2023 |
| Basis of Allotment | April 12, 2023 |
| Initiation of Refunds | April 13, 2023 |
| Credit of shares to Demat A/c | April 17, 2023 |
| Listing Date | April 18, 2023 |
Lot Size: Sancode Technologies IPO
The lot size of the Sancode Technologies IPO is 3,000 shares. A retail-individual investor can apply for up to 1 lot, i.e. 3,000 shares of ₹ 141,200.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 3,000 | ₹ 141,000 |
| Retail (Maximum) | 1 | 3,000 | ₹ 141,000 |
| HNI (Minimum) | 2 | 6,000 | ₹ 282,000 |
Promoters Holdings
| Pre-issue Shares Holdings | 97.47% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP |
| Company Contact Information | Sancode Technologies Limited 107, Prime Plaza, J.V. Patel Compound, B.M. Road, Opp. Elphinstone Stn. Mumbai – 400013 Phone: 022-49622853 Email: [email protected] Website: https://www.sancodetech.com/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: [email protected] Website: https://www.bigshareonline.com/ |
| IPO Lead Manager(s) | SHRENI SHARES PRIVATE LIMITED |
FAQ’s
What is Sancode Technologies Limited IPO price?
The Sancode Technologies Limited IPO price is ₹ 47 per share.
What will be the Sancode Technologies Limited IPO lot size?
One lot of the Sancode Technologies Limited IPO contains 3,000 shares of ₹ 141,000.
What minimum lot size can retail investors subscribe to?
The minimum investment size is one lot for retail investors.
When will Sancode Technologies Limited IPO allotment be available?
The finalization of the basis of allotment for the Sancode Technologies Limited IPO will be done on April 12, 2023, and the allotted shares will be credited to your demat account by April 17, 2023. Check the Sancode Technologies Limited IPO allotment status.
When will Sancode Technologies Limited IPO list on exchanges?
The Sancode Technologies Limited IPO shares listing date is April 18, 2023.
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