Sahana System Limited IPO

01 Jun 2023|

2 min read |

by ICICI Securities Team

About the Company

Sahana System Limited is incorporated in 2020 and offers IT - relating services. It is a registered start-up and is recognised by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry. This certificate is valid for 10 years, which entitles the company to a host of privileges for instance they can enjoy exemption from angel tax.

Products

The services offered by the company include mobile application development, web app development, AI & ML development, product prototyping and ChatBot development.

IPO details

IPO subscription dates: May 31 to June 2, 2023

Price: Rs. 132 – Rs. 135 per share

Lot size: 1000 shares

IPO Objective

The amount raised would be used:

To meet the working capital requirements
For the installation of EV charging Station
For the General Corporate Purposes
To meet the issue expenses

Company Financials

Particulars	For year ended Mar 31, 2023	For year ended March 31, 2022	For year ended March 31, 2021
Net worth (in lakhs)	1,079.71	452.06	17.44
Total Borrowings (in lakhs)	477.04	512.59	723.25
Total Revenues (in lakhs)	2,414.23	1,217.39	331.47

Strengths

The company offers end-to-end IT services and ensures quality work.
They are recognised with several Certifications, Awards and Accreditations.
Leveraging the experience of their Promoter

Major Business-Related Risk

One of the Objects of the issue is for installation of an EV charging station in which promoter has no experience.
The company was unable to procure confirmed order from New & Renewable Energy Development Corporation of Andhra Pradesh Limited (NREDCAP) for the purpose for which funds are being raised from this Issue.
The Secured Loan from Tamilnad Mercantile Bank Limited (TMB) is not transferred by the bank from partnership to its company name.

How to apply for a Quick IPO on ICICIdirect?

Select IPO

Go to the IPO section, select the IPO you want to apply for from the list, and click on ‘Apply’.

Fill in the required details

Fill in the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto-calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on the “Add bid” option.

Confirm your request

Click on proceed to confirm the order. You can view the placed order under “Order book”. If you are applying using UPI, check the A/C and UPI details before clicking on proceed. You will get a UPI link through which the payment can be made.

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