Slone Infosystems IPO: Price band, issue size, key dates, other details

Slone Infosystems IPO price band has been fixed at ₹79 per equity share of face value of ₹10 each. Slone Infosystems IPO will open for subscription on Friday, May 3, and close on Tuesday, May 7. The lot size for the Slone Infosystems IPO is 1,600 shares. A minimum of 1,600 equity shares must be applied for, and after that, the shares must be applied for in multiples of 1,600. The issue price of ₹79 is 7.9 times of the face value. 

Slone Infosystems is an IT hardware solutions company that sells and rents IT equipment as well as offering IT service solutions in India, according to the prospectus. The firm offers IT solution services, such as maintaining cloud servers and providing corporates with IT equipment servicing, in addition to selling and renting IT equipment such as laptops, desktops, servers, and workstations.

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The company is divided into many business divisions, including rental services, sales of various IT-related items, laptops, computers, and computer accessories, and IT service solutions.

As per the prospectus, the company's (with a P/E of 19.51) listed peers are Brisk Technovision Ltd (with a P/E of 14.61), and Benchmark Computer Solutions Ltd (with a P/E of 0.03).

Between March 31, 2022, and March 31, 2023, the company's profit after tax (PAT) climbed by 94.88%, while its revenue grew by 15.73%.

Slone Infosystems IPO details 

Slone Infosystems IPO, which is worth about ₹11.06 crore, consists of a fresh issue of 14,00,000 equity shares with a face value of ₹10. There is no offer-for-sale component.

The objectives of the current equity share offering are general corporate purposes, repayment/prepayment of certain loans taken out by the firm, and capital expenditure for the acquisition of laptops, desktop computers, SSDs, and RAM.

The Slone Infosystems IPO's book running lead manager is Jawa Capital Services Private Limited, while the issue's registrar is Kfin Technologies Limited. With the Slone Infosystems IPO, Aftertrade Share Broking is the market maker.

Tentatively, Slone Infosystems IPO basis of allotment of shares will be finalised on Wednesday, May 8, and the company will initiate refunds on Thursday, May 9, while the shares will be credited to the demat account of allottees on the same day following refund. Slone Infosystems share price is likely to be listed on NSE SME on Friday, May 10.

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Slone Infosystems IPO GMP today

Slone Infosystems IPO GMP or grey market premium is +30. This indicates Slone Infosystems share price were trading at a premium of ₹30 in the grey market, according to investorgain.com.

Once the upper end of the IPO pricing range and the existing premium on the gray market are taken into consideration, it is projected that Slone Infosystems shares will list at a price of ₹109 a share, which is 37.97 more than the IPO price of ₹79.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

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