Bengaluru: Canarys Automations Limited was listed on the National Stock Exchange (NSE) SME platform on Wednesday.
Canarys was listed with the opening bell ringing ceremony on NSE Emerge platform, presided over by Sheshadri Srinivas, CEO and Raman Subbarao, MD, and Board of Directors from Canarys.
The issue was open for subscription from September 27 to October 3. Despite adverse market conditions, the issue was successfully subscribed 9.84 times overall. The public issue subscribed 11.70 times in the retail category, 2.73 times in the QIB category, and 18.07 times in the NII category.
Speaking on the occasion Srinivas said, “What a remarkable journey it has been, from the announcement in August 2022 to the listing ceremony in October 2023. I am deeply grateful for the incredible effort I’ve witnessed from every member of the Canarys Automation Solutions team.”
“Today is a momentous and historic day for Canarys Automation Solutions, made possible by our commitment, dedication, and unwavering adherence to our core values. As we take our journey forward, let’s remember that it is these four pillars that have led us to where we are today,” he added.
NSE Vice President Gowri Shankar said the Canrays Automation Solutions Ltd ‘s successful IPO, oversubscribed nearly 10 times, is a testament to the strong investor confidence in their vision and potential.
“This listing not only marks a significant milestone for Canrays, but also underscores their commitment to accountability and responsibility towards their investors,” he said.
India’s position as the fourth largest market in the world by market capitalization is a testament to its growth potential, and the NSE has played a pivotal role in this journey since its inception in 1994, Shankar said.
With over 80 times growth in market capitalization, India’s financial landscape has witnessed remarkable progress, he stated.
“Canarys Automation Solutions Ltd’s listing on NSE Emerge aligns with this upward trajectory, and we are hopeful that they will follow the path of many other successful companies that have migrated to the main platform,” Shankar said.
Canarys is a Solutions Company, headquartered in Bengaluru, with its two subsidiaries one in New Jersey and another in Singapore.
With a rich history spanning over three decades in the industry, the company takes immense pride in its journey as a leading comprehensive solution provider, specializing in Digitalization, Modernization, Cloudification, Automation, Intelligence and Water Resource Management Solutions.
Canarys embarked on a services-to-solutions transformation journey three years ago, under the leadership of Srinivas, and witnessed tremendous growth and expansion since its inception in 1991.
Canarys rejoice in its profound understanding of diverse technologies and industry trends, enabling it to serve a wide range of sectors including BFSI, Retail, Insurance, Manufacturing, Pharma and Healthcare.
