Systango Technologies IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Mar 06, 2023Let’s have a detailed review of the company and analytics of the Systango Technologies IPO release date, IPO offer price, subscription, Systango 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 85 to Rs 90 |
| Listing At | NSE, SME |
| Min. Order Quantity | 1600 Shares |
| Listing Date | Mar 15, 2023 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs Lakh |
| IPO Size | Rs 3,482 Lakh |
| Tick Size | 1 |
Systango Technologies IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Systango Technologies Share Price |
Systango Technologies IPO – Summary
They are engaged in the business of providing software solutions that enables companies to design, implement and manage their own customized digital platforms including Web2, Web3 and mobile applications with strong emphasis on data and analytics.
They provide range of software solution services including like: website development, mobile app development (both for iOS and Android applications), web3 development, DeFi (Decentralized finance), data engineering, implementation of blockchain, cloud computing, digital marketing etc for companies across sectors such as Financial Services (FinTech), Hospitality, Fantasy Sports, Property Tech etc.
The Promoter of this company is Vinita Rathi and Nilesh Rathi. The lead manager to the issue is HEM SECURITIES LIMITED, and the Registrar to this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Systango Technologies IPO Date
The opening and closing dates of Systango Technologies IPO are Mar 2, 2023 and Mar 6, 2023 respectively.
Systango Technologies IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – 2nd Mar | 0.00x | 0.96x | 3.24x | 1.28x |
| 2nd Day – 3rd Mar | 0.41x | 3.75x | 12.10x | 5.01x |
| 3rd Day – 6th Mar | 14.10x | 230.36x | 66.59x | 64.99x |
| Shares Offered or Net Issue | 1,833,600 | 552,000 | 1,286,400 | 3,672,000 |
The shares subscribed by the public will be updated here.
Systango 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.
Systango Technologies Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Mar 10, 2023 |
| Refunds Initiation | Mar 13, 2023 |
| Credit of Shares to Demat Account | Mar 14, 2023 |
| Share Listing Date | Mar 15, 2023 |
Systango Technologies IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs 85 to Rs 90
Systango Technologies IPO Equity Size
This Initial Public Issue of 3,868,800 Equity Shares of Rs.10 each for cash at a price of Rs 85 to Rs 90 per equity share aggregating to Rs.3,482 Lakh.
Systango Technologies IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 3,868,800 Equity Shares of Rs.10/ each.
Issue Size: 3,868,800 Equity Shares of Rs.10 each, aggregating to Rs.3,482 Lakh
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Systango Technologies IPO – Live Performance
The listing date of this IPO is Mar 15, 2023. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Systango Technologies Share Price |
Systango Technologies IPO Grey Market Premium
The Systango Technologies Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Systango Technologies IPO – Company Overview
Over the years their company has evolved as professional and technical service provider by offering end-to-end technology solutions and support.
The clients range from entrepreneurs and start-up enterprises to established companies, engaged in business of Fantasy Sports, transportation and logistics, Financial Services (FinTech) and various other industries including clients like Sila Inc, Urbansoft Sa(Pty)Ltd, Youtility Ltd, Ulster University, Ireland and others.
The Company’s revenue is primarily generated from exports sales and they are providing their services along with their subsidiaries to various clients spread across 10 countries. Their company is headquartered in Special Economic Zone (SEZs) of Indore that allows them to avail tax benefits as per SEZ norms.
Their operations are further facilitated through their wholly owned subsidiary Companies i.e. Isystango Ltd. in UK and Systango LLC in USA. They benefit from the expertise and experience of their Promoters Nilesh Rathi and Vinita Rathi, who have more than 15 years of experience individually in the associated industry.
Systango 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 | 2,644.25 | 2,364.19 | 1,570.66 | 744.32 |
| *Total Revenue | 2,137.91 | 3,434.23 | 2,421.18 | 1,455.31 |
| Total Expense | 1,622.50 | 2,586.47 | 1,710.08 | 1,162.66 |
| Profit After Tax | 436.18 | 712.09 | 595.83 | 251.88 |
Earnings per Equity Share (in Lakh)
| 30-Sep-22 | 31-Mar-22 | Mar-21 | 31-Mar-20 | |
| Basic & Diluted | 4.04 | 4.95 | 6.59 | 8.41 |
Further, their PAT for the period ended on Sep 30, 2022, March 31, 2022, March 31, 2021, and March 31, 2020, were Rs. 436.18 Lakh, Rs. 712.09 Lakh, Rs. 595.83 Lakh and Rs. 251.88 Lakh respectively.
