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Esconet Tech IPO

Esconet Technologies IPO

  • Status: Closed
  • RHP:
  • ₹ 128,000 / 1600 shares

    Minimum Investment

IPO Details

  • Open Date

    16 Feb 2024

  • Close Date

    20 Feb 2024

  • IPO Price Range

    ₹ 80

  • IPO Size

    ₹ 28.22 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    23 Feb 2024

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IPO Timeline

Esconet Technologies IPO Subscription Status

Last Updated: 20 February 2024 6:23 PM by 5Paisa

Esconet Technologies Limited IPO is all set to open from 16th February to 20th February 2024. The company offers a diverse range of  IT requirements. The IPO includes a fresh issue of 3,360,000 shares worth ₹28.22 cr. The share allotment date is 21st February 2024, and the IPO will be listed on 23rd February 2024 on the stock exchanges. The price band is ₹80 to ₹84 and the lot size is 1600 shares.        

Corporate Capital Ventures Private Limited is the book-running lead manager for this IPO, while  Skyline Financial Services Private Limited is the registrar. 

Objectives of Esconet Tech IPO:

 Esconet Technologies Limited plans to utilize the raised capital from the IPO to:

●    To invest and provide capital expenditure requirements to the wholly-owned subsidiary Zeacloud Services Private Limited.
●    To meet working capital requirements. 
●    General corporate purposes.

Established in 2012, Esconet Technologies Limited offers a diverse range of  IT requirements for SMEs, large enterprises, and public sector clients. This includes high-performance supercomputing solutions, data centre facilities, encompassing storage servers, network security, virtualization, and data protection. The company also provides cloud services via its wholly-owned subsidiary, ZeaCloud Services. It offers high-performance Servers, Workstations, and storage systems under the brand name of HexaData.

Some of the reputed clients of Esconet Technologies include Ministry of Defence, National Informatics Centre-MeitY, National Informatics Centre Services Inc. – MeitY, Indian Institute of Technology, Indraprastha Institute of Technology Limited, Bharat Electronics Limited, Oil & Natural Gas Commission Limited, Engineers India Limited, Hindustan National Glass & Industries Limited, etc. 

The company also has a strategic collaboration with NVIDIA, which has provided for its growth in the space of Artificial Intelligence (AI) and Machine Learning (ML).


Peer Comparison

●    E2e Networks Limited
●    Netweb Technologies India Limited

For More Information:
Webstory on Esconet Technologies IPO

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue from operations 94.66 68.56 44.11
EBITDA 6.37 2.02 0.11
PAT 3.04 0.72 -1.00
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 27.61 25.87 17.48
Share Capital 0.767 0.767 0.767
Total Borrowings 22.07 23.37 15.70
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -1.70 0.80 -0.22
Net cash from / (used in) investing activities -0.23 -1.47 -0.59
Net cash flow from / (used in) financing activities 2.13 0.63 -1.78
Net increase (decrease) in cash and cash equivalents 0.19 -0.041 -2.59


Strengths

1.    The company has strategic collaborations with NVIDIA, CISCO, etc.
2.    It also has strong and long-standing customer relationships.
3.    It has worked with various well-known public and private sector enterprises. 
4.    Experienced Promoter and management team
 

Risks

1.    The top five clients contribute majorly to the revenues and in the last three years, a significant portion of revenues from operations are from Government Projects. 
2.    It has reported negative cash flows in the past.
3.    The company is subject to evolving laws regarding privacy, data protection, and other related matters.
4.    Operates in a highly competitive industry. 
 

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FAQs

Esconet Technologies IPO opens from 16th February to 20th February 2024.
 

The size of Esconet Technologies IPO is ₹28.22 cr. 

To apply for Esconet Technologies IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the  Esconet Technologies Limited IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
You will receive a mandate notification to block funds in your UPI app.

The price band of Esconet Technologies IPO is fixed at ₹80 to ₹84 per share. 

The minimum lot size of Esconet Technologies IPO is 1600 shares and the investment required is ₹1,28,000.

The share allotment date of Esconet Technologies IPO is 21st February 2024.

The Esconet Technologies IPO will be listed on 23rd February 2024.

Corporate Capital Ventures Private Limited is the book-running lead manager for Esconet Technologies IPO.

Esconet Technologies Limited plans to utilize the raised capital from the IPO to:

1.    To invest and provide capital expenditure requirements to the wholly-owned subsidiary Zeacloud Services Private Limited.
2.    To meet working capital requirements. 
3.    General corporate purposes.