Systango Technologies Limited IPO : Key Details

Systango Technologies Limited IPO is set to launch on 2 March, 2023. The company initiated its business operations in 2004. It works in the field of providing software solutions to businesses. The companies can design, manage and implement their changes in their customised digital platforms through Systango. The offerings of the firm include Web2, Web3 and mobile applications. These are designed specifically for having a strong emphasis on data analytics.

The company offers its services to multiple segments like Property Tech, Hospitality, Fantasy Sports, Fintech, etc. The company has also had a technical and professional services provider for years to offer these services. 

Systango Technologies Limited IPO DETAILS

Systango Technologies Limited IPO is set to launch on 2 March., 2023. The subscription timeline extends till 6 March, 2023. The size for the IPO is 34.82 Crore Rs. Shares issued through fresh issue mode are worth 34.82 Crore Rs. No Shares are issued through offer for sale mode. The lot size is 1600 shares and the price is 85 to 90 Rs per share. The company is going to get listed at NSE SME. The face value per share is Rs.10 and this is a Book Built issue. The registrar for the company is Bigshare Services Private Limited.

Tabular Description of Systango Technologies Limited IPO

IPO OPENING DATE	2 March., 2023
CLOSING DATE FOR IPO	6 March, 2023
ISSUE TYPE	Book Built Issue
Face Value per share	10 Rs. per share
IPO price band	85 to 90 Rs per share
LOT SIZE	1600 shares
MINIMUM ORDER QUANTITY	1600 shares
ISSUE SIZE	34.82 Crore Rs.
OFFER FOR SALE	No shares are issued through offer for sale mode.
FRESH ISSUE	34.82 Crore Rs.
LISTING AT	NSE SME
LISTING DATE	15 March, 2023

Systango Technologies Limited IPO : IMPORTANT DATES

IPO OPENING DATE	2 March., 2023
CLOSING DATE FOR IPO	6 March., 2023
IPO ALLOTMENT DATE	10 March, 2023
REFUNDS	13 March, 2023
DEMAT A/C CREDITED ON	14 March, 2023
IPO LISTING DATE	15 March, 2023

Systango Technologies Limited IPO begins for subscription from 2 March., 2023. The IPO subscription would continue till 6 March, 2023. The allotment status for the shareholders who applied would come on 10 March, 2023. The refunds for the ones who did not get allotment would be initiated on 13 March, 2023. The DEMAT accounts of shareholders would be credited on 14 March, 2023. The listing of the company would be accompanied on 15, March 2023.

Systango Technologies Limited IPO : Lead Managers

The lead managers are :

• Hem Securities Limited

The minimum lot size for the company is decided at  1600 shares. This holding accounts to  144000 Rs.. The maximum lot size is decided at 3200 shares (HNI). This amounts to 288000 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	1600 shares	144000 Rs.
Maximum	3200 shares	288000 Rs.

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The money raised will be also utilised for the working capital requirements.
• The IPO money will also be used for further expansion of plans. It would also be used for Acquisitions and strategic development of the company.

COMPANY FINANCIALS

Particularly (in Lakh Rs.)	2019-20	2020-21	2021-22
ASSETS	744	1538	2289
Revenue	1455	2388	3392
PAT	251	568	677

Systango Technologies Limited had an asset base of 733 Lakh Rs in 2020 which increased to 1538 Lakh Rs in 2021 which is more than 2 times than the previous year. Further on in 2022 also the company’s asset base has increased to 2289 Lakh Rs. The revenue of the firm is 1455 Lakh Rs which increased to 2388 Lakh Rs in 2021 and 3392 Lakh Rs in 2022. Over the last 3 years the revenue of the company is constantly more than the assets which is a good sign for any company. 

The company also has a profitable financial statement over the last 3 years. The profit of the company was 251 Lakh Rs in 2020 which increased to 568 Lakh Rs in 2021 and 677 Lakh Rs in 2022. 

PROS

• Systango Technologies Limited works in the field of providing software solutions to businesses. For this purpose the company has also had a technical and professional services provider for years to offer these services.
• The company offers its services to multiple segments like Property Tech, Hospitality, Fantasy Sports, Fintech, etc.

CONS

• The company works in a highly competitive segment.

Systango Technologies Limited IPO APPLICATION PROCESS WITH ZERODHA

It is very easy to apply for an IPO now if you have a DEMAT account with Zerodha. Follow the steps below for the same :

1. Logging into Zerodha console through its website or KITE platform.
2. Clicking the IPO link present in the Portfolio section.
3. Click the Systango Technologies Limited IPO button and press the BID button.
4. Entering the details asked for like UPI ID, Quantity and price.
5. Submit the application form for the IPO.
6. Visiting the application of UPI for approving the transaction.

Now, applying for an IPO online is possible with most of the Discount and online brokers.