Sigma Solve IPO Review, Dates, Allotment, Size, Live Bid Details, GMP & RHP
Last Updated Date: Nov 19, 2022Let’s have a detailed review of the company and analytics of the Sigma Solve Limited IPO release date, IPO offer price, subscription, Sigma Solve 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 45 |
| Listing At | NSE SME |
| Min. Order Quantity | 3000 |
| Listing Date | Oct 19, 2020 |
| IPO Size | Rs 495.45 LAKH |
| Tick Size | NA |
Sigma Solve IPO is listed at Rs.35 premium, check out the live share price by clicking on the below link.
Summary of Sigma Solve IPO
Their Company “Sigma” and “Sigma Solve Inc. are jointly offering enterprise software development. They offer turnkey consultancy services to their customers in their business domain.
They also in association with group entity “Sigma Solve” provide services related to Web & E-commerce Development, Real Time Application development, Business Intelligence Analytics, CRM Development, Digital Marketing, UI & UX Design, Automation Testing and Quality Assurance.
Their company’s 100% of the revenue is from export of services, and in order to provide hassle free payment facilities to their clients, they channelize their payment through “Sigma Solve Inc.”(Erstwhile group concern and now subsidiary company w.e.f. October 23, 2019), having their presence in Florida (USA), Atlanta (Home Office) and Australia (Home Office).
The Promoters of this company are MR. PRAKASH RATILAL PARIKH AND MRS. KALPANA PRAKASHBHAI PARIKH. The lead manager to the issue is BEELINE BROKING LIMITED. The Registrar to this issue is Link Intime India Private Limited.
Sigma Solve IPO Dates
The opening and the closing date of Sigma Solve IPO is Sep 29, 2020, and Oct 9, 2020.
Sigma Solve IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – Sep 29 | 0.01x | 0.30x | 0.16x |
| 2nd Day – Sep 30 | 0.01x | 0.48x | 0.24x |
| 3rd Day – Oct 1 | 0.01x | 0.52x | 0.26x |
| 4th Day – Oct 2 | |||
| 6th Day – Oct 3 | |||
| 7th Day – Oct 4 | |||
| 8th Day – Oct 5 | |||
| 9th Day – Oct 6 | |||
| 10th Day – Oct 7 | |||
| 11th Day – Oct 8 | |||
| 12th Day – Oct 9 | |||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
Sigma Solve IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
| Basis of Allotment Finalization | Oct 14, 2020 |
| Refunds Initiation | Oct 15, 2020 |
| Credit of Shares to Demat Account | Oct 15, 2020 |
| Share Listing Date | Oct 19, 2020 |
Sigma Solve IPO Price Band / Cash Price
The face value of each share is Rs 10,and the cash price of the IPO is Rs.45.
Sigma Solve IPO Size
The Issue (excluding the Market Maker Reservation Portion) of 1101000 Equity Shares of Rs.10/- each at Rs.45/- per Equity Share aggregating to Rs.574.20 Lakh by Sigma Solve Limited.
Sigma Solve IPO Share Offering
- Issue Size: 1101000 Equity Shares of Rs.10 each, aggregating to Rs.495.45 Lakh
- Net Issue: The Issue of 1044000 Equity Shares of Rs.10 each at Rs.45 per Equity Share aggregating to Rs.469.80 Lakh
Sigma Solve IPO – Live Performance
The listing date of this IPO is Oct 19, 2020. You can check the live performance of the IPO here, only after it is listed on exchanges.
Sigma Solve IPO Grey Market Premium
The Sigma Solve IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Sigma Solve Limited – Company Overview
Their Company was incorporated as “Sigma Solve IT Tech Private Limited” at Ahmedabad on April 29, 2010. Subsequently, the name of their company was changed to “Sigma Solve Private Limited” and certificate to that effect was issued by Registrar of Companies, Ahmedabad on March 7, 2019.
Mr. Prakash Parikh commenced their company in 2010 to provide the IT and IT enabled services and to accelerate the business opportunities of Sigma Solve Inc., a Florida (USA) based IT Company originally floated as LLC jointly owned by Mr. Biren Zaverchand and Mr. Prerak Parikh, who is son in law and son respectively of their promoters. Since incorporation, their company and Sigma Solve Inc. jointly makes efforts to acquire the business opportunities and execute the work respectively.
Sigma Solve Ltd – Services
Sigma endeavors to bring together creativity and knowledge with positive business strategy to furnish the requirements of diverse clients with an inclusive range of their services which are comprehensive and cost effective. Their Company delivers services across all stages of the product life-cycle, which enables them to work with a wide-range of customers and allows them to develop, enhance and deploy their customers’ software products.
Sigma Solve Limited: Strategies
- Expand our Current Business Relationships
- Invest in infrastructure and technology
- Optimal Utilization of Resources
- Expand our Capabilities for Smartphones/ Mobiles Devices
Sigma Solve Limited: Software Salient Features
- Cost Effective
- Wide Distribution Network
- Easy to Install
- Compatibility with systems
- User Friendly
Sigma Solve Limited: Key Challenges
- Technology Dependency
- Integration with various Technology
- Manpower Retention
- Competition
Sigma Solve Ltd – Financial Statements
After having fine tunes, their work experience in association with Sigma Solve Inc. for more than 9 years, they have acquired 51.04% stake on October 23, 2019 by investing Rs.210.93 Lakhs in Sigma Solve Inc. and making it their subsidiary company.
