Esconet Technologies IPO: Allotment / Subscription Status, GMP, Price, Lot Size, Date and More

News: Esconet Technologies Limited is all set to make waves in the stock market with its Initial Public Offering (IPO). If you’re curious about what this IPO entails, read on for a simplified breakdown.

Key Details

• IPO Date: The subscription window for the Esconet Technologies IPO opens on February 16, 2024, and closes on February 20, 2024.
• Listing Date: The tentative listing date is Friday, February 23, 2024.
• Issue Size: The IPO is a fresh issue of 3,360,000 shares, aggregating up to ₹28.22 crores.
• Price Band: The price band for each share is set at ₹80 to ₹84.
• Minimum Lot Size: To participate, you’ll need to apply for a minimum of 1600 shares.
• Retail Investor Investment: Retail investors need a minimum investment of ₹134,400.
• HNI Investment: High Net Worth Individuals (HNIs) can invest in 2 lots (3,200 shares), amounting to ₹268,800.

IPO Process

1. Subscription: Investors can subscribe to the Esconet Technologies IPO during the specified dates.
2. Allotment: The allotment process will be finalized on Wednesday, February 21, 2024.
3. NSE SME Listing: Esconet Technologies IPO will list on the NSE SME platform.
4. Face Value: Each share has a face value of ₹10.

Anchor Investors

• Esconet Technologies raised ₹8.01 crore from anchor investors.
• Anchor bid date: February 15, 2024.
• Lock-in period for 50% of shares: Ends on March 22, 2024.
• Lock-in period for remaining shares: Ends on May 21, 2024.

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About Esconet Technologies Limited :

Esconet Technologies Limited is a dynamic player in the technology landscape, specializing in cutting-edge solutions. Let’s delve into what makes this company tick:

Overview

• Inception: Esconet Technologies Limited was incorporated in 2012 as Esconet Technologies Private Limited.
• Location: The company is headquartered in South Delhi, India.
• Evolution: Esconet has consistently evolved, staying ahead in the ever-dynamic technological landscape.

Core Verticals

Within the realm of Esconet, two specialized verticals thrive:

1. HexaData: This exclusive line of servers and workstations redefines the boundaries of computational power and performance. Engineered with the latest NVIDIA GPGPU technology coupled with AMD/Intel CPUs, these aren’t just servers; they are bona fide supercomputers in a box. HexaData is optimized for high-speed data processing, Artificial Intelligence (AI), Machine Learning (ML), and advanced simulations that were traditionally only possible on dedicated supercomputing clusters.

2. ZeaCloud Services: ZeaCloud is an Infrastructure-as-a-Service (IaaS) cloud services company. It provides an extensive range of cloud and managed services aimed to meet the varying needs of businesses:

• Private Cloud Services: Tailored solutions designed for businesses that require a more customized and secure cloud environment.
• Data Backup and Disaster Recovery as a Service (BaaS and DRaaS): Bespoke solutions keeping data secure and available, while also safeguarding it against unforeseen contingencies.

Recent Milestones

1. IPO Filing: Esconet Technologies Limited recently filed its Draft Red Herring Prospectus (DRHP) with the National Stock Exchange (NSE) to initiate its Initial Public Offering (IPO) on the NSE Emerge platform. The subscription window for the IPO opened on February 16, 2024.
2. Cloud Modernization Contract: Esconet’s cloud arm, ZeaCloud Services, secured a 5-year contract to modernize Morepen Laboratories Limited’s Edge Cloud Infrastructure. This move reflects Esconet’s commitment to innovation and growth.

Esconet Technologies’ IPO promises exciting opportunities for investors. Stay tuned for further updates as we approach the listing date!

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