Incorporated in 2016, Silicon Rentals Solutions Limited is an IT equipment outsourcing company, engaged in providing end-to-end IT equipment on a rental and returnable basis in India. The company provides laptops, desktops, printers, servers and other peripherals like CCTV cameras, projectors, storage devices, etc., mainly to small, medium and large corporate.
The company supports enterprises by providing them with the required IT products and equipment of major brands for a short period ranging from 1 day to a longer period up to 36 months based on the customer requirements.
The company provides IT renting services to the client base present in almost 16 states and 3 Union Territories across India. Silicon Rentals Solutions also has a trained and dedicated team of engineers who are capable of providing the support and maintenance of the hired equipment.
The company has a registered office located in Mumbai and Branch offices in Pune, New Delhi and Kolkata.
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Reserves and Surplus |
|---|---|---|---|---|
| 31-Mar-20 | 1762.25 | 1227.85 | 215.5 | 581.54 |
| 31-Mar-21 | 2236.45 | 1375.65 | 270.39 | 851.93 |
| 31-Mar-22 | 4172.4 | 2467.91 | 746.54 | 1598.47 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intend to utilize the proceeds of the Issue to meet the following objects: –
1. To meet Capital Expenditure requirements relating to IT equipment
2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the Company
3. General Corporate Purpose
4. Issue expenses
Silicon Rental Solutions IPO Details
| Silicon Rental Solutions IPO Date | Sep 28, 2022 to Sep 30, 2022 |
| Silicon Rental Solutions IPO Face Value | ₹10 per share |
| Silicon Rental Solutions IPO Price | ₹78 per share |
| Silicon Rental Solutions IPO Lot Size | 1600 Shares |
| Issue Size | 2,712,000 shares of ₹10 (aggregating up to ₹21.15 Cr) |
| Fresh Issue | 2,712,000 shares of ₹10 (aggregating up to ₹21.15 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| NII (HNI) Shares Offered | 50% of the net offer |
| Retail Shares Offered | 50% of the net offer |
| Company Promoters | Sanjay Harish Motiani, Kanchan Sanjay Motiani, Anushka Sanjay Motiani and Nikhil Sanjay Motiani are the company promoters. |
Silicon Rental Solutions IPO Timeline
Silicon Rental Solutions IPO opens on Sep 28, 2022, and closes on Sep 30, 2022. The Silicon Rental Solutions IPO bid date is from Sep 28, 2022 10.00 A.M. to Sep 30, 2022 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Date |
|---|---|
| Silicon Rental Solutions IPO Opening Date | Sep 28, 2022 |
| Silicon Rental Solutions IPO Closing Date | Sep 30, 2022 |
| Basis of Allotment | Oct 6, 2022 |
| Initiation of Refunds | Oct 7, 2022 |
| Credit of Shares to Demat | Oct 10, 2022 |
| Silicon Rental Solutions IPO Listing Date | Oct 11, 2022 |
Silicon Rental Solutions IPO Lot Size
The Silicon Rental Solutions IPO lot size is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹124,800).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1600 | ₹124,800 |
| Retail (Max) | 1 | 1600 | ₹124,800 |
Silicon Rental Solutions IPO Promoter Holding
| Pre Issue Share Holding | 99.79% |
| Post Issue Share Holding |
Silicon Rental Solutions IPO Review
SRSL is operating in a highly competitive segment. Based on FY22 super earnings, the issue appears fully priced. Higher spending for IPO raises concerns. Risk seeker/cash surplus Investors may consider an investment with a medium to long-term perspective. Read detail review…
Silicon Rental Solutions IPO Prospectus
Company Contact Information
Silicon Rental Solutions Limited
5, Mohini Heights, Ground Floor,
Plot No. 579/580, 5th Road,
Khar (West), Mumbai, 400052
Phone: +91-22-2605-1930
Email: cs@silicongroup1.com
Website: http://www.silicongroup1.com/
Silicon Rental Solutions IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com