Synoptics Technologies Ltd IPO Timeline

Synoptics Technologies Ltd IPO opens on 30-Jun-2023, and closes on 05-Jul-2023. The Synoptics Technologies Ltd IPO bid date is from 30-Jun-2023 to 05-Jul-2023. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
Synoptics Technologies Ltd IPO Opening Date 30-Jun-2023
Synoptics Technologies Ltd IPO Closing Date 05-Jul-2023
Basis of Allotment 10-Jul-2023
Initiation of Refunds 11-Jul-2023
Credit of Shares to Demat 12-Jul-2023
Synoptics Technologies Ltd IPO Listing Date 13-Jul-2023

Synoptics Technologies Ltd IPO Lot Size

Synoptics Technologies Ltd IPO lot size is 600 shares. A retail-individual investor can apply for up to 1 lots (600 shares or 142200).

Application Lots Shares Amount
Minimum 1 600 ₹142200
Maximum 1 600 ₹142200

Synoptics Technologies Ltd IPO Details

Synoptics Technologies Ltd IPO Date 30-Jun-2023 to 05-Jul-2023
Synoptics Technologies Ltd IPO Face Value Shares of ₹10 per share
Synoptics Technologies Ltd IPO Price ₹237 per share
Synoptics Technologies Ltd IPO Lot Size 600
Issue Size Shares of ₹10 (aggregating up to ₹54.04 Cr)
Fresh Issue Shares of ₹10 (aggregating up to ₹35.08 Cr)
Offer for Sale Shares of ₹10 (aggregating up to ₹18.96 Cr)
Issue Type Fixed Price - SME
Listing At NSE - SME
QIB Shares Offered -
Retail Shares Offered -
NII (HNI) Shares Offered -
Company Promoters Jagmohan Manilal Shah, Jatin Jagmohan Shah, Janvi Jatin Shah.

Objects of the Issue

The company proposes to utilise the Net Proceeds from the Fresh Issue towards funding the following objects:

  • 1 Repayment of certain borrowings
  • 2 To meet the working capital requirements
  • 3 Investment in strategic acquisition/joint venture
  • 4 General corporate purposes

Company Financials

Synoptics Technologies Ltd Financial Information (Restated)

Period Ended Total Assets Total Revenue Profit After Tax
03-2024 91.98 43.42 6.00
03-2023 55.46 51.24 6.62
03-2022 42.74 50.78 4.29
Amount in ₹ Crore
  • Ability to provide customized and integrated IT solutions.
  • Experienced and Result Oriented Team.
  • Demonstrated track record of strong financial performance.
  • Quality of Services.
  • Certifications, Awards and Accreditations.
  • Strong pool of technically -qualified base of IT professionals with a pan-India presence.
  • There are certain outstanding legal proceeding involving the Company, Promoters, Directors and Group Companies which may adversely affect its business, financial condition and results of operations.
  • The company derive a significant portion of its revenue from the company Managed IT Service business. Therefore, factors that adversely affect the demand for such IT solutions or its position and reputation as a provider of such IT solutions may adversely affect its business and results of operations.
  • Increase in the cost of, or a shortfall in the availability of IT Equipment's could have an adverse effect on its business, results of operations and financial condition.
  • If the company cannot attract and retain highly-skilled IT professionals, its ability to obtain, manage and staff new projects and to continue to expand existing projects may result in loss of revenue and an inability to expand its business.
  • The company inability to manage the growth of its operations in India and in new territories outside of India could disrupt its business and reduce the company profitability.
  • The company has working capital requirements. If its experience insufficient cash flows to make required payments on its debt or fund working capital requirements, there may be an adverse effect on its results of operations.
  • The company intend to use a portion of the Net Proceeds to prepay / repay certain loan facilities.
  • Substantial portion of its revenues has been dependent upon limited number of customers.
  • The company export sale subject it to additional risks that can adversely affect the company results of operations.
  • The Company has not made provision for Gratuity Payment as required under The Payment of Gratuity Act 1972. The company has not complied with AS-15- Employee Benefits as issued by ICAI.
  • The Company had negative cash flow from operating activity in recent fiscals, details of which are given below.
  • The Company has several Contingent Liability and Commitments which if materialize could affect its financial position.
  • The Company has unsecured loans that may be recalled by the lenders at any time.
  • The company Promoters and CFO have provided personal guarantees for a portion of borrowings taken by Company to secure such loans.
  • The company financing agreements contain covenants that limit its flexibility in operating the company business. Its inability to meet the company obligations, including financial and other covenants under its debt financing arrangements could adversely affect its business, results of operations and financial condition.
  • The company has in the past entered into related party transactions and may continue to do so in the future, which may potentially involve conflicts of interest with the equity shareholders.
  • The Group Entities have objects similar to the Company. There are no non-compete agreements between the Company and such Group Entities. Its cannot assure that the company Promoter will not favor the interests of such entity over its interest or that the said entities will not expand which may increase the company competition and may adversely affect business operations and financial condition of the Company.
  • A failure to obtain, retain and renew approvals, permits and licenses or changes in applicable regulations or their implementation could have an adverse effect on its business.
  • The company registered office and branch offices are on leased/ rented premises and leave & license agreement have been executed for the same. Any termination or dispute in relation to these lease/ rental agreement may have an adverse effect on its business operations and results thereof.
  • Any inability to protect the company intellectual property or any claims that its infringe on the intellectual property rights of others could have a material adverse effect on it.
  • The company inability to procure and/or maintain adequate insurance cover in connection with its business may adversely affect the company operations and profitability.
  • The Company's business operations are done PAN India and any downturn and/ or any economic, regulatory, social and political change in any of the Indian states in which its operate or seek to operate may affect its market share and/ or may adversely affect the company business, financial condition and results of operations.
  • Any IT system failures or lapses on part of any of its employees may lead to operational interruption, liabilities or reputational harm.
  • Interruptions or delays in service from its third-party providers could impair the company service delivery model, which could result in customer dissatisfaction and a reduction of its revenue.
  • The company may not be able to keep pace with the rapid changes in information technology, industry standards and customer preference, which may adversely impact its competitiveness.
  • The company may face liability if its inappropriately disclose confidential customer information or are subject to security breaches in the company IT systems, which could adversely affect its financial condition and results of operations.
  • Certain of the company customer contracts are subject to bank guarantees, which, if invoked, could adversely impact its revenue and profitability.
  • The company face risks associated with currency exchange rate fluctuations.
  • The Company may not have complied with certain statutory provisions under Companies Act 1956 or Companies Act, 2013. Such non-compliances may attract penalties.
  • The company has relied on declarations and provisional documentary evidence for certain details in relation to its Promoters, Directors and Key Managerial Personnel as mentioned in "The company Management" chapter in this Draft Prospectus.
  • The company is dependent on a number of Key Management Personnel, including its Promoters, Directors, senior management, and the loss of or its inability to attract or retain such persons could adversely affect its business, results of operations and financial condition.
  • The Company will not receive any proceeds from the Offer for Sale portion.
  • The company has not made any alternate arrangements for meeting its capital requirements for the Objects of the offer.
  • The Objects of the Issue for which funds are being raised have not been appraised by any bank or financial institution. The deployment of funds is entirely at the discretion of its management and as per the details mentioned in the section titled "Objects of the Issue". Any revision in the estimates may require us to reschedule its expenditure and may have a bearing on the company expected revenues and earnings.
  • Delay in raising funds from the IPO could adversely impact the implementation schedule.
  • The company Board of Directors and management may change its operating policies and strategies without prior notice or shareholder approval.
  • In addition to normal remuneration or benefits and reimbursement of expenses, some of its Promoters and/ or Directors and/ or Key Managerial Personnel's are interested in the Company to the extent of their shareholding and dividend entitlement thereon in the Company.
  • There is no monitoring agency appointed by the Company and the deployment of funds are at the discretion of its Management and the company Board of Directors, though it shall be monitored by the Audit Committee.
  • The Company has not appointed any independent agency for the appraisal of the proposed Project.
  • Any variation in the utilization of the Net Proceeds as disclosed in this Draft Prospectus shall be subject to certain compliance requirements, including prior Shareholders' approval.
  • The company has not commissioned an industry report for the disclosures made in the chapter titled "Industry Overview" and made disclosures on the basis of the data available on the internet.
  • Expand our Current Business Relationships.
  • Focus on New Service offerings and technology enabled through Innovation.
  • Continue to attract, build and develop employee excellence.
  • Continue to invest in infrastructure.
  • Enhancing Operating Effectiveness and Efficiency.

