Canarys Automations was incorporated on July 1, 1991. Canarys is a leading IT solutions provider with over 30 years of experience in the industry. The company specializes in enabling digital transformation for businesses through a comprehensive range of software solutions, encompassing digitalisation, modernisation, automation, and intelligence.
| Bidding Dates |
|---|
| 27 Sep 2023 - 03 Oct 2023 |
| Subscription |
|---|
| 8.95x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,24,000 | 1 | 1 | 4000 | 15.2 M | ₹29 - ₹31 | 73 % | ₹440.0 M - ₹470.3 M | RHP DOC |
Canarys Automations IPO SUBSCRIPTION STATUS
03 Oct '23Canarys Automations IPO overall subscription rate was 8.95 times the total available shares
Canarys Automations IPO retail subscription rate was 14.14 times in the retail segment
Canarys Automations IPO non-institutional investor subscription rate was 22.26 times in the non-institutional investor category
Canarys Automations IPO Qualified Institutional Bidder subscription rate was 1.32 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
03 Oct 2023 (Day 4) | 14.14x | 22.26x | 1.32x |
29 Sep 2023 (Day 3) | 2.24x | 1.32x | 0x |
28 Sep 2023 (Day 2) | 1.13x | 0.86x | 0x |
27 Sep 2023 (Day 1) | 0.5x | 0.59x | 0x |
Canarys Automations 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 |
| FY23 | 85.3 | 745.2 | -61.9 | -64.9 | 13.0% |
| FY22 | 45.6 | 515.1 | -26.5 | -31.4 | 13.7% |
| FY21 | 21.0 | 256.2 | -16.0 | -17.4 | 18.1% |
Canarys Automations IPO SUBSCRIPTION STATUS DETAILS
Canarys Automations had 15.2 M shares on offer
Canarys Automations IPO offer price was in the range ₹29 - ₹31
Canarys Automations IPO minimum Investment was ₹124000
Canarys Automations IPO issue size was ₹ 440.0 M - ₹ 470.3 M
Canarys Automations had a minimum lot size of 4000 Shares per application
Canarys Automations NUMBER OF SHARES ON OFFER
Canarys Automations IPO IMPORTANT DATES
| Issue Open Date | 27 Sep 2023 |
| Issue close Date | 03 Oct 2023 |
| Allotment Date | 06 Oct 2023 |
| Refund Date | 09 Oct 2023 |
| Demat Account Credit Date | 10 Oct 2023 |
| Listing Date | 11 Oct 2023 |
| Listing on Exchange(s) | NSE |
| Canarys Automations Allotment Status | Exchange |
Canarys Automations IPO subscription opened on 27 Sep 2023, and closed on 03 Oct 2023
IPO allotment for Canarys Automations was finalized on Friday, 06 Oct 2023
IPO listing for Canarys Automations was on NSE on Wednesday, 11 Oct 2023
Canarys Automations IPO LISTING GAINS
| Issue Price (adjusted) | 31.0 |
| Listing Open Price | 43.5 |
| Listing Close Price | 41.3 |
| Listing Gain% | 40.2% |
| Current Gain% | -23.6% |
Canarys Automations 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Canarys Automations Ltd. | 23.7 | 133.2 | 9.4 | 0.1 | 0.7 | 14.4 | 10.6 | 199.7 | 120.5 | 14.8 | 78.9 | 2.5 | 71.1 |
| 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 |
Canarys Automations INFORMATION ON IPO ISSUE
About Canarys Automations
Canarys Automations was incorporated on July 1, 1991. Canarys is a leading IT solutions provider with over 30 years of experience in the industry. The company specializes in enabling digital transformation for businesses through a comprehensive range of software solutions, encompassing digitalisation, modernisation, automation, and intelligence.
Object of the Issue
- Funding of expenditure relating to solutions development for digital transformation and water resources management solutions
- Creation of new delivery centre including infrastructure thereof and upgrading existing facilities
- Funding working capital requirements of the company
- General corporate purposes
Canarys Automations - PROMOTERS
| Name |
|---|
| Metikurke Ramaswamy Raman Subbarao |
| Danavadi Krishnamurthy Arun |
| Raghu Chandrashekhariah |
| Sheshadri Yedavanahalli Srinivas |
| Pushparaj Shetty |
| Nagaraju Vineeth |
Canarys Automations Lead Manager of the Issue
Indorient Financial Services Limited
compliance-ifsl@indorient.in
Canarys Automations canarys.ipo@linkintime.co.in
Link Intime India Private Limited
canarys.ipo@linkintime.co.in
Canarys Automations Strengths
International expansion
Currently, 50.54% of the company's service revenue comes from international customers
Market-specific technology offerings
Across its customer landscape, the company aims to accelerate its solutions and service offerings by targeting the specific needs of the user community. It plans to identify specific use cases that can drive business growth
Canarys Automations Risks
Dependent on USA
The company's revenues are highly dependent on customers located in the USA. Adverse economic conditions or factors that negatively affect the economic situation of that country could materially adversely affect the business
Contracts that could result in liabilities
Certain contracts that the company has entered into may have warranties that could result in liabilities in the future
IPO FAQs
The promoters of the company are Metikurke Ramaswamy Raman Subbarao, Danavadi Krishnamurthy Arun, Raghu Chandrashekhariah, Sheshadri Yedavanahalli Srinivas, Pushparaj Shetty and Nagaraju Vineeth.
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 29.0 - 31.0.
The IPO application opens on Sep 27, 2023 and closes on Oct 03, 2023.
The minimum lot size for the IPO is 4000. The maximum lot size for the IPO is 4000.
For all category investors, the minimum application amount for this IPO is Rs. 124,000.0, the maximum value for this IPO is Rs 124,000.0.
This IPO will be allotted on Oct 06, 2023.
The refund will be credited to your account on Oct 09, 2023.
The allotted shares will be credited to your demat on Oct 10, 2023.
Canarys Automations Ltd.’s shares listed on the stock exchanges on Oct 11, 2023.