Micropro Software Solutions was incorporated on 5 September 1996. The company operates in the field of software development and consulting, providing cost-effective IT solutions to its clients. It designs, develops, standardizes, and customizes software solutions across various industry verticals as needed.
| Bidding Dates |
|---|
| 03 Nov 2023 - 07 Nov 2023 |
| Subscription |
|---|
| 34.09x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,29,600 | 1 | 1 | 1600 | 3.8 M | ₹81 | 73.49 % | ₹307.0 M | RHP DOC |
Micropro Software IPO SUBSCRIPTION STATUS
07 Nov '23Micropro Software IPO overall subscription rate was 34.09 times the total available shares
Micropro Software IPO retail subscription rate was 46.62 times in the retail segment
Micropro Software IPO non-institutional investor subscription rate was 21.57 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
07 Nov 2023 (Day 3) | 46.62x | 21.57x | - |
06 Nov 2023 (Day 2) | 16.97x | 2.16x | - |
03 Nov 2023 (Day 1) | 3.44x | 0.33x | - |
Micropro Software 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) |
| 2MFY24 | 4.8 | 27.1 | 8.9 | 8.9 |
| FY23 | 59.2 | 220.6 | 16.3 | 15.4 |
| FY22 | 26.7 | 174.4 | 28.3 | -18.5 |
| FY21 | 13.0 | 138.8 | 19.4 | 15.2 |
Micropro Software IPO SUBSCRIPTION STATUS DETAILS
Micropro Software had 3.8 M shares on offer
Micropro Software IPO offer price was ₹81
Micropro Software IPO minimum Investment was ₹129600
Micropro Software IPO issue size was ₹ 307.0 M
Micropro Software had a minimum lot size of 1600 Shares per application
Micropro Software NUMBER OF SHARES ON OFFER
Micropro Software IPO IMPORTANT DATES
| Issue Open Date | 03 Nov 2023 |
| Issue close Date | 07 Nov 2023 |
| Allotment Date | 08 Nov 2023 |
| Refund Date | 08 Nov 2023 |
| Demat Account Credit Date | 09 Nov 2023 |
| Listing Date | 10 Nov 2023 |
| Listing on Exchange(s) | NSE |
| Micropro Software Allotment Status | Exchange |
Micropro Software IPO subscription opened on 03 Nov 2023, and closed on 07 Nov 2023
IPO allotment for Micropro Software was finalized on Wednesday, 08 Nov 2023
IPO listing for Micropro Software was on NSE on Friday, 10 Nov 2023
Micropro Software IPO LISTING GAINS
| Issue Price (adjusted) | 81.0 |
| Listing Open Price | 80.0 |
| Listing Close Price | 76.0 |
| Listing Gain% | -1.2% |
| Current Gain% | -77.6% |
Micropro Software 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Micropro Software Solutions Ltd. | 18.2 | 26 | -20.1 | 0.7 | 1.3 | -2.9 | -2.5 | 20 | -19.8 | -1.3 | 30.1 | -0.9 | -30.1 |
| 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 |
Micropro Software INFORMATION ON IPO ISSUE
About Micropro Software
Micropro Software Solutions was incorporated on 5 September 1996. The company operates in the field of software development and consulting, providing cost-effective IT solutions to its clients. It designs, develops, standardizes, and customizes software solutions across various industry verticals as needed.
Object of the Issue
- Working capital requirements
- Funding capital expenditure requirements
- General corporate purposes
Micropro Software - PROMOTERS
| Name |
|---|
| Hitesh Dhirajlal Parikh |
| Sanjay Yadavrao Mokashi |
| Prashant Renukadas Rajurkar |
| Shefali Hitesh Parikh |
| Meenakshi Sanjay Mokashi |
| Swati Prashant Rajurkar |
Micropro Software Lead Manager of the Issue
Swaraj Shares and Securities Private Limited
compliance@swarajshares.com
Micropro Software Registrar to the issue
Purva Sharegistry (India) Private Limited
support@purvashare.com
Micropro Software Strengths
Financial track record
The company has a track record of financial performance and consistent growth, with its revenue increasing by 26.32% year-on-year in FY23 and reporting a net profit of Rs 59.2 crore in the same fiscal year
Long-standing client relationship
The company has a history of high customer retention. In Fiscal 2023, it derived approximately 91.3% of its restated revenue from operations from repeat customers
Micropro Software Risks
Intense competition
The company faces intense competition, and its inability to compete effectively could harm the results of its operations and the prospects of the business
Significant indebtedness
The company has incurred significant indebtedness, and failure to comply with the repayment and other covenants in its financing agreements could adversely affect the business
IPO FAQs
The promoters of the company are Hitesh Dhirajlal Parikh, Sanjay Yadavrao Mokashi, Prashant Renukadas Rajurkar, Shefali Hitesh Parikh, Meenakshi Sanjay Mokashi and Swati Prashant Rajurkar.
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 81.0 - 81.0.
The IPO application opens on Nov 03, 2023 and closes on Nov 07, 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. 129,600.0, the maximum value for this IPO is Rs 129,600.0.
This IPO will be allotted on Nov 08, 2023.
The refund will be credited to your account on Nov 08, 2023.
The allotted shares will be credited to your demat on Nov 09, 2023.
Micropro Software Solutions Ltd.’s shares listed on the stock exchanges on Nov 10, 2023.