SSBA Innovations IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Sep 02, 2023The technology-driven company SSBA Innovations is upcoming with an all-Fresh Issue IPO.
The company is aiming to raise funds of up to Rs. 105 crores from the public issue. The SSBA Innovations IPO consists of only a Fresh issue whose quantum is not determined.
In this SSBA Innovations IPO Review, we will be talking in detail about the company, its operations, products and services, promoters, and directors, details of the IPO, IPO dates, price, size, IPO GMP, and many other related aspects that will help you take the investment decision in this IPO.
| Face Value | Rs 10 |
| Price Band | Rs.X to Rs.X |
| Listing At | BSE, NSE |
| Min. Order Quantity | Not Disclosed |
| Listing Date | Not Disclosed |
| Offer for Sale | – |
| Fresh Issue | Rs.105 Crore |
| IPO Size | Rs.105 Crore |
| Tick Size | 1 |
SSBA Innovations IPO Overview
SSBA Innovations is a financial products and services entities catering to the customers with a wide range of options and facilities and taking care of their savings. The company is now all set to go public and list its shares on the stock exchanges.
The company has knocked on the door of SEBI to seek its approval for the launch of the IPO.
SSBA Innovations IPO will be a Fresh issue of Equity Shares aggregating up to Rs. 105 crores.
SSBA Innovations IPO Important Dates
| Events | Date |
| IPO Opening Date | Not Disclosed |
| IPO Closing Date | Not Disclosed |
| Basis of Allotment Finalization | Not Disclosed |
| Refunds Initiation | Not Disclosed |
| Credit of Shares to Demat Account | Not Disclosed |
| Share Listing Date | Not Disclosed |
Draft Red Herring Prospectus (DRHP) has been filed by SSBA Innovations on July 29th, 2022 with SEBI for obtaining its permission and move ahead with the IPO. Once, the IPO is approval SSBA Innovations IPO Dates will be declared.
IPO dates will include the opening and closing dates of the IPO subscription period, IPO listing date, allotment date, and refund initiation date. IPO opening date is the date when the shares are first made available to the investors for subscription.
SSBA Innovations IPO Price, Size, Share Offerings
| Face Value | Rs.10 |
| Price Band | Rs.X to Rs.X |
| Offer for Sale | – |
| Fresh Issue | Rs.105 Crore |
| IPO Size | Rs.105 Crore |
SSBA Innovations IPO Size and SSBA Innovations IPO Price will be determined by the company in consultation with the Book Running Lead Managers through the Book Building Process. The company has filed the preliminary papers with the authority, it will obtain their approval and thereafter will take the IPO launch further.
The face value of the offered Equity shares is Rs. 10 each. This is a mainline IPO and the shares will be listed on BSE and NSE.
SSBA Innovations IPO Grey Market Premium
| Date | GMP (Rs.) | Kostak Rate (Rs.) | Subject to Sauda (Rs.) |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
| NA | NA | NA | NA |
Grey Market is an unofficial and unregulated market place for the securities of a company whose shares are not listing on the stock exchanges. The trading takes place before the IPO of the company. It helps in estimating and finding out the listing price of the equity shares.
Investors bid in the IPOs according to the trading prices of this market. SSBA Innovations IPO GMP will be available after the IPO dates are determined and will offer guidance to traders and investors.
SSBA Innovations IPO Subscription Status
| Day / Date | QIB | NII | RII | Emp | Total Subscription |
| 1st Day – | |||||
| 2nd Day – | |||||
| 3rd Day – | |||||
| Shares Offered or Net Issue |
Subscription of an IPO is the opening for investors to bid and invest in the IPO so as to attain allotment in the shares of the issuer company. The company opens IPO for a specific period of time and the entire IPO process is undertaken as per the stated regulations of SEBI and other regulatory authority in this regard.
SSBA Innovations IPO Subscription period will also range within the period laid down by the regulations and rules.
SSBA Innovations IPO Allotment Status
The SSBA Innovations IPO Allotment basis will be determined based on the demand of the shares of the company offered in the IPO. Once the basis of allotment is decided, the company will undertake the allotment of shares in the Demat accounts of the successful bidders.
