Sancode Technologies IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Apr 06, 2023Let’s have a detailed review of the company and analytics of the Sancode Technologies IPO release date, IPO offer price, subscription, Sancode Technologies Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs 47 |
| Listing At | BSE, SME |
| Min. Order Quantity | 3000 Shares |
| Listing Date | Apr 18, 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 515 Lakh |
| IPO Size | Rs 515 Lakh |
| Tick Size | 1 |
Sancode Technologies IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Sancode Technologies Share Price |
Sancode Technologies IPO – Summary
Their Company Sancode Technologies Limited is a software and product development company offering an API-enabled platform and solutions that enable organizations to rapidly adopt powerful technology applications addressing their strategic business needs.
They enable organizations to drive digital transformation and competitive differentiation by providing them easy to implement pre-built business logic and solution workflows, especially for finance automation.
The Promoter of this company is AMIT VIJAY JAIN, KHUSHBOO JAIN, MIHIR DEEPAK VORA AND ZNL STARTUP ACCELERATOR LLP. The lead manager of the issue is SHRENI SHARES PRIVATE LIMITED, and the Registrar of this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Sancode Technologies IPO Date
The opening and closing dates of Sancode Technologies IPO are Mar 31, 2023, and Apr 6, 2023, respectively.
Sancode Technologies IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 31st Mar | 0.00x | 0.17x | 0.09x |
| 2nd Day – 3rd Apr | 0.54x | 0.42x | 0.48x |
| 3rd Day – 5th Apr | 1.54x | 1.27x | 1.41x |
| 4th Day – 6th Apr | 3.98x | 3.39x | 3.68x |
| Shares Offered or Net Issue | 519,000 | 519,000 | 1,038,000 |
The shares subscribed by the public will be updated here.
Sancode Technologies IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Sancode Technologies Limited IPO Listing Date
Find the dates below on the basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Apr 12, 2023 |
| Refunds Initiation | Apr 13, 2023 |
| Credit of Shares to Demat Account | Apr 17, 2023 |
| Share Listing Date | Apr 18, 2023 |
Sancode Technologies IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.47
Sancode Technologies IPO Equity Size
This Initial Public Issue of 1,095,000 Equity Shares of Rs.10 each for cash at a price of Rs.47 per equity share aggregating to Rs.515 Lakh.
Sancode Technologies IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 1,095,000 Equity Shares of Rs.10/ each.
Issue Size: 1,095,000 Equity Shares of Rs.10 each, aggregating to Rs.515 Lakh
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Sancode Technologies IPO – Live Performance
The listing date of this IPO is Apr 18, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Sancode Technologies Share Price |
Sancode Technologies IPO Grey Market Premium
The Sancode Technologies Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Sancode Technologies IPO – Company Overview
They are more focused on bridging the gap between technology and businesses by hiring a team of solution architects, project managers and business analysts.
They deliver solutions to their customers by working in collaboration with a network of implementation partners in the following areas: • Digital transformation. • Workflow automation. • Artificial intelligence (AI) and Machine learning (ML). • Robotic Process Automation (RPA) and Data analytics. • Metaverse and Web3 applications • System Integration.
Their Company has evolved its business to develop, provide, undertake, design, distribute and deal in Systems and application software, undertake offshore software development projects, digital transformation, cloud migration, advanced analytics, Robotic process automation, machine learning and AI projects in all areas of application.
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.
Sancode Technologies IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | ||||
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Total Assets | 481.26 | 349.87 | 313.96 | 330.45 |
| *Total Revenue | 180.62 | 244.81 | 159.74 | 43.08 |
| Total Expense | 66.14 | 204.46 | 188.52 | 189.64 |
| Profit After Tax | 66.12 | 62.95 | (4.60) | (112.94) |
Earnings per Equity Share (in Lakh)
| 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 29.05 | (2.12) | (52.13) |
Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 66.12 Lakh, Rs. 62.95 Lakh, Rs. (4.60) Lakh and Rs. (112.94) Lakh respectively.
