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Systango Technologies IPO

Systango Technologies IPO

  • Status: Closed
  • RHP:
  • ₹ 136,000 / 1600 shares

    Minimum Investment

IPO Details

  • Open Date

    02 Mar 2023

  • Close Date

    06 Mar 2023

  • IPO Price Range

    ₹ 85 to ₹ 90

  • IPO Size

    ₹ 34.82 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    15 Mar 2023

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Systango Technologies IPO opens on Mar 2, 2023, and closes on Mar 6, 2023. The issue entails of fresh issue of 3,868,800 equity shares aggregating the issue size to Rs. Rs. 34.82cr. The lot is set at 1600 while the price band is set for Rs. 85 – 90 per share. The issue will be listed on NSE SME on 15th March while the shares will be allotted on 10th March.

Hem securities Ltd. is the lead manager to the issue

Objective of the Systango Technologies IPO 

The net proceeds from the issue will be utilized for:

•    Strategic Investment and Acquisitions
•    Investment in Subsidiaries
•    To Meet Working Capital Requirements
•    General Corporate Purposes
•    Issue Expenses

Systango Technologies is primarily engaged in the business of providing software solutions that enables companies to design, implement and manage their own customized digital platforms including Web2, Web3 and mobile applications with strong emphasis on data and analytics. 

It provides range of software solution services including like: website development, mobile app development (both for iOS and Android applications), web3 development, DeFi (Decentralized finance), data engineering, implementation of blockchain, cloud computing, digital marketing etc for companies across sectors such as Financial Services (FinTech), Hospitality, Fantasy Sports, Property Tech etc.

The company has evolved as professional and technical service provider by offering end-to-end technology solutions and support which combine the functionality, flexibility and customer software development for our customers with the Cost effective, speed of implementation and other operational benefits of outsourcing. 

It has its headquarters in Special Economic Zone (SEZs) of Indore to avail tax benefits as per SEZ norms. The operations are further facilitated through its wholly owned subsidiary Companies i.e. Isystango Ltd. in UK and Systango LLC in USA.
 

Check out the webstories on Systango Technologies IPO Details

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY22 FY21 FY20
Revenue 32.69 22.99 14.28
EBITDA 7.43 6.27 3.04
PAT 6.77 5.68 2.52
Particulars (in Rs. Crores) FY22 FY21 FY20
Total Assets 22.89 15.38 7.44
Share Capital 2.70 2.70 0.55
Total Borrowings 0.00 0.00 0.00
Particulars (in Rs. Crores) FY22 FY21 FY20
Net cash generated from / (used in) operating activities 5.2 7.3 3.7
Net cash from / (used in) investing activities -1.9 -6.1 -2.7
Net cash flow from / (used in) financing activities 0.0 -0.6 0.0
Net increase (decrease) in cash and cash equivalents 3.4 1.1 0.5

Peer Comparison

Name of the Company Total Revenue  Basic EPS NAV PE RoNW%
Systango Technologies Ltd 22.39 6.27 NA NA 39.30%
InfoBeans Technologies Ltd 288.98 22.82 549.5 24.29 23.88%
Innovana Thinklabs Limited 61.92 20.46 669 32.7 24.92%
Ksolves India Ltd 48.33 12.88 441.55 34.28 93.63%


Strengths

•    It serves a diversified client base catering to various industries belonging to sectors including Financial Services (FinTech), Hospitality, Travel, and Fantasy Sports etc
•    It has a s diversified revenue from multiple geographical locations across the world and most of the revenue is derived from exports sales
•    Strong User Interface (UI)/ User Experience (UX) Design Capabilities and hyper-focus on customer success
•    End-to-end solutions and support
 

Risks

•    It is dependent on a few customers for a major part of its revenues and does not have any long-term contracts with their customers
•    Company’s success depends largely upon its skilled professionals and its ability to attract and retain these personnel.
•    There have been certain instances of non-compliances/ discrepancies, including with respect to certain secretarial/ regulatory filings for corporate actions taken by the company and its subsidiaries in the past
•    Failure to adapt our product offerings to changing market technology and consumer preferences
 

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FAQs

The price for the Systango Technologies IPO is set at Rs. 85 – 90 per share

The Systango Technologies IPO opens on 2nd March and closes on 6th March.

The Systango Technologies IPO entails of fresh issue of 3,868,800 equity shares aggregating the issue size to Rs. 34.82 cr.

The allotment date of Systango Technologies IPO is set for 10th March.

The Systango Technologies IPO will be listed on 15th March 

The Systango Technologies IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 share or Rs. 144,000).

The net proceeds from the issue will be used for: 

•    Strategic Investment and Acquisitions
•    Investment in Subsidiaries
•    To Meet Working Capital Requirements
•    General Corporate Purposes
•    Issue Expenses
 

To apply for the IPO, follow the steps given below

•    Login to your 5paisa account and select the issue in the current IPO section
•    Enter the number of lots and price at which you wish to apply for
•    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange
•    You will receive a mandate notification to block funds in your UPI app

Systango Technologies IPO is promoted by Vinita Rathi and Nilesh Rathi.

Hem Securities Limited is the book running lead managers to the issue.