Atria Convergence Technologies IPO – Review, Allotment Status, Subscription, Price, Date & more

Atria Convergence Technologies IPO is one of the latest IPOs. A draft prospectus has already been filed with SEBI on 27th March 2018. In this article, We will discuss in detail about ACT IPO & its various facts like IPO Object, IPO Size, IPO release date, IPO price, Grey Market Price, IPO Allotment Status, Company background, Company’s financial position, Company promoters etc.


Atria Convergence Technologies IPO Review & Ratings

Atria Convergence IPO Ratings & Review
Criteria Ratings
Industry Sentiments 8.2/10
Industry Ranking 8.1/10
Company Background 8.2/10
Company Reputation 8.4/10
Competitive Edge 8.3/10
Financial Statements 8.2/10
Popularity Index 8.4/10
Promoters Reputation 8.1/10
Retail Appetite 8.5/10
Top Brokers Review 8.3/10
Overall Ratings 8.3/10
Star Ratings ★★★★☆

Summary of Atria Convergence IPO or ACT IPO

Atria Convergence Technologies IPOAtria Convergence Technologies Limited has filed its papers for IPO fundraising. The company has decided to go public by raising money from this IPO. The company has been held by two private equity firms.

One of the equity firms holds more than half of the shares of the company. The internet broadband services company has grown tremendously in the past few years. Since the company is looking forward to expanding, the company has decided to raise money by the Initial Public Offering.

The ISP has contacted some of the leading investment bankers to discuss on this deal. The stocks will be listed both on BSE and NSE.

The Company has hired 4 Lead Managers to manage their IPO namely ICICI Securities Limited, CitiGroup Global Markets India Private Limited, J.P Morgan India Private Limited & HDFC Bank Limited. The has kept Karvy Computershare Private Limited as their Registrar to the Offer.

Atria Convergence IPO is eyeing to raise around INR 1,500 to 2,000 crore from the Market. This is supposedly a big IPO from a Broadband based company.


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Atria Convergence Technologies IPO Date

The IPO date has not been released yet.

Atria Convergence IPO Subscription

  Subscription
Day 1 X
Day 2 X
Day 3 X
Day 4 X
Day 5 X

The IPO issue data has not been announced yet. Once the IPO date has been issued, the subscription details will be updated regularly.

ACT IPO or Atria Convergence Technologies IPO Allotment Status

Since the issue date has not been fixed yet, the Allotment Status is not out. The Allotment status will be announced about 3-4 weeks of the IPO issue date.

ACT IPO or Atria Convergence IPO Price Band

The price band of the ACT IPO will be known only after the offer price of the IPO issues is known. One can know about the price band of the IPO in about a week.

The face value of the equity shares released by the company is Rs 10 each. The offer price is calculated [.] times the face value at the Floor Price. The Offer Price can also be calculated[.] times the face value of the Cap price of the Price band.

Atria Convergence Technologies Limited IPO Issue Size

Atria Convergence Technologies Limited IPO issue size is 1000-2000 crores (according to sources).

ACT IPO or Atria Convergence IPO Equity Shares Offerings

As per the Draft Red Herring Prospectus of the Filed with SEBI, ACT IPO will release close to 1 crore Equity Shares for public offerings.


Atria Convergence Technologies Limited – Company Overview

 The Atria Convergence Technologies was found in the year 2000 in Bangalore. Broadband company later acquired a telecommunications organization named Beam Telecom. The company became the first Internet Services Provider in India to provide internet in Gigabytes speed.

Atria Convergence grew enormously in a very short span of time. The company has become the third largest Internet Service Provider in India. The broadband service that is offered is not a wireless one but a wired one. The usage of fiber net was brought to India by this company.

The company’s profits tripled in the FY 2017-18. The major clients of the company are located in the states of Karnataka, Andhra Pradesh, and Tamil Nadu and in NCR. The high-speed test for the internet first was made in the city of Hyderabad. The company also provides digital television services.

