What is the issue size of Canarys Automations IPO?

The issue size of the Canarys Automations IPO is Rs 47.03 cr

What is 'pre-apply' for Canarys Automations IPO?

Pre-apply will alow you to apply for the Canarys Automations IPO 2 days before the subscription period starts.

If I pre-apply for Canarys Automations IPO, when will my order get placed?

Your order will be placed on the exchange as soon as the Canarys Automations IPO bidding starts. You will receive a UPI request within 24 hours after the bidding period opens.

When will I know if my Canarys Automations IPO order is placed?

We will notify you when your Canarys Automations IPO order is placed with the exchange.

What are the open and close dates of the for Canarys Automations IPO?

Canarys Automations IPO will be open between 27 Sept - 3 Oct, 2023.

What is the lot size and minimum order quantity of the Canarys Automations IPO?

Canarys Automations Limited IPO lot size is 4000 shares.

What are the allotment dates for the Canarys Automations IPO?

Canarys Automations IPO allotment date is 6 Oct, 2023. For Canarys Automations IPO allotment status check, you can visit the website of the registrar of the IPO.

Who is the registrar of Canarys Automations IPO?

Canarys Automations IPO registrar is Link Intime India Private Ltd. You can check Canarys Automations IPO allotment status on the website of the registrar.

Where is the Canarys Automations IPO getting listed?

The shares are proposed to be listed on NSE SME.

Canarys Automations IPO

Canarys Automations Limited

₹1,16,000 /4000 sharesMinimum Investment

Canarys Automations IPO Listing DetailsListed OnIssue PriceListing PriceListing Gains
NSE₹31.00₹43.00₹12.00 (38.71%)
Canarys Automations IPO DetailsBidding DatesMin. InvestmentLot SizePrice Range
27 Sep ‘23 - 3 Oct ‘23₹1,16,0004,000₹29 - ₹31
Issue SizeIPO Doc
47.03CrRHP PDF
About Canarys AutomationsEstablished in 1991, Canarys Automations is a prominent IT solutions provider boasting three decades of experience in the industry.
The company operates within two distinct verticals:
Technology Solutions: They offer a diverse range of consulting solutions, including Digitalization, Modernization, Cloudification, Automation, Transformation, and Intelligence. Their technology expertise spans DevOps Consulting (utilizing Azure, GitHub, Atlassian, GitLab, and more), Cloud Consulting (involving Azure, AWS, GCP), Digital Enterprise Solutions employing SAP, MS Dynamics 365, RPA, Digital Applications, and Mobility Solutions.
Water Resource Management Solution: Canarys provides automation solutions aimed at modernizing irrigation, enhancing water conservation, optimizing water use efficiency, conducting turnkey flood risk assessments and mitigation, implementing cloud-based automation for water sharing in rivers and canals, and deploying SCADA gate control systems.
Canarys Automations' solutions cater to a wide range of industry sectors, including BFSI, Retail, Healthcare, Pharmaceutical, Manufacturing, Insurance, and more.;
Parent Organisation
Canarys Automations Limited
Founded
1991
Managing Director
Mr. Metikurke Ramaswamy Raman Subbarao
Strengths & Risks
Canarys Automations has been providing business applications to around 1000 customers for over three decades. They've served clients not only in India but also in more than ten countries, including the USA, UK, Canada, Germany, Singapore, Malaysia, Brunei, Australia, Sri Lanka, and Indonesia.
During the fiscal years 2021 to 2023, their total revenue increased at a rate of 43%, and their profit after tax saw a growth of 59.49%.
Canarys Automations has developed advanced DevOps solutions, frameworks, and processes to assist customers in smoothly transitioning to the DevOps platform, covering all aspects of transformation and consolidation.
They have also created industry-specific and technology-specific solutions that demonstrate their technological capabilities to both current and potential clients.
With a strong focus on digital transformation, Canarys Automations empowers businesses to optimize their operations, improve customer experiences, and maintain a competitive edge. 
Their commitment to excellence has earned them recognition and accolades from various customers, alliance partners, and OEMs.
Canarys Automations relies heavily on customers in the United States for its revenue. In 2023, 2022, and 2021, US customers accounted for 23.52%, 17.39%, and 24.82% of its revenue, with a single US customer contributing 6.00%, 3.72%, and 7.27% in the same periods.
Canarys Automations lacks long-term commitments with customers, making it vulnerable to contract terminations, unfavorable terms, or non-renewals, which could negatively affect its financial stability. 
The company's revenue heavily relies on specific industry sectors, such as BFSI, healthcare, manufacturing, pharmaceuticals, and insurance. If demand for services in these sectors drops, the company's financial standing could be harmed. 
Canarys Automations uses third-party open-source software in its customer deliverables, and not complying with the open-source software licenses could lead to customer issues and potential legal liabilities.
The company has a history of losses, and future losses could impact its operations, financial condition, and stock price.
There is no suitable location identified for a new delivery center in Karnataka, India.
The company has taken unsecured loans, with an outstanding amount of Rs. 543.70 Lakh as of March 31, 2023.
Subsidiaries and joint ventures of the company have incurred losses in the past.
There are ongoing legal proceedings involving the company, and unfavorable outcomes could materially affect its business and financial condition.
For the past three financial years, the company has experienced negative cash flow in its operating activities.
Financials
*All values are in Rs. Cr
No Graph Data To Display
Application detailsApply asPrice bandApply upto
Regular₹29 - 31₹2 Lakh
High Networth Individual₹29 - 31₹2 - 5 Lakh
For Canarys Automations IPO, eligible investors can apply as Regular.

Listed On	Issue Price	Listing Price	Listing Gains
NSE	₹31.00	₹43.00	₹12.00 (38.71%)

Bidding Dates	Min. Investment	Lot Size	Price Range
27 Sep ‘23 - 3 Oct ‘23	₹1,16,000	4,000	₹29 - ₹31

Issue Size	IPO Doc
47.03Cr	RHP PDF

Apply as	Price band	Apply upto
Regular	₹29 - 31	₹2 Lakh
High Networth Individual	₹29 - 31	₹2 - 5 Lakh

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