IPO Details
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Schedule of EverestIMS Technologies IPO
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End date
Allotment of bids
Refund Initiation
Listing on exchange
About EverestIMS Technologies Ltd IPO
The IPO of EverestIMS Technologies Ltd comprises a fresh issue and an offer for sale. The fresh offer is up to 55,32,000 equity shares of face value of ₹10 each. The offer for sale is up to 4,74,000 equity shares of face value of ₹10 each. It’s a 100% book-built offer.
Objectives of EverestIMS Technologies Ltd IPO
- Investment in new capabilities
- Purchase of IT hardware and subscription of cloud services
- Funding of working capital requirement
- General corporate purposes
EverestIMS Technologies Ltd IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band | TBA |
Fresh Issue | Up to 55,32,000 equity shares |
Offer for Sale | Up to 4,74,000 equity shares |
EPS in ₹ for FY 24 | 6.55 |
EverestIMS Technologies Ltd IPO Share Offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs | Not more than 50% of the offer |
Non-institutional Bidders | Not less than 15% of the offer |
Retail Individual Bidders | Not less than 35% of the offer |
Industry Outlook
In terms of value, the IT operations and service management market in India was valued at US$ 1011.55 million in 2023 and is projected to reach US$ 2665.58 million by 2031. It’s expected to register a CAGR of 12.9% from 2023 to 2031. The IT Operations and Service Management (ITOSM) market in India is experiencing growth owing to a rapidly expanding digital landscape and an increasing focus on technological advