Sancode Technologies Limited IPO

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i. Sancode Technologies Limited is a software and product development company offering an API enabled platform and solutions that enable organizations to rapidly adopt powerful technology applications addressing their strategic business needs. It enable organizations to drive digital transformation and competitive differentiation by providing them easy to implement pre-built business logic and solution workflows specially for finance automations.

ii. They are more focused on bridging the gap between technology and businesses by hiring a team of solution architects, project managers and business analysts. The company deliver solutions to its customers by working in collaboration with a network of implementation partners in the following areas:

• Digital transformation.
• Workflow automation.
• Artificial intelligence (AI) and Machine learning (ML).
• Robotic Process Automation (RPA) and Data analytics.
• Metaverse and Web3 applications
• System Integration.

iii. The Company has evolved it’s business to develop, provide, undertake, design, distribute and deal in Systems and application software, undertake offshore software development projects, digital transformation, cloud migration, advance analytics, Robotic process automation, machine learning and AI projects in all areas of application including those in emerging niche segments like Internet and Intranet website applications, enterprise solutions software, resource planning, e-commerce, value added products and other business applications for corporations across the globe.

iv. Their business has multiple revenue streams including from:

i. Sale of software products: one-time upfront license fees in relation to tech solutions and products deployed on-premise.

ii. Annuity based revenue: recurring fees/charges from the following:

  • SaaS: subscription fees for licenses in relation to APIs and solutions deployed on cloud.
  • ATS/AMC: Charges for annual technical support and maintenance (including updates) of licenses, and installation.
  • Support: Charges for support and development services.

iii. Sale of services: Milestone-based charges for implementation and development of white labeled or custom solutions.

v. Sancode Technologies offer its services across industries and a diversified customer base majorly in the United States of America which include clients from manufacturing, FMCG, banks and finance institutions, retail and real estate . They believe their diversified customer base allows them to insulate ourselves from sector fluctuations and industry concentration risks.

Objects of the Sancode Technologies Limited IPO:

The proceeds from the issue will be used for the following objects: i. Funding working capital requirements. ii.  General corporate purposes.
DRHP of Sancode Technologies Limited IPO
RHP of Sancode Technologies Limited IPO

Sancode Technologies Limited IPO Details:

Open Date: Mar 31 2023
Close Date: Apr 06 2023
Total Shares: 1,095,000
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue IPO
Issue Size: 5.15 Cr.
Lot Size: 3000 Shares
Issue Price: ₹ 47 Per Equity Share
Listing At: BSE SME
Listing Date: Apr 18 2023

Promoters And Management:

i. Amit Vijay Jain, aged 42 years, is the Promoter, Chairman and Executive Director of the Company. He has been appointed as the Chairman and Executive Director of the Company with effect from January 05, 2023. He has completed his Bachelor of Commerce from University of Mumbai in the year 2001. He has passed the Final Examination conducted by The Institute of Chartered Accountants of India, in the year 2004 and also holds a Certificate of Membership from the Institute of Chartered Accountants of India. He has more than 10 years of experience in corporate restructuring and Softech consultancy. He oversees the entire business operations and overall functions of the Company and is responsible for overseeing the strategic growth initiatives and expansion plans. ii. Mihir Deepak Vora, aged 35 years is the Promoter and Managing Director of the Company. He has been appointed as Managing Director of the Company with effect from March 04, 2023. He holds a Certificate of Membership from the Institute of Chartered Accountants of India. He has an experience of around 10 years in financial domain in terms of functional and technical. He is responsible for creating and implementing financial strategy for the group along with management of financial controls and accounting procedures. iii. Mukeshkumar Devichand Jain, aged 49 years is the Non-Executive Director of the Company. He has been appointed as Non-Executive Director of the Company with effect from January 05, 2023. He holds degree of Master of Technology in software systems from The Birla Institute of Technology and Science in the year 2019. He has experience of more than 20 years of experience in Digital Transformation, Product Engineering, LargeScale Development, Big Data Analytics, AI, IoT, Blockchain, Chatbots, Advertising, FinTech, MarTech, Social, Media, Cloud, SaaS, Mobility, Product Quality, setting up & managing Large GIC in India and leading business globally & delivering innovative results.

Financials of Sancode Technologies Limited IPO:

Particulars (Lakh) 2022 2021 2020
Revenue from Operations 244 156 13
Employees Benefit Expenses 145 153 90
Other Expenses 59 34 99
EBITDA 40 -31 -176
OPM% 16.39% -19.87% -1353.85%
Other Income 1 4 30
Depreciation 0 1 1
Finance Cost 0 0 0
PBT 41 -28 -147
Tax 25 -2 -34
Exceptional Items 60 0 0
Share of Profit 12 -22 0
PAT 64 -4 -113
NPM 26.12% -2.50% -262.79%
No. of Shares 40.68 40.68 40.68
EPS 1.57 -0.10 -2.78

Comparison With Peers:

There is no listed company engaged in the similar business.

Lead Manager of Sancode Technologies Limited IPO:

  1. SHRENI SHARES PRIVATE LIMITED

Registrar of Sancode Technologies Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Sancode Technologies Limited 107, Prime Plaza, J.V. Patel Compound, B.M. Road, Opp. Elphinstone Stn. Mumbai - 400013 Phone: 022-49622853 Email: investor@sancodetech.com Website: https://www.sancodetech.com/

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