What you must know about Esconet Technologies IPO?
by 5paisa Research Team
13 Feb 2024
Listing Details
- Listing Exchange NSE SME
- Listing Date 23-Feb-24
- IPO Price Range ₹ 80
- Listing Price ₹ 290
- Listing Change 262.5%
- Last Traded Price ₹ 226.4
- Current Change 183.0%
Esconet IPO Details
- Open Date 16-Feb-24
- Close Date 20-Feb-24
- Lot Size 1600
- IPO Size ₹ 28.22 Cr
- IPO Price Range ₹ 80
- Min Investment ₹ 128000
- Listing Exchange NSE SME
- Basis of Allotment 21-Feb-24
- Refunds 22-Feb-24
- Credit to Demat Account 22-Feb-24
- Listing Date 23-Feb-24
Esconet Technologies IPO Subscription Status
| Date | QIB | NII | Retail | TOTAL |
|---|---|---|---|---|
| 16-Feb-24 | 1.26 | 5.49 | 15.90 | 9.49 |
| 19-Feb-24 | 1.33 | 74.83 | 133.82 | 83.34 |
| 20-Feb-24 | 156.02 | 868.05 | 553.02 | 507.24 |
Esconet IPO Synopsis
Esconet Technologies Limited IPO is all set to open from 16th February to 20th February 2024. The company offers a diverse range of IT requirements. The IPO includes a fresh issue of 3,360,000 shares worth ₹28.22 cr. The share allotment date is 21st February 2024, and the IPO will be listed on 23rd February 2024 on the stock exchanges. The price band is ₹80 to ₹84 and the lot size is 1600 shares.
Corporate Capital Ventures Private Limited is the book-running lead manager for this IPO, while Skyline Financial Services Private Limited is the registrar.
Objectives of Esconet Tech IPO:
Esconet Technologies Limited plans to utilize the raised capital from the IPO to:
● To invest and provide capital expenditure requirements to the wholly-owned subsidiary Zeacloud Services Private Limited.
● To meet working capital requirements.
● General corporate purposes.
About Esconet Technologies
Established in 2012, Esconet Technologies Limited offers a diverse range of IT requirements for SMEs, large enterprises, and public sector clients. This includes high-performance supercomputing solutions, data centre facilities, encompassing storage servers, network security, virtualization, and data protection. The company also provides cloud services via its wholly-owned subsidiary, ZeaCloud Services. It offers high-performance Servers, Workstations, and storage systems under the brand name of HexaData.
Some of the reputed clients of Esconet Technologies include Ministry of Defence, National Informatics Centre-MeitY, National Informatics Centre Services Inc. – MeitY, Indian Institute of Technology, Indraprastha Institute of Technology Limited, Bharat Electronics Limited, Oil & Natural Gas Commission Limited, Engineers India Limited, Hindustan National Glass & Industries Limited, etc.
The company also has a strategic collaboration with NVIDIA, which has provided for its growth in the space of Artificial Intelligence (AI) and Machine Learning (ML).
Peer Comparison
● E2e Networks Limited
● Netweb Technologies India Limited
For More Information:
Webstory on Esconet Technologies IPO
Esconet Technologies Financial Status
Profit and Loss
Balance Sheet
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Revenue from operations | 94.66 | 68.56 | 44.11 |
| EBITDA | 6.37 | 2.02 | 0.11 |
| PAT | 3.04 | 0.72 | -1.00 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Total Assets | 27.61 | 25.87 | 17.48 |
| Share Capital | 0.767 | 0.767 | 0.767 |
| Total Borrowings | 22.07 | 23.37 | 15.70 |
| Particulars (in Rs. Crores) | FY23 | FY22 | FY21 |
|---|---|---|---|
| Net cash generated from / (used in) operating activities | -1.70 | 0.80 | -0.22 |
| Net cash from / (used in) investing activities | -0.23 | -1.47 | -0.59 |
| Net cash flow from / (used in) financing activities | 2.13 | 0.63 | -1.78 |
| Net increase (decrease) in cash and cash equivalents | 0.19 | -0.041 | -2.59 |
Esconet IPO Key Points
-
Strengths
1. The company has strategic collaborations with NVIDIA, CISCO, etc.
2. It also has strong and long-standing customer relationships.
3. It has worked with various well-known public and private sector enterprises.
4. Experienced Promoter and management team
-
Risks
1. The top five clients contribute majorly to the revenues and in the last three years, a significant portion of revenues from operations are from Government Projects.
2. It has reported negative cash flows in the past.
3. The company is subject to evolving laws regarding privacy, data protection, and other related matters.
4. Operates in a highly competitive industry.
Esconet
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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Esconet IPO FAQs
When does the Esconet Technologies IPO opens and closes?
Esconet Technologies IPO opens from 16th February to 20th February 2024.
What is the size of the Esconet Technologies IPO?
The size of Esconet Technologies IPO is ₹28.22 cr.
How to apply for the Esconet Technologies IPO?
To apply for Esconet Technologies 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 Esconet Technologies Limited 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.
What is the price band of the Esconet Technologies IPO?
The price band of Esconet Technologies IPO is fixed at ₹80 to ₹84 per share.
What is the minimum lot size and investment required for the Esconet Technologies IPO?
The minimum lot size of Esconet Technologies IPO is 1600 shares and the investment required is ₹1,28,000.
What is the allotment date of the Esconet Technologies IPO?
The share allotment date of Esconet Technologies IPO is 21st February 2024.
What is the Esconet Technologies IPO listing date?
The Esconet Technologies IPO will be listed on 23rd February 2024.
Who are the book runners for the Esconet Technologies IPO?
Corporate Capital Ventures Private Limited is the book-running lead manager for Esconet Technologies IPO.
What is the objective of the Esconet Technologies IPO?
Esconet Technologies Limited plans to utilize the raised capital from the IPO to:
1. To invest and provide capital expenditure requirements to the wholly-owned subsidiary Zeacloud Services Private Limited.
2. To meet working capital requirements.
3. General corporate purposes.
Contact Details of Esconet Technologies IPO
Contact Information
Esconet Technologies Limited
D-147,
Okhla Industrial Area Phase 1,
South Delhi, New Delhi – 110020
Phone: +91 9311881642
Email: cs@esc.co.in
Website: https://www.esc.co.in/
Esconet Technologies IPO Register
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php
Esconet Technologies IPO Lead Manager
Corporate Capitalventures Pvt Ltd.
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