30 Jun '23 - 05 Jul '23
₹142,200 / 1 Lots ( 600 Shares)
₹142,200 / 1 Lots ( 600 Shares)
Investor category and sub category
To be announced
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jun 30, 2023
IPO Closing Date
Jul 5, 2023
Basis of Allotment
Jul 10, 2023
Initiation of Refunds
Jul 11, 2023
Credit of Shares to Demat Account
Jul 12, 2023
IPO Listing Date
Jul 13, 2023
UPI mandate confirmation
Jul 5, 2023
IPO Subscription Details
Day 1Jun 30, 2023
Day 2Jul 3, 2023
Day 3Jul 4, 2023
Day 4Jul 5, 2023
IPO Subscription Status Live
|Investor Category||Subscription (Times)|
Synoptics Technology offers IT services in the areas of IT infrastructure like connectivity to the branches, supply, implementation and support of the network equipment needed to run the IT setup like routers, switches, etc. They design the solution for customers who need to put their applications in Cloud and further help with the application migration and manage the setup in the cloud. Synoptics helps enterprises, small businesses and governments in their digital journey with various use cases of specific industry verticals with our technology-led and innovation-driven approach.
Synoptics is currently operating across India with a team of 584 employees. Their B2B customers include government entities, Public sector undertakings (PSUs), and private enterprises. Some of Synoptics' customers include the Government of Gujarat, Blue Dart Express Limited, BOB Financial Services, Hennes & Mauritz Retail Private Limited (H&M), TATA Communications Limited, Shoppers Stop Limited, Lifestyle International Private Limited, GIC Housing Finance Ltd, Motilal Oswal Financial Services Limited, Fedbank Financial Services Limited, etc.
Recently, Synoptics Technologies also signed an agreement with BSNL to become their authorised Private LTE/Private 5G service partner nationwide.
Synoptics Technologies Limited IPO Details
Synoptics is a fresh issue and Offer for Sale. The issue comprises 22,80,000 shares at the issue price of Rs. 237 each aggregating up to Rs. 5,403.60 lakh. Retail investors can bid for the Synoptics Technologies Limited IPO that will open on 30th June 2023. Synoptics Technologies Limited’s IPO will list on the NSE exchange on 13th July 2023.
Synoptics Technologies Limited IPO Objectives
The objectives of Synoptics Technologies Limited's IPO are listed below:
- To repay certain borrowings.
- For the investment in strategic acquisition/joint venture.
- To meet the working capital requirements.
- For general corporate expenses.
- To meet the expenses of the issue.
Synoptics Technologies has only one comparable peer in the industry Allied Digital Services Limited.
Highlights of Synoptics Technologies Ltd
- Synoptics Technologies Ltd’s customer base includes the Government of Gujarat and BSNL.
- The company holds unsecured loans which can be recalled by the lenders at any time, impacting their finances.
- A considerable portion of their revenue has been dependent upon a limited number of customers. The revenue from operations from their top 10 customers constituted 82.99% for the period ending on 31st December 2022 and 82.77% for 31st March 2022. The loss of any significant client would impact their earnings.
|Particulars||As of 31st Dec 2022 (Rs. lakhs)||Year ending on 31st March 2022Total Expense (Rs. lakhs)||Year ending on 31st March 2021 (Rs. lakhs)|
|Profit After Tax (PAT)||525.36||432.36||236.02|
|EPS (in Rs.)||7.51||6.18||3.37|
Know before investing
There is only one comparable peer for Synoptics’ in the industry.
The company’s PAT consistently grew from Rs. 236.02 lakh in March 2021 to Rs. 432.36 lakh in March 2022 and Rs. 525.36 in December 2022.
The unavailability or rise in the cost of IT equipment can have an adverse effect on their profit.
There are certain legal proceedings like civil cases and tax-related matters involving the company, promoters, directors and group companies.
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Synoptics Technologies Ltd IPO FAQs
The Synoptics Technologies Ltd IPO is a fresh issue and Offer for Sale of 22,80,000 shares aggregating up to Rs. 5,403.60 lakh. The issue is priced at Rs. 237 per share. The listing will open on 30th June 2023.
The Basis of Allotment will happen on 10th July 2023, Monday.
The IPO subscription window will open on 30th June 2023, Friday.
Retail investors can apply for a minimum of one lot, which consists of 600 shares.
Synoptics Technologies Ltd IPO will list on the NSE exchange on 13th July 2023, Thursday.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Validate with an OTP
- Enter your application number, DP ID, and PAN number into the app
- Click on ‘Submit’
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Thursday, 13th July 2023, for Synoptics Technologies Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.