Sigma Solve was incorporated on April 29, 2010. The company “Sigma” and “Sigma Solve Inc. are jointly offering enterprise software development. It offers turnkey consultancy services to customers in their business domain. It also in association with the group entity “Sigma Solve” provides services related to web and e-commerce development, real-time application development, business intelligence analytics, CRM development, digital marketing, UI and UX design, automation testing and quality assurance.
| Bidding Dates |
|---|
| 29 Sep 2020 - 09 Oct 2020 |
| Subscription |
|---|
| 1.59x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,35,000 | 1 | 1 | 3000 | 1.1 M | ₹45 | 73.22 % | ₹49.5 M | RHP DOC |
Sigma Solve IPO SUBSCRIPTION STATUS
09 Oct '20Sigma Solve IPO overall subscription rate was 1.59 times the total available shares
Sigma Solve IPO retail subscription rate was 2.09 times in the retail segment
Sigma Solve IPO non-institutional investor subscription rate was 1.09 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
08 Oct 2020 (Day 7) | 1.22x | 1.02x | - |
09 Oct 2020 (Day 8) | 2.09x | 1.09x | - |
01 Oct 2020 (Day 3) | 0.52x | 0.01x | - |
05 Oct 2020 (Day 4) | 0.85x | 0.52x | - |
06 Oct 2020 (Day 5) | 0.95x | 0.66x | - |
07 Oct 2020 (Day 6) | 1.06x | 0.91x | - |
29 Sep 2020 (Day 1) | 0.3x | 0.01x | - |
30 Sep 2020 (Day 2) | 0.48x | 0.01x | - |
Sigma Solve 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) |
| FY20 | 6.5 | 55.4 | 3.7 | 3.3 |
| FY19 | 3.5 | 33.7 | 3.0 | 2.1 |
| FY18 | 2.3 | 25.0 | 2.6 | 2.5 |
Sigma Solve IPO SUBSCRIPTION STATUS DETAILS
Sigma Solve had 1.1 M shares on offer
Sigma Solve IPO offer price was ₹45
Sigma Solve IPO minimum Investment was ₹135000
Sigma Solve IPO issue size was ₹ 49.5 M
Sigma Solve had a minimum lot size of 3000 Shares per application
Sigma Solve NUMBER OF SHARES ON OFFER
Sigma Solve IPO IMPORTANT DATES
| Issue Open Date | 29 Sep 2020 |
| Issue close Date | 09 Oct 2020 |
| Allotment Date | 14 Oct 2020 |
| Refund Date | 15 Oct 2020 |
| Demat Account Credit Date | 15 Oct 2020 |
| Listing Date | 19 Oct 2020 |
| Listing on Exchange(s) | NSE |
| Sigma Solve Allotment Status | Exchange |
Sigma Solve IPO subscription opened on 29 Sep 2020, and closed on 09 Oct 2020
IPO allotment for Sigma Solve was finalized on Wednesday, 14 Oct 2020
IPO listing for Sigma Solve was on NSE on Monday, 19 Oct 2020
Sigma Solve IPO LISTING GAINS
| Issue Price (adjusted) | 1.8 |
| Listing Open Price | 46.0 |
| Listing Close Price | 45.1 |
| Listing Gain% | 2.2% |
| Current Gain% | 2476.1% |
Sigma Solve 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 % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sigma Solve Ltd. | 46.4 | 19.1 | 15.2 | 0.3 | 4.9 | 31 | 26.8 | 100.2 | 29.2 | 23.9 | 25.1 | 3 | 53.8 |
| 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 |
Sigma Solve INFORMATION ON IPO ISSUE
About Sigma Solve
Sigma Solve was incorporated on April 29, 2010. The company “Sigma” and “Sigma Solve Inc. are jointly offering enterprise software development. It offers turnkey consultancy services to customers in their business domain. It also in association with the group entity “Sigma Solve” provides services related to web and e-commerce development, real-time application development, business intelligence analytics, CRM development, digital marketing, UI and UX design, automation testing and quality assurance.
Object of the Issue
- To utilize funds towards the acquisition and other strategic initiatives
- To invest in subsidiary companies
- To meet general corporate purposes
- To meet public issue expenditures
Sigma Solve - PROMOTERS
| Name |
|---|
| Prakash Ratilal Parikh |
| Kalpana Prakashbhai Parikh |
Sigma Solve Lead Manager to the Issue
Beeline Broking Limited
mb@beelinemb.com
Sigma Solve Registrar to the Offer
Link Intime India Private Limited
sigma.ipo@linkintime.co.in
Sigma Solve Strengths
User experience design
With a comprehensive understanding of how humans interact with computer applications, Sigma provides its client's user experience design services for mobile and web
Customer focus
The company is able to understand its customers’ complex requirements and translate them into customized solutions on a sustainable basis
Sigma Solve Risks
Dependent on Sigma Solve
The Company is dependent on Sigma Solve Inc. (Erstwhile group concern and now subsidiary company w.e.f. October 23, 2019). The loss of this large customer may affect revenues and profitability
Improper filings
Certain forms filed by the company with ROC are improper
IPO FAQs
Sigma Solve Ltd. IPO listing opened at Rs 46.00 while the issue price was Rs 45.00 giving 2.22% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 1.80 giving 2476.11% gains since its IPO listing.
The promoters of the company are Prakash Ratilal Parikh and Kalpana Prakashbhai Parikh.
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 45.0 - 45.0.
The IPO application opens on Sep 29, 2020 and closes on Oct 09, 2020.
The minimum lot size for the IPO is 3000. The maximum lot size for the IPO is 3000.
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 Oct 14, 2020.
The refund will be credited to your account on Oct 15, 2020.
The allotted shares will be credited to your demat on Oct 15, 2020.
Sigma Solve Ltd.’s shares listed on the stock exchanges on Oct 19, 2020.