Esconet Technologies IPO: The initial public offer of Esconet Technologies will close tomorrow (February 20). Through the issue, the company aims to raise ₹28 crore and list the shares on NSE SME. Founded in 2012, the company covers a wide range of IT requirements- supercomputing solutions, data centre facilities, storage servers, network security, virtualization as well as data protection.
Esconet Technologies IPO: What is the IPO size?
The IPO includes an entirely fresh equity issue of 33.6 lakh shares through which the company aims to raise ₹28 crore.
Esconet Technologies IPO: What is the price band?
The company is offering its shares at ₹80-84 apiece. Investors can bid for 1,600 shares in 1 lot.
Esconet Technologies IPO: What is the performance of the company?
For the period ending September 2023, the company’s revenue stood at ₹71.4 crore while its net profit of ₹3.05 crore.
Esconet Technologies IPO: How will the company use proceeds?
The net proceeds from the public offer will be used for working capital requirements and general corporate purposes, the company said.
Esconet Technologies IPO: Who are the lead managers and registrar?
Corporate Capital Ventures is the lead manager and Skyline Financial Services is the registrar of the issue.
Esconet Technologies IPO: What is the structure of the issue.
Almost 50% of the offer is reserved for qualified institutional buyers. Retail investors get 35% and the rest 15% is for non-institutional investors.
Esconet Technologies IPO: When is the final allotment?
The final allotment is likely be made on February 21.
Esconet Technologies IPO: When is the listing?
The company’s shares may get listed on February 23.h
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