Esconet Technologies Limited IPO : Key Highlights

Esconet Technologies Limited IPO is set to launch on 16 February, 2023. The company initiated its business operations in the year 2012. The company provides high end supercomputing solutions and data centre facilities that include network security, storage servers, data protection and virtualization. Various services offered by the company include comprehensive data storage solutions, backup and disaster recovery solutions, advanced software defined networks, data centre and access networks, network security tools, databases with high availability, Log management and analytics software etc. The client base of the company includes ONGC, Indraprastha Institute of technology, IIT, Hindustan national glass and industries Limited, Engineers India Limited etc. The company had an employee base of 47 people.

Esconet Technologies Limited IPO DETAILS

Esconet Technologies Limited IPO is set to launch on 16 February, 2023. The subscription timeline extends till 20 February, 2023. The size for the IPO is 28.22 Crore Rs. Shares issued through fresh issue mode are worth Rs 28.22 Crore. No shares are issued through offer for sale mode. The lot size is 1600 shares and the price is 80 Rs to 84 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 Skyline Financial Services Private Limited.

Tabular Description of Esconet Technologies Limited IPO

IPO OPENING DATE	16 February, 2023
CLOSING DATE FOR IPO	20 February, 2023
ISSUE TYPE	Book Built Issue
Face Value per share	10 Rs. per share
IPO price band	80 Rs to 84 Rs per share
LOT SIZE	1600 shares
MINIMUM ORDER QUANTITY	1600 shares
ISSUE SIZE	28.22 Crore Rs.
OFFER FOR SALE	No shares are issued through offer for sale mode
FRESH ISSUE	28.22 Crore Rs.
LISTING AT	NSE SME
LISTING DATE	23 February, 2023

Esconet Technologies Limited IPO: IMPORTANT DATES

IPO OPENING DATE	16 February, 2023
CLOSING DATE FOR IPO	20 February, 2023
IPO ALLOTMENT DATE	21 February, 2023
REFUNDS	22 February, 2023
DEMAT A/C CREDITED ON	22 February, 2023
IPO LISTING DATE	23 February, 2023

Esconet Technologies Limited IPO begins for subscription from 15 February, 2023. The IPO subscription would continue till 20 February, 2023. The allotment status for the shareholders who applied would come on 21 February, 2023. The refunds for the ones who did not get allotment would be initiated on 22 February, 2023. The DEMAT accounts of shareholders would be credited on 22 February, 2023. The listing of the company would be completed on 23 February, 2023.

Esconet Technologies Limited IPO: Lead Managers

The lead managers are :

• Corporate Capital Ventures Private Limited

The minimum lot size for the company is decided at 1600 shares. This holding accounts to 134400 Rs.. The maximum lot size is decided at 3200 shares (HNI). This amounts to 268800 Rs.. Hence the company’s final holdings would be set as :

	Shares	Amount
Minimum	1600 shares	134400 Rs.
Maximum	3200 shares	268800 Rs.

OBJECTIVES FOR THE IPO

• IPO proceeds would be used for general corporate purposes.
• The company will use the IPO money for further working capital requirements.

COMPANY FINANCIALS

Particularly (in Lakh Rs.)	March 2023	September 2023
Asset	2798	4260
Revenue	9690	7146
PAT	304	305

Esconet Technologies Limited had an asset base of 4260 Lakh Rs in March. This became 4260 Lakh Rs in September 2023. The revenue of the company is 9690 Lakh Rs in 2023. This became 7146 lakh Rs in September 2023. The profit of the company was 304 Lakh Rs in 2023. This was 305 Lakh Rs in September 2023.

PROS

• Various services offered by the company include comprehensive data storage solutions, backup and disaster recovery solutions, advanced software defined networks, data centre and access networks, network security tools, databases with high availability, Log management and analytics software etc.
• The client base of the company includes ONGC, Indraprastha Institute of technology, IIT, Hindustan national glass and industries Limited, Engineers India Limited etc.
• The company had an employee base of 47 people.

Esconet 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. Clicking the IPO section present in the ORDER tab.
2. Click the Esconet Technologies Limited IPObutton and press the BID button.
3. Entering the details asked for like UPI ID, Quantity and price.
4. Submit the application form for the IPO.
5. 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.