IPO Details
RHP/DRHPIssue Date
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Investment/lot
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Price Range
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Lot Size
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IPO Size
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Schedule of Senrysa Technologies IPO
Start date
End date
Allotment of bids
Refund Initiation
Listing on exchange
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
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Funding working capital requirements of the company.
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Investment in developing new solutions in the company.
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Investment in their subsidiary for upgrading/updating existing products.
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Branding, advertisement and marketing activities in their subsidiary.
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Funding inorganic growth through unidentified acquisitions and general corporate purposes.
Senrysa Technologies IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | TBA |
Existing Shares to be Sold | -- |
Fresh Issue | Up to 70,00,000 equity shares |
EPS (₹) For the year ended March 31, 2024 | 4.96 |
Senrysa Technologies IPO Lot Size
| Investor Category | Shares Offered |
|---|---|
QIBs Share Offered | Not more than 50% |
Non-Institutional Investors (NIIs) | Not less than 15% |
Retail Individual Investors | Not less than 35% |
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.
Strengths of Senrysa Technologies IPO
Track record in executing projects for banks, PSUs and corporate clients.
They have a track record in executing projects for banks, government and corporate clients. Their work for banks, PSUs and corporates is focused on the usage of IT infrastructure solutions to digitise business processes.
Diversified revenue streams.
Their business has diversified revenue streams including one-time cost (OTC) and recurring revenue, which are typically spread over a five-year period. The OTC can be settled in one or multiple installments. This structure ensures financial flexibility and alignment with client project milestones.
Recurring and non-recurring, repeat revenues from long-standing customer relationships.
They have long-standing relationships with their customers. Their broad range of product and service offerings helps them to cross-sell to their existing customers as well as to acquire new customers. They also conduct regular senior management reviews with their key customers to engage with them for feedback and future opportunities.
Risks of Senrysa Technologies IPO
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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.
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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.
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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.
Senrysa Technologies IPO Financials
Peers Comparison
| Parameter | Senrysa Technologies Limited | Protean eGov Technologies Limited | Trust Fintech Limited |
|---|---|---|---|
Revenue from operations for the year ended March 31, 2024 (₹ in crores) | 74.01 | 882.04 | 35.04 |
P/E | --- | 81.62 | 29.45 |
EPS (Diluted) (₹) | 4.96 | 24.06 | 7.13 |
Return on Net Worth (%) | 20.97 | 10.50 | 27.71 |
NAV per share (₹) | 25.89 | 228.97 | 25.71 |
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.
Senrysa Technologies Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Revenue from operations (₹ crores) | 55.06 | 63.81 | 74.01 |
Profit Before Tax (₹ crores) | 10.49 | 2.43 | 10.41 |
Net profit / (loss) (₹ crores) | 7.586 | 1.38 | 7.63 |
EBITDA (₹ crores) | 10.76 | 3.28 | 11.92 |
EPS (₹) | 4.93 | 0.9 | 4.96 |
Senrysa Technologies Cash Flow
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax (₹crores) | 10.49 | 2.43 | 10.41 |
Net Cash from Operating Activities (₹ crores) | 5.61 | -3.31 | 1.38 |
Net Cash from Investing Activities (₹ crores) | -8.90 | 4.49 | -8.67 |
Net Cash from Financing Activities (₹ crores) | 0.27 | -1.09 | 7.04 |
Cash and Cash Equivalents (₹ crores) | 0.45 | 0.53 | 0.27 |
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.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
Senrysa Technologies IPO FAQs
Where can I read more about Senrysa Technologies business?
You can read more about Senrysa Technologies and its IPO from the company’s red herring prospectus (RHP) here.
What is the Senrysa Technologies IPO?
The Senrysa Technologies Limited IPO has an issue size of up to 70,00,000 equity shares. The IPO opens for subscription on TBA and closes on TBA.
Who is the Registrar for Senrysa Technologies IPO?
KFin Technologies Limited is the registrar for this IPO.
