The Systango Technologies IPO date has been confirmed from March 2 and ended on March 6.
The IPO of Systango Technologies is a book built issue worth Rs 34.82 crores. This issue consists of a total of 38.69 lakh shares, all of which are fresh shares. The bidding for the Systango Technologies IPO commenced on March 2, 2023, and concluded on March 6, 2023. The allotment for this IPO was finalized on Friday, March 10, 2023. Subsequently, the shares were listed on NSE SME on March 15, 2023.
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Bidding Dates
March 2 – 6 ,2023
Price Range
₹85 to ₹90 per share
Face Value
₹10 per share
GMP
₹ 20
Systango Technologies IPO GMP
The Systango Technologies IPO IPO GMP is ₹[20].
IPO Overview
The price range for Systango Technologies IPO has been established at ₹85 to ₹90 per share. To apply for this IPO, a minimum lot size of 1600 shares is required. Retail investors are required to invest a minimum amount of ₹144,000. On the other hand, HNI investors need to invest in 2 lots, which is equivalent to 3,200 shares, totaling ₹288,000. The company offers a diverse array of software solutions, encompassing website development, mobile app development for both iOS and Android platforms, Web3 development, DeFi (Decentralized finance), data engineering, blockchain implementation, cloud computing, and digital marketing.
Systango Technologies IPO Date & Price Band Details
| IPO Date | March 2, 2023 to March 6, 2023 |
| Listing Date | March 15, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹85 to ₹90 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 3,868,800 shares (aggregating up to ₹34.82 Cr) |
| Fresh Issue | 3,868,800 shares (aggregating up to ₹34.82 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Market Maker portion | 196,800 shares |
Systango Technologies IPO Market Lot
The minimum requirement for investors to bid is 1600 shares, and they can bid in multiples of this amount. The table below illustrates the minimum and maximum investment that retail investors and HNI can make in terms of shares and the corresponding amount.
| Application | Lot Size | Shares | Amount |
| Retail (Min) | 1 | 1600 | ₹144,000 |
| Retail (Max) | 1 | 1600 | ₹144,000 |
| HNI (Min) | 2 | 3,200 | ₹288,000 |
Systango Technologies IPO Allotment and Listing Dates
| IPO Open Date | Thursday, March 2, 2023 |
| IPO Close Date | Monday, March 6, 2023 |
| Basis of Allotment | Friday, March 10, 2023 |
| Initiation of Refunds | Monday, March 13, 2023 |
| Credit of Shares to Demat | Tuesday, March 14, 2023 |
| Listing Date | Wednesday, March 15, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 6, 2023 |
Systango Technologies Company Financials
| Financial year | 6 months period ended September in 2022 | Year ending on As on 31st March, 2021 | Year ending on 31st March, 2020 |
| Revenue from operation | 2239.39 | 32.68.80 | 2298.96 |
| Profit After Tax | 572.30 | 676.99 | 568.26 |
| EBITDA | 641.67 | 626.97 | |
| EBITDA Margin | 28.65% | 22.74% | 27.27% |
| Current Asset | 2,476.98 | 2,050.23 | 1,355.06 |
| Current Liabilities | 353.95 | 465.30 | 406.74 |
Company Profile
Systango Technologies Limited, established in 2004, specializes in providing software solutions to businesses. The company’s offerings empower companies to create, execute, and manage their own personalized digital platforms. Systango’s platforms, such as Web2, Web3, and mobile applications, prioritize data and analytics, ensuring robust functionality. The company’s extensive range of software solutions encompasses website development, iOS and Android mobile app development, Web3 development, DeFi (Decentralized finance), data engineering, blockchain implementation, cloud computing, and digital marketing. Systango Technologies caters to various sectors, including hospitality, property
tech, financial services (FinTech), fantasy sports, and more. Throughout its years of operation, the company has evolved into a reputable provider of professional and technical services. Their comprehensive technology solutions and support enable entities and organizations to effectively incorporate innovations into their systems and stay ahead in the modern world.
Registrar Info
| Name | Bigshare Services Pvt Ltd |
| Phone number | +91-22-6263 8200 |
| Email ID | ipo@bigshareonline.com |
| Website | https://ipo.bigshareonline.com/ipo_status.html |
Contact Details
| Name | Systango Technologies Limited |
| Phone number | +91 0731 2971030 |
| Email ID | cs@systango.com |
| Website | https://www.systango.com/ |
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.