Systango Technologies IPO – Promoters
The Promoter of this company is:
- Vinita Rathi
- Nilesh Rathi
List of Related Parties (Key Managerial Personnel)
- Vinita Rathi, Managing Director
- Nilesh Rathi, Whole Time Director & CFO
- Sarita Devi Khandelwal, Chairman & Non-Executive Director
- Vikas Jain, Independent Director
- Narender Tulsidas Kabra, Independent Director
Systango Technologies IPO – Promoters Holding
- Pre-Issue Share Holding – 97.73%
- Post Issue Share Holding – %
Systango Technologies IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 38,68,800 Equity Shares aggregating up to Rs.3,482 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to 1,96,800 Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to 36,72,000 Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than 12,86,400 Equity Shares |
| Other than Retail Individual Investors | Not more than 5,52,000 Equity Shares |
| Equity Shares outstanding prior to the Issue | 1,08,00,000 Equity Shares |
| Equity Shares outstanding after the Issue | 1,46,68,800 Equity Shares |
Systango Technologies IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Strategic Investment and Acquisitions;
2. Investment in Subsidiaries;
3. To Meet Working Capital Requirements;
4. General Corporate Purposes;
5. Issue Expenses.
Systango Technologies IPO – Business Strategy
- Grow their business by enhancing their technological capabilities and expanding their domain expertise
- Evaluate strategic acquisition and alliance opportunities
- Continue to maintain strong relationships with their customers
- Attract, develop and retain highly-skilled employees
Systango 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:
- Qualified and Experienced Promoters and Employee base
- Diversified revenue from multiple geographies
- Diversified Client base
- End-to-end solutions and support
- Strong User Interface (UI)/ User Experience (UX) Design Capabilities and hyper-focus on customer success
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-22 | 6.59 | 39.89% | 16.53 |
| 31-Mar-21 | 5.52 | 55.53% | 9.94 |
| Mar-20 | 2.33 | 52.83% | 4.41 |
Systango Technologies IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Lakhs) | |
| Systango Technologies Limited | 10 | [●] | 6.59 | 39.89% | 2239.39 |
| Listed Peers | |||||
| InfoBeans Technologies Ltd | 10 | 24.29 | 22.82 | 23.88% | 28,898 |
| Innovana Thinklabs Limited | 10 | 32.70 | 20.46 | 24.92% | 6,192 |
| Ksolves India Ltd | 10 | 34.28 | 12.88 | 93.63% | 4,833 |
Systango Technologies IPO Lead Managers
| Lead Managers |
| Hem Securities Limited Address: 904, A Wing, Naman Midtown, Senapati Bapat Marg, Elphinstone Road, Lower Parel, Mumbai-400013, Maharashtra, India Tel. No.: +91- 022- 49060000; Fax No.: +91- 022- 22625991 Email: ib@hemsecurities.com Investor Grievance Email: redressal@hemsecurities.com Website: www.hemsecurities.com Contact Person: Ajay Jain SEBI Regn. No. INM000010981 |
Systango Technologies IPO Registrar to offer
| Registrar to the Offer |
| Bigshare Services Private Limited Address: S6-2, 6th Floor, Pinnacle Business Park, Next to Ahura Centre, Mahakali Caves Road, Andheri (East) Mumbai – 400093, Maharashtra, India. Telephone: +91 22 6263 8200; Facsimile: +91 22 6263 8299 Email: ipo@bigshareonline.com Investor Grievance Email: investor@bigshareonline.com Website: www.bigshareonline.com Contact Person: Babu Raphel SEBI Registration Number: MB/INR000001385 CIN: U99999MH1994PTC076534 |
Systango Technologies IPO – Other Details
- Statutory Auditor – M/s. NBA & Associates
- Legal Counsel to the Company – Vedanta Law Chambers
- Bankers to the Company – Axis Bank Limited
Systango 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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Systango Technologies Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Systango Technologies IPO Review FAQs
Check out various FAQs related to Systango Technologies IPO:
What is the Issue Size of Systango Technologies IPO?
The Company is making an initial public offer of 3,868,800 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 Systango Technologies IPO?
The price band for this particular IPO ranges between Rs 85 to Rs 90. As far as the face value of the share is of concern, it is Rs.10 per share.
What is the Systango Technologies IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on Mar 2, 2023, while the closing date is set at Mar 6, 2023.
What is the Systango Technologies IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on Mar 10, 2023, refund initiation is on Mar 13, 2023, credit of shares is on Mar 14, 2023, and share listing date is on Mar 15, 2023.
What is the Systango Technologies IPO Listing Date?
Shares of this company shall be listed in the exchanges Mar 15, 2023. The date, when the listing would be done, is stagnant on Mar 15, 2023.
Who is the Registrar of Systango 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 Systango Technologies?
Here are the promoters of this IPO – Vinita Rathi and Nilesh Rathi. 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 Systango Technologies IPO?
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 Systango Technologies 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 Systango 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 712.09, 2021 is 595.83, and 2020 is 251.88. PAT from Sep 2022 is 436.18.
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