Esconet Technologies IPO closes today: Should you subscribe? Details

Esconet Technologies IPO: The IPO includes an entirely fresh equity issue of 33.6 lakh shares.

Updated on: Feb 20, 2024, 07:30:32 IST

By HT News Desk

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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: The IPO includes an entirely fresh equity issue of 33.6 lakh shares. (Representative Photo)

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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