What you must know about Canarys Automations IPO?
by 5paisa Research Team
25 Sep 2023
Listing Details
- Listing Exchange NSE SME
- Listing Date 11-Oct-23
- IPO Price Range ₹ 29 to ₹ 31
- Listing Price ₹ 43.45
- Listing Change 40.2%
- Last Traded Price ₹ 55.5
- Current Change 79.0%
Canarys IPO Details
- Open Date 27-Sep-23
- Close Date 03-Oct-23
- Lot Size 4000
- IPO Size ₹ 47.03 Cr
- IPO Price Range ₹ 29 to ₹ 31
- Min Investment ₹ 116000
- Listing Exchange NSE SME
- Basis of Allotment 06-Oct-23
- Refunds 09-Oct-23
- Credit to Demat Account 10-Oct-23
- Listing Date 11-Oct-23
Canarys Automations IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 27-Sep-23 | 0.00 | 0.38 | 0.43 | 0.30 |
| 28-Sep-23 | 0.00 | 0.18 | 0.85 | 0.45 |
| 29-Sep-23 | 0.00 | 0.59 | 1.89 | 1.05 |
| 03-Oct-23 | 2.73 | 14.29 | 11.70 | 9.94 |
Canarys IPO Synopsis
Canarys Automations Limited IPO is all set to open from 27th September to 3rd October 2023. The company is involved in the business of providing IT solutions for Digitalization, Modernization, Automation, and Intelligence. The IPO includes a fresh issue of 15,172,000 shares worth ₹47.03 cr. The share allotment date is 6th October, and the IPO will be listed on 11th October, on the stock exchanges. The price band is ₹29 to ₹31 per share and the lot size is 4000 shares.
Indorient Financial Services Limited is the book-running lead manager for this IPO, while Link Intime India Private Limited is the registrar.
Objectives of Canarys Automations IPO
Canarys Automations plans to utilize the raised capital from the IPO to:
● To fund capital expenditure related to solutions development for digital transformation and water resources management solutions.
● For expenses related to the Creation of a new delivery center including infrastructure and upgrading existing facilities.
● For working capital requirements.
● General corporate purpose.
About Canarys Automations
Established in 1991, Canarys Automations is involved in the business of providing IT solutions for Digitalization, Modernization, Automation, and Intelligence. The company’s solutions cater to a diverse range of industries, including BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, Insurance, and more.
Canarys Automations operates through two primary business segments:
Technology Solutions: This includes a wide range of consulting services covering Digitalization, Modernization, Cloudification, Automation, Transformation, and Intelligence. It also includes technological expertise related to DevOps Consulting (with tools like Azure, GitHub, Atlassian, GitLab, etc.), Cloud Consulting (Azure, AWS, GCP), Digital Enterprise Solutions utilizing SAP, MS Dynamics 365, RPA, Digital Applications, and Mobility Solutions.
Water Resource Management Solutions: This includes automation solutions aimed at modernizing irrigation practices, enhancing water conservation, and optimizing water utilization. The offerings entail comprehensive flood risk assessment and mitigation solutions, cloud-based automation for efficient water sharing in rivers and canals, as well as SCADA gate control systems.
With a track record of serving over 1,000 customers, the company has a presence in India as well as more than 10 countries, including the USA, UK, Canada, Germany, Singapore, Malaysia, Brunei, Australia, Sri Lanka, and Indonesia.
Peer Comparison
● All E Technologies Limited
● Happiest Minds Limited
Canarys Automations Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue | 74.52 | 51.51 | 25.62 |
| EBITDA | 13.47 | 7.06 | 3.34 |
| PAT | 8.53 | 4.56 | 2.10 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 63.78 | 47.54 | 20.03 |
| Share Capital | 9.28 | 9.28 | 7.11 |
| Total Borrowings | 38.40 | 30.70 | 7.45 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | -6.19 | -2.65 | -1.60 |
| Net cash from / (used in) investing activities | -1.78 | 0.26 | -1.38 |
| Net cash flow from / (used in) financing activities | 4.60 | 8.46 | 5.64 |
| Net increase (decrease) in cash and cash equivalents | -3.38 | 6.07 | 2.66 |
Canarys IPO Key Points
-
Strengths
1. The company has developed cross-integration across locations, which increases operational efficiency.
2. Follows strict guidelines and highest standards for hydrology, meteorology, and IT consulting space.
3. Pritoize sustainable practices for future-proof solutions.
4. Focus on delivering higher quality to customers.
5. It has an experienced management team and employee base.
-
Risks
1. Revenues from operations are highly dependent on customers in the USA/US. Adverse economic conditions or factors that negatively affect the economic situation of that country could materially adversely affect the business.
2. Global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements.
3. Dependent on authorities of the Central government and State governments for a substantial proportion of the business and revenue.
4. Any increase in operational costs could adversely affect the results of operations.
5. Loss reported in the past.
6. Significant working capital requirements.
Canarys
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
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Canarys IPO FAQs
What is the minimum lot size and investment required for the Canarys Automations IPO?
The minimum lot size of Canarys Automations IPO is 4000 shares and the investment required is ₹1,04,000.
What is the price band of Canarys Automations IPO?
The price for Canarys Automations IPO is ₹29 to ₹31 per share.
When does the Canarys Automations IPO open and close?
Canarys Automations IPO opens from 27th September to 3rd October 2023.
What is the size of the Canarys Automations IPO?
The size of Canarys Automations IPO is ₹47.03 cr.
What is the allotment date of the Canarys Automations IPO?
The share allotment date of Canarys Automations IPO is 6th October 2023.
What is the Canarys Automations IPO listing date?
The Canarys Automations IPO will be listed on 11th October 2023.
Who are the book runners for the Canarys Automations IPO?
Indorient Financial Services Limited is the book-running lead manager for Canarys Automations IPO.
What is the objective of the Canarys Automations IPO?
Canarys Automations plans to utilize the raised capital from the IPO to:
1. To fund capital expenditure related to solutions development for digital transformation and water resources management solutions.
2. For expenses related to the Creation of a new delivery center including infrastructure and upgrading existing facilities.
3. For working capital requirements.
4. General corporate purpose.
How to apply for the Canarys Automations IPO?
To apply for Canarys Automations 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 the price at which you wish to apply for the Canarys Automations IPO.
● 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.
Contact Details of Canarys Automations IPO
Contact Information
Canarys Automations Limited
No. 566 & 567, 2nd Floor, 30th Main,
Attimabbe Road, Banagirinagara,
Banashankari 3rd Stage, Bengaluru - 560085
Phone: +91 98458 62780
Email: nagashree.hegde@ecanarys.com
Website: https://ecanarys.com/
Canarys Automations IPO Register
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: canarys.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Canarys Automations IPO Lead Manager
Indorient Financial Services Ltd
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