Systango Technologies IPO GMP, Price, Dates & Allotment Details 2023
Systango Technologies IPO opens on March 2 and closes on March 6, 2023. According to the DRHP filed in SEBI, the company is planning to issue 3,868,800 shares through this public issue.
The business was established in 2004. With a focus on data and analytics, Systango Technologies Limited offers software solutions that let businesses create, deploy, and manage their own proprietary digital platforms, including Web2, Web3, and mobile applications. The company provides businesses in sectors like financial services (FinTech), hospitality, fantasy sports, property tech, and more with a range of software solution services, including website development, mobile app development (for both iOS and Android applications), web3 development, DeFi (decentralized finance), data engineering, blockchain implementation, cloud computing, digital marketing, and more.
The majority of the business’s earnings comes from export sales, and it serves a variety of clients in ten different countries with the help of its own subsidiaries.
Objects of the Issue
The company proposes to utilize the net proceeds of the Fresh Issue towards funding the following objects:
- Strategic Investment and Acquisitions;
- Investment in subsidiaries;
- To meet working capital requirements,
- general corporate purposes;
- Issue Expenses.
Financial Highlights (Restated)
| Particulars | Period ended on 30th Sep. 2022 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|
| Net Worth | 2,297 | 1,722 | 1,046 | 477 |
| Total Assets | 2,732 | 2,289 | 1,538 | 744 |
| Total Revenue | 2,301 | 3,392 | 2,388 | 1,455 |
| Profit After Tax | 572 | 677 | 568 | 252 |
Systango Technologies IPO – Details
| Issue Type | Book Built Issue IPO |
| IPO Price | ₹ 85 to ₹ 90 per share |
| Face Value | ₹ 10 per share |
| Market Lot | 1600 Shares |
| Issue Size | 3,868,800 shares of ₹ 10 (Aggregating up to ₹ 34.82 Crore) |
| Fresh Issue | 3,868,800 shares of ₹ 10 (Aggregating up to ₹ 34.82 Crore) |
| Market Maker Portion | 196,800 shares |
| QIB Shares Offered | Not more than 50% of the net issue |
| NII (HNI) Shares Offered | Not less than 15% of the net issue |
| Retail Shares Offered | Not less than 35% of the net issue |
| Listing At | NSE SME |
| Company Promoters | Vinita Rathi Nilesh Rathi |
GMP – Systango Technologies IPO
Systango 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 stabilize after some time. GMP rates are not 100% guaranteed. Please click here for GMP details.
Tentative Dates – Systango Technologies IPO
The issue opens for subscription on March 2, 2023, and closes for subscription on March 6, 2023 (both days inclusive). The basis of allotment will be finalized on March 10th, 2023, and the refunds will be initiated on March 13th, 2023. In addition, the demat credits are expected to happen on March 14, 2023, and the stock will list on March 15, 2023, on the NSE SME segment.
| Opening Date | March 2, 2023 |
| Closing Date | March 6, 2023 |
| Basis of Allotment | March 10, 2023 |
| Initiation of Refunds | March 13, 2023 |
| Credit of shares to Demat A/c | March 14, 2023 |
| Listing Date | March 15, 2023 |
Lot Size – Systango Technologies IPO
The lot size of the Systango Technologies IPO is 1,600 shares. A retail-individual investor can apply for up to 1 lot, i.e. 1,600 shares of ₹ 144,000.
| Applications | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Minimum) | 1 | 1,600 | ₹ 144,000 |
| Retail (Maximum) | 1 | 1,600 | ₹ 144,000 |
| HNI (Minimum) | 2 | 3,200 | ₹ 288,000 |
Promoters Holdings – Systango Technologies IPO
| Pre-issue Shares Holdings | 97.73% |
| Post-issue Shares Holdings | – |
Miscellaneous Information
| Download Prospectus (PDF) | IPO DRHP IPO RHP |
| Company Contact Information | Systango Technologies Limited Third Floor (LHS), STP-I Crystal IT Park, Ring Road, Indore – 452010 Phone: +91 0731 2971030 Email: cs@systango.com Website: http://www.systango.com/ |
| IPO Registrar | Bigshare Services Pvt Ltd Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: http://www.bigshareonline.com |
| IPO Lead Manager(s) | Hem Securities Limited |
FAQ’s
When will Systango Technologies IPO allotment be available?
The finalization of the basis of allotment for the Systango Technologies IPO will be done on March 10, 2023, and the allotted shares will be credited to your demat account by March 14, 2023. Check the Systango Technologies IPO allotment status.
When will Systango Technologies IPO list on exchanges?
The Systango Technologies IPO shares listing date is March 15, 2023.
