• Anchor Book will open on Thursday, February 15, while the issue will be closed on Tuesday, February 20, 2024
• IPO comprises a fresh issue of 33,60,000 Equity Shares with a face value of Rs. 10 each through the book-building route
• The company plans to raise Rs. 28.22 crore from the IPO and intends to utilize Rs. 16 crore to fund its long-term working capital requirements and Rs. 2.5 crore to invest in its wholly-owned subsidiary ZeaCloud Services Private Limited to fortify data backup capabilities
• Esconet manufactures high-performance supercomputers, data servers and workstations, besides offering a wide range of IT solutions for SMEs, large organizations and public sector clients, such as data storage and networks, security, virtualization, and data protection
• Corporate Capital Ventures has been appointed the Book Running Lead Manager, and Skyline Financial Services Private Limited is the Registrar to the Issue

IPO details – Esconet Technologies Limited   No. of shares (FV Rs. 10 each) 33,60,000 Equity Shares Price band Rs. 80-84 Issue size (at upper band) Rs. 28.22 crore Issue type Fresh Issue Issue opens on Friday, February 16, 2024 Issue closes on Tuesday, February 20, 2024 Anchor opening date Thursday, February 15, 2024 Anchor portion 9,53,600 Equity Shares Reservation for Market Maker 1,76,000 Equity Shares Reservation for HNIs 4,78,400 Equity Shares Reservation for QIBs 6,36,800 Equity Shares Reservation for Retail 11,15,200 Equity Shares Lot Size 1,600 Equity Shares

MUMBAI, 16^th FEBRUARY, 2024 (GPN): Esconet Technologies Limited (The Company), a leading homegrown integrated IT solutions company, announced that its initial public offering (IPO) will open on Friday, February 16, 2024. The anchor portion will be opened on Thursday, February 15, 2024, and the issue will conclude on Tuesday, February 20, 2024. The company intends to raise approximately Rs. 28.22 crore (at upper band) from the offering and aims to be listed with NSE Emerge. The price band for the issue has been fixed at Rs. 80/- – Rs. 84/- per share, and the lot size will be 1,600 equity shares.

Corporate Capital Ventures has been appointed as the Book Running Lead Manager, and Skyline Financial Services Private Limited is the Registrar to the issue.

The IPO will comprise a fresh issue of 33,60,000 equity shares with a face value of Rs. 10/- through the book-building route. As many as 9.53 lakh equity shares have been reserved for the anchor portion, 1.76 lakh equity shares for Market Maker, 4.78 lakh equity shares allocated for HNIs, 6.36 lakh equity shares for QIBs, and Retail (RII) portion accounts for 11.15 lakh equity shares.

According to the RHP document, Esconet proposes to utilize Rs. 16 crore of the IPO proceeds towards funding its long-term working capital requirements, besides investing Rs. 2.5 crore in its wholly-owned subsidiary, ZeaCloud Services Private Limited, to reinforce its infrastructure by acquiring additional hardware and software, with a goal of bolstering capacity, elevating security measures, and enhancing overall monitoring capabilities.

Founded in 2012 by second-generation entrepreneurs Santosh Kumar Agrawal and Sunil Kumar Agrawal, Esconet has been forging fruitful partnerships to deliver innovative and resilient IT solutions. The company counts renowned global technology firms – AMD, Amazon Web Services, Cisco, Dell Technologies, HP Enterprises, Intel, Microsoft, Nutanix, NVIDIA, Sophos, Suse One, Trend Micro, and Veeam, among its technology partners. Its prestigious clientele includes the Ministry of Defence, National Informatics Centre (MeitY), National Informatics Centre Services Inc (MeitY), IIT, Bharat Electronics Limited, ONGC, Engineers India Limited and many others.

As per the restated consolidated financial statements, Esconet’s revenue from operations stood at Rs. 71.41 crore and earned a profit (PAT) of Rs. 3.05 crore during the first half of the current fiscal year, which ended September 30, 2023, compared to an operating revenue of Rs. 96.59 crore and a profit (PAT) of Rs. 3.18 crore in FY2022-23. A significant portion of the company’s revenue in the last three years was generated from Government projects.

The company has received crucial certifications such as ISO 9001:2015 for Quality Management System, ISO/IEC 27001:2022 for Information Security Management Systems, ISO/IEC 20000-1:2018 for Information Technology Service Management, and ISO 14001:2015 for Environmental Management Systems, demonstrating its dedication to quality and security.

For more information, please visit: https://www.esc.co.in/    

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