Sancode Technologies, a leading provider of enterprise software solutions, is set to open its initial public offering (IPO) on the Bombay Stock Exchange (BSE) SME platform today. The company is offering up to 1.5 crore equity shares of face value of Rs 10 each at a price band of Rs. 50-52 per equity share.
The IPO is being managed by A.K. Capital Services Ltd. and Bigshare Services Pvt. Ltd. are the book running lead managers to the issue. The issue will close on April 28, 2021.
Sancode Technologies is a leading provider of enterprise software solutions, including enterprise resource planning (ERP) solutions, customer relationship management (CRM) solutions, and business intelligence (BI) solutions. The company has a strong presence in the Indian market and has been providing its services to a wide range of customers, including large enterprises, small and medium enterprises (SMEs), and government organizations.
The company has a strong track record of delivering high-quality solutions to its customers. It has a strong customer base and has been able to maintain a high level of customer satisfaction. The company has also been able to maintain a healthy financial position, with a net profit of Rs. 5.2 crore in the financial year 2020.
The company has set a floor price of Rs. 50 per equity share and a cap price of Rs. 52 per equity share. The issue size is Rs. 75 crore and the company has set a minimum lot size of 1,000 equity shares. The company has also set a green shoe option of up to 15% of the issue size.
The company has set a minimum subscription amount of Rs. 5,000 and in multiples of Rs. 1 thereafter. The company has also set a minimum market lot of 1,000 equity shares and in multiples of 1,000 equity shares thereafter.
The company has set a grey market premium (GMP) of Rs. 2-4 per equity share. The GMP is an indication of the demand for the issue and the expected listing gains.
The company has set a face value of Rs. 10 per equity share and the issue price is at a premium of 400-500% to the face value. The company has set a post-issue market capitalization of Rs. 462.5 crore at the upper price band.
The company has set a listing date of May 7, 2021. The company has set a listing on the BSE SME platform and the shares will be listed on the BSE SME Exchange.
Sancode Technologies is a leading provider of enterprise software solutions and has a strong presence in the Indian market. The company has a strong customer base and has been able to maintain a high level of customer satisfaction. The company has also been able to maintain a healthy financial position. The company has set a floor price of Rs. 50 per equity share and a cap price of Rs. 52 per equity share. The company has also set a green shoe option of up to 15% of the issue size. The company has set a grey market premium (GMP) of Rs. 2-4 per equity share. The company has set a face value of Rs. 10 per equity share and the issue price is at a premium of 400-500% to the face value. The company has set a post-issue market capitalization of Rs. 462.5 crore at the upper price band. The company has set a listing date of May 7, 2021. The company has set a listing on the BSE SME platform and the shares will be listed on the BSE SME Exchange.