SSBA Innovations IPO Live Performance
Know in detail about the SSBA Innovations IPO Performance in the market and the prevailing SSBA Innovations IPO Price. Trade smartly with the right information and yield high returns.
Subscribe to SSBA Innovations IPO – Open Free Demat Account Now!
SSBA Innovations – Company Review
The company was established in 2017 only and within a short time span, it has built strong platforms for the customers which caters for their investment and tax filing related queries and requirements.
The company was initially incorporated in the form of a private limited company, SSBA Innovations Private Limited, in Mumbai. Later, in May 2022 the company was converted into a public company for widening its area of operations and funding.
The technology driven company is engaged in the business of financial products and diverse services and it supply its facilities to the users by means of online platforms. The platforms are highly advanced and easily accessible.
Products or Services
The company is technology driven and stay up top with the latest innovations in order to help its users with the best options available in the market.
SSBA Innovations operates through its online platforms offering varied features and facilities to its users. The platforms are:
- TaxBuddy
- Finbingo
With TaxBuddy, the company offers tax planning and filing assistance for the users. From Tax planning and filing, to IT Notice Management, you get all tax solutions in one place with this platform.
The other platform Finbingo helps with financial solutions like advisory, planning, and wealth management.
Promoters and Holding
The promoters of SSBA Innovations are:
- Sujit Sudhakar Bangar
- Atul Umakant Rege
The management of the company comprises of the following:
- Sujit Sudhakar Bangar, in the position of Chairman and Managing Director
- Atul Umakant Rege, in the position of Whole Time Director
- Aparna Sujit Bangar, in the position of Non- executive Director
- Pankaj Singhania, in the position of Independent Director
- Siddharth Shah, in the position of Independent Director
- Rasesh Vrajeshkumar Thakore, in the position of Independent Director
- Srinivas Reddy, in the position of Chief Technology Officer
- Sanjay Sharadchandra Godbole, in the position of Chief Business Officer
- Samir Jayaswal, in the position of Head of Finbingo.com platform
- Shrenik Mahendra Doshi, in the position of Chief Financial Officer
- Supriya Vijay Utekar, in the position of Company Secretary and Compliance Officer
Is SSBA Innovations good for Investment?
SSBA Innovations was set up 2017, and it has been about 5 years of its operations. With its distinctive financial solutions and services platforms, the company is assisting users in various manners. The company owns and runs two different online platforms, TaxBuddy, and Finbingo. These apps helps with tax planning and filing, and financial planning.
SSBA Innovations was started as a private limited company which is now a public company. Driven by technology, the company offers meaningful solutions which caters today’s requirements. They understand what the user need and transmute that requirement to serve them.
The platform can be useful for individuals, professionals, HUF, firms, companies any other person registered on the platforms.
SSBA Innovations Financial Statements
| Amount (in INR & Thousands) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Assets | 93,625.85 | 90,269.36 | 59,917.04 |
| Revenue | 19,728.81 | 4,556.90 | 722.92 |
| Expense | 106,621.18 | 31,405.69 | 5226.62 |
| Profit After Tax | (88,634.91) | (27,528.83) | (4,459.65) |
Let’s see the financial statements of the company now. SSBA Innovations’ revenue have expanded largely from the last year.
The company’s total income in the years 2022, 2021, and 2020 were – Rs. 19,728.81 thousand, Rs. 4556.90 thousand, and Rs. 722.92 thousand, respectively.
The company has incurred year-on-year losses in the past years. The company’s losses in the years 2022, 2021, and 2020 were – Rs. (88,634.91) thousand, Rs. (27,528.83) thousand, and Rs. (4,459.65) thousand, respectively.
| Earnings per Equity Share (in Million) | |||
| 31-Mar-22 | 31-Mar-21 | Mar-20 | |
| Basic & Diluted | (10.73) | (3.97) | (1.14) |
The Earning per Share of SSBA Innovations is negative. As of March 2022, the EPS was Rs. (10.73) and as of March 2021, the EPS was Rs. (3.97).
SSBA Innovations IPO Review
SSBA Innovations IPO is entirely a Fresh Issue of Equity Shares to funds of Rs. 105 crores. Company’s promoters, or any investors will not be offloading their shares in the IPO to lower their holdings.
