Esconet Technologies IPO is a book built issue of Rs 28.22 crores. The issue is entirely a fresh issue of 33.6 lakh shares.
Esconet Technologies IPO opens for subscription on February 16, 2024 and closes on February 20, 2024. The allotment for the Esconet Technologies IPO is expected to be finalized on Wednesday, February 21, 2024. Esconet Technologies IPO will list on NSE SME with tentative listing date fixed as Friday, February 23, 2024.
Esconet Technologies IPO price band is set at ₹80 to ₹84 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹134,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹268,800.
Corporate Capitalventures Pvt Ltd is the book running lead manager of the Esconet Technologies IPO, while Skyline Financial Services Private Ltd is the registrar for the issue. The market maker for Esconet Technologies IPO is Ss Corporate Securities.
Refer to Esconet Technologies IPO RHP for detailed information.
Esconet Technologies IPO Details
| IPO Date | February 16, 2024 to February 20, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹84 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,360,000 shares (aggregating up to ₹28.22 Cr) |
| Fresh Issue | 3,360,000 shares (aggregating up to ₹28.22 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,000,000 |
| Share holding post issue | 12,360,000 |
| Market Maker portion | 176,000 shares Ss Corporate Securities |
Esconet Technologies IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not more than 50.00% of the Net offer |
| Retail Shares Offered | Not less than 35.00% of the Offer |
| NII (HNI) Shares Offered | Not less than 15.00% of the Offer |
Esconet Technologies IPO Anchor Investors Details
Esconet Technologies IPO raises Rs 8.01 crore from anchor investors. Esconet Technologies IPO Anchor bid date is February 15, 2024.
| Bid Date | February 15, 2024 |
| Shares Offered | 953,600 |
| Anchor Portion Size (In Cr.) | 8.01 |
| Anchor lock-in period end date for 50% shares (30 Days) | March 22, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | May 21, 2024 |
Esconet Technologies IPO Timeline (Tentative Schedule)
Esconet Technologies IPO opens on February 16, 2024, and closes on February 20, 2024.
| IPO Open Date | Friday, February 16, 2024 |
| IPO Close Date | Tuesday, February 20, 2024 |
| Basis of Allotment | Wednesday, February 21, 2024 |
| Initiation of Refunds | Thursday, February 22, 2024 |
| Credit of Shares to Demat | Thursday, February 22, 2024 |
| Listing Date | Friday, February 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 20, 2024 |
Esconet Technologies IPO Lot Size
Investors can bid for a minimum of 1600 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 | 1600 | ₹134,400 |
| Retail (Max) | 1 | 1600 | ₹134,400 |
| HNI (Min) | 2 | 3,200 | ₹268,800 |
| Lot Size Calculator | |||
Esconet Technologies IPO Promoter Holding
Mr. Santosh Kumar Agrawal and Mr. Sunil Kumar Agrawal are the promoters of the company.
| Share Holding Pre Issue | 89.18% |
| Share Holding Post Issue | 64.94% |
About Esconet Technologies Limited
Founded in 2012, Esconet Technologies Limited provides high-end supercomputing solutions, and data center facilities that include storage servers, network security, virtualization, and data protection.
The company offers Servers and Graphics Workstations, Comprehensive Data Storage Solutions, Virtualization Software, Backup and Disaster Recovery Solutions, Data Centre and Access Networks, Advanced Software Defined Networks, Network Security Tools, Email Communication Systems, Databases with High Availability, and Log Management and Analytics Software.
The company also provides service and after-sales services which include IT Hardware Installation & Configuration, Deployment and Seamless Integration of Diverse IT Infrastructure Software, Infrastructure Management & Monitoring, Expertise in Private Cloud Setup and Management, Annual Maintenance Services, Managed Backup and Disaster Recovery Solutions, Data Migration Services, and Expert Consulting Services.
The company also offers cloud-based services through its subsidiary ZeaCloud Services catering to various business needs, e.g. disaster recovery services, managed cloud services, private cloud, and DaaS services.
Esconet’s clients 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 and Hindustan National Glass & Industries Limited and many more.
As at November 30, 2023, the company had over 47 employees.
Esconet Technologies Limited Financial Information (Restated Consolidated)
| Period Ended | 30 Sep 2023 | 31 Mar 2023 |
| Assets | 4,260.46 | 2,798.37 |
| Revenue | 7,146.71 | 9,690.84 |
| Profit After Tax | 305.47 | 304.00 |
| Net Worth | 902.97 | 554.47 |
| Reserves and Surplus | 825.19 | 477.48 |
| Total Borrowing | 1,008.95 | 1,103.89 |
| Amount in ₹ Lakhs | ||
Key Performance Indicator
The market capitalization of Esconet Technologies IPO is Rs 103.82 Cr.
| KPI | Values |
|---|---|
| ROE | 75.54% |
| ROCE | 59.11% |
| Debt/Equity | 1.99 |
| RoNW | 54.83% |
| P/BV | 1.16 |
Check Esconet Technologies IPO Peer Comparison here.
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 39.63 | 4.94 |
| P/E (x) | 24.87 | 16.99 |
Note:
- The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
- The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of September 30, 2023 that is available in RHP.
Objects of the Issue (Esconet Technologies IPO Objectives)
The company intends to utilize the Net Fresh Issue Proceeds for the following Objects:
- The working capital requirement of the company,
- Investment in Wholly Owned Subsidiary, viz. Zeacloud Services Private Limited, to fund its capital expenditure expenses, and
- General Corporate Expenses.
Esconet Technologies Limited Contact Details
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 Registrar
Skyline Financial Services Private Ltd
Phone: 02228511022
Email: ipo@skylinerta.com
Website: https://www.skylinerta.com/ipo.php