Monumental Milestone-Esconet gets approval for IPO

We are thrilled to share a monumental milestone in the journey of Esconet Technologies Limited. In a significant step towards our continued growth and innovation, we have filed our Draft Red Herring Prospectus (DRHP) with the National Stock Exchange (NSE) to initiate our Initial Public Offering (IPO) on the NSE Emerge platform. We have received the in-principle approval of proposed IPO on 09th February 2024. This milestone marks the beginning of a new chapter in our journey, underscoring our commitment to not just sustain but also accelerate our growth trajectory.

The IPO consists of a fresh issue of 33,60,000 equity shares, each at a face value of ₹10. This strategic move is designed to further strengthen our foundation and fuel our growth initiatives, enabling us to expand our offerings in IT infrastructure solutions and our proprietary range of servers and storage hardware under the HexaData brand.

Corporate Capital Ventures is leading the charge as the book running lead manager for this issue, with Skyline Financial Services appointed as the registrar, ensuring a seamless process for our prospective investors. Our decision to list on NSE Emerge, a platform dedicated to empowering SMEs like us, is a testament to our vision of achieving excellence and innovation in everything we do.

This IPO is not just a financial milestone; it's a reflection of our hard work, dedication, and the trust you, our partners, clients, and stakeholders, have placed in us. It represents an opportunity for us to enhance our capabilities, reach new markets, and deliver even greater value to you.

We are deeply grateful for your unwavering support and belief in our mission. As we embark on this exciting journey, we look forward to sharing this growth with you and continuing to deliver the innovative solutions and exceptional service you've come to expect from us.

Stay tuned for more updates as we move forward in this process. Your support means the world to us, and we are eager to embark on this new chapter together.

Disclaimer: It is to be distinctly understood that the permission given by NSE should not in any way be deemed or construed that the Offer Document has been cleared or approved by NSE nor does it certify the correctness or completeness of any of the contents of the Offer Document. The investors are advised to refer to the Offer Document for the full text of the 'Disclaimer Clause of NSE