The Initial Public Offering(IPO) for the week is –
Ekennis Software Services-
Ekennis Software Services is involved in the business of software IT solutions and consulting services, IT product/software development and software training, enterprise resource planning solution, digital printing, 3D printing, learning management solutions, and packaging design management consultancy. It offers its services to many business sectors.
The company develops solutions around ERP systems and provides business process analysis and system design, technical expertise, and training support services. The areas where the company operates are discrete manufacturing, automotive, food processing, chemicals, and telecom sectors. It has a team of professionals who have the capability to support service and provide consultation to customers.
The IT business of the company is further divided into-
- Learning management solutions (LMS).
- IT solutions.
- IT consulting.
The promoter of the company is Ms. Manisha Sharma. The company will utilize the proceeds from the public issue for-
- Funding the purchase of plant and machinery.
- Funding the working capital requirements.
- General corporate purposes.
The company expects to receive the benefits of listing on the BSE SME as that would enhance the visibility and the brand image of the company.
The total revenue of the company was Rs. 4.85 crores with a net profit of Rs 22.60 lakh(Year ended 31 March 2020), a revenue of Rs. 4.65 crore with a net profit of Rs. 94.92lakh(Year ended 31 March 20201).