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Sahana System IPO is a book built issue of Rs 32.74 crores. The issue is entirely a fresh issue of 24.25 lakh shares.
Sahana System IPO bidding started from May 31, 2023 and ended on June 2, 2023. The allotment for Sahana System IPO was finalized on Wednesday, June 7, 2023. The shares got listed on NSE SME on June 12, 2023.
Sahana System IPO price band is set at ₹132 to ₹135 per share. The minimum lot size for an application is 1000 Shares. The minimum amount of investment required by retail investors is ₹135,000. The minimum lot size investment for HNI is 2 lots (2,000 shares) amounting to ₹270,000.
Unistone Capital Pvt Ltd and Interactive Financial Services Ltd are the book running lead managers of the Sahana System IPO, while Purva Sharegistry India Pvt Ltd is the registrar for the issue. The market maker for Sahana System IPO is Rikhav Securities.
Refer to Sahana System IPO RHP for detailed information.
| IPO Date | May 31, 2023 to June 2, 2023 |
| Listing Date | June 12, 2023 |
| Face Value | ₹10 per share |
| Price Band | ₹132 to ₹135 per share |
| Lot Size | 1000 Shares |
| Total Issue Size | 2,425,000 shares (aggregating up to ₹32.74 Cr) |
| Fresh Issue | 2,425,000 shares (aggregating up to ₹32.74 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 5,571,493 |
| Share holding post issue | 7,996,493 |
| Market Maker portion | 125,000 shares Rikhav Securities |
Sahana System IPO offers 2,425,000 shares. 230,000 (9.48%) to QIB, 1,035,000 (42.68%) to NII, 1,035,000 (42.68%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 125,000 (5.15%) |
| QIB Shares Offered | 230,000 (9.48%) |
| NII (HNI) Shares Offered | 1,035,000 (42.68%) |
| Retail Shares Offered | 1,035,000 (42.68%) |
| Total Shares Offered | 2,425,000 (100%) |
Sahana System IPO opens on May 31, 2023, and closes on June 2, 2023.
| IPO Open Date | Wednesday, May 31, 2023 |
| IPO Close Date | Friday, June 2, 2023 |
| Basis of Allotment | Wednesday, June 7, 2023 |
| Initiation of Refunds | Thursday, June 8, 2023 |
| Credit of Shares to Demat | Friday, June 9, 2023 |
| Listing Date | Monday, June 12, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on June 2, 2023 |
Investors can bid for a minimum of 1000 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 | 1000 | ₹135,000 |
| Retail (Max) | 1 | 1000 | ₹135,000 |
| HNI (Min) | 2 | 2,000 | ₹270,000 |
| Lot Size Calculator | |||
Pratik Kakadia is the Promoter of the company.
| Share Holding Pre Issue | 90.25% |
| Share Holding Post Issue |
Incorporated in 2020, "Sahana System Limited" is engaged in the business of offering IT-related services. These include services like web app development, mobile application development, AI & ML development, ChatBot development, and product prototyping.
Further, the company also offers graphics designing, UI / UX design, SEO & ASO, digital marketing, website & application migration, cyber security, and outsourcing of IT services.
Sahana System has been certified as CMMI Maturity Level - 3 in E-Commerce department by Equalitas Certifications Limited. They also have received ISO 9001:2015 and ISO/IEC 27001:2013 accreditation from Equalitas Certifications Limited.
The Company is recognized as a start-up by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry. The recognition certificate is valid for 10 years from the date of incorporation of the Company.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-21 | 772.93 | 331.47 | 16.44 | 17.44 | 16.44 | 723.25 |
| 31-Mar-22 | 1,498.91 | 1,217.39 | 141.18 | 452.06 | 142.53 | 512.59 |
| 31-Mar-23 | 2,417.82 | 2,414.23 | 639.64 | 1,079.71 | 522.56 | 477.04 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Sahana System IPO is Rs 107.95 Cr.
| KPI | Values |
|---|---|
| ROE | 83.52% |
| ROCE | 61.05% |
| Debt/Equity | 0.44 |
| RoNW | 59.24% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 11.48 | |
| P/E (x) | 16.88 |
The company intends to utilize the proceeds of the issue to meet the following objects:
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many players around. The sudden boost in its bottom line for FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears fully priced. The small equity capital post-IPO indicates a longer gestation period for migration to the mainboard. There is no harm in skipping this issue. Read detail review...
The Sahana System IPO is subscribed 9.99 times on June 2, 2023 7:29:00 PM. The public issue subscribed 12.97 times in the retail category, 9.70 times in the QIB category, and 7.07 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 9.70 |
| NII | 7.07 |
| Retail | 12.97 |
| Total | 9.99 |
Total Application : 13,428 (12.97 times)
| Listing Date | June 12, 2023 |
| BSE Script Code | |
| NSE Symbol | SAHANA |
| ISIN | INE0LEX01011 |
| Final Issue Price | ₹135 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| NSE SME |
|---|
| ₹135.00 |
| ₹163.00 |
| ₹163.00 |
| ₹171.15 |
| ₹171.15 |
Sahana System Limited
901-A-Block, Mondeal Square,
Nr. Iscon Elegance, S.G. Highway,
Prahladnagar Ahmedabad - 380015
Phone: +91 79 4601 4490
Email: cs@sahanasystem.com
Website: http://www.sahanasystem.com/
Purva Sharegistry India Pvt Ltd
Phone: +91-022-23018261/ 23016761
Email: support@purvashare.com
Website: https://www.purvashare.com/investor-service/ipo-query
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Sahana System IPO is a SME IPO of 2,425,000 equity shares of the face value of ₹10 aggregating up to ₹32.74 Crores. The issue is priced at ₹132 to ₹135 per share. The minimum order quantity is 1000 Shares.
The IPO opens on May 31, 2023, and closes on June 2, 2023.
Purva Sharegistry India Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on NSE SME.
Zerodha customers can apply online in Sahana System IPO using UPI as a payment gateway. Zerodha customers can apply in Sahana System IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sahana System IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sahana System IPO opens on May 31, 2023 and closes on June 2, 2023.
Sahana System IPO lot size is 1000 Shares, and the minimum amount required is ₹135,000.
You can apply in Sahana System 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 Sahana System IPO will be done on Wednesday, June 7, 2023, and the allotted shares will be credited to your demat account by Friday, June 9, 2023. Check the Sahana System IPO allotment status.
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