Synoptics Technologies Ltd IPO Promoter Holding

Pre Issue Share Holding 98%
Post Issue Share Holding 71.46%

Synoptics Technologies Ltd IPO Subscription Status (Bidding Detail)

The Synoptics Technologies Ltd IPO is subscribed 2.4845 times on Jul 05, 2023 05:00:00 PM. The public issue subscribed - times in the retail category, - times in the QIB category, and - times in the NII category. Check Day by Day Subscription Details (Live Status)

Category QIB NII Retail Employee Total
Subscription (times) - - - - 2.4845

Synoptics Technologies Ltd IPO Prospectus

Synoptics Technologies Ltd IPO Listing Date

Listing Date 13 Jul 23
BSE Script 73365
NSE Symbol SYNOPTICS
Listing In NSE - SME
ISIN INE0BTR01012
IPO Price ₹237
Face Value ₹10

Synoptics Technologies Ltd IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91 22 6263 8200
Email: ipo@bigshareonline.com
Website: www.bigshareonline.com

Synoptics Technologies Ltd IPO Lead Manager(s)

  1. First Overseas Capital Ltd

FAQs on Synoptics Technologies Ltd IPO

Synoptics Technologies Ltd IPO, which opens for subscription from 30-Jun-2023 to 05-Jul-2023 has an issue size of ₹54.04 crore. The issue type is book building issue.

In case of pre-apply, your IPO order will be placed on the Exchange as soon as the official bidding for Synoptics Technologies Ltd IPO begins. You will receive a UPI request within 24 hours after the bidding period opens.

Synoptics Technologies Ltd IPO Opens for subscription from 30-Jun-2023 to 05-Jul-2023.

The lot size of Synoptics Technologies Ltd is 600 shares. Retail investors can subscribe to minimum 1 lot and maximum 1 lots. The minimum and maximum application value is ₹142200 and ₹142200 respectively.

Allotment date for Synoptics Technologies Ltd is 10-Jul-2023 and refund of application amount (in case allotment is not received) will begin from 11-Jul-2023. If your allotment goes through, then shares will be credited in your Demat account by 12-Jul-2023.

The registrar for Synoptics Technologies Ltd IPO is Bigshare Services Pvt Ltd . You can check your IPO allotment status on the registrar's website.

The shares of Synoptics Technologies Ltd are proposed to be listed on Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

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