Slone Infosystems IPO: Issue subscribed over 62 times on day 2, so far, retail portion sees robust demand; check GMP
₹10 per equity share, the Slone Infosystems IPO price band has been set at ₹79. A lot size of 1,600 shares is available for the Slone Infosystems IPO. Applications for equity shares must be made in multiples of 1,600 beginning with a minimum of 1,600 shares.
According to the prospectus, Slone Infosystems is an IT hardware solutions firm that provides IT service solutions in India in addition to selling and renting IT equipment. The company sells and rents IT equipment, including laptops, desktops, servers, and workstations, and it also offers IT solution services, such managing cloud servers and offering corporates IT equipment repair. The firm operates in many business segments, such as providing rental services, selling different IT-related products, and providing IT service solutions in addition to laptops, PCs, and computer accessories.
The prospectus states that Brisk Technovision Ltd. (P/E of 14.61) and Benchmark Computer Solutions Ltd. (P/E of 0.03) are the company's listed peers, with a P/E of 19.51.
The company's profit after tax (PAT) increased by 94.88% between March 31, 2022, and March 31, 2023, despite a 15.73% increase in revenue. Slone Infosystems IPO subscription status is 62.20 times, on day 2, so far. The retail portion has been subscribed 102.86 times, and NII portion has been booked 21.33 times.
The company has received bids for 8,27,04,000 shares against 13,29,600 shares on offer, at 15:29 IST, according to data on chittorgarh.com. On day 1, the subscription status was 20.68 times. The about ₹11.06 crore Slone Infosystems IPO comprises of a fresh issuance of 14,00,000 equity shares having a face value of ₹10.
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