Listing Details
- Listing Exchange NSE SME
- Listing Date 15-Mar-23
- IPO Price Range ₹ 85 to ₹ 90
- Listing Price ₹ 98
- Listing Change 8.9%
- Last Traded Price ₹ 233.55
- Current Change 159.5%
Systango Technologies IPO Details
- Open Date 02-Mar-23
- Close Date 06-Mar-23
- Lot Size 1600
- IPO Size ₹ 34.82 Cr
- IPO Price Range ₹ 85 to ₹ 90
- Min Investment ₹ 136000
- Listing Exchange NSE SME
- Basis of Allotment 10-Mar-23
- Refunds 13-Mar-23
- Credit to Demat Account 14-Mar-23
- Listing Date 15-Mar-23
Systango Technologies IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 02-Mar-23 | 0.00x | 0.96x | 3.24x | 1.28x |
| 03-Mar-23 | 0.41x | 3.75x | 12.10x | 5.01x |
| 06-Mar-23 | 14.10x | 230.36x | 66.59x | 64.99x |
Systango Technologies IPO Synopsis
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
About Systango Technologies
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
Systango Technologies Financial Status
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% |
Systango Technologies IPO Key Points
-
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
How to apply for IPO?
-
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 -
Approve the mandate request on your UPI and funds
will be blocked
Open Demat Account in 5 minutes
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Systango Technologies IPO FAQs
What is the price band of the Systango Technologies IPO?
The price for the Systango Technologies IPO is set at Rs. 85 – 90 per share
When does the Systango Technologies IPO issue open and close?
The Systango Technologies IPO opens on 2nd March and closes on 6th March.
What is the size of Systango Technologies IPO issue?
The Systango Technologies IPO entails of fresh issue of 3,868,800 equity shares aggregating the issue size to Rs. 34.82 cr.
What is the allotment date of Systango Technologies IPO?
The allotment date of Systango Technologies IPO is set for 10th March.
What is the Systango Technologies IPO’s listing date?
The Systango Technologies IPO will be listed on 15th March
What is the lot size and investment required for the Systango Technologies IPO?
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).
What is the objective of the Systango Technologies IPO?
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
How to apply for the Systango Technologies IPO?
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
Who are the promoters/key personnels of Systango Technologies IPO?
Systango Technologies IPO is promoted by Vinita Rathi and Nilesh Rathi.
Who are the book runners for Systango Technologies IPO?
Hem Securities Limited is the book running lead managers to the issue.
Contact Details of Systango Technologies IPO
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/
Systango Technologies IPO Register
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
Systango Technologies IPO Lead Manager
Hem Securities Limited