Sahana System Limited IPO

About the Company

Sahana System Limited is incorporated in 2020 and offers IT - relating services. It is a registered start-up and is recognised by the Department for Promotion of Industry and Internal Trade, Ministry of Commerce & Industry. This certificate is valid for 10 years, which entitles the company to a host of privileges for instance they can enjoy exemption from angel tax.

Products

The services offered by the company include mobile application development, web app development, AI & ML development, product prototyping and ChatBot development.

IPO details

IPO subscription dates: May 31 to June 2, 2023

Price: Rs. 132 – Rs. 135 per share

Lot size: 1000 shares

IPO Objective

The amount raised would be used:

1. To meet the working capital requirements
2. For the installation of EV charging Station
3. For the General Corporate Purposes
4. To meet the issue expenses

Company Financials

Strengths

• The company offers end-to-end IT services and ensures quality work.
• They are recognised with several Certifications, Awards and Accreditations.
• Leveraging the experience of their Promoter

Major Business-Related Risk

• One of the Objects of the issue is for installation of an EV charging station in which promoter has no experience.
• The company was unable to procure confirmed order from New & Renewable Energy Development Corporation of Andhra Pradesh Limited (NREDCAP) for the purpose for which funds are being raised from this Issue.
• The Secured Loan from Tamilnad Mercantile Bank Limited (TMB) is not transferred by the bank from partnership to its company name. 

How to apply for a Quick IPO on ICICIdirect?

• Select IPO

Go to the IPO section, select the IPO you want to apply for from the list, and click on ‘Apply’.

• Fill in the required details

Fill in the number of shares you want to buy. To apply at maximum price, check the cut-off price box and amount is auto-calculated. If you want to apply at some other price within the price band, then you can enter the price manually by clicking on the “Add bid” option.

• Confirm your request

Click on proceed to confirm the order. You can view the placed order under “Order book”. If you are applying using UPI, check the A/C and UPI details before clicking on proceed. You will get a UPI link through which the payment can be made.

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