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Enfuse Solutions IPO is a book built issue of Rs 22.44 crores. The issue is entirely a fresh issue of 23.38 lakh shares.
Enfuse Solutions IPO bidding started from March 15, 2024 and ended on March 19, 2024. The allotment for Enfuse Solutions IPO was finalized on Wednesday, March 20, 2024. The shares got listed on NSE SME on March 22, 2024.
Enfuse Solutions IPO price band is set at ₹91 to ₹96 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹115,200. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹230,400.
Hem Securities Limited is the book running lead manager of the Enfuse Solutions IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Enfuse Solutions IPO is Hem Finlease.
Refer to Enfuse Solutions IPO RHP for detailed information.
| IPO Date | March 15, 2024 to March 19, 2024 |
| Listing Date | March 22, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹91 to ₹96 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 2,337,600 shares (aggregating up to ₹22.44 Cr) |
| Fresh Issue | 2,337,600 shares (aggregating up to ₹22.44 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 6,510,000 |
| Share holding post issue | 8,847,600 |
| Market Maker portion | 120,000 shares Hem Finlease |
Enfuse Solutions IPO offers 2,337,600 shares. 444,000 (18.99%) to QIB, 333,600 (14.27%) to NII, 776,400 (33.21%) to RII and 663,600 (28.39%) to Anchor investors.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 663,600 (28.39%) |
| Market Maker Shares Offered | 120,000 (5.13%) |
| QIB Shares Offered | 444,000 (18.99%) |
| NII (HNI) Shares Offered | 333,600 (14.27%) |
| Retail Shares Offered | 776,400 (33.21%) |
| Total Shares Offered | 2,337,600 (100%) |
Enfuse Solutions IPO raises Rs 6.37 crore from anchor investors. Enfuse Solutions IPO Anchor bid date is March 14, 2024. Enfuse Solutions IPO Anchor Investors list
| Bid Date | March 14, 2024 |
| Shares Offered | 663,600 |
| Anchor Portion Size (In Cr.) | 6.37 |
| Anchor lock-in period end date for 50% shares (30 Days) | April 19, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | June 18, 2024 |
Enfuse Solutions IPO opens on March 15, 2024, and closes on March 19, 2024.
| IPO Open Date | Friday, March 15, 2024 |
| IPO Close Date | Tuesday, March 19, 2024 |
| Basis of Allotment | Wednesday, March 20, 2024 |
| Initiation of Refunds | Thursday, March 21, 2024 |
| Credit of Shares to Demat | Thursday, March 21, 2024 |
| Listing Date | Friday, March 22, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 19, 2024 |
Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹115,200 |
| Retail (Max) | 1 | 1200 | ₹115,200 |
| HNI (Min) | 2 | 2,400 | ₹230,400 |
| Lot Size Calculator | |||
The promoters of the company are Imran Yasin Ansari, Mohammedk Lalmohammed Shaikh, Rahul Mahendra Gandhi, Zaynulabedin Mohmadbhai Mira and Farheen Imran Ansari.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.58% |
Incorporated in 2017, Enfuse Solutions Limited provides integrated digital solutions in the areas of data management and analytics, e-commerce and digital services, machine learning and artificial intelligence, education, and technology solutions.
The company operates in four areas:
The company has two delivery centers, one in Thane, Maharashtra, and the second in Vikroli, Mumbai, Maharashtra.
The company generates revenue from its domestic business in India and exports services to countries such as the US, Ireland, the Netherlands and Canada.
As of December 31, 2023, the company employed a total of 448 employees at various levels of the organization, including key management personnel.
Enfuse Solutions Limited's revenue increased by 2.1% and profit after tax (PAT) rose by 47.76% between the financial year ending with March 31, 2023 and March 31, 2022.
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 2,547.23 | 1,164.71 | 889.80 | 460.80 |
| Revenue | 2,805.28 | 2,610.42 | 2,556.64 | 1,720.26 |
| Profit After Tax | 322.50 | 292.73 | 198.11 | 155.43 |
| Net Worth | 969.95 | 646.45 | 353.72 | 155.60 |
| Reserves and Surplus | 318.95 | |||
| Total Borrowing | 905.75 | 242.09 | 234.08 | |
| Amount in ₹ Lakhs | ||||
The market capitalization of Enfuse Solutions IPO is Rs 84.94 Cr.
KPI as of December 31, 2023.
| KPI | Values |
|---|---|
| ROE | 39.88% |
| ROCE | 24.05% |
| RoNW | 33.25% |
| P/BV | 7.57 |
| PAT Margin (%) | 11.51 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 4.5 | 4.03 |
| P/E (x) | 21.35 | 23.8 |
The company intends to utilize the proceeds of the Issue to meet the following objectives:
[Dilip Davda] The company is operating in a highly competitive segment of integrated digital solution providing. It marked growth in its top and bottom lines for the reported periods, but sudden surge in its bottom lines raises eyebrows. Based on its FY24 annualized earnings, the issue appears fully priced. The financial performance for the last 21 months appears to have been fabricated to match the asking price. Well-informed investors may park funds for the medium to long term rewards. Read detail review...
The Enfuse Solutions IPO is subscribed 357.31 times on March 19, 2024 6:21:00 PM. The public issue subscribed 248.42 times in the retail category, 99.97 times in the QIB category, and 953.22 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 99.97 |
| NII | 953.22 |
| Retail | 248.42 |
| Total | 357.31 |
Total Application : 160,729 (248.42 times)
| Listing Date | March 22, 2024 |
| BSE Script Code | |
| NSE Symbol | ENFUSE |
| ISIN | INE0S3X01014 |
| Final Issue Price | ₹96 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹96.00 |
| ₹115.00 |
| ₹109.25 |
| ₹120.00 |
| ₹115.45 |
Enfuse Solutions Limited
A/1503, Bonaventure Building,
No.5, Rangnath Kesar Road, Dahisar West,
Mumbai - 400068
Phone: +91-22-28118383
Email: cs@enfuse-solutions.com
Website: https://www.enfuse-solutions.com/
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/ipo_status.html
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Check our SME IPO Guide 
Enfuse Solutions IPO is a SME IPO of 2,337,600 equity shares of the face value of ₹10 aggregating up to ₹22.44 Crores. The issue is priced at ₹91 to ₹96 per share. The minimum order quantity is 1200 Shares.
The IPO opens on March 15, 2024, and closes on March 19, 2024.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Enfuse Solutions IPO using UPI as a payment gateway. Zerodha customers can apply in Enfuse Solutions IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Enfuse Solutions IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Enfuse Solutions IPO opens on March 15, 2024 and closes on March 19, 2024.
Enfuse Solutions IPO lot size is 1200 Shares, and the minimum amount required is ₹115,200.
You can apply in Enfuse Solutions IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for Enfuse Solutions IPO will be done on Wednesday, March 20, 2024, and the allotted shares will be credited to your demat account by Thursday, March 21, 2024. Check the Enfuse Solutions IPO allotment status.
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