Slone Infosystems IPO Listing
Slone Infosystems IPO Listing: The ₹11.06 crore IPO of Slone Infosystems was open for subscription from May 3-May 7. Today its shares have been listed.
Slone Infosystems IPO Listing: Shares of Slone Infosystems, which sells and rents IT products like laptops, desktops, had a successful entry on the SME platform of NSE today.
Its IPO received overall bids of more than 667 times. Under the IPO, shares have been issued at a price of Rs 79. Today it has entered NSE SME at Rs 118.50, which means IPO investors got 50 percent listing gain (Slone Infosystems Listing Gain).
However, the joy of IPO investors vanished shortly after the shares crashed. It fell to the lower circuit of Rs 112.60 (Slone Infosystems Share Price) and also closed, that is, IPO investors are now in 42.53 percent profit.
Slone Infosystems IPO got a strong response
Sloan Infosystems' ₹11.06 crore IPO was open for subscription from May 3-May 7. This IPO received a tremendous response from investors and overall it was subscribed 667.81 times.
In this, half the share reserved for retail investors was filled 540.80 times. New shares worth Rs 175 crore have been issued under this IPO. Apart from this, 14 lakh new shares with face value of Rs 10 have been issued.
The company will use the money raised through these shares for purchasing laptops, desktops, SSD and RAM, repaying loans and for general corporate purposes.
Sloan Infosystems, formed in December 2022, provides IT hardware solutions. It sells and rents a range of IT equipment such as laptops, desktops, servers and workstations.
Talking about the financial health of the company, it has continuously strengthened.
In the financial year 2021, it had a net profit of Rs 27.54 lakh, which jumped to Rs 38.31 lakh in the next financial year 2022 and to Rs 74.66 lakh in the financial year 2023.
During this period, the company's revenue increased at a compound growth rate (CAGR) of more than 21 percent annually to Rs 30.77 crore.
Talking about the last financial year 2023-24, it has achieved a net profit of Rs 2.85 crore and revenue of Rs 34.35 crore in April-December 2023.