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Systango Technologies IPO GMP, Price, Dates & Allotment Details 2023

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:

  1. Strategic Investment and Acquisitions;
  2. Investment in subsidiaries;
  3. To meet working capital requirements,
  4. general corporate purposes;
  5. Issue Expenses.

Financial Highlights (Restated)

ParticularsPeriod ended on 30th Sep. 2022FY 2021-22FY 2020-21FY 2019-20
Net Worth2,2971,7221,046477
Total Assets2,7322,2891,538744
Total Revenue2,3013,3922,3881,455
Profit After Tax572677568252
(Amount in ₹ Lakhs)

Systango Technologies IPO – Details

Issue TypeBook Built Issue IPO
IPO Price₹ 85 to ₹ 90 per share
Face Value₹ 10 per share
Market Lot1600 Shares
Issue Size3,868,800 shares of ₹ 10  (Aggregating up to ₹ 34.82 Crore)
Fresh Issue3,868,800 shares of ₹ 10  (Aggregating up to ₹ 34.82 Crore)
Market Maker Portion196,800 shares
QIB Shares OfferedNot more than 50% of the net issue
NII (HNI) Shares OfferedNot less than 15% of the net issue
Retail Shares OfferedNot less than 35% of the net issue
Listing AtNSE SME
Company PromotersVinita 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 DateMarch 2, 2023
Closing DateMarch 6, 2023
Basis of AllotmentMarch 10, 2023
Initiation of RefundsMarch 13, 2023
Credit of shares to Demat A/cMarch 14, 2023
Listing DateMarch 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.

ApplicationsLotsSharesAmount 
Retail (Minimum)11,600₹ 144,000
Retail (Maximum)11,600₹ 144,000
HNI (Minimum)23,200₹ 288,000

Promoters Holdings – Systango Technologies IPO

Pre-issue Shares Holdings97.73%
Post-issue Shares Holdings

Miscellaneous Information

Download Prospectus (PDF)IPO DRHP
IPO RHP
Company Contact InformationSystango Technologies Limited
Third Floor (LHS), STP-I Crystal IT Park, Ring Road, Indore – 452010
Phone: +91 0731 2971030
Email: [email protected]
Website: http://www.systango.com/
IPO RegistrarBigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: [email protected]
Website: http://www.bigshareonline.com
IPO Lead Manager(s)Hem Securities Limited 

FAQ’s

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.

The Systango Technologies IPO shares listing date is March 15, 2023.

Click here for more FAQs.

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