The proceeds of the fresh issue will be utilized towards user acquisition and business development. The IPO will help the entity gain resources to refine the operations and grow in future.
The company is led by a strong team of individuals having brief experience of the field and they bring their expertise to improvise the facilities in every bit.
SSBA Innovations has over 3,40,000+ users presently and the count is expanding continuously.
SSBA Innovations IPO Details
Here are few more details you need to know before investing in SSBA Innovations IPO –
SSBA Innovations IPO Issue Object
The SSBA Innovations has proposed diverse objectives for making the IPO offer and some of the objectives are:
- User acquisition and business development
- Technological development
- General corporate purposes
SSBA Innovations 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:
- Seamless filing services compatible on multiple delivery channels offers ease of access;
- Mobile first approach driving better User engagement and experience;
- In-house full-stack technology capabilities offering security and third party integration;
- Experienced promoters and management supported by a qualified and experienced employee base;
- Subscription plans of our TaxBuddy platform caters to different needs of Subscribers at a reasonably low and affordable cost;
- One-stop solution for all tax related queries round the year;
- Asset Light Model; and
- High level of User satisfaction.
Quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | (10.73) | (149.30) | 7.19 |
| 31-Mar-21 | (3.97) | (37.81) | – |
| Mar-20 | (1.14) | (8.02) | – |
SSBA Innovations IPO Lead Managers
Here are the list of Lead managers –
- Systematix Corporate Services Limited
SSBA Innovations IPO Registrar to offer
Check out the details of the registrar here –
MAS Services Limited
Address: T-34, 2nd floor, Okhla Industrial Area, Phase II, New Delhi 110 020, Delhi, India.
Telephone: +91 11 26387281/82/83
E-mail: info@masserv.com
Investor Grievance E-mail: investor@masserv.com
Website: www.masserv.com
Contact Person: Sharwan Mangla
SEBI Registration Number: INR000000049
SSBA Innovations IPO – Other Details
- Statutory Auditor – M/s. V. A. Parikh & Associates LLP
- Legal Counsel to the Company – DSK Legal, Advocates & Solicitors
- Bankers to the Company – Kotak Mahindra Bank Limited
SSBA Innovations IPO – Conclusion
The SSBA Innovations IPO is a good deal for the investors. The company is coming up with entirely a Fresh Issue with no share sale by the existing shareholders. Also, in the objects of the IPO, the companies has stated growth plans to increase their users and expand their business.
The company is not yet a profit making entity, but the area of operations have the potential to bring it out of the loss shadows.
Investors shall consider the IPO investment after a thorough read in the risk and growth prospects of the company.
To Subscribe to SSBA Innovations IPO – Open Demat Account Now!
SSBA Innovations IPO Review FAQs
Check out the FAQs on SSBA Innovations IPO –
What is the Issue Size of SSBA Innovations IPO?
The Company is making an initial public offer of NA 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 SSBA Innovations IPO?
The price band for this particular IPO ranges between Rs.462 to Rs.487. As far as the face value of the share is of concern, it is Rs.1 per share.
What is the SSBA Innovations IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on May 11, 2022, while the closing date is set at May 13, 2022.
What is the SSBA Innovations IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO.
Basis of Allotment finalization is on May 19, 2022, refund initiation is on May 20, 2022, credit of shares is on May 23, 2022, and share listing date is on May 24, 2022.
What is the SSBA Innovations IPO Listing Date?
Shares of this company shall be listed in the exchanges May 24, 2022. The date, when the listing would be done, is stagnant on May 24, 2022.
Who is the Registrar of SSBA Innovations IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of SSBA Innovations IPO?
Here are the promoters of this IPO – PROFESSIONALLY MANAGED. 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 SSBA Innovations IPO?
They have obtained the GMP of this IPO and it is (Rs.10. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Is SSBA Innovations IPO 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 SSBA Innovations Company?
They have the information of company financials, and according to that, they have the figures from the last few years to provide.
PAT for the financial year 2022 in Million is (88,634.91), 2021 is (27,528.83), and for 2020 is (4,459.65).
Featured Topics