₹28.22 crore. Esconet Technologies is a provider of high-end supercomputing solutions, and data center facilities that include storage servers, network security, virtualization, and data protection. The company has announced the price band and other details for the forthcoming public offer.
Esconet Technologies IPO opens for subscription on Friday, February 16, and closes on Tuesday, February 20. The IPO allotment is expected to be finalized on February 21. Esconet Technologies IPO price band is set at ₹80 to ₹84 per share.
The IPO lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹134,400. The company plans to raise ₹28.22 crore from the IPO that is entirely a fresh issue of 33.6 lakh equity shares. Also Read: Ritesh Agarwal's OYO eyes expedited IPO post profit surge, seeks SEBI nod Esconet Technologies IPO will list on NSE SME with a tentative listing date fixed on February 23.
The company proposes to utilise the fresh issue proceeds towards working capital requirements, investment in Wholly Owned Subsidiary, viz. Zeacloud Services Private Limited, to fund its capital expenditure expenses, and general corporate expenses. Corporate Capitalventures Pvt Ltd is the book running lead manager of the Esconet Technologies IPO, while Skyline Financial Services Private Ltd is the IPO registrar.
Also Read: Jana Small Finance Bank IPO: GMP signals positive debut of shares Esconet Technologies reported a net profit of ₹3.04 crore in the financial year ending March 2023. Its revenue for FY23 was ₹96.90 crore. For the period ending September 2023, the company posted a net profit of ₹3.05 crore upon a revenue of ₹71.46 crore.Read more on livemint.com