Canarys Automation IPO Details: The scheduled date for Canarys Automation IPO has been confirmed. The IPO is set to enter the market on September 27th and conclude on October 3rd. The company aims to gather approximately ₹47.03 crores through this IPO. This sum includes a fresh issue of ₹47.03 crores via 15172000 shares, each valued at ₹10. The retail quota is 35%, while QIB is 50% and HNI is 15%.
What is Canarys Automation IPO?
Canarys Automation is an Indian company that provides automation solutions for a variety of industries, including manufacturing, food and beverage, and pharmaceuticals. The company’s products and services include:
- Programmable logic controllers (PLCs)
- Human-machine interfaces (HMIs)
- Variable frequency drives (VFDs)
- Servo motors and drives
- Industrial automation software
Canarys Automation is a small company with a market share of less than 5% in the Indian industrial automation market. However, the company is growing rapidly and is well-positioned to benefit from the growing demand for automation solutions in India.
The Canarys Automation IPO is aimed at raising ₹47.03 crores through the issue of 15,172,000 equity shares of the face value of ₹2 each. The IPO price band is set at ₹29 to ₹31 per share. The IPO opens on September 27 and closes on October 3, 2023.
The company plans to use the proceeds of the IPO to:
- Expand its manufacturing capacity
- Set up new offices in key cities in India
- Invest in new technologies and equipment
- Acquire smaller automation companies
The Canarys Automation IPO is a good opportunity for investors to invest in a growing company with a strong track record. However, investors should be aware of the risks associated with investing in a small company, such as limited market share and competitive landscape.
Objectives of Canarys Automation IPO
The objectives of the Canarys Automation IPO are as follows:
- To expand the company’s manufacturing capacity and set up new offices in key cities in India.
- To invest in new technologies and equipment to improve the company’s efficiency and productivity.
- To acquire smaller automation companies to expand the company’s product portfolio and customer base.
- To meet the company’s working capital requirements and general corporate purposes.
In short, the Canarys Automation IPO is aimed at raising funds to support the company’s growth and expansion plans, as well as to improve its financial health.
Investors should carefully consider the company’s financial statements and IPO prospectus before making an investment decision.
Here are some additional factors to consider:
- The company’s IPO is priced at ₹29 to ₹31 per equity share, which is at the lower end of the price band. This suggests that the company is conservatively valued. However, investors should note that the company is still a small company with limited market share.
- The company’s IPO is opening during a volatile market environment. This could make it difficult for the company to raise the full amount of money that it is targeting.
- The company’s IPO is being subscribed by a mix of institutional and retail investors. This suggests that there is a good demand for the company’s shares from both types of investors.
Canarys Automations IPO Date & Price Band Details
| IPO Open: | September 27, 2023 |
| IPO Close: | October 3, 2023 |
| IPO Size: | Approx ₹47.03 Crores, 15,172,000 Equity Shares |
| Face Value: | ₹2 Per Equity Share |
| IPO Price Band: | ₹29 to ₹31 Per Equity Share |
| IPO Listing on: | NSE SME |
| Retail Quota: | 35% of the net offer |
| QIB Quota: | 50% of the net offer |
| NII Quota: | 15% of the net offer |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
Canarys Automations IPO Market Lot
The Canarys Automations IPO minimum market lot is 4000 shares with a ₹124,000 application amount.
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | 4000 | ₹124,000 |
| Retail Maximum | 1 | 4000 | ₹124,000 |
| S-HNI Minimum | 2 | 8000 | ₹248,000 |
Canarys Automations IPO Dates
The Canarys Automations IPO date is September 27 and the IPO close date is October 3. The IPO allotment date is October 6 and the IPO might list on October 11.
| IPO Open Date: | September 27, 2023 |
| IPO Close Date: | October 3, 2023 |
| Basis of Allotment: | October 6, 2023 |
| Refunds: | October 9, 2023 |
| Credit to Demat Account: | October 10, 2023 |
| IPO Listing Date: | October 11, 2023 |
You can check this IPO calendar to have latest update on your mobile. Add this calendar to your mobile and get daily updates on the current and upcoming IPO.
Canarys Automations IPO Subscription Status
For the latest update on the Canarys Automations IPO, you can check this dedicated page for IPO subscription status.
Canarys Automations IPO Allotment Status
For the latest update on the Canarys Automations IPO, you can check this dedicated page for IPO allotment status.
Canarys Automations IPO Forms
For IPO form for the Canarys Automations IPO, you can check this dedicated page for IPO Forms.
Canarys Automations Company Financials
According to the Canarys Automation IPO prospectus, the company’s financials for the past three years are as follows:
| Financial Year | Revenue (₹ crores) | Profit After Tax (₹ crores) |
|---|---|---|
| 2022-23 | 30.54 | 2.44 |
| 2021-22 | 21.72 | 1.48 |
| 2020-21 | 15.62 | 0.94 |
As you can see, the company’s revenue and profit have grown steadily over the past three years. This is a good sign for investors, as it suggests that the company is well-managed and has a strong business model.
