Systango Technologies Limited, established in 2004, provides a diverse range of software solutions such as website development, mobile app development for iOS and Android, Web3 development, DeFi, data engineering, blockchain implementation, cloud computing, and digital marketing. These solutions enable businesses to create, execute, and manage customized digital platforms with a strong focus on data and analytics.
Systango Technologies provides its services to a broad spectrum of industries, including but not limited to Hospitality, Property Tech, FinTech, and Fantasy Sports. Throughout its years of operation, the company has progressed as a proficient technical and professional service provider. Their complete technology solutions and support assist entities and organizations in efficiently executing innovations within their systems and adapting to the contemporary world.
Systango Technologies IPO Details
| IPO Date | Mar 2, 2023 to Mar 6, 2023 |
| Listing Date | Mar 15, 2023 |
| Face Value | ₹10 per share |
| Price | ₹85 to ₹90 per share |
| Lot Size | 1600 Shares |
| Issue Size | 3,868,800 shares of ₹10 (aggregating up to ₹34.82 Cr) |
| Fresh Issue | 3,868,800 shares of ₹10 (aggregating up to ₹34.82 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| P/E (x) | 15.13 |
| Market Cap (₹ Cr.) | 132.02 |
Systango Technologies IPO Tentative Dates
| Event | Tentative Date |
| Opening Date | Mar 2, 2023 |
| Closing Date | Mar 6, 2023 |
| Basis of Allotment | Mar 10, 2023 |
| Initiation of Refunds | Mar 13, 2023 |
| Credit of Shares to Demat | Mar 14, 2023 |
| Listing Date | Mar 15, 2023 |
Industry Overview
The company works in various industries such as software development, mobile application development, and web application development services to clients in different sectors, such as healthcare, finance, education, and e-commerce. The software development industry has been experiencing rapid growth in recent years, and this trend is anticipated to continue in the future. A report by Statista suggests that the global software development market was valued at USD 436.8 billion in 2020 and is predicted to increase to USD 697.8 billion by 2025, with a CAGR of 9.8% during the forecast period.
Likewise, the mobile application development industry is also observing significant growth. As per a report by Markets and, the global mobile application market size was estimated at USD 154.05 billion in 2020 and is projected to grow to USD 407.31 billion by 2026, with a CAGR of 16.2% during the forecast period.
The web application development industry is also seeing an upsurge in growth, owing to the rising adoption of cloud-based solutions and the surging demand for web-based applications. According to a report by Grand View Research, the global web application firewall market was valued at USD 2.32 billion in 2020 and is projected to grow at a CAGR of 13.2% from 2021 to 2028.
Company Financials
Systango Technologies Limited Financial Information (Restated Consolidated)
| Period Ended | Total Assets | Total Revenue | Profit After Tax | Net Worth | Reserves and Surplus |
| 31-Mar-20 | 744.32 | 1,455.31 | 251.88 | 476.81 | 421.81 |
| 31-Mar-21 | 1,537.57 | 2,388.09 | 568.26 | 1,045.50 | 775.50 |
| 31-Mar-22 | 2,288.97 | 3,392.10 | 676.99 | 1,722.49 | 1,452.49 |
| 30-Sep-22 | 2,732.41 | 2,301.30 | 572.30 | 2,296.98 | 2,026.98 |
| Amount in ₹ Lakhs |
Objects of the Issue
The company intends to utilize the proceeds of the Issue to meet the following objectives:-
- Strategic Investment and Acquisitions;
- Investment in Subsidiaries;
- To Meet Working Capital Requirements;
- General Corporate Purposes;
- Issue Expenses.
Systango Technologies IPO Prospectus
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Company Contact Information
Systango Technologies Limited
Third Floor (LHS),
STP-I Crystal IT Park, Ring Road,
Indore – 452010
Phone: +91 0731 2971030
Email: cs@systango.com
Website: http://www.systango.com/
Systango Technologies IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://www.bigshareonline.com/
Systango Technologies IPO Lead Manager(s)
- Hem Securities Limited (Past IPO Performance)
