Slone Infosystems share price made a blockbuster debut on NSE SME today. Slone Infosystems share price opened at ₹118.50, which is 50% higher than the issue price of ₹79.
The Slone Infosystems IPO subscription period began on Friday, May 3, and closed on Tuesday, May 7. The Slone Infosystems IPO price band was established at ₹79, with each equity share having a face value of ₹10. There were 1,600 shares offered in a lot size for the Slone Infosystems IPO. Multiples of 1,600 were used to submit applications for equity shares, with a minimum of 1,600 shares required. Slone Infosystems IPO subscription status was 667.81 times on the third day.
The prospectus describes Slone Infosystems as an IT hardware solutions company that sells and rents IT equipment in addition to offering IT service solutions in India. In addition to selling and renting out IT hardware, such as workstations, servers, laptops, and desktops, the firm also provides IT solution services, such as cloud server management and corporate IT equipment maintenance.
The company works in a variety of business sectors, including renting out computers, selling other IT-related goods, and offering IT service solutions in addition to laptops, PCs, and computer accessories.
The company’s listed peers are Brisk Technovision Ltd. (P/E of 14.61) and Benchmark Computer Solutions Ltd. (P/E of 0.03), according to the prospectus.
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 objectives of the current equity share sale are the company’s general business purposes, the repayment or payback of some of its debts, and capital expenditures for the acquisition of laptops, desktop computers, SSDs, and RAM.
The Slone Infosystems initial public offering (IPO) is being registered by Kfin Technologies Limited, with Jawa Capital Services Private Limited serving as the book running lead manager. For the Slone Infosystems IPO, Aftertrade Share Broking is serving as the market maker.
(more to come)
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Published: 10 May 2024, 10:01 AM IST