Senrysa Technologies IPO

About Senrysa Technologies IPO

Senrysa Technologies Limited IPO is an IPO of up to 70,00,000 equity shares. It consists of a fresh issue of up to 70,00,000 equity shares. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA, and the initiation of refunds will take place on TBA.

Objective of Senrysa Technologies IPO

• Funding working capital requirements of the company.

• Investment in developing new solutions in the company.

• Investment in their subsidiary for upgrading/updating existing products.

• Branding, advertisement and marketing activities in their subsidiary.

• Funding inorganic growth through unidentified acquisitions and general corporate purposes.

Industry Outlook

The IT & BPM sector has become one of the most significant growth catalysts for the Indian economy, contributing significantly to the country’s GDP and public welfare. The IT industry accounted for 7.5% of India’s GDP in FY23, and it is expected to contribute 10% to India’s GDP by 2025. As innovative digital applications permeate sector after sector, India is now prepared for the next phase of growth in its IT revolution. India is viewed by the rest of the world as having one of the largest internet user bases and the cheapest internet rates, with 76 crore citizens now having access to the internet.

India's IT industry is likely to hit the US$35,000 crore mark by 2026 and contribute 10% towards the country's gross domestic product (GDP), Infomerics Ratings said in a report. As an estimate, India’s IT export revenue rose by 9% in constant currency terms to US$19,400 crore in FY23. Exports from the Indian IT services industry stood at US$19,900 crore in FY24.

BPM and engineering and R&D (ER&D) and software products exports accounted for 22% and 25%, respectively, of total IT exports during FY23. Exports from the Indian IT industry stood at US$19,400 crore in FY23. The export of IT services was the major contributor, accounting for more than 51% of total IT exports (including hardware). BPM, and software products and engineering services accounted for 19.3% and 22.1% each of total IT exports during FY23. The IT industry added 2,90,000 new jobs, taking the industry’s workforce tally to 54,00,000 people in FY23.

Company Information

Senrysa Technologies Limited, founded in 2011 with a focus on technological innovation, creates sustainable digital ecosystems with a vision to bridge the digital divide in India, particularly targeting rural and underserved areas. They are a technology-enabled digital service provider, engaged in providing IT infrastructure solutions, IT-managed services, and banking correspondent services. Their mission is to empower communities and businesses by leveraging advanced technology solutions across diverse sectors, including banking, financial services, retail and governance.

Risks of Senrysa Technologies IPO

• They are dependent on their empanelled vendors for various hardware and software products which they provide to their clients. The failure of their empanelled vendors to deliver these products in the necessary quantities, on time, or to meet specified quality standards or technical specifications could adversely affect their business and their ability to deliver orders on time. : They source various hardware products such as servers, laptops, desktops, printers, webcams, interactive panels, point-of-sale machines, storage hardware, and third-party software products such as operating system software, database software, antivirus software, and other allied hardware and software products from their empanelled vendors. Thus, any failure on the part of their vendors to deliver products in necessary quantities, to adhere to delivery schedules, or to meet specified quality standards or technical specifications could adversely affect their ability to deliver orders on time to their clients.

• They rely on independent contractors and third-party service providers for some part of their services, and any failure on their part to perform their obligations could adversely affect their reputation, business, results of operations, and cash flows.: From time to time, they utilise independent contractors and third-party service providers for some part of their services, such as cloud services, electrification, installation, networking, logistics, and contractual employees/workers, depending upon the requirements of projects awarded to them. Since they utilise independent contractors and third-party service providers, they cannot control all the factors that might affect the quality and fulfilment of these services and products.

• Their business is highly dependent on electricity, and any disruption or failure in the power supply may affect their operations. : In an IT firm, where seamless functioning of servers, networks, and systems is critical, even a brief power outage can lead to downtime, data loss, and potential security vulnerabilities. This not only hampers productivity but may adversely affect their business, financial condition, results of operations, and prospects, resulting in delayed project deliveries, increased operational costs, and damage to client relationships.

IPO Registrar and Book Running Lead Managers

Book running lead managers: Smart Horizon Capital Advisors Private Limited

Registrar for the IPO : KFin Technologies Limited

Business Model

The company earns its revenue through the following sources:

Providing IT infrastructure solutions, IT-managed services, and banking correspondent services.

Company Growth Trajectory

Revenue from operations has shown a growth of 15.99% from ₹63.815 crore in fiscal 2023 to ₹74.0187 crore in fiscal 2024. The company reported a net profit of ₹7.636 crore in fiscal 2024 as compared to a net profit of ₹1.340 crore in fiscal 2023 which got increased due to higher revenue from operation at increased margins and reduction in operating expenses due to increased operational efficiency during the year. The PAT margin improved to 10.32% in Fiscal 2024 from 2.16% in Fiscal 2023.

Company Market Position

Currently, they serve customers in various states of India including Maharashtra, West Bengal, Uttar Pradesh, Tripura, Madhya Pradesh, Delhi, Assam, etc.

How To Check Allotment Status of Senrysa Technologies IPO?

You can check the allotment status of shares either on the website of the National Stock Exchange (NSE) or on the website of the registrar KFin Technologies Limited. To check the status on the NSE website:

• Visit the NSE website
• Click on “Investor Services” and choose “Application Status Check”
• Choose the issue type — Equity or Debt (Equity in this case)
• Select the Issue Name from the drop-down. The issue name is the company’s name, which is Senrysa Technologies Limited
• Enter your application number or PAN number
• Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status

Follow these steps to know the allotment status on the registrar’s website:

• Visit the KFin Technologies Limited website
• Choose “Public Issues” from the “Investor Services” drop-down
• Select Senrysa Technologies Limited from the drop-down
• Enter your PAN number or Application number
• Click on “Submit” to know the allotment status

How To Apply for Senrysa Technologies IPO?

• Step 1: Log in to your Kotak Securities Demat account: Log in to your Demat account to access IPO investments. Next, select the current IPO section.
• Step 2: Specify IPO details: Enter the number of lots and the price you wish to apply for.
• Step 3: Enter UPI ID After entering your UPI ID, click submit. This will place your bid with the exchange.
• Step 4: Mandate Notification: Your UPI app will receive a mandate notification to block funds.
• Step 5: Approve Request Your funds will be blocked once you approve the mandate request on your UPI.