Systango Technologies IPO opens on March 2; check price band & other details
Systango Technologies is engaged in the business of providing software solutions, including offerings like to design, implement and manage their own customized digital platforms
- Mar 1, 2023,
- Updated Mar 1, 2023 3:28 PM IST
Systango Technologies' initial public offering (IPO) is set to hit Dalal Street on Thursday, March 2, 2023. The company is looking to raise Rs 34.82 crore from its SME offering by selling its shares in the range of Rs 85-90 apiece.
The issue of Systango Technologies is entirely a fresh issue of up to Rs 38,68,800 equity shares with a face value of Rs 10 each and can be subscribed till Monday, March 6, 2023. The company is likely to debut on NSE SME platform on March 15, 2023.
Systango Technologies aims to utilize the net proceeds from the issue for strategic investment and acquisitions, investment in subsidiaries, working capital requirements and general corporate purposes, the company said in its prospectus.
Incorporated in 2004, Systango Technologies is engaged in the business of providing software solutions, including offerings such as designing, implementing and managing their own customized digital platforms. Platforms designed by it include Web2, Web3, and mobile applications with a strong emphasis on data and analytics.
Systango Technologies has fixed its lot size at 1,600 equity shares, with each lot costing Rs 1.44 lakh. A retail bidder can apply for only one lot, whereas HNI investors can apply for 2 lots or 3,200 equity shares amounting to Rs 2.88 lakh.
Indore-headquartered Systango Technologies offers its services across various sectors like Hospitality, Property Tech, Financial Services (FinTech), Fantasy Sports, and many others. It has evolved as a professional and technical service provider over the years of its operations.
The company has reserved 50 per cent of the equity shares for qualified institutional buyers, whereas 15 per cent shares are reserved for HNI investors. Retail bidders will get the remaining 35 per cent of the equity shares.
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Systango Technologies reported a net profit of Rs 5.72 crore with total revenue of Rs 23.01 crore for the period that ended on September 30, 2022. It clocked a net profit of Rs 6.77 crore with total revenue of 33.92 crore in the financial year ended March 2022.
Hem Securities is the sole book-running lead manager (BRLM) to the issue, whereas Bigshare Services has been appointed as the registrar to the issue.
Systango Technologies' initial public offering (IPO) is set to hit Dalal Street on Thursday, March 2, 2023. The company is looking to raise Rs 34.82 crore from its SME offering by selling its shares in the range of Rs 85-90 apiece.
The issue of Systango Technologies is entirely a fresh issue of up to Rs 38,68,800 equity shares with a face value of Rs 10 each and can be subscribed till Monday, March 6, 2023. The company is likely to debut on NSE SME platform on March 15, 2023.
Systango Technologies aims to utilize the net proceeds from the issue for strategic investment and acquisitions, investment in subsidiaries, working capital requirements and general corporate purposes, the company said in its prospectus.
Incorporated in 2004, Systango Technologies is engaged in the business of providing software solutions, including offerings such as designing, implementing and managing their own customized digital platforms. Platforms designed by it include Web2, Web3, and mobile applications with a strong emphasis on data and analytics.
Systango Technologies has fixed its lot size at 1,600 equity shares, with each lot costing Rs 1.44 lakh. A retail bidder can apply for only one lot, whereas HNI investors can apply for 2 lots or 3,200 equity shares amounting to Rs 2.88 lakh.
Indore-headquartered Systango Technologies offers its services across various sectors like Hospitality, Property Tech, Financial Services (FinTech), Fantasy Sports, and many others. It has evolved as a professional and technical service provider over the years of its operations.
The company has reserved 50 per cent of the equity shares for qualified institutional buyers, whereas 15 per cent shares are reserved for HNI investors. Retail bidders will get the remaining 35 per cent of the equity shares.
Also Read: YES Bank, JSW Steel, Ultratech Cement: What should be your strategy amid Q3 results
Also Read: Divgi Torqtransfer Systems IPO opens today: Should you subscribe to it?
Systango Technologies reported a net profit of Rs 5.72 crore with total revenue of Rs 23.01 crore for the period that ended on September 30, 2022. It clocked a net profit of Rs 6.77 crore with total revenue of 33.92 crore in the financial year ended March 2022.
Hem Securities is the sole book-running lead manager (BRLM) to the issue, whereas Bigshare Services has been appointed as the registrar to the issue.