Incorporated in 2016, Sancode Technologies Limited develops API-based software platforms and solutions.
The company provides easy-to-implement pre-built business logic and solution workflows for clients in digital transformation, workflow automation, Artificial intelligence (AI), Machine learning (ML), Robotic Process Automation (RPA), and Data Analytics, Metaverse, and Web3 applications, System Integration areas.
Sancode Technologies undertakes offshore software development projects, digital transformation, cloud migration, advance analytics, Robotic process automation, machine learning, and AI projects including those in emerging niche segments like Internet and Intranet website applications, enterprise solutions software, resource planning, e-commerce, value-added products and other business applications for corporations across the globe.
The company’s customer base sits majorly in the United States of America which includes clients from manufacturing, FMCG, banks and financial institutions, retail, and real estate.
Sancode Technologies IPO Details
| IPO Date | Mar 31, 2023 to Apr 6, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹47 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,095,000 shares (aggregating up to ₹5.15 Cr) |
| Fresh Issue | 1,095,000 shares (aggregating up to ₹5.15 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
Sancode Technologies IPO Reservation
| Other Shares Offered | 0 (0.00%) |
| Other Shares Offered | 519,000 (50.00%) |
| Retail Shares Offered | 519,000 (50.00%) |
| Market Maker portion | 57,000 shares (SHRENI SHARES PRIVATE LIMITED) |
| Total Shares Offered | 1,038,000 |
Sancode Technologies IPO Tentative Timetable
Sancode Technologies IPO opens on Mar 31, 2023, and closes on Apr 6, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Mar 31, 2023 |
| Closing Date | Apr 6, 2023 |
| Basis of Allotment | Apr 12, 2023 |
| Initiation of Refunds | Apr 13, 2023 |
| Credit of Shares to Demat | Apr 17, 2023 |
| Listing Date | Apr 18, 2023 |
| UPI Mandate Confirmation Cut-Off Time | 5.00 PM on the issue closing day |
Sancode Technologies IPO Lot Size
The Sancode Technologies IPO lot size is 3000 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 3000 | ₹141,000 |
| Retail (Max) | 1 | 3000 | ₹141,000 |
| HNI (Min) | 2 | 6,000 | ₹282,000 |
| Lot Size Calculator |
Sancode Technologies IPO Promoter Holding
Amit Vijay Jain, Khushboo Jain, Mihir Deepak Vora, and ZNL Startup Accelerator LLP are the company promoters.
| Pre Issue Share Holding | 97.47% |
| Post Issue Share Holding | 71.24% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 330.45 | 43.08 | -112.98 | 220.83 | 197.95 | 0.22 |
| 31-Mar-21 | 313.96 | 159.74 | -26.17 | 223.56 | 200.69 | 63.73 |
| 31-Mar-22 | 349.87 | 244.81 | 75.12 | 287.07 | 264.19 | 20.76 |
| 30-Sep-22 | 481.26 | 180.62 | 89.36 | 367.54 | 344.67 | 21.20 |
| Amount in ₹ Lakhs |
Objects of the Issue
The proceeds from the issue will be used for the following objects:
1. Funding working capital requirements.
2. General corporate purposes.
Sancode Technologies IPO Review (Avoid)
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big players around. The sudden boost in its bottom line for H1 FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears fully priced, while based on its track records, it appears aggressively priced. Tiny equity capital post-IPO indicates longer gestation period for migration to the mainboard. There is no harm in skipping this pricey issue. Read detail review…
Sancode Technologies IPO Subscription Status (Bidding Detail)
The Sancode Technologies IPO is subscribed 0.09 times on Mar 31, 2023 7:02:00 PM. The public issue subscribed 0.17 times in the retail category, times in the QIB category, and 0.00 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 0.00 |
| Retail | 0.17 |
| Total | 0.09 |
Total Application : 39 (0.23 times)
Sancode Technologies IPO Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 10.71 |
| Market Cap (₹ Cr.) | 19.12 |
Sancode Technologies IPO Prospectus
Company Contact Information
Sancode Technologies Limited
107, Prime Plaza,
J.V. Patel Compound, B.M. Road,
Opp. Elphinstone Stn. Mumbai – 400013
Phone: 022-49622853
Email: investor@sancodetech.com
Website: https://www.sancodetech.com/
Sancode Technologies IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/