AccelerateBS India is a digital technology services company that provides a wide range of boutique technology services to global B2B and B2C companies. Their services encompass digital technology services, consulting and implementation services for digital experience platforms, digital projects, custom software development and consulting services, as well as the delivery of robust and scalable software systems.
| Bidding Dates |
|---|
| 06 Jul 2023 - 11 Jul 2023 |
| Subscription |
|---|
| 46.63x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,44,000 | 1 | 1 | 1600 | 632.0 K | ₹90 | 70.59 % | ₹56.9 M | RHP DOC |
AccelerateBS IPO SUBSCRIPTION STATUS
11 Jul '23AccelerateBS IPO overall subscription rate was 46.63 times the total available shares
AccelerateBS IPO retail subscription rate was 55.97 times in the retail segment
AccelerateBS IPO non-institutional investor subscription rate was 37.28 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
11 Jul 2023 (Day 4) | 55.97x | 37.28x | - |
10 Jul 2023 (Day 3) | 15.22x | 5.43x | - |
07 Jul 2023 (Day 2) | 4.32x | 3.23x | - |
06 Jul 2023 (Day 1) | 1.01x | 2.11x | - |
AccelerateBS 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 |
| 10MFY23 | 5.9 | 33.9 | 3.6 | 0.9 | - |
| FY22 | 2.6 | 35.2 | -0.4 | -0.5 | 13.5% |
| FY21 | 4.3 | 45.0 | 7.5 | 7.1 | 15.5% |
| FY20 | 6.8 | 48.5 | 8.9 | 8.6 | 22.6% |
AccelerateBS IPO SUBSCRIPTION STATUS DETAILS
AccelerateBS had 632.0 K shares on offer
AccelerateBS IPO offer price was ₹90
AccelerateBS IPO minimum Investment was ₹144000
AccelerateBS IPO issue size was ₹ 56.9 M
AccelerateBS had a minimum lot size of 1600 Shares per application
AccelerateBS NUMBER OF SHARES ON OFFER
AccelerateBS IPO IMPORTANT DATES
| Issue Open Date | 06 Jul 2023 |
| Issue close Date | 11 Jul 2023 |
| Allotment Date | 14 Jul 2023 |
| Refund Date | 17 Jul 2023 |
| Demat Account Credit Date | 18 Jul 2023 |
| Listing Date | 19 Jul 2023 |
| Listing on Exchange(s) | BSE |
| AccelerateBS Allotment Status | Exchange |
AccelerateBS IPO subscription opened on 06 Jul 2023, and closed on 11 Jul 2023
IPO allotment for AccelerateBS was finalized on Friday, 14 Jul 2023
IPO listing for AccelerateBS was on BSE on Wednesday, 19 Jul 2023
AccelerateBS IPO LISTING GAINS
| Issue Price (adjusted) | 56.3 |
| Listing Open Price | 109.5 |
| Listing Close Price | 115.0 |
| Listing Gain% | 21.7% |
| Current Gain% | 78.2% |
AccelerateBS 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AccelerateBS India Ltd. | 100.2 | 21.5 | 53.4 | 3 | 16.1 | 3.9 | 7.2 | 0.6 | 1.9 | ||||
| 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 |
AccelerateBS INFORMATION ON IPO ISSUE
About AccelerateBS
AccelerateBS India is a digital technology services company that provides a wide range of boutique technology services to global B2B and B2C companies. Their services encompass digital technology services, consulting and implementation services for digital experience platforms, digital projects, custom software development and consulting services, as well as the delivery of robust and scalable software systems.
Object of the Issue
- Long-term working capital requirements
- General corporate purposes
AccelerateBS - PROMOTERS
| Name |
|---|
| Kunal Arvind Shah |
| Keyur Dipakkumar Shah |
AccelerateBS Lead Manager of the Issue
Sherni Shares Limited
shrenishares@gmail.com
AccelerateBS Registrar to the issue
Bigshare Services Private Limited
ipo@bigshareonline.com
AccelerateBS Strengths
Established relationships with customers
The company's diverse product portfolio has enabled it to build robust relationships with key clients. It has successfully cultivated and remains committed to enhancing long-standing partnerships with renowned customers across diverse industries
Integrated technology platform
The company has expertise in Microsoft and Node technologies, specializing in new-age decoupled builds with API-first and microservices-based architectures. They also have in-house capabilities for front-end development using React, Angular, and Blazor
Specialty DXP platforms
The company has over a decade of experience in the DXP space, which has high entry barriers and a steep learning curve for building applications on top of them
AccelerateBS Risks
Dependent on one geographical location
The company's revenue heavily relies on customers in the United States. Any deterioration in economic conditions or factors that negatively impact the economy could significantly harm the business
Negative cash flows
The company has had negative cash flows in the past years. Sustained negative cash flow could impact the growth and business
Strong competition
The company faces fierce competition from both onshore and offshore IT services companies. If competition intensifies or the company fails to compete effectively against its competitors, it could have a significant negative impact on the business
IPO FAQs
AccelerateBS India Ltd. IPO listing opened at Rs 109.50 while the issue price was Rs 90.00 giving 21.67% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 56.25 giving 78.19% gains since its IPO listing.
This IPO consists of an offer for sale of up to Rs 4.0 crore, of 443,200 shares. It also consists of a fresh issue of Rs 1.7 crore.
The promoters of the company are Kunal Arvind Shah and Keyur Dipakkumar Shah.
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 90.0 - 90.0.
The IPO application opens on Jul 06, 2023 and closes on Jul 11, 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 Jul 14, 2023.
The refund will be credited to your account on Jul 17, 2023.
The allotted shares will be credited to your demat on Jul 18, 2023.
AccelerateBS India Ltd.’s shares listed on the stock exchanges on Jul 19, 2023.