Canarys Automations IPO is a book built issue of Rs 47.03 crores. The issue is entirely a fresh issue of 151.72 lakh shares.
Canarys Automations IPO bidding started from September 27, 2023 and ended on October 3, 2023. The allotment for Canarys Automations IPO was finalized on Friday, October 6, 2023. Canarys Automations IPO will list on NSE SME with tentative listing date fixed as Wednesday, October 11, 2023.
Canarys Automations IPO price band is set at ₹29 to ₹31 per share. The minimum lot size for an application is 4000 Shares. The minimum amount of investment required by retail investors is ₹124,000. The minimum lot size investment for HNI is 2 lots (8,000 shares) amounting to ₹248,000.
Indorient Financial Services Ltd is the book running lead manager of the Canarys Automations IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Canarys Automations IPO is Alacrity Securities.
Refer to Canarys Automations IPO RHP for detailed information.
Canarys Automations IPO Details
| IPO Date | September 27, 2023 to October 3, 2023 |
| Listing Date | [11 OCTOMBER 2023 ] |
| Face Value | ₹2 per share |
| Price Band | ₹29 to ₹31 per share |
| Lot Size | 4000 Shares |
| Total Issue Size | 15,172,000 shares (aggregating up to ₹47.03 Cr) |
| Fresh Issue | 15,172,000 shares (aggregating up to ₹47.03 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 41,011,920 |
| Share holding post issue | 56,183,920 |
| Market Maker portion | 760,000 shares Alacrity Securities |
Canarys Automations IPO Reservation
Canarys Automations IPO a total of 14,656,000 shares are offered. QIB: 2,880,000 (19.65%), NII: 2,736,000 (18.67%), RII: 5,048,000 (34.44%).
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 3,232,000 (22.05%) |
| Market Maker Shares Offered | 760,000 (5.19%) |
| QIB Shares Offered | 2,880,000 (19.65%) |
| NII (HNI) Shares Offered | 2,736,000 (18.67%) |
| Retail Shares Offered | 5,048,000 (34.44%) |
| Total Shares Offered | 14,656,000 (100%) |
Canarys Automations IPO Anchor Investors Details
Canarys Automations IPO raises Rs 10.02 crore from anchor investors. Canarys Automations IPO Anchor bid date is September 26, 2023. Canarys Automations IPO Anchor Investors list
| Bid Date | September 26, 2023 |
| Shares Offered | 3,232,000 |
| Anchor Portion Size (In Cr.) | 10.02 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 21, 2023 |
| Anchor lock-in period end date for remaining shares (90 Days) | February 15, 2024 |
Canarys Automations IPO Timeline (Tentative Schedule)
Canarys Automations IPO opens on September 27, 2023, and closes on October 3, 2023.
| IPO Open Date | Wednesday, September 27, 2023 |
| IPO Close Date | Tuesday, October 3, 2023 |
| Basis of Allotment | Friday, October 6, 2023 |
| Initiation of Refunds | Monday, October 9, 2023 |
| Credit of Shares to Demat | Tuesday, October 10, 2023 |
| Listing Date | Wednesday, October 11, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 3, 2023 |
Canarys Automations IPO Lot Size
Investors can bid for a minimum of 4000 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 4000 | ₹124,000 |
| Retail (Max) | 1 | 4000 | ₹124,000 |
| HNI (Min) | 2 | 8,000 | ₹248,000 |
| Lot Size Calculator |
Canarys Automations IPO Promoter Holding
Mr. Metikurke Ramaswamy Raman Subbarao, Mr. Danavadi Krishnamurthy Arun, Mr. Raghu Chandrashekhariah, Mr. Sheshadri Yedavanahalli Srinivas, Mr. Pushparaj Shetty and Mr. Nagaraju Vineeth are the company’s promoters.
| Share Holding Pre Issue | 77.49% |
| Share Holding Post Issue |
About Canarys Automations Limited
Incorporated in 1991, Canarys Automations Limited provides IT solutions in the space of Digitalization, Modernization, Automation, and Intelligence.
The company has two business verticals:
- Technology solutions: This includes a multiple array of consulting solutions in Digitalization, Modernization, Cloudification, Automation, Transformation, and Intelligence. Technology expertise includes DevOps Consulting (Azure, GitHub, Atlassian, GitLab, etc.), Cloud Consulting (Azure, AWS, GCP), Digital Enterprise Solutions using SAP, MS Dynamics 365, RPA, Digital Applications, and Mobility Solutions.
- Water Resource Management Solution: This involves automation solutions to modernize irrigation water conservation and improve water use efficiency, Turnkey flood risk assessment and mitigation, cloud-based water utilization process automation for water sharing in rivers and canals, and SCADA gate control systems.
Canarys Automations’ solutions span across various industry sectors, including BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, Insurance, and more.
The company has provided business applications to over 1000 customers. Besides India, the company has serviced customers from more than 10 countries. These include USA, UK, Canada, Germany, Singapore, Malaysia, Brunei, Australia, Srilanka and Indonesia. These customers come from diverse industries.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 2,003.04 | 4,753.57 | 6,377.89 |
| Revenue | 2,578.22 | 5,199.93 | 7,547.28 |
| Profit After Tax | 210.42 | 455.81 | 852.51 |
| Net Worth | 1,258.17 | 1,683.44 | 2,537.91 |
| Reserves and Surplus | 546.90 | 755.40 | 1,609.87 |
| Total Borrowing | 879.33 | 1,415.61 |
Amount in ₹ Lakhs
Key Performance Indicator
| KPI | Values |
|---|---|
| Post P/E (x) | 20.39 |
| Market Cap (₹ Cr.) | 174.17 |
| EPS (Rs) | 3.92 |
| RoNW | 31.64% |
Check Canarys Automations IPO Peer Comparison here.
Objects of the Issue (Canarys Automations IPO Objectives)
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Funding of expenditure relating to solutions development for digital transformation and water resources management solutions.
- Creation of a new delivery center including infrastructure thereof and upgrading existing facilities.
- Funding working capital requirements of the Company.
- General corporate purposes.
Canarys Automations IPO Review (Apply)
[Dilip Davda] CAL is a niche player in IT automation solutions and water resource management. It has posted steady growth for the reported periods of the offer document. FY23 performance indicates future prospects. It has an order book worth Rs. 57.93 cr. as of August 31, 2023. Based on its financial performances so far, though the issue appears fully priced, it is worth considering for medium to long-term rewards. Read detail review…
Canarys Automations IPO Subscription Status (Bidding Detail)
The Canarys Automations IPO is subscribed 9.94 times on Oct 3, 2023 7:29:00 PM. The public issue subscribed 11.70 times in the retail category, 2.73 times in the QIB category, and 14.29 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 2.73 |
| NII | 14.29 |
| Retail | 11.70 |
| Total | 9.94 |
Total Application : 14,771 (11.70 times)
Canarys Automations IPO Contact Details
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 Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: canarys.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html