Kody Technolab IPO is a fixed price issue of Rs 27.52 crores. The issue is entirely a fresh issue of 17.2 lakh shares.
Kody Technolab IPO bidding opened for subscription on September 15, 2023 and will close on September 20, 2023. The allotment for the Kody Technolab IPO is expected to be finalized on Monday, September 25, 2023. Kody Technolab IPO will list on NSE SME with tentative listing date fixed as Thursday, September 28, 2023.
Kody Technolab IPO price is ₹160 per share. The minimum lot size for an application is 800 Shares. The minimum amount of investment required by retail investors is ₹128,000. The minimum lot size investment for HNI is 2 lots (1,600 shares) amounting to ₹256,000.
Beeline Capital Advisors Pvt Ltd is the book running lead manager of the Kody Technolab IPO, while Kfin Technologies Limited is the registrar for the issue. The market maker for Kody Technolab IPO is Spread X Securities.
Refer to Kody Technolab IPO RHP for detailed information.
Kody Technolab IPO Details
| IPO Date | September 15, 2023 to September 20, 2023 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price | ₹160 per share |
| Lot Size | 800 Shares |
| Total Issue Size | 1,720,000 shares (aggregating up to ₹27.52 Cr) |
| Fresh Issue | 1,720,000 shares (aggregating up to ₹27.52 Cr) |
| Issue Type | Fixed Price Issue IPO |
| Listing At | NSE SME |
| Share holding pre issue | 4,653,780 |
| Share holding post issue | 6,373,780 |
| Market Maker portion | 86,400 shares Spread X Securities |
Kody Technolab IPO Reservation
Kody Technolab IPO a total of 1,720,000 shares are offered. RII: 816,800 (47.49%), NII: 816,800 (47.49%).
| Anchor Investor Shares Offered | – |
| Market Maker Shares Offered | 86,400 (5.02%) |
| Other Shares Offered | 816,800 (47.49%) |
| Retail Shares Offered | 816,800 (47.49%) |
| Total Shares Offered | 1,720,000 (100%) |
Kody Technolab IPO Timeline (Tentative Schedule)
Kody Technolab IPO opens on September 15, 2023, and closes on September 20, 2023.
| IPO Open Date | Friday, September 15, 2023 |
| IPO Close Date | Wednesday, September 20, 2023 |
| Basis of Allotment | Monday, September 25, 2023 |
| Initiation of Refunds | Tuesday, September 26, 2023 |
| Credit of Shares to Demat | Wednesday, September 27, 2023 |
| Listing Date | Thursday, September 28, 2023 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 20, 2023 |
Kody Technolab IPO Lot Size
Investors can bid for a minimum of 800 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 800 | ₹128,000 |
| Retail (Max) | 1 | 800 | ₹128,000 |
| HNI (Min) | 2 | 1,600 | ₹256,000 |
Kody Technolab IPO Promoter Holding
Mr. Manav Subhashchandra Patel, Mrs. Manali Krunal Patel and Mrs. Pooja Sunny Patel are the promoters of the company.
| Share Holding Pre Issue | 100.00% |
| Share Holding Post Issue | 73.01% |
About Kody Technolab IPO
Incorporated in 2017, Kody Technolab Limited provides software development services to a diverse set of industries.
The company provides Staff Augmentation, ML Development, AR Development and Implementation, Enterprise Mobility, CX Strategy and Design, Digital Transformation, Business Analytics and intelligence, Artificial Intelligence Robotics IT Consulting, Mobile and Web App Development, Internet of Things (IoT) services, and IT consulting services.
As of June 2023, the Company has over 106 employees, comprising developers, designers, project managers, and quality assurance specialists.
For the year ended March 31, 2023, Kody Tech’s Total Income and Restated Profit after tax were Rs. 1109.10 Lakhs and Rs. 318.09 Lakhs. For the year ended March 31, 2022, the company’s Total Income and Restated Profit after tax were Rs. 384.20 Lakhs and Rs. 62.13 Lakhs, as compared to the Total Income and Restated Profit after tax of Rs. 248.16 Lakhs and Rs. (10.80) Lakhs respectively, over the previous year ended i.e. March 31, 2021.
Company Financials
| Period Ended | 31 Mar 2021 | 31 Mar 2022 | 31 Mar 2023 |
| Assets | 115.14 | 238.04 | 1,452.55 |
| Revenue | 248.16 | 384.20 | 1,109.10 |
| Profit After Tax | -10.80 | 62.13 | 318.09 |
| Net Worth | -171.16 | -109.03 | 469.35 |
| Reserves and Surplus | -172.16 | -110.03 | 123.99 |
| Total Borrowing | 150.39 | 161.47 | 746.79 |
Amount in ₹ Lakhs
Key Performance Indicator
Kody Technolab IPO Market Cap is Rs 101.98 Cr and P/E (x) is 22.66.
| KPI | Values |
|---|---|
| P/E (x) | 22.66 |
| Post P/E (x) | 32.06 |
| Market Cap (₹ Cr.) | 101.98 |
| ROE | 176.59% |
| ROCE | 97.37% |
| Debt/Equity | 1.59 |
| EPS (Rs) | 7.06 |
| RoNW | 67.77% |
Objects of the Issue (Kody Technolab IPO Objectives)
The Net Proceeds from the Fresh Issue will be utilized towards the following objects:
- Funding Capital Expenditure toward setting up a development center at Gift City, Gandhinagar.
- Funding incremental Working Capital Requirement of the company.
- Repayment/ prepayment of certain borrowings availed by the company.
- General Corporate Purpose.
- To Meet the Issue Expenses.
Kody Technolab IPO Review (Avoid)
[Dilip Davda] The company operates in a highly competitive and fragmented segment. Bumper performance for FY23 raises eyebrows and concerns over sustainability. Based on its super earnings for FY23, the issue appears greedily priced. There is no harm in skipping it.
Kody Technolab IPO Subscription Status (Bidding Detail)
The Kody Technolab IPO is subscribed 8.51 times on Sep 18, 2023 7:29:00 PM. The public issue subscribed 14.08 times in the retail category, times in the QIB category, and 2.89 times in the NII category.
| Category | Subscription (times) |
|---|---|
| Other | 2.89 |
| Retail | 14.08 |
| Total | 8.51 |
Total Application : 14,376 (14.08 times)
Kody Technolab IPO Contact Details
Kody Technolab Limited
2nd Floor, Block-J, Safal Monde Near Iscon Mall,
Near Rajpathclub, S.G Highway,
Bodakdev, Ahmedabad – 380054
Phone: +91-9377229944
Email: info@kodytechnolab.com
Website: https://kodytechnolab.com/
Kody Technolab IPO Registrar
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: kody.ipo@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/