Key Members of the Company

  • Mahendra Kumar Sharma (Chairman & Non-Executive Director)
  • Chinnaswamy Sunder Raju (Founder & Non-Executive Director)
  • Vishal Gangadhar Nivatia (Non-Executive Director)

Competitive Strengths of the Company

  • Largest fiber-focused wired broadband internet service provider in India, a growing and under-penetrated market.
  • Our extensive state-of-the-art fiber network, direct-to-customer business model and access to customers provide a strong platform to drive growth.
  • Strong brand awareness in the markets in which we operate.
  • Attractive value proposition and customer-centric service offerings.
  • Our cable TV business complements our wired broadband internet business.
  • Track record of robust operational and financial performance, reflected in strong returns.
  • Experienced promoters, Key Management Personnel, senior management team, supported by motivated and  engaged employees.

Strategies of the Company

  • Prudently maintain and grow our market share in the private sector wired broadband internet industry.
  • Drive wired broadband internet service penetration and improve market share within existing homes passed.
  • Extend our fiber network coverage in existing markets to expand our potential market.
  • Selectively enter new markets in India.
  • Further invest in network infrastructure and technology to continue to deliver a differentiated value proposition and expand our fiber network.
  • Enhance service offerings to retain existing customers and drive acquisition of new customers.
  • Continue to develop and engage our workforce.
  • Leverage on synergies from our cable TV business operations to grow our wired broadband internet business.

Atria Convergence Technologies Limited – Financial Statement

Have a look at the Financial Stability of the company before you invest in it.

Assets of the Company

Assets (in INR & Millions)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Non-Current Asset 10,946 8,588 7,100 6,485 4,053
Current Asset 2,102 2,370 2,012 1,017 1,046
Total Asset 13,048 10,957 9,111 7,502 5,099

Revenue & PAT of the Company

Revenue & Profits (in INR & Millions)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Total Revenue 12171 8742 6179 4279 2917
Profit after Tax (PAT) 1996 1274 760 147 271

Earnings per Equity Share

Earning per Equity Share (in INR)
  Mar’17 Mar’16 Mar’15 Mar’14 Mar’13
Basic 28.41 17.77 9.02 14.67 18.23
Diluted 28.40 16.14 6.25 14.67 18.23

The Broadband service provider has seen a massive growth in its PAT over a period of last 5 years. 7x growth in PAT & 5x growth in Revenue is outstanding growth for any company. This IPO is definitely as must subscribe for investors. We are hoping to see massive subscription for ACT IPO.


Atria Convergence Technologies Limited – Promoters

The Promoters of the Company are:

  • TA
  • Argan

Interest of Promoters

Interest of Promoters in the promotion of the company

The promoters of the company have promoted the company and they have shown interest in their shareholding of the company in the form of equity shares.

Interest of promoters in the property of the company

The promoter is not interested in the property of the company, they are only the shareholders of the company who have invested in the firm.

Interest of promoters in the intellectual property of the company

The promoter does not have any interest in the intellectual property of the company


Atria Convergence Technologies IPO Issue Details or Offer Details

Offer of Equity Shares Up to X Equity Shares
of which
Fresh Issue Up to X Equity Shares aggregating up to INR 8,000 million
Offer for Sale Up to 10,351,076 Equity Shares
Employee Reservation Portion Up to [●] Equity Shares aggregating up to ₹[●] million
Accordingly,
Net Offer X Equity Shares
of which
A) QIB Portion Not more than X Equity Shares
of which:
Anchor Investor Portion X Equity Shares
Balance available for allocation to QIBs other than Anchor Investors (assuming Anchor Investor Portion is fully subscribed) X Equity Shares
of which:
Available for allocation to Mutual Funds only (5% of the QIB Portion (excluding the Anchor Investor Portion)) X Equity Shares
Balance for all QIBs including Mutual Funds X Equity Shares
B) Non-Institutional Portion Not less than X Equity Shares
C) Retail Portion Not less than X Equity Shares

The company plans to roll out more than 1 crore shares in the market for subscription. This is going to be a big IPO for any broadband based company.


