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According to the prospectus, Slone Infosystems is an IT hardware solutions firm that provides IT service solutions in India in addition to selling and renting IT equipment. The company sells and rents IT equipment, including laptops, desktops, servers, and workstations, and it also offers IT solution services, such managing cloud servers and offering corporates IT equipment repair.
Also Read: Slone Infosystems IPO: Price band, issue size, key dates, other details
The firm operates in many business segments, such as providing rental services, selling different IT-related products, and providing IT service solutions in addition to laptops, PCs, and computer accessories.
The prospectus states that Brisk Technovision Ltd. (P/E of 14.61) and Benchmark Computer Solutions Ltd. (P/E of 0.03) are the company’s listed peers, with a P/E of 19.51.
The company’s profit after tax (PAT) increased by 94.88% between March 31, 2022, and March 31, 2023, despite a 15.73% increase in revenue.
Slone Infosystems IPO subscription status
Slone Infosystems IPO subscription status is 62.20 times, on day 2, so far.
The retail portion has been subscribed 102.86 times, and NII portion has been booked 21.33 times.
The company has received bids for 8,27,04,000 shares against 13,29,600 shares on offer, at 15:29 IST, according to data on chittorgarh.com.
On day 1, the subscription status was 20.68 times.
Slone Infosystems IPO details
The about ₹11.06 crore Slone Infosystems IPO comprises of a fresh issuance of 14,00,000 equity shares having a face value of ₹10. There is no offer-for-sale component.
The firm’s general business purposes, the repayment or payback of some of its loans, and capital expenditures for the purchase of laptops, desktop computers, SSDs, and RAM are the goals of the present equity share sale.
Kfin Technologies Limited is the registrant of the Slone Infosystems IPO, while Jawa Capital Services Private Limited is the book running lead manager. Aftertrade Share Broking is acting as the market maker for the Slone Infosystems IPO.
The Slone Infosystems IPO basis for share allocation is tentatively scheduled to be finalised on Wednesday, May 8. The business will commence reimbursements on Thursday, May 9, and the shares will be deposited to the allottees’ demat account the same day as the refund. Slone Infosystems share price is likely to be listed on NSE SME on Friday, May 10.
Slone Infosystems IPO GMP today
Slone Infosystems IPO GMP or grey market premium is +70. This indicates Slone Infosystems share price were trading at a premium of ₹70 in the grey market, according to investorgain.com.
The estimated price at which Slone Infosystems shares would list is ₹149 per share, 88.61% more than the IPO price of ₹79, after accounting for the upper end of the IPO pricing range and the current premium on the grey market.
Today’s IPO GMP indicates higher and anticipates a solid listing based on the activity of the grey market over the past ten sessions. Analysts at investorgain.com estimate that the lowest GMP is ₹20 and the maximum GMP is ₹70.
Grey market premium’ indicates investors’ readiness to pay more than the issue price.
Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.
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Published: 06 May 2024, 03:41 PM IST
