The Esconet Technologies date has been confirmed from February 16, 2024 and closes on February 20, 2024.
Esconet Technologies Developers IPO is a fixed price issue of Rs 28.22 crores. The price band is set at ₹80 to ₹84 per share. The minimum lot size for an application is 1600 Shares. The minimum amount of investment required by retail investors is ₹134,400. The minimum lot size investment for HNI is 2 lots (3,200 shares) amounting to ₹268,800.
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Bidding Dates
Feb 16-20
Price Range
₹80 to ₹84 per share
Face Value
₹10 per share
GMP
₹77
Esconet Technologies IPO GMP
The Esconet Technologies IPO GMP is ₹77.
IPO Overview
Esconet Technologies IPO is a book-built issuance worth Rs 28.22 crores. The offering is wholly new, totaling 33.6 lakh shares. Esconet Technologies initial public offering (IPO) will begin on February 16, 2024, and end on February 20, 2024. The allotment for Esconet Technologies IPO is expected to be finalized on Wednesday, February 21, 2024. Esconet Technologies IPO will be listed on NSE SME, with a tentative listing date of Friday, February 23, 2024.
Esconet Technologies IPO pricing range is set at ₹80 to ₹84 per share. The minimum lot size for an application is 1600 shares. The minimum investment for retail investors is ₹134,400. The minimum investment for HNI is 2 lots (3,200 shares) worth ₹268,800.
Esconet Technologies IPO Details
| IPO Date | February 16, 2024 to February 20, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹80 to ₹84 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,360,000 shares (aggregating up to ₹28.22 Cr) |
| Fresh Issue | 3,360,000 shares (aggregating up to ₹28.22 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 9,000,000 |
| Share holding post issue | 12,360,000 |
| Market Maker portion | 176,000 shares |
Esconet Technologies Limited Financial Information
| Period Ended | 30 Sep 2023 | 31 Mar 2023 |
| Assets | 4,260.46 | 2,798.37 |
| Revenue | 7,146.71 | 9,690.84 |
| Profit After Tax | 305.47 | 304.00 |
| Net Worth | 902.97 | 554.47 |
| Reserves and Surplus | 825.19 | 477.48 |
| Total Borrowing | 1,008.95 | 1,103.89 |
| Amount in ₹ Lakhs | ||
Esconet Technologies IPO Timeline
| IPO Open Date | Friday, February 16, 2024 |
| IPO Close Date | Tuesday, February 20, 2024 |
| Basis of Allotment | Wednesday, February 21, 2024 |
| Initiation of Refunds | Thursday, February 22, 2024 |
| Credit of Shares to Demat | Thursday, February 22, 2024 |
| Listing Date | Friday, February 23, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on February 20, 2024 |
Company Profile
Esconet Technologies Limited, founded in 2012, offers high-performance supercomputing solutions and data centre facilities such as storage servers, network security, virtualization, and data protection. The company provides servers and graphics workstations, comprehensive data storage solutions, virtualization software, backup and disaster recovery solutions, data centres and access networks, advanced software defined networks, network security tools, email communication systems, high-availability databases, and log management and analytics
software. The company also offers service and after-sales services such as IT hardware installation and configuration, deployment and seamless integration of various IT infrastructure software, infrastructure management and monitoring, expertise in private cloud setup and management, annual maintenance services, managed backup and disaster recovery solutions, data migration services, and expert consulting services.
The company also provides cloud-based services through its subsidiary ZeaCloud Services, which cater to a variety of business needs, including disaster recovery, managed cloud, private cloud, and DaaS services. Esconet’s clients include the Ministry of Defence, National Informatics Centre-MeitY, National Informatics Centre Services Inc – MeitY, Indian Institute of Technology, Indraprastha Institute of Technology Limited, Bharat Electronics Limited, Oil & Natural Gas Commission Limited, Engineers India Limited, Hindustan National Glass & Industries Limited, and many others. As of November 30, 2023, the company had more than 47 employees.
Registrar Info
| Name | Skyline Financial Services Private Ltd |
| Phone number | 02228511022 |
| Email ID | ipo@skylinerta.com |
| Website | skylinerta.com |
Contact Details
| Name | Esconet Technologies Limited |
| Phone number | +91 9311881642 |
| Email ID | cs@esc.co.in |
| Website | esc.co.in |
IPO Strenghts
- Experienced promoters and a competent management team.
- Well-established relationships with a loyal customer base.
- Access to markets worldwide, enabling global reach.
IPO Weakness
- Heavy reliance on customers based in the United States.
- Need to adhere to multiple laws and regulations in these countries to ensure compliance.
- Competition from other players in the market.
