Sahana System was incorporated on February 20, 2020. The company is engaged in the business of offering IT-related services including web app development, mobile application development, AI & ML development, ChatBot development, product prototyping, graphics designing, UI / UX design, SEO & ASO, digital marketing, website & application migration, cyber security and outsourcing of IT services.
| Bidding Dates |
|---|
| 31 May 2023 - 02 Jun 2023 |
| Subscription |
|---|
| 9.53x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,35,000 | 1 | 1 | 1000 | 2.4 M | ₹132 - ₹135 | 69.67 % | ₹320.1 M - ₹327.4 M | RHP DOC |
Sahana System IPO SUBSCRIPTION STATUS
02 Jun '23Sahana System IPO overall subscription rate was 9.53 times the total available shares
Sahana System IPO retail subscription rate was 12.31 times in the retail segment
Sahana System IPO non-institutional investor subscription rate was 6.82 times in the non-institutional investor category
Sahana System IPO Qualified Institutional Bidder subscription rate was 9.2 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 45% | 45% | 10% |
02 Jun 2023 (Day 3) | 12.31x | 6.82x | 9.2x |
01 Jun 2023 (Day 2) | 2.95x | 2.76x | 1.1x |
31 May 2023 (Day 1) | 0.83x | 1.57x | 0.15x |
Sahana System 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) |
| FY23 | 64.0 | 241.4 | 12.7 | 10.1 |
| FY22 | 14.1 | 121.7 | 0.3 | -2.9 |
| FY21 | 1.6 | 33.1 | -6.4 | -6.4 |
Sahana System IPO SUBSCRIPTION STATUS DETAILS
Sahana System had 2.4 M shares on offer
Sahana System IPO offer price was in the range ₹132 - ₹135
Sahana System IPO minimum Investment was ₹135000
Sahana System IPO issue size was ₹ 320.1 M - ₹ 327.4 M
Sahana System had a minimum lot size of 1000 Shares per application
Sahana System NUMBER OF SHARES ON OFFER
Sahana System IPO IMPORTANT DATES
| Issue Open Date | 31 May 2023 |
| Issue close Date | 02 Jun 2023 |
| Allotment Date | 07 Jun 2023 |
| Refund Date | 08 Jun 2023 |
| Demat Account Credit Date | 09 Jun 2023 |
| Listing Date | 12 Jun 2023 |
| Listing on Exchange(s) | NSE |
| Sahana System Allotment Status | Exchange |
Sahana System IPO subscription opened on 31 May 2023, and closed on 02 Jun 2023
IPO allotment for Sahana System was finalized on Wednesday, 07 Jun 2023
IPO listing for Sahana System was on NSE on Monday, 12 Jun 2023
Sahana System IPO LISTING GAINS
| Issue Price (adjusted) | 112.5 |
| Listing Open Price | 163.0 |
| Listing Close Price | 171.2 |
| Listing Gain% | 20.7% |
| Current Gain% | 617.7% |
Sahana System 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sahana System Ltd. | 807.4 | 645.7 | 12.6 | 0.3 | 1.9 | 26.9 | 17.6 | 337.9 | 99.6 | 67.9 | 91.4 | 64 | 44.3 |
| Tata Consultancy Services Ltd. | 2425.7 | 877639.5 | 17.6 | 16.5 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1183 | 480068.1 | 15.9 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1357.2 | 368298.6 | 21.1 | 8 | 2.7 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 185.5 | 183726.5 | 13.9 | -7.7 | 1.9 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1640 | 160733.9 | 31.3 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Sahana System INFORMATION ON IPO ISSUE
About Sahana System
Sahana System was incorporated on February 20, 2020. The company is engaged in the business of offering IT-related services including web app development, mobile application development, AI & ML development, ChatBot development, product prototyping, graphics designing, UI / UX design, SEO & ASO, digital marketing, website & application migration, cyber security and outsourcing of IT services.
Object of the Issue
- To meet the working capital requirements
- Installation of electric vehilcles charging Station
- General corporate purposes
- To meet the issue expenses
Sahana System - PROMOTERS
| Name |
|---|
| Pratik Kakadia |
Sahana System Lead Manager to the Issue
Unistone Capital Private Limited
mb@unistonecapital.com
Sahana System Lead Manager of the Issue
Interactive Financial Services
mbd@ifinservices.in
Sahana System Registrar to the issue
Purva Sharegistry (India) Private Limited
support@purvashare.com
Sahana System Strengths
End-to-end IT services
The company offers comprehensive IT services to customers, providing support for their software applications and assisting them throughout the entire business life cycle
Quality of services
The company has obtained certifications for "CMMI Maturity Level 3, ISO 9001, and ISO/IEC 27001," acknowledging its expertise in designing and developing application software, web applications, and managed IT services
Sahana System Risks
Legal proceedings
There are ongoing legal proceedings involving the company, its promoters, and directors, and an unfavorable outcome could have a negative impact on the business
Limited operating history
Due to the company's limited operating history, investors may face challenges in evaluating the company's prospects based on historical results
IPO FAQs
Sahana Systems Ltd. IPO listing opened at Rs 163.00 while the issue price was Rs 135.00 giving 20.74% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 112.50 giving 617.73% gains since its IPO listing.
The promoter of the company is Pratik Kakadia.
The category allocation of qualified institutional buyers is 10.0%, the category allocation of non individual investors or high networth individuals is 45.0% and for retail investors it is 45.0%.
The price band of the IPO is Rs 132.0 - 135.0.
The IPO application opens on May 31, 2023 and closes on Jun 02, 2023.
The minimum lot size for the IPO is 1000. The maximum lot size for the IPO is 1000.
For all category investors, the minimum application amount for this IPO is Rs. 135,000.0, the maximum value for this IPO is Rs 135,000.0.
This IPO will be allotted on Jun 07, 2023.
The refund will be credited to your account on Jun 08, 2023.
The allotted shares will be credited to your demat on Jun 09, 2023.
Sahana Systems Ltd.’s shares listed on the stock exchanges on Jun 12, 2023.