Systango Technologies was incorporated on September 17, 2004, as Bushcare Overseas. It provides software solutions that enable companies to design, implement and manage customised digital platforms, including web2, web3 and mobile applications, with an emphasis on data and analytics.
| Bidding Dates |
|---|
| 02 Mar 2023 - 06 Mar 2023 |
| Subscription |
|---|
| 64.99x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,44,000 | 1 | 1 | 1600 | 3.9 M | ₹85 - ₹90 | 73.63 % | ₹328.8 M - ₹348.2 M | RHP DOC |
Systango Tech IPO SUBSCRIPTION STATUS
06 Mar '23Systango Tech IPO overall subscription rate was 64.99 times the total available shares
Systango Tech IPO retail subscription rate was 66.59 times in the retail segment
Systango Tech IPO non-institutional investor subscription rate was 230.36 times in the non-institutional investor category
Systango Tech IPO Qualified Institutional Bidder subscription rate was 14.1 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
06 Mar 2023 (Day 3) | 66.59x | 230.36x | 14.1x |
03 Mar 2023 (Day 2) | 12.1x | 3.75x | 0.41x |
02 Mar 2023 (Day 1) | 3.24x | 0.96x | 0x |
Systango Tech FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| H1FY23 | 43.6 | 223.9 | 35.1 | 28.8 | 28.7% |
| FY22 | 71.2 | 326.9 | 52.2 | 41.2 | 22.7% |
| FY21 | 59.6 | 229.9 | 72.6 | 70.3 | 27.3% |
| FY20 | 25.2 | 142.8 | 37.5 | 33.5 | 21.3% |
Systango Tech IPO SUBSCRIPTION STATUS DETAILS
Systango Tech had 3.9 M shares on offer
Systango Tech IPO offer price was in the range ₹85 - ₹90
Systango Tech IPO minimum Investment was ₹144000
Systango Tech IPO issue size was ₹ 328.8 M - ₹ 348.2 M
Systango Tech had a minimum lot size of 1600 Shares per application
Systango Tech NUMBER OF SHARES ON OFFER
Systango Tech IPO IMPORTANT DATES
| Issue Open Date | 02 Mar 2023 |
| Issue close Date | 06 Mar 2023 |
| Allotment Date | 10 Mar 2023 |
| Refund Date | 13 Mar 2023 |
| Demat Account Credit Date | 14 Mar 2023 |
| Listing Date | 15 Mar 2023 |
| Listing on Exchange(s) | NSE |
| Systango Tech Allotment Status | Exchange |
Systango Tech IPO subscription opened on 02 Mar 2023, and closed on 06 Mar 2023
IPO allotment for Systango Tech was finalized on Friday, 10 Mar 2023
IPO listing for Systango Tech was on NSE on Wednesday, 15 Mar 2023
Systango Tech IPO LISTING GAINS
| Issue Price (adjusted) | 90.0 |
| Listing Open Price | 98.0 |
| Listing Close Price | 102.9 |
| Listing Gain% | 8.9% |
| Current Gain% | 142.8% |
Systango Tech Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Systango Technologies Ltd | 218.5 | 320.5 | 10.1 | 0.3 | 3.3 | 23.5 | 21.2 | 96.3 | 30.2 | 31.9 | 34.3 | 21.7 | 34.3 |
| Tata Consultancy Services Ltd. | 2445.7 | 884875.7 | 17.8 | 16.6 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1190.7 | 483192.8 | 16 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1365.4 | 370523.8 | 21.3 | 8.1 | 2.8 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 184.6 | 182835.1 | 13.8 | -7.6 | 1.9 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1643 | 161027.9 | 31.4 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Systango Tech INFORMATION ON IPO ISSUE
About Systango Tech
Systango Technologies was incorporated on September 17, 2004, as Bushcare Overseas. It provides software solutions that enable companies to design, implement and manage customised digital platforms, including web2, web3 and mobile applications, with an emphasis on data and analytics.
Object of the Issue
- Strategic investment and acquisitions
- Investment in subsidiaries
- To meet working capital requirements
- General corporate purposes
- Issue expenses
Systango Tech - PROMOTERS
| Name |
|---|
| Vinita Rathi |
| Nilesh Rathi |
Systango Tech Lead Manager of the Issue
Hem Securities Limited
ib@hemsecurities.com
Systango Tech Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Systango Tech Strengths
Revenue from multiple geographies
The company has diversified revenue from multiple geographical locations across the world and most of it is derived from exports sales
Diversified client base
The company serves a diversified client base catering to various industries and sectors, including financial services, hospitality, travel and fantasy sports
End-to-end solutions and support
The company provides end-to-end IT services to support customers' software development and applications, starting from the entrepreneurial discovery process to providing support and maintenance services
Systango Tech Risks
Dependent on a few customers
The company depends on a few customers for most of its revenues. Further, it does not have any long-term commitments from these customers
Outstanding legal proceedings
There are certain outstanding legal proceedings involving the company. Any failure to defend these proceedings successfully may have an adverse effect on the business prospect
IPO FAQs
The promoters of the company are Vinita Rathi and Nilesh Rathi.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 85.0 - 90.0.
The IPO application opens on Mar 02, 2023 and closes on Mar 06, 2023.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 144,000.0, the maximum value for this IPO is Rs 144,000.0.
This IPO will be allotted on Mar 10, 2023.
The refund will be credited to your account on Mar 13, 2023.
The allotted shares will be credited to your demat on Mar 14, 2023.
Systango Technologies Ltd’s shares listed on the stock exchanges on Mar 15, 2023.