Incorporated in 2008, Synoptics Technologies Limited provides IT services and solutions.
The company offers solutions in the areas of IT Infrastructure like connectivity to the Branches, Supply, implementation, and support of the network equipment needed to run the IT setup like routers, switches, etc.
It designs solutions for customers who need to put their applications on Cloud, as well as application migration, and managing the setup in the cloud. IT Security solutions like firewall installation and management. Data Centre design and solution with newer technology to optimize the investment and use less space and power and with clearly defined outcomes.
Synoptics Technologies helps enterprises, small businesses, and the Government in their Digital journey with various use cases of specific industry verticals. Its B2B customer list includes TATA Communications Limited, BOB Financial Services, Blue Dart Express Limited, Lifestyle International Private Limited, Shoppers Stop Limited, Hennes & Mauritz Retail Private Limited (H&M), Fedbank Financial Services Limited, GIC Housing Finance Ltd, Motilal Oswal Financial Services Limited, Government of Gujarat, etc.
The company has recently signed an agreement with BSNL to become their authorized Private LTE / Private 5G service partner nationwide.
Synoptics currently operates across India with a team of 584 employees. The company is headquartered in Mumbai and has regional offices in 17 locations throughout India including Andhra Pradesh, Bihar, Chandigarh, Delhi, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Odisha, Punjab, Rajasthan, Telangana, Tamil Nadu, Uttar Pradesh, Uttarakhand, and West Bengal.
Synoptics Technologies IPO Details
| IPO Date | Jun 30, 2023 to Jul 5, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹237 per share |
| Lot Size | 600 Shares |
| Total Issue Size | 2,280,000 shares (aggregating up to ₹54.03 Cr) |
| Fresh Issue | 1,480,000 shares (aggregating up to ₹35.08 Cr) |
| Offer for Sale | 800,000 shares of ₹10 (aggregating up to ₹18.96 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 7,000,000 |
| Share holding post issue | 8,480,000 |
| Market Maker portion | 114,000 shares Nnm Securities |
Synoptics Technologies IPO Reservation
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 114,000 (5.00%) |
| Other Shares Offered | 1,083,000 (47.50%) |
| Retail Shares Offered | 1,083,000 (47.50%) |
| Total Shares Offered | 2,280,000 (100%) |
Synoptics Technologies IPO Timetable
Synoptics Technologies IPO opens on Jun 30, 2023, and closes on Jul 5, 2023.
| Event | Tentative Date |
|---|---|
| Opening Date | Friday, 30 June 2023 |
| Closing Date | Wednesday, 5 July 2023 |
| Basis of Allotment | Monday, 10 July 2023 |
| Initiation of Refunds | Tuesday, 11 July 2023 |
| Credit of Shares to Demat | Wednesday, 12 July 2023 |
| Listing Date | Thursday, 13 July 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on Jul 5, 2023 |
Synoptics Technologies IPO Lot Size
The Synoptics Technologies IPO lot size is 600 shares.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 600 | ₹142,200 |
| Retail (Max) | 1 | 600 | ₹142,200 |
| HNI (Min) | 2 | 1,200 | ₹284,400 |
| Lot Size Calculator |
Synoptics Technologies IPO Promoter Holding
The Promoters of the company are Mr. Jagmohan Manilal Shah, Mr. Jatin Jagmohan Shah, and Mrs. Janvi Jatin Shah.
| Pre Issue Share Holding | 100.00% |
| Post Issue Share Holding | 73.11% |
Company Financials
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 3,326.20 | 2,211.43 | 182.06 | 1,208.47 | 508.47 | 1,290.16 |
| 31-Mar-21 | 3,759.78 | 3,479.91 | 236.02 | 1,444.49 | 744.49 | 1,194.71 |
| 31-Mar-22 | 4,279.80 | 5,097.07 | 432.36 | 1,876.85 | 1,176.85 | 1,410.03 |
| 31-Dec-22 | 5,379.95 | 3,446.81 | 525.36 | 2,402.21 | 1,702.21 | 1,959.06 |
| Amount in ₹ Lakhs |
Key Performance Indicator
| KPI | Values |
|---|---|
| P/E (x) | 25.32 |
| Market Cap (₹ Cr.) | 200.98 |
| ROE | 21.87% |
| ROCE | 19.16% |
| Debt/Equity | 0.82 |
| EPS (Rs) | 4.65 |
| RoNW | 19.48% |
Check Synoptics Technologies IPO Peer Comparison here.
Objects of the Issue
The company intends to utilize the net proceeds from the issue towards the funding of the following objects:
- Repayment of certain Borrowings,
- Funding additional Working capital requirements,
- Investment in Strategic Acquisition / Joint Venture, and
- General Corporate Purposes.
Synoptics Technologies IPO Review (May apply)
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big players. The sudden boost in its bottom line for H1 FY23 raises eyebrows and concerns over sustainability in the future. 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. It has an order book worth Rs. 28 cr. as of May 31, 2023. Well-informed/cash surplus investors may consider investment for long-term rewards. Read detail review…
Synoptics Technologies IPO Subscription Status (Bidding Detail)
The Synoptics Technologies IPO is subscribed 2.66 times on Jul 5, 2023 7:29:00 PM. The public issue subscribed 2.54 times in the retail category, times in the QIB category, and 2.58 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 2.58 |
| Retail | 2.54 |
| Total | 2.66 |
Total Application : 4,586 (2.54 times)
Synoptics Technologies IPO Prospectus
Company Contact Information
Synoptics Technologies Limited
301, A-Wing, 3rd Floor,
Interface 16, Mindspace,
Malad (West), Mumbai – 400064
Phone: +91 22 4505 0000
Email: cs@synoptics.co.in
Website: https://synoptics.co.in/
Synoptics Technologies IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/