What you should know about Enser Communications IPO?

About Enser Communications Ltd

Established in 2008, Enser Communications Limited specializes in Business Process Management (BPM) services catering to various sectors including insurance, e-commerce, education and travel. The company operates across four primary business verticals Customer Acquisition Services, Customer Services, IT Infrastructure Management Services and Data Management Services.

Within these verticals, Enser offers a wide array of services such as business analytics, customer relationship management (CRM), interactive voice response systems (IVRS), customer interaction management solutions, technology enabled infrastructure development, payment reminder/collection/subscription collection solutions, process re-engineering, transaction monitoring systems, ERP implementation and maintenance, application development for CRM, web chat services, application/transaction processing, debt collection, sales & lead generation, customer support, business process outsourcing (BPO)/business process management (BPM), knowledge process consulting, contact center services, and customer acquisition services.

Among its notable clientele are Ola Financial Services Pvt Ltd, Acko General Insurance Limited, Metis Eduventures Pvt Ltd, National Health Authority (Government), Reliance Nippon Life Insurance Company Ltd, Class 21A Technologies Pvt Ltd, Girnar Finserv Pvt ltd, Gaadi web Private Limited, Acko Technology & Services Pvt ltd and G C web ventures Pvt Ltd. As of December 31, 2023, Enser Communications Limited has a total of 780 full-time employees.

Key Highlights of Enser Communications IPO

Here are some of the highlights of the Enser Communications IPO

• Enser Communications IPO will be open from 15 March 2024 to 19 March 2024. Enser Communications IPO has a face value of ₹10 per equity share and the price band for the  Enser Communications IPO has been fixed at ₹70 per share.
• The IPO of Enser Communications Ltd has only a fresh issue component and no offer for sale (OFS) portion.
• As part of the fresh issue portion of the IPO, Enser Communications will issue a total of 23.1 lakh shares, at the fixed price of the IPO at ₹70 per share to raise fresh funds of ₹16.17 crores.
• Since Enser Communications contains no offer for sale portion the total IPO size is equivalent to the fresh issue size of the IPO which is ₹16.17 crores.
• The company has been promoted by Mr. Harihara Subramanian Iyer, Mr. Rajnish Omprakash Sarna, Mrs. Gayatri Rajnish Sarna and Mrs. Sindhu Saseedharan Nair. Before the listing, promoter holding in the company stands at 90.13%, post listing promoter equity holding will diluted to 66.25%
• The raised funds will be used for to invest in IT Infrastructure, meeting working capital needs and general corporate purposes.
• Fast Track Finsec Pvt Ltd serves as the book running lead manager for the Enser Communications IPO, while Skyline Financial Services Private Ltd has been appointed as the registrar for the issue. B.N. Rathi Securities will act as the market maker for the Enser Communications IPO.

Enser Communications IPO allocation and lot size for investment

The net offer will be distributed between retail investors and other investors equally. The allocation breakdown for the overall IPO of Enser Communications Ltd is mentioned below.

Lot sizes for investing in the Enser Communications IPO

The minimum lot size for Enser Communications IPO investment is 2000 shares, equivalent to ₹140,000 (2000 shares x ₹70 per share), which is also the maximum for retail investors. For Enser Communications HNI/NII investors can invest in a minimum of 2 lots, totaling 4000 shares with a minimum value of ₹2,80,000. Below is the breakdown of lot sizes and amount for different categories.

Key dates for Enser Communications IPO?

Enser Communications IPO will open for subscription on Friday, 15 March 2024 and close on Tuesday, 19 March 2024. The bidding period for the Enser Communications IPO will be from 15 March 2024, starting at 10:00 AM, until 19 March 2024, closing at 5:00 PM. For Enser Communications IPO cut-off time for UPI Mandate confirmation is 5:00 PM on the closing day of the IPO, which falls on 19 March 2024.

In ASBA applications, when you apply for the IPO the total amount of IPO gets temporarily blocked in your bank account. However, this amount is not deducted immediately. After the shares are allotted, only the amount for the allotted shares is taken from the blocked funds. The rest of the blocked amount is automatically released back to your bank account without needing any refund process.

Financial highlights of Enser Communications Ltd

The table below captures the key financials of Enser Communications Ltd for the last 3 completed financial years.

Profit after Tax for Enser Communications Limited has shown growth over the past three fiscal years. In FY21, the PAT stood at ₹-11.74 Lakhs, PAT increased in FY22 to ₹77.92 Lakhs reflecting an improvement in profitability. The most recent year FY23 witnessed a surge in PAT reaching ₹160.06 Lakhs.

Enser Communications Vs Peer Comparison

Compared to its competitors, Enser Communications has the lowest EPS of 2.66, whereas its listed peer eClerx Services holds the highest EPS among its peers standing at 76.45. A higher EPS is seen as more favorable.