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Sancode Technologies IPO is a fixed price issue of Rs 5.15 crores. The issue is entirely a fresh issue of 10.95 lakh shares.
Sancode Technologies IPO bidding started from March 31, 2023 and ended on April 6, 2023. The allotment for Sancode Technologies IPO was finalized on Wednesday, April 12, 2023. The shares got listed on BSE SME on April 18, 2023.
Sancode Technologies IPO price is ₹47 per share. The minimum lot size for an application is 3000 Shares. The minimum amount of investment required by retail investors is ₹141,000. The minimum lot size investment for HNI is 2 lots (6,000 shares) amounting to ₹282,000.
Shreni Shares Limited is the book running lead manager of the Sancode Technologies IPO, while Bigshare Services Pvt Ltd is the registrar for the issue. The market maker for Sancode Technologies IPO is Shreni Shares.
Refer to Sancode Technologies IPO RHP for detailed information.
| IPO Date | March 31, 2023 to April 6, 2023 |
| Listing Date | April 18, 2023 |
| Face Value | ₹10 per share |
| Price | ₹47 per share |
| Lot Size | 3000 Shares |
| Total Issue Size | 1,095,000 shares (aggregating up to ₹5.15 Cr) |
| Fresh Issue | 1,095,000 shares (aggregating up to ₹5.15 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 2,973,867 |
| Share holding post issue | 4,068,867 |
| Market Maker portion | 57,000 shares Shreni Shares |
Sancode Technologies IPO offers 1,095,000 shares. 519,000 (47.40%) to NII, 519,000 (47.40%) to RII.
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | - |
| Market Maker Shares Offered | 57,000 (5.21%) |
| Other Shares Offered | 519,000 (47.40%) |
| Retail Shares Offered | 519,000 (47.40%) |
| Total Shares Offered | 1,095,000 (100%) |
Sancode Technologies IPO opens on March 31, 2023, and closes on April 6, 2023.
| IPO Open Date | Friday, March 31, 2023 |
| IPO Close Date | Thursday, April 6, 2023 |
| Basis of Allotment | Wednesday, April 12, 2023 |
| Initiation of Refunds | Thursday, April 13, 2023 |
| Credit of Shares to Demat | Monday, April 17, 2023 |
| Listing Date | Tuesday, April 18, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on April 6, 2023 |
Investors can bid for a minimum of 3000 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 | 3000 | ₹141,000 |
| Retail (Max) | 1 | 3000 | ₹141,000 |
| HNI (Min) | 2 | 6,000 | ₹282,000 |
| Lot Size Calculator | |||
Amit Vijay Jain, Khushboo Jain, Mihir Deepak Vora, and ZNL Startup Accelerator LLP are the company promoters.
| Share Holding Pre Issue | 97.47% |
| Share Holding Post Issue | 71.24% |
Incorporated in 2016, Sancode Technologies Limited develops API-based software platforms and solutions.
The company provides easy-to-implement pre-built business logic and solution workflows for clients in digital transformation, workflow automation, Artificial intelligence (AI), Machine learning (ML), Robotic Process Automation (RPA), and Data Analytics, Metaverse, and Web3 applications, System Integration areas.
Sancode Technologies undertakes offshore software development projects, digital transformation, cloud migration, advance analytics, Robotic process automation, machine learning, and AI projects including those in emerging niche segments like Internet and Intranet website applications, enterprise solutions software, resource planning, e-commerce, value-added products and other business applications for corporations across the globe.
The company's customer base sits majorly in the United States of America which includes clients from manufacturing, FMCG, banks and financial institutions, retail, and real estate.
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 31-Mar-20 | 330.45 | 43.08 | -112.98 | 220.83 | 197.95 | 0.22 |
| 31-Mar-21 | 313.96 | 159.74 | -26.17 | 223.56 | 200.69 | 63.73 |
| 31-Mar-22 | 349.87 | 244.81 | 75.12 | 287.07 | 264.19 | 20.76 |
| 30-Sep-22 | 481.26 | 180.62 | 89.36 | 367.54 | 344.67 | 21.20 |
| Amount in ₹ Lakhs | ||||||
The market capitalization of Sancode Technologies IPO is Rs 19.12 Cr.
| Pre IPO | Post IPO | |
|---|---|---|
| P/E (x) | 10.71 |
The proceeds from the issue will be used for the following objects:
1. Funding working capital requirements.
2. General corporate purposes.
[Dilip Davda] The company operates in a highly competitive and fragmented segment with many big players around. The sudden boost in its bottom line for H1 FY23 raises eyebrows and concerns over sustainability going forward. Based on such super earnings, the issue appears fully priced, while based on its track records, it appears aggressively priced. Tiny equity capital post-IPO indicates longer gestation period for migration to the mainboard. There is no harm in skipping this pricey issue. Read detail review...
The Sancode Technologies IPO is subscribed 3.68 times on April 6, 2023 7:02:00 PM. The public issue subscribed 3.39 times in the retail category, times in the QIB category, and 3.98 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| Other | 3.98 |
| Retail | 3.39 |
| Total | 3.68 |
Total Application : 815 (4.71 times)
| Listing Date | April 18, 2023 |
| BSE Script Code | 543897 |
| NSE Symbol | |
| ISIN | INE0P7001013 |
| Final Issue Price | ₹47 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE SME |
|---|
| ₹47.00 |
| ₹64.00 |
| ₹60.80 |
| ₹67.20 |
| ₹60.80 |
Sancode Technologies Limited
107, Prime Plaza,
J.V. Patel Compound, B.M. Road,
Opp. Elphinstone Stn. Mumbai - 400013
Phone: 022-49622853
Email: investor@sancodetech.com
Website: https://www.sancodetech.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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Sancode Technologies IPO is a SME IPO of 1,095,000 equity shares of the face value of ₹10 aggregating up to ₹5.15 Crores. The issue is priced at ₹47 per share. The minimum order quantity is 3000 Shares.
The IPO opens on March 31, 2023, and closes on April 6, 2023.
Bigshare Services Pvt Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE SME.
Zerodha customers can apply online in Sancode Technologies IPO using UPI as a payment gateway. Zerodha customers can apply in Sancode Technologies IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Sancode Technologies IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Sancode Technologies IPO opens on March 31, 2023 and closes on April 6, 2023.
Sancode Technologies IPO lot size is 3000 Shares, and the minimum amount required is ₹141,000.
You can apply in Sancode Technologies 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 Sancode Technologies IPO will be done on Wednesday, April 12, 2023, and the allotted shares will be credited to your demat account by Monday, April 17, 2023. Check the Sancode Technologies IPO allotment status.
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result is very bad.