Sigma Solve IPO Financial Summary
On the basis of Standalone statement:
| Amount (in INR & Lakh) | |||
| 31 March, 20 | March 31, 19 | 31 March, 18 | |
| Total Assets | 498.25 | 226.25 | 112.17 |
| Total Revenue | 568.83 | 348.79 | 257.47 |
| Total Expense | 482.56 | 301.35 | 230.51 |
| Profit After Tax | 65.02 | 34.57 | 23.36 |
Earnings per Equity Share (in INR & Lakh)
| Amount | |||
| 31-Mar-20 | Mar-19 | 31-Mar-18 | |
| Basic & Diluted | 2.47 | 3.42 | 2.31 |
Sigma Solve IPO – Promoters
The Promoters of this company are:
- MR. PRAKASH RATILAL PARIKH
- MRS. KALPANA PRAKASHBHAI PARIKH
List of Related Parties (Key Managerial Personnel)
- Prakash Ratilal Parikh, Chairman cum Managing Director
- Kalpana Parikh Prakashbhai, Whole-Time Director
- Chinmay Himatlal Shah, Chief Financial Officer
- Saurabh Balkrishna Shah, Company Secretary
Interest in promotion of the Company
Their Promoter is interested in their Company to the extent that it has promoted their Company and in respect of its shareholding in their Company and dividends, if any, received in relation to such holding.
Interests of Promoter in property of their Company
Their Promoter, Directors or Group Companies do not have any interest in any property acquired by their Company in the preceding three years before filing this Draft Prospectus. Further, they do not have any interest in any property to be acquired by their Company till the date of this Draft Prospectus.
Sigma Solve IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | 1101000 Equity Shares, aggregating up to Rs.495.45 Lakh |
| Of which: | |
| Reserved for Market Makers | 57000 Equity Shares, aggregating up to Rs.25.65 Lakh |
| Net Issue to the Public* | Up to 1044000 Equity Shares, aggregating up to Rs.469.80 Lakh |
| Of which: | |
| Non Retail Portion | 522000 Equity Shares, aggregating to Rs 234.90 Lakh |
|
Retail Portion
|
522000 Equity Shares, aggregating to Rs 234.90 Lakh |
| Equity Shares outstanding prior to the Issue | 3010000 Equity Shares |
| Equity Shares outstanding after the Issue | 4110000 Equity Shares |
Sigma Solve IPO Issue Object
These are the IPO Issue Objects of the company:
1. Acquisitions And Other Strategic Initiatives;
2. Investment in our Subsidiary;
3. General Corporate Purpose;
4. Public Issue Expenses
Sigma Solve IPO – Basis of the 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:
- User Experience Design
- Customer Focus
- Unique work culture
Sigma Solve IPO – Quantitative Factors
| Basic & Diluted EPS | RONW in % | NAV (Rs.) | |
| 31-Mar-18 | 2.31 | 42.44 | – |
| 31-Mar-19 | 3.42 | 38.58 | – |
| 31-Mar-20 | 2.47 | 19.52 | 11.06 |
- Price to Earnings (P/E) ratio in relation to Price band of Rs.45 per Equity Share
| Particulars | P/E ratio |
| Highest | – |
| Average | – |
| Lowest | – |
Sigma Solve Limited – Competitive Peers
Below are the top competitors:
| Sr. No. | Particulars | Face Value (in Rs.) | Basic EPS (In Rs.) | P/E Ratio | RONW (%) | NAV (In Rs.) |
| 1 | Sigma Solve Limited | 10 | 2.47 | 18.22 | 19.52% | 11.06 |
| 2 | Dev Information Technology Limited^ | 10 | 6.21 | 18.52 | 10.52 | 59.02 |
| 3 | Infobeans Technologies Limited^ | 10 | 10.04 | 12.49 | 16.37 | 60.78 |
| 4 | Innovana Thinklabs Limited^ | 10 | 20.52 | 4.26 | 29.71 | 37.08 |
Sigma Solve IPO Lead Managers
| Lead Managers |
|
BEELINE BROKING LIMITED
SEBI Registration Number: INM000012546 Address: 807, Phoenix Tower, Opp. New Girish Cold Drinks, Near Vijay Cross Roads, Navrangpura, Ahmedabad – 380 009 Telephone Number: +91 79 4840 5357 Email Id: mb@beelinemb.com Investors Grievance Id: ig@beelinebroking.com Website: www.beelinebroking.com Contact Person: Mrs. Khushbu Shah |
Sigma Solve IPO Registrar to Offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park, Lal Bahadur Shastri Marg Vikhroli (West) Mumbai, Maharashtra 400 083 Tel: +91 22 4918 6200 Email Id: sigma.ipo@linkintime.co.in Investors Grievance Id: sigma.ipo@linkintime.co.in Website: www.linkintime.co.in Contact Person: Ms. Shanti Goapalkrishnan CIN: U67190MH1999PTC118368 |
Other Details of Sigma Solve Ltd
- Statutory Auditor – M/s. A Y & Company
- Legal Counsel to the Company – Dhruvesh K. Trivedi
- Bankers to the Company – HDFC Bank Limited
Sigma Solve IPO Review by Top 10 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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