Slone Infosystems shares list at 50% premium on NSE SME platform

The IPO, which was completely a fresh equity issue of 14 lakh shares, received an overall subscription of over 600 times at close, driven by strong interest from non-retail investors.

The net proceeds from the will be used for capital expenditure, repayment of debt, working capital requirements and other general corporate purposes.

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Slone Infosystems is an company, engaged in selling and renting of and in providing IT service solutions in India.

It deals in selling and renting of IT equipment like laptops, desktops, servers, work stations and also provides IT solution services like managing cloud servers, servicing of IT equipment to the corporates.

The company also provides custom made solutions to clients for their IT requirements. It procures IT equipment for the clients based on the requirement and then either sells or rents the equipment.

The company says it provides flexibility and advantage to acquire the requisite equipment that their clients need to maximize productivity without compromising the IT budget.

The of electronic items has increased from Rs 3.17 lakh crore in 2016-17 to Rs 6.4 lakh crore ($87.1 billion) in 2021-22, growing at a Compound Annual Growth Rate (CAGR) of 15%. India’s electronics production is expected to reach $300 billion by 2026.

For the period ended December 2023, the company clocked revenues of Rs 34.34 crore and net profit of Rs 2.84 crore.

acted as the lead manager to the issue and was the registrar.