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Canarys Automations IPO

Canarys Automations IPO

  • Status: Closed
  • RHP:
  • ₹ 116,000 / 4000 shares

    Minimum Investment

IPO Details

  • Open Date

    27 Sep 2023

  • Close Date

    03 Oct 2023

  • IPO Price Range

    ₹ 29 to ₹ 31

  • IPO Size

    ₹ 47.03 Cr

  • Listing Exchange

    NSE SME

  • Listing Date

    11 Oct 2023

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Timeline Subscription Status Objective Financials SWOT FAQ Contacts

IPO Timeline

Canarys Automations IPO Subscription Status

Last Updated: 03 January 2024 8:57 PM by 5Paisa

Canarys Automations Limited IPO is all set to open from 27th September to 3rd October 2023. The company is involved in the business of providing IT solutions for Digitalization, Modernization, Automation, and Intelligence. The IPO includes a fresh issue of 15,172,000 shares worth ₹47.03 cr. The share allotment date is 6th October, and the IPO will be listed on 11th October, on the stock exchanges. The price band is ₹29 to ₹31 per share and the lot size is 4000 shares.    

Indorient Financial Services Limited is the book-running lead manager for this IPO, while Link Intime India Private Limited is the registrar. 

Objectives of Canarys Automations IPO

Canarys Automations plans to utilize the raised capital from the IPO to:

●    To fund capital expenditure related to solutions development for digital transformation and water resources management solutions.
●    For expenses related to the Creation of a new delivery center including infrastructure and upgrading existing facilities.
●    For working capital requirements.
●    General corporate purpose.
 

Established in 1991, Canarys Automations is involved in the business of providing IT solutions for Digitalization, Modernization, Automation, and Intelligence. The company’s solutions cater to a diverse range of industries, including BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, Insurance, and more.

Canarys Automations operates through two primary business segments:

Technology Solutions: This includes a wide range of consulting services covering Digitalization, Modernization, Cloudification, Automation, Transformation, and Intelligence. It also includes technological expertise related to DevOps Consulting (with tools like Azure, GitHub, Atlassian, GitLab, etc.), Cloud Consulting (Azure, AWS, GCP), Digital Enterprise Solutions utilizing SAP, MS Dynamics 365, RPA, Digital Applications, and Mobility Solutions.
Water Resource Management Solutions: This includes automation solutions aimed at modernizing irrigation practices, enhancing water conservation, and optimizing water utilization. The offerings entail comprehensive flood risk assessment and mitigation solutions, cloud-based automation for efficient water sharing in rivers and canals, as well as SCADA gate control systems.

With a track record of serving over 1,000 customers, the company has a presence in India as well as more than 10 countries, including the USA, UK, Canada, Germany, Singapore, Malaysia, Brunei, Australia, Sri Lanka, and Indonesia. 

Peer Comparison

●    All E Technologies Limited
●    Happiest Minds Limited
 

Profit and Loss

Balance Sheet

Particulars (in Rs. Crores) FY23 FY22 FY21
Revenue 74.52 51.51 25.62
EBITDA 13.47 7.06 3.34
PAT 8.53 4.56 2.10
Particulars (in Rs. Crores) FY23 FY22 FY21
Total Assets 63.78 47.54 20.03
Share Capital 9.28 9.28 7.11
Total Borrowings 38.40 30.70 7.45
Particulars (in Rs. Crores) FY23 FY22 FY21
Net cash generated from / (used in) operating activities -6.19 -2.65 -1.60
Net cash from / (used in) investing activities -1.78 0.26 -1.38
Net cash flow from / (used in) financing activities 4.60 8.46 5.64
Net increase (decrease) in cash and cash equivalents -3.38 6.07 2.66


Strengths

1.    The company has developed cross-integration across locations, which increases operational efficiency.
2.    Follows strict guidelines and highest standards for hydrology, meteorology, and IT consulting space. 
3.    Pritoize sustainable practices for future-proof solutions. 
4.    Focus on delivering higher quality to customers. 
5.    It has an experienced management team and employee base.
 

Risks

1.    Revenues from operations are highly dependent on customers in the USA/US. Adverse economic conditions or factors that negatively affect the economic situation of that country could materially adversely affect the business.
2.    Global operations expose the company to numerous and sometimes conflicting legal and regulatory requirements.
3.    Dependent on authorities of the Central government and State governments for a substantial proportion of the business and revenue. 
4.    Any increase in operational costs could adversely affect the results of operations. 
5.    Loss reported in the past.
6.    Significant working capital requirements.
 

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FAQs

The minimum lot size of Canarys Automations IPO is 4000 shares and the investment required is ₹1,04,000.

The price for Canarys Automations IPO is ₹29 to ₹31 per share. 

Canarys Automations IPO opens from 27th September to 3rd October 2023.
 

The size of Canarys Automations IPO is ₹47.03 cr. 

The share allotment date of Canarys Automations IPO is 6th October 2023.

The Canarys Automations IPO will be listed on 11th October 2023.

Indorient Financial Services Limited is the book-running lead manager for Canarys Automations IPO.

Canarys Automations plans to utilize the raised capital from the IPO to:

1.    To fund capital expenditure related to solutions development for digital transformation and water resources management solutions.
2.    For expenses related to the Creation of a new delivery center including infrastructure and upgrading existing facilities.
3.    For working capital requirements.
4.    General corporate purpose. 
 

To apply for Canarys Automations IPO, follow the steps given below:

●    Login to your 5paisa account and select the issue in the current IPO section    
●    Enter the number of lots and the price at which you wish to apply for the Canarys Automations IPO.    
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.    
●    You will receive a mandate notification to block funds in your UPI app.