Esconet Technologies is scheduled to hit the market on February 16, 2024 and close on February 20, 2024. Esconet Technologies plans to raise around ₹28.22 Cr through an IPO with a sale of up to 3,360,000 equity shares of ₹10 each. The Retail offered 35%, QIB Shares Offered 50%, HNI Shares Offered 15%
Esconet Technologies Limited, established in 2012, specializes in providing advanced supercomputing solutions and comprehensive data center facilities, which encompass storage servers, network security, virtualization, and data protection. Its array of offerings includes Servers and Graphics Workstations, Comprehensive Data Storage Solutions, Virtualization Software, Backup and Disaster Recovery Solutions, Data Centre and Access Networks, Advanced Software Defined Networks, Network Security Tools, Email Communication Systems, Databases with High Availability, and Log Management and Analytics Software.
Additionally, the company offers an array of services such as IT Hardware Installation & Configuration, Deployment and Seamless Integration of Diverse IT Infrastructure Software, Infrastructure Management & Monitoring, Expertise in Private Cloud Setup and Management, Annual Maintenance Services, Managed Backup and Disaster Recovery Solutions, Data Migration Services, and Expert Consulting Services. Esconet also extends its services through its subsidiary ZeaCloud Services, providing cloud-based solutions tailored to meet various business needs including disaster recovery services, managed cloud services, private cloud, and DaaS services. The company's clientele includes prominent organizations such as the Ministry of Defence, National Informatics Centre-MeitY, Indian Institute of Technology, among others. As of November 30, 2023, Esconet Technologies Limited had a workforce of over 47 employees.
Esconet Technologies IPO Details
Esconet Technologies IPO opens on Feb 16, 2024, and closes on Feb 20, 2024. The Listing date for Esconet Technologies IPO is on Feb 23, 2024. The price band for IPO is ₹80 to ₹84 per share and lot size of 1600 Shares.
| IPO Date | Feb 16, 2024 to Feb 20, 2024 |
| Listing Date | Feb 23, 2024 |
| Price | ₹80 to ₹84 per share |
| Lot Size | 1600 Shares |
| Issue Size | ₹28.22 Cr |
| Face Value | ₹10 per share |
Esconet Technologies IPO Tentative Timetable
Esconet Technologies opening date is February 16, 2024 and close date is February 20, 2024. The IPO allotment date is February 21, 2024. The refund initiation of IPO is on February 22, 2024. The credit of shares in demat account is on February 22, 2024. The listing date is on February 23, 2024.
| Event | Date |
|---|---|
| IPO Opening | Feb 16, 2024 |
| IPO Closing | Feb 20, 2024 |
| IPO Allotment Date | Feb 21, 2024 |
| Refund Initiation | Feb 22, 2024 |
| Shares Credit to Demat | Feb 22, 2024 |
| Lisiting Date | Feb 23, 2024 |
Esconet Technologies IPO Lot Size
Lot Size of this IPO is 1600 shares. A retail-individual investor can apply for up to 1 lots (1600 shares or ₹134,400).
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail(Minimum) | 1 | 1600 | ₹134,400 |
| Retail(Maximum) | 1 | 1600 | ₹134,400 |
| HNI (Minimum) | 2 | 3200 | ₹268,800 |
Esconet Technologies IPO Promoter Holding
| Pre Issue Share Holding | 89.18% |
| Post Issue Share Holding | 64.94% |
Esconet Technologies IPO Review
Esconet Technologies Limited's recent IPO launch with a market capitalization of Rs 103.82 Cr has garnered significant attention. The company's financial data reveals a consistent upward trajectory in assets, revenue, and profit after tax, reflecting its robust performance. Notably, Esconet Technologies boasts an impressive Return on Equity (ROE) of 75.54% and Return on Capital Employed (ROCE) of 59.11%, underscoring its strong financial efficiency. Additionally, the Debt/Equity ratio of 1.99 indicates a balanced financial structure, while the Price/Book Value (P/BV) ratio of 1.16 suggests a reasonable valuation, making it an attractive option for potential investors.
Furthermore, the company has laid out clear objectives for utilizing the proceeds from the IPO, emphasizing the enhancement of its working capital, investment in its wholly owned subsidiary Zeacloud Services Private Limited, and coverage of general corporate expenses. This strategic allocation of funds underscores Esconet Technologies' commitment to fortifying its operational capabilities and expanding its business footprint. In essence, Esconet Technologies' IPO presents a compelling opportunity for investors to consider a company with a robust financial performance, well-defined fund utilization objectives, and promising growth prospects in the dynamic technology sector.
In conclusion, Esconet Technologies' IPO portrays a promising avenue for investors seeking to tap into a company with a track record of strong financial performance and a strategic vision for future growth. With its clear-cut objectives for fund deployment and favorable financial indicators, Esconet Technologies emerges as an enticing prospect in the ever-evolving landscape of technology investments.
Esconet Technologies IPO Subscription Status (Bidding Details)
Table not foundEsconet Technologies IPO Broker Recommendations
- Capital Market: To be updated soon
- Anand Rathi: To be updated soon
- SMC Global: To be updated soon
- Arihant Capital: To be updated soon
Esconet Technologies IPO FAQs
What is Esconet Technologies IPO?
Esconet Technologies is issuing 3,360,000 equity shares with a face value of ₹10 each, totaling up to ₹28.22 Cr. The shares are being offered at a price of ₹80 to ₹84 each, with a minimum order quantity of 1600 shares.
Skyline Financial Services Private Ltd is the registrar for the IPO, and the shares are planned to be listed on the BSE and NSE.
When Esconet Technologies IPO will open?
Esconet Technologies will open on February 16, 2024 for QIB, NII, and Retail Investors.
When Esconet Technologies IPO will end?
Esconet Technologies will end on February 20, 2024.
What is Esconet Technologies IPO Size?
Esconet Technologies IPO size is ₹28.22 Cr.
What is Esconet Technologies IPO Price Band?
Esconet Technologies price band is ₹80 to ₹84 per share.
What is the Esconet Technologies IPO Allotment Date?
Esconet Technologies allotment date is February 21, 2024.
What is the Esconet Technologies IPO Listing Date?
Esconet Technologies listing date is February 23, 2024. The IPO is to be listed on BSE and NSE.
How to Esconet Technologies IPO through Zerodha?
To apply for the IPO “Esconet Technologies” on Zerodha, log in to the Zerodha website or app, go to the Portfolio section, and click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Zerodha.
How to Apply Esconet Technologies IPO through Upstox?
To apply for the IPO “Esconet Technologies” on Upstox, log in to the Upstox website or app, click on IPO. Then, click on the “Apply” button and enter your UPI ID, the desired quantity, and the price. Submit the IPO application form and then approve the mandate on your UPI app. To complete the process, you should have an demat account. If you don't have one, open a demat account with Upstox.
How to check Esconet Technologies IPO Allotment Status?
For Esconet Technologies IPO Allotment status check you can visit this link, select the desired IPO and enter your PAN to check the allotment status.
What is Esconet Technologies IPO GMP?
You can check out here: Esconet Technologies IPO GMP