Synoptics Technologies was established on October 15, 2008. It is an IT services company specializing in providing solutions in the field of IT infrastructure. The company offers services related to connectivity for branch offices, as well as the supply, implementation, and support of network equipment such as routers, switches, and other necessary components for running an efficient IT system.
| Bidding Dates |
|---|
| 30 Jun 2023 - 05 Jul 2023 |
| Subscription |
|---|
| 2.48x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,42,200 | 1 | 1 | 600 | 2.3 M | ₹237 | 82.55 % | ₹540.4 M | RHP DOC |
Synoptics Tech IPO SUBSCRIPTION STATUS
05 Jul '23Synoptics Tech IPO overall subscription rate was 2.48 times the total available shares
Synoptics Tech IPO retail subscription rate was 2.41 times in the retail segment
Synoptics Tech IPO non-institutional investor subscription rate was 2.56 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
05 Jul 2023 (Day 4) | 2.41x | 2.56x | - |
04 Jul 2023 (Day 3) | 0.95x | 2.13x | - |
03 Jul 2023 (Day 2) | 0.47x | 0.42x | - |
30 Jun 2023 (Day 1) | 0.18x | 0.21x | - |
Synoptics 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 |
| 9MFY23 | 52.5 | 346.5 | 8.6 | -6.5 | 26.7% |
| FY22 | 43.2 | 509.2 | 82.4 | 27.2 | 21.5% |
| FY21 | 23.6 | 347.6 | 27.4 | -0.9 | 22.6% |
| FY20 | 18.2 | 220.8 | 12.2 | -8.6 | 28.7% |
Synoptics Tech IPO SUBSCRIPTION STATUS DETAILS
Synoptics Tech had 2.3 M shares on offer
Synoptics Tech IPO offer price was ₹237
Synoptics Tech IPO minimum Investment was ₹142200
Synoptics Tech IPO issue size was ₹ 540.3 M
Synoptics Tech had a minimum lot size of 600 Shares per application
Synoptics Tech NUMBER OF SHARES ON OFFER
Synoptics Tech IPO IMPORTANT DATES
| Issue Open Date | 30 Jun 2023 |
| Issue close Date | 05 Jul 2023 |
| Allotment Date | 10 Jul 2023 |
| Refund Date | 11 Jul 2023 |
| Demat Account Credit Date | 12 Jul 2023 |
| Listing Date | 13 Jul 2023 |
| Listing on Exchange(s) | NSE |
| Synoptics Tech Allotment Status | Exchange |
Synoptics Tech IPO subscription opened on 30 Jun 2023, and closed on 05 Jul 2023
IPO allotment for Synoptics Tech was finalized on Monday, 10 Jul 2023
IPO listing for Synoptics Tech was on NSE on Thursday, 13 Jul 2023
Synoptics Tech IPO LISTING GAINS
| Issue Price (adjusted) | 237.0 |
| Listing Open Price | 238.0 |
| Listing Close Price | 226.1 |
| Listing Gain% | 0.4% |
| Current Gain% | -70.0% |
Synoptics 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Synoptics Technologies Ltd. | 71 | 60.2 | 14.7 | 11.5 | 1 | 5.5 | 3.4 | 57.9 | 33.4 | 4.1 | 1.3 | 4.8 | 1.3 |
| Tata Consultancy Services Ltd. | 2452.7 | 887408.3 | 17.8 | 16.7 | 3.2 | 45.9 | 27 | 271423 | 4.7 | 49210 | 1.4 | 137.6 | 1.1 |
| Infosys Ltd. | 1175.1 | 476862.2 | 15.7 | 1.4 | 2.6 | 31.7 | 18.9 | 182972 | 9.8 | 29440 | 10.2 | 74.6 | 11.1 |
| HCL Technologies Ltd. | 1356.6 | 368135.8 | 21.1 | 8 | 2.7 | 22.1 | 14.3 | 131674 | 10.2 | 16642 | -4.3 | 64.2 | 2.6 |
| Wipro Ltd. | 187.5 | 185737.1 | 14.1 | -7.8 | 2 | 15 | 9.3 | 96497.7 | 3.8 | 13197.4 | 0.5 | 13.3 | -1.8 |
| Tech Mahindra Ltd. | 1635 | 160243.9 | 31.2 | 2.4 | 2.7 | 16.2 | 9.7 | 56847.3 | 5.6 | 4810.9 | 13.2 | 52.4 | 13.1 |
Synoptics Tech INFORMATION ON IPO ISSUE
About Synoptics Tech
Synoptics Technologies was established on October 15, 2008. It is an IT services company specializing in providing solutions in the field of IT infrastructure. The company offers services related to connectivity for branch offices, as well as the supply, implementation, and support of network equipment such as routers, switches, and other necessary components for running an efficient IT system.
Object of the Issue
- Repayment of certain borrowings
- Funding additional working capital requirements
- Investment in strategic acquisition/joint venture
- General corporate purposes
Synoptics Tech - PROMOTERS
| Name |
|---|
| Jagmohan Manilal Shah |
| Jatin Jagmohan Shah |
| Janvi Jatin |
Synoptics Tech Lead Manager of the Issue
First Overseas Capital Limited
mb@focl.in
Synoptics Tech Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
Synoptics Tech Strengths
Customized and integrated IT solutions
The company caters to a diverse customer base by offering a comprehensive range of IT solutions and services. It is dedicated to providing B2B customers with a combination of optimal functionality, value for money, unwavering commitment, and flexibility
Strong financial performance
The company has achieved a remarkable annual growth rate of 46.47% from fiscal year 2022 to fiscal year 2021, and an even higher growth rate of 57.36% from fiscal year 2021 to fiscal year 2020
Certifications, awards and accreditations
The company has been awarded various certifications and accreditations, which serve as a testament to the quality and timeliness of its services and products, providing assurance to domestic customers
Synoptics Tech Risks
Outstanding legal proceedings
The company is currently involved in certain ongoing legal proceedings, which include matters concerning the company, its promoters, directors, and group companies. The outcome of these proceedings may have an adverse impact on the business, financial condition, and operational results
Observations by statutory auditor
The Statutory Auditors of the company have made certain observations and included them in their reporting as per the requirements of the Companies (Auditor's Report) Order, 2016. These observations pertain to the audited consolidated financial statements of the company for the last three fiscal years and the stub period
IPO FAQs
This IPO consists of an offer for sale of up to Rs 19.0 crore, of 800,000 shares. It also consists of a fresh issue of Rs 35.1 crore.
The promoters of the company are Jagmohan Manilal Shah, Jatin Jagmohan Shah and Janvi Jatin.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 237.0 - 237.0.
The IPO application opens on Jun 30, 2023 and closes on Jul 05, 2023.
The minimum lot size for the IPO is 600. The maximum lot size for the IPO is 600.
For all category investors, the minimum application amount for this IPO is Rs. 142,200.0, the maximum value for this IPO is Rs 142,200.0.
This IPO will be allotted on Jul 10, 2023.
The refund will be credited to your account on Jul 11, 2023.
The allotted shares will be credited to your demat on Jul 12, 2023.
Synoptics Technologies Ltd.’s shares listed on the stock exchanges on Jul 13, 2023.