The company’s financials also show that it is profitable and has a healthy balance sheet. The company’s debt-to-equity ratio is 0.31, which is below the industry average. This suggests that the company is not excessively leveraged and has the financial capacity to support its growth plans.
Overall, the Canarys Automation Company financials are positive and suggest that the company is a good investment opportunity. However, investors should be aware of the risks associated with investing in a small company, such as limited market share and competitive landscape.
Note: The company’s financial statements for the financial year 2022-23 are still under audit. The above financials are based on the company’s unaudited financial statements.
Additional factors to consider:
- The company’s IPO is priced at the lower end of the price band. This suggests that the company is conservatively valued. However, investors should note that the company is still a small company with limited market share.
- The company’s IPO is opening during a volatile market environment. This could make it difficult for the company to raise the full amount of money that it is targeting.
- The company’s IPO is being subscribed by a mix of institutional and retail investors. This suggests that there is a good demand for the company’s shares from both types of investors.
Canarys Automations IPO Pros & Cons
Here is a table of the pros and cons of the Canarys Automations IPO:
| Pros | Cons |
|---|---|
| Growing company with a strong track record | Small company with limited market share |
| Experienced management team | Competitive landscape |
| Well-positioned to benefit from the growing demand for automation solutions in India | IPO proceeds may not be sufficient to fund all of the company’s growth plans |
| Conservatively valued | Volatile market environment |
Overall, the Canarys Automations IPO is a good opportunity for investors to invest in a growing company with a strong track record. However, investors should be aware of the risks associated with investing in a small company, such as limited market share and competitive landscape.
Additional factors to consider:
- The company’s IPO is opening during a volatile market environment. This could make it difficult for the company to raise the full amount of money that it is targeting.
- The company’s IPO is being subscribed by a mix of institutional and retail investors. This suggests that there is a good demand for the company’s shares from both types of investors.
Company Promoters
- Mr. Metikurke Ramaswamy Raman Subbarao
- Mr. Danavadi Krishnamurthy Arun
- Mr. Raghu Chandrashekhariah
- Mr. Sheshadri Yedavanahalli Srinivas
- Mr. Pushparaj Shetty
- Mr. Nagaraju Vineeth
Canarys Automations IPO Registrar
Link Intime India Private Ltd
Phone: +91-22-4918 6270
Email: canarys.ipo@linkintime.co.in
Website: https://linkintime.co.in/mipo/ipoallotment.html
Company Address
Canarys Automations Limited
No. 566 & 567, 2nd Floor, 30th Main,
Attimabbe Road, Banagirinagara,
Banashankari 3rd Stage, Bengaluru – 560085
Phone: +91 98458 62780
Email: nagashree.hegde@ecanarys.com
Website: https://ecanarys.com/
Canarys Automations IPO FAQs
The IPO is set to enter the market on September 27th and conclude on October 3rd. The company aims to gather approximately ₹47.03 crores through this IPO.
The IPO will open on 27th September 2023.
There are two ways to apply for the Canarys Automations IPO:
1. Through your bank
Most banks in India offer ASBA (Application Supported by Blocked Amount) facility, which allows you to apply for IPOs online using your bank account. To apply for the Canarys Automations IPO through your bank, follow these steps:
Log in to your net banking account.
Go to the ‘ASBA’ section.
Select the ‘Canarys Automations IPO’ from the list of available IPOs.
Enter the number of shares you want to apply for and the price you are willing to pay.
Block the required amount in your bank account.
Submit the application.
2. Through your broker
If you have a demat account with a stockbroker, you can also apply for the Canarys Automations IPO through your broker. To do this, you will need to fill out an IPO application form and submit it to your broker. Your broker will then submit the application to the stock exchange on your behalf.
Note: The minimum lot size for the Canarys Automations IPO is 600 shares. This means that you must apply for at least 600 shares. The price of each share is between ₹29 and ₹31.
Here are some additional tips for applying for IPOs:
Apply for IPOs as early as possible. IPOs are often oversubscribed, which means that there are more applications than shares available. If you apply early, you are more likely to get an allotment of shares.
Be sure to block the required amount in your bank account before applying for the IPO. If you do not have enough funds in your account, your application will be rejected.
Check the IPO status regularly. The IPO status will tell you whether your application has been accepted, rejected, or partially allotted.
Canarys Automations IPO size is ₹47.03 crores.
Canarys Automations IPO Price Band is ₹29 to ₹31 per equity share.
Canarys Automations IPO allotment date is October 6, 2023.
Canarys Automations IPO listing date is October 11, 2023. The IPO to list on NSE SME.