Micropro Software Solutions IPO is a fixed price issue of Rs 30.70 crores. The issue is entirely a fresh issue of 37.9 lakh shares.
Micropro Software Solutions IPO opens for subscription on November 3, 2023 and closes on November 7, 2023. The allotment for the Micropro Software Solutions IPO is expected to be finalized on Friday, November 10, 2023. Micropro Software Solutions IPO will list on NSE SME with tentative listing date fixed as Thursday, November 16, 2023.
Micropro Software Solutions IPO price is ₹81 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹129,600. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹259,200.
Swaraj shares and securities private limited is the book running lead manager of the Micropro Software Solutions IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Micropro Software Solutions IPO is Nikunj Stock Brokers.
Refer to Micropro Software Solutions IPO RHP for detailed information.
Micropro Software Solutions IPO Details
| IPO Date | November 3, 2023 to November 7, 2023 |
| Listing Date | [16 NOVEMBER 2023.] |
| Face Value | ₹10 per share |
| Price | ₹81 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,790,400 shares (aggregating up to ₹30.70 Cr) |
| Fresh Issue | 3,790,400 shares (aggregating up to ₹30.70 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 10,509,000 |
| Share holding post issue | 14,299,400 |
| Market Maker portion | 190,400 shares Nikunj Stock Brokers |
Micropro Software Solutions IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| Retail Shares Offered | 50% of the Net issue |
| Other Shares Offered | 50% of the Net issue |
Micropro Software Solutions IPO Timeline (Tentative Schedule)
Micropro Software Solutions IPO opens on November 3, 2023, and closes on November 7, 2023.
| IPO Open Date | Friday, November 3, 2023 |
| IPO Close Date | Tuesday, November 7, 2023 |
| Basis of Allotment | Friday, November 10, 2023 |
| Initiation of Refunds | Monday, November 13, 2023 |
| Credit of Shares to Demat | Wednesday, November 15, 2023 |
| Listing Date | Thursday, November 16, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on November 7, 2023 |
Micropro Software Solutions 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 | ₹129,600 |
| Retail (Max) | 1 | 1600 | ₹129,600 |
| HNI (Min) | 2 | 3,200 | ₹259,200 |
| Lot Size Calculator |
Micropro Software Solutions IPO Promoter Holding
The promoters of the company are Mr Sanjay Yadavrao Mokashi, Mr Hitesh Dhirajlal Parikh, Mr Prashant Renukadas Rajurkar, Mrs Meenakshi Sanjay Mokashi, Mrs Shefali Hitesh Parikh, and Mrs Swati Prashant Rajurkar.
| Share Holding Pre Issue | 63.40% |
| Share Holding Post Issue | 46.59% |
About Micropro Software Solutions Limited
Incorporated in 1988, Micropro is an IT service company engaged in the business of Software Development, Data Processing, and Software Training. The company’s tech team comprises more than 150 professionals. The company serves over 4000 customers catering to countries like India, USA, UAE and Africa. The company also provides software solutions for the government sector, PSU’s and corporate clients. Micropro is an ISO 90001:2015 company which designs software solutions across various industry verticals.
The company provides following services such as:-
- IT Infrastructure Management Services.
- Server Management.
- Virtualization Services.
- Storage and Backup Management.
- Network Management.
- Security Management.
- Database Management.
- Middleware Administration.
- Data Centre Operations Management.
Micropro Software Solutions Limited Financial Information (Restated)
Micropro Software Solutions Limited’s revenue increased by 26.32% and profit after tax (PAT) rose by 121.69% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 May 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,411.30 | 2,559.57 | 2,048.58 | 1,547.57 |
| Revenue | 275.95 | 2,217.20 | 1,755.17 | 1,392.48 |
| Profit After Tax | 47.65 | 592.23 | 267.14 | 129.51 |
| Net Worth | 1,648.21 | 1,055.98 | 788.84 | |
| Reserves and Surplus | 1,670.86 | 1,623.21 | 1,030.98 | 763.84 |
| Total Borrowing | 338.03 | 397.97 | 592.05 | 437.81 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 0.34 |
| ROE | 44% |
| ROCE | 41% |
| Debt/Equity | 0.13 |
| EPS (Rs) | 5.78 |
| RoNW | 35.93% |
Check Micropro Software Solutions IPO Peer Comparison here.
Objects of the Issue (Micropro Software Solutions IPO Objectives)
The Company proposes to utilize the funds being raised through this Issue towards the below-mentioned objects and gain benefits of listing on the Stock Exchange.
1. Working capital requirements;
2. Funding capital expenditure requirements;
3. General Corporate purposes
Micropro Software Solutions IPO Review (Avoid)
[Dilip Davda] The company is engaged in software developments and IT solution services. It has posted growth in its top lines for the reported periods till FY23. The sudden boost in its bottom line for FY23 appears to be a window dressing to pave the way for fancy valuations. Based on FY24 annualized earnings, the issue is aggressively priced. There is no harm in skipping this pricey and dicey bet. Read detail review…
Micropro Software Solutions Limited Contact Details
Micropro Software Solutions Limited
Plot No. 28, 702, Wing A
7th Floor, IT Park,
Gayatri Nagar, Nagpur-440022,
Phone: +91-9373693405
Email: compliance@microproindia.com
Website: http://www.microproindia.com/
Micropro Software Solutions IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/queries/