IPO Details
Bidding Dates
06 Jul '23 - 11 Jul '23
Minimum Investment
₹144,000 / 1 Lots (1600)
Price Range
₹90
Maximum Investment
₹144,000 / 1 Lots (1600)
Retail Discount
Not Applicable
Issue Size
₹5.69 Cr
Investor category and sub category
Qualified Institutional Buyers | Non-Institutional Investors | Retail Individual Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Opening Date
Jul 6, 2023
IPO Closing Date
Jul 11, 2023
Basis of Allotment
Jul 14, 2023
Initiation of Refunds
Jul 17, 2023
Credit of Shares to Demat Account
Jul 18, 2023
IPO Listing Date
Jul 19, 2023
UPI Mandatory Expiry Date
Jul 11, 2023
IPO Subscription Details
| Date | NII | Retail | Total |
|---|---|---|---|
Day 1Jul 6, 2023 |
2.11 | 1.07 | 1.59 |
Day 2Jul 7, 2023 |
3.30 | 4.57 | 3.93 |
Day 3Jul 10, 2023 |
5.62 | 16.07 | 10.85 |
Day 4Jul 11, 2023 |
16.08 | 34.22 | 22.16 |
IPO Subscription Status Live
| Investor Category | Subscription (Times) |
|---|---|
| Non-Institutional Buyers | 16.08 |
| Retail Investors | 34.22 |
| Total | 25.16 |
About Company
AccelerateBS India Limited is a leading Digital Technology Services company that offers a wide range of specialised solutions to both B2B and B2C companies around the world. One of the key areas of expertise for AccelerateBS lies in Digital Experience Platforms (DXP) consulting and implementation services. They have built in-house capabilities across industry-leading enterprise DXP platforms such as Crownpeak, Optimizely, Contentful, and Strapi.
This expertise covers various layers of DXP, including front-end, middleware, backend, and custom integrations with popular products like Salesforce, Marketo, Brightcove, Adobe Omniture, SAP Commerce, and more. The company also has full-stack Microsoft and Node-based capabilities and is engaged in doing new-age decoupled builds with API first and microservices-based architectures.
AccelerateBS India Limited IPO Details
AccelerateBS India Limited IPO is a fresh issue comprising 188,800 shares aggregating up to ₹ 169.92 lakhs and has an offer for sale of 443,200 Equity Shares aggregating to ₹398.88 lakhs. The price band is set to ₹90 per share with a face value of ₹10 per share. The lot size is 1600 shares. It will be listed on BSE SME.
AccelerateBS India Limited IPO Objectives
The company proposes to use the net proceeds from the issue towards funding:
- Long-term working capital requirements.
- General corporate purposes.
Peer Details
Happiest Minds Technologies Limited, Persistent Systems Limited, Kellton Tech Solutions Limited, Saksoft Limited, and CG-Vak Software & Exports Limited are the listed peer companies operating in the same business line.
Highlights of AccelerateBS India Ltd
- AccelerateBS India is an agile, experienced service provider that offers a complete range of custom software development and consulting services in the Digital Transformation space. From idea to design to development and deployment, its proven consulting and development methodologies enable the company to consistently deliver robust and scalable software systems on time and within budget.
- The company’s restated profit after tax for the financial years 2020, 2021 and 2022 and the period ended September 08, 2022, and January 31, 2023, was ₹68.35 Lakhs, ₹42.53 Lakhs, ₹25.91 Lakhs, ₹33.00 Lakhs and ₹26.22 Lakhs, respectively which marks slight inconsistency.
The company is one of the oldest and an experienced Crownpeak (leading, enterprise-grade, cloud-first Digital Experience Management platform) practices in India. It is also now officially part of Magnet Network.
Company Financials
| Particulars | For the period ended Jan 31, 2023 (Rs. lakhs) | For the period ended Sep 08, 2022 (Rs. lakhs) | March 31, 2022 (Rs. lakhs) |
|---|---|---|---|
| Revenue from Operations | 160.58 | 178.36 | 352.21 |
| EBITDA | 39.93 | 54.48 | 47.60 |
| EBITDA Margin | 24.86% | 30.55% | 13.51% |
| Profit After Tax (PAT) | 26.22 | 33.00 | 25.91 |
Know before investing
Strengths
2-
Having a MAGNET membership validates the company’s global and local credibility and provides scale, enhanced competitive muscle, partnerships, thought leadership and access to global markets.
-
On the DXP Platform side, AccelerateBS is a listed and certified solution/service partner with Crownpeak Technology, Inc. Denver, USA, Contentful, Germany and Optimizely, London. As on January 2023, Optimizely has 9 solution partners in India, and Crownpeak has 4 partners in India – and AccelerateBS is one of them.
Risks
2-
The company has had negative cash flows in the past years, and the continuation of this trend could impact its growth and business.
-
An inability to compete successfully against the competitors, pricing pressures or loss of market share could materially adversely affect AccelerateBS’s business, financial condition and results of operations.
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AccelerateBS India Ltd IPO FAQs
The AccelerateBS India Ltd IPO is a fresh issue comprising 188,800 shares aggregating up to ₹ 169.92 lakhs and has an offer for sale of 443,200 Equity Shares aggregating to ₹398.88 lakhs. The issue is priced at ₹90 per share. The IPO will open on Thursday, 6 July 2023.
The Basis of Allotment will happen on Friday, 14 July 2023.
The IPO subscription window will open on Thursday, 6 July 2023.
Retail investors can apply for a minimum of one lot, which consists of 1600 shares.
AccelerateBS India Ltd IPO will list on the BSE exchange on Wednesday, 19 July 2023.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
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- Enter your application number, DP ID, and PAN number into the app
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Listing gains cannot be ascertained before the listing of the IPO on the stock exchange, which is Wednesday, 19 July 2023, for AccelerateBS India Ltd.
The bank will only block the amount initially in your account. Under the new system, the money isn’t debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