Atria Convergence IPO Issue Object

Our Company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • Capital expenditure towards continued expansion of our underground network infrastructure;
  • Repayment and/or pre-payment of debt; and
  • General corporate purposes

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Atria Convergence IPO or ACT IPO – Basis of Offer Price

Atria Convergence Technologies Limited determines its own offer price. The shareholders of the company research the market for the demand for the products as the company has decided to sell off the equity shares. The company consults the BRLMs’ and decides on the basis of the qualitative and the quantitative factors of the company.

The face value of the equity shares released by the company is Rs 10 each. The offer price is calculated [.] times the face value at the Floor Price. The Offer Price can also be calculated[.] times the face value of the Cap price of the Price band.

Qualitative Factors

The company believes that their qualitative strengths help them to compete in the highly competitive industry. These are the factors:

  • The largest fiber-based network in India that has a huge unpenetrated market for high-speed broadband internet service provider.
  • Largest fiber-focused wired broadband internet service provider in India, a growing, and under-penetrated market.
  • The state of the art fiber network, the good access to the customer base and the business model of being in contact with the customer directly is a USP.
  • Creating strong brand awareness in the operating area.
  • Customer-centric service offering and value proposition
  • The business structure that complements the cable TV as well as the broadband business
  • Highly experienced promoters, good management team, and highly dedicated employees are the strength of the firm
  • Robust financial performance and operations that has given strong returns

Quantitative Factors

The Quantitative factors are used to compute the offer price of the company

  • Basic and Diluted Earnings Per Share (“EPS”)
  • Price/Earning (“P/E”) ratio in relation to Price Band of Rs [●] to Rs [●] per Equity Share
  • Return on Net Worth (“RoNW”)
  • Minimum Return on Increased Net Worth after Offer needed to maintain Pre-Offer EPS
  • Net Asset Value (“NAV”) per Equity Share
  • Comparison with Listed Industry Peers
  • The Offer Price will be [●] times of the face value of the Equity Shares

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Atria Convergence Technologies IPO Lead Managers

Lead Managers
ICICI Securities Limited
Citigroup Global Markets India Private Limited
J.P. Morgan India Private Limited
HDFC Bank Limited

Atria Convergence IPO Registrar to the Offer

Registrar of the Offer
Karvy Computershare Private Limited

Atria Convergence IPO Review by Top 10 Stock Brokers

Top Stock Brokers Review Company Repu-tation Compe-titive Edge Finan-cial State-ment Popu-larity Index Promo-ters Repu-tation
Angel Broking 8.5/10 8.5/10 8.5/10 8.5/10 8.5/10
Sharekhan 8.2/10 8.5/10 8.2/10 8.5/10 8.2/10
Kotak Securities 8.4/10 8.5/10 8.5/10 8.5/10 8.4/10
ICICI Direct 8.4/10 8.4/10 8.3/10 8.5/10 8.5/10
IIFL 8.5/10 8.2/10 8.4/10 8.0/10 8.5/10
Edelweiss 8.5/10 8.5/10 8.5/10 8.4/10 8.2/10
Zerodha 8.5/10 8.5/10 8.5/10 8.5/10 8.0/10
5Paisa 8.5/10 8.5/10 8.5/10 8.5/10 8.5/10
Karvy 8.5/10 8.4/10 8.2/10 8.5/10 8.5/10
Motilal Oswal 8.5/10 8.5/10 8.2/10 8.4/10 8.2/10

Atria Convergence Technologies Limited IPO Grey Market Premium

The Atria Convergence Technologies Limited IPO Grey Market Pricing will be posted 2 weeks before the price of the issue is announced.


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Atria Convergence Technologies IPO News

News 1 – Atria Convergence hires investment banks for IPO


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