Sancode Technologies IPO – Promoters
The Promoter of this company is:
- AMIT VIJAY JAIN,
- KHUSHBOO JAIN,
- MIHIR DEEPAK VORA
- ZNL STARTUP ACCELERATOR LLP
List of Related Parties (Key Managerial Personnel)
- Amit Vijay Jain, Chairman and Executive Director
- Mihir Deepak Vora, Managing Director
- Mukeshkumar Devichand Jain, Non-Executive Director
- Sumesh Ashok Mishra, Non-Executive Independent Director
- Ayushi Mishra, Non-Executive Independent Director
Sancode Technologies IPO – Promoters Holding
- Pre-Issue Share Holding – 97.47%
- Post-Issue Share Holding -71.24%
Sancode Technologies IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 10,95,000 Equity Shares aggregating up to Rs.10,95,000 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 57,000 Equity Shares aggregating up to Rs.26.79 Lakh |
| Net Issue to the Public | Up to 10,38,000 Equity Shares aggregating up to Rs.487.86 Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 519,000 Equity Shares |
| Other than Retail Individual Investors | Not more than 519,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 29,73,867 Equity Shares |
| Equity Shares outstanding after the Issue | 40,68,867 Equity Shares |
Sancode Technologies IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Funding working capital requirements; and
2. General corporate purposes
Sancode Technologies IPO – Business Strategy
- Strategic Acquisition and Alliances.
- Expansion of their existing service portfolio
- Continue to Focus on Providing Customer Centric Services and Offerings
- Continue to maintain good relationships with their customers.
- Brand Image.
Sancode Technologies IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Software products and solutions for finance automation
- Clients in the international market.
- Wide service portfolio
- Experience of their Promoters and senior management team.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 29.05 | 21.93% | 132.49 |
| 31-Mar-21 | (2.12) | (2.06)% | 103.18 |
| Mar-20 | (52.13) | (51.15)% | 101.92 |
Sancode Technologies IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Sancode Technologies Limited | 10 | [●] | 29.05 | 21.93% | 244.81 |
| Listed Peers | |||||
| NA | – | – | – | – | – |
Sancode Technologies IPO Lead Managers
| Lead Managers |
| SHRENI SHARES PRIVATE LIMITED Office No. 102, 1st Floor, Sea Lord CHS, Plot No. 1/B, 1/A, Survey No. A-12, Ram Nagar, Borivali (West), Mumbai- 400 092, Maharashtra, India. Telephone: +91-22-2808 8456 E-mail: shrenishares@gmail.com Investors Grievance e-mail: info@shreni.in Contact Person: Krunal Pipalia Website: www.shreni.in SEBI Registration Number: INM000012759 |
Sancode Technologies IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED Office No S6-2, 6th floor Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai – 400 093, Maharashtra, India. Telephone: 022 – 6263 8200 | Fax No. 022 6263 8280 E-mail: ipo@bigshareonline.com Investor grievance e-mail: investor@bigshareonline.com Website: www.bigshareonline.com Contact Person: Swapnil Kate SEBI Registration No.: INR000001385 |
Sancode Technologies IPO – Other Details
- Statutory Auditor – MSU & Co., Chartered Accountants
- Legal Counsel to the Company – Asha Agarwal & Associates
- Bankers to the Company – The Hongkong and Shanghai Banking Corporation (HSBC)
Sancode Technologies IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Sancode Technologies Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Sancode Technologies IPO Review FAQs
Check out various FAQs related to Sancode Technologies IPO:
What is the Issue Size of Sancode Technologies IPO?
The Company is making an initial public offer of 1,095,000 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Sancode Technologies IPO?
The price band for this particular IPO ranges between Rs 47. As far as the face value of the share is of concern, it is Rs. 10 per share.
What is the Sancode Technologies IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Mar 31, 2023, while the closing date is set for Apr 6, 2023.
What is the Sancode Technologies IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on Apr 12, 2023, refund initiation is on Apr 13, 2023, credit of shares is on Apr 17, 2023, and share listing date is on Apr 18, 2023.
What is the Sancode Technologies IPO Listing Date?
Shares of this company shall be listed in the exchanges on Apr 18, 2023. The date, when the listing would be done, is stagnant on Apr 18, 2023.
Who is the Registrar of Sancode Technologies IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Pvt Ltd. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Sancode Technologies IPO?
Here are the promoters of this IPO – AMIT VIJAY JAIN, KHUSHBOO JAIN, MIHIR DEEPAK VORA AND ZNL STARTUP ACCELERATOR LLP. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Sancode Technologies?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Sancode Technologies good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Sancode Technologies Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2022 in Lakh is 62.95, 2021 is (4.60), and 2020 is (112.94). PAT from Sep 2022 is 66.12.
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