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Business News/ Markets / Ipo/  Esconet Technologies IPO: Issue subscribed over 286 times so far on last day; check GMP, other key details of SME IPO
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Esconet Technologies IPO: Issue subscribed over 286 times so far on last day; check GMP, other key details of SME IPO

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.

Esconet Technologies IPO is an SME IPO and a book-built issue of ₹28.22 crore which will conclude on February 20.Premium
Esconet Technologies IPO is an SME IPO and a book-built issue of 28.22 crore which will conclude on February 20.

Esconet Technologies IPO: The initial public offering (IPO) of Esconet Technologies began for subscription on February 16 and will close today, February 20.

Esconet Technologies IPO is an SME IPO and has been receiving robust demand from investors. The company plans to raise 28.22 crore from the book-built issue.

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 SME IPO has received strong response from investors. Let us check Esconet Technologies IPO subscription status, GMP and other key details:

Esconet Technologies IPO Subscription Status

Esconet Technologies IPO has been subscribed 286.74 times in total so far on Tuesday, February 20, the third and the last day of the bidding process. It received bids for 63.95 crore equity shares as against the IPO size of 22.30 lakh shares, as per data available till 1:45 pm.

The public issue received 378.55 times subscription in the retail category, 39.54 times in Qualified Institutional Buyer’ (QIB) category, and 401.80 times subscription in the Non-Institutional Investors’ (NII) category so far.

Also Read: Indian stock exchanges topped in number of IPOs in 2023: EY Report

Esconet Technologies IPO GMP Today

Esconet Technologies IPO GMP today, or grey market premium today, is 83 per share, as per market observers. This indicates that Esconet Technologies shares are trading at a robust premium of 98.81% at 167 apiece in the grey market as compared to its IPO price of 84 per share.

Esconet Technologies IPO Details

Esconet Technologies IPO opened for subscription on February 16, and will close today, February 20. The SME 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.

Also Read: Purv Flexipack IPO: Price band, issue size, GMP, key details to know

The company plans to raise 28.22 crore from the IPO that is entirely a fresh issue of 33.6 lakh equity shares.

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.

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 all IPO news here

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Published: 16 Feb 2024, 02:30 PM IST
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