Incorporated in 2020, “Sahana System Limited” is engaged in the business of offering IT-related services. These include services like web app development, mobile application development, AI & ML development, ChatBot development, and product prototyping
Further, the company also offers graphics designing, UI / UX design, SEO & ASO, digital marketing, website & application migration, cyber security, and outsourcing of IT services.
Sahana System has been certified as CMMI Maturity Level – 3 in E-Commerce department by Equalitas Certifications Limited. They also have received ISO 9001:2015 and ISO/IEC 27001:2013 accreditation from Equalitas Certifications Limited.
The Company is recognized as a start-up by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry. The recognition certificate is valid for 10 years from the date of incorporation of the Company.
Sahana System IPO Details
| IPO Date | May 31, 2023 to Jun 2, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹132 to ₹135 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 2,425,000 shares (aggregating up to ₹32.74 Cr) |
| Fresh Issue | 2,425,000 shares (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,571,493 |
| Share holding post issue | 7,996,493 |
| Market Maker portion | 125,000 shares (Rikhav Securities) |
Sahana System IPO Reservation
| QIB Shares Offered | Not more than 10% of the Net offer |
| NII (HNI) Shares Offered | Not less than 45% of the Offer |
| Retail Shares Offered | Not less than 45% of the Offer |
Note:
- Market Maker portion of 125,000 equity shares is added to NII Reservation.
- Total Shares offered: QIB+NII+RII.
Sahana System IPO Timetable (Tentative)
Sahana System IPO opens on May 31, 2023, and closes on Jun 2, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Wednesday, 31 May 2023 |
| Closing Date | Friday, 2 June 2023 |
| Basis of Allotment | Wednesday, 7 June 2023 |
| Initiation of Refunds | Thursday, 8 June 2023 |
| Credit of Shares to Demat | Friday, 9 June 2023 |
| Listing Date | Monday, 12 June 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jun 2, 2023 |
Sahana System IPO Lot Size
The Sahana System IPO lot size is 1000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1000 | ₹135,000 |
| Retail (Max) | 1 | 1000 | ₹135,000 |
| HNI (Min) | 2 | 2,000 | ₹270,000 |
| Lot Size Calculator |
Sahana System IPO Promoter Holding
Pratik Kakadia is the Promoter of the company.
| Pre Issue Share Holding | 90.25% |
| Post Issue Share Holding |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 772.93 | 331.47 | 16.44 | 17.44 | 16.44 | 723.25 |
| 31-Mar-22 | 1,498.91 | 1,217.39 | 141.18 | 452.06 | 142.53 | 512.59 |
| 31-Mar-23 | 2,417.82 | 2,414.23 | 639.64 | 1,079.71 | 522.56 | 477.04 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 16.88 |
| Market Cap (₹ Cr.) | 107.95 |
| ROE | 83.52 |
| ROCE | 61.05 |
| Debt/Equity | 0.44 |
| EPS (Rs) | 11.48 |
| RoNW (%) | 59.24 |
Check Sahana System IPO Peer Comparison here.
Objects of the Issue
The company intends to utilize the proceeds of the issue to meet the following objects:
- To meet the working capital requirements
- Installation of EV charging Station
- General Corporate Purposes
- To meet the issue expenses
Sahana System IPO Review (Avoid)
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many players around. The sudden boost in its bottom line for FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears fully priced. The small equity capital post-IPO indicates a longer gestation period for migration to the mainboard. There is no harm in skipping this issue. Read detail review…
Sahana System IPO Prospectus
Company Contact Information
Sahana System Limited
901-A-Block, Mondeal Square,
Nr. Iscon Elegance, S.G. Highway,
Prahladnagar Ahmedabad – 380015
Phone: +91 79 4601 4490
Email: cs@sahanasystem.com
Website: http://www.sahanasystem.com/
Sahana System IPO Registrar
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: http://www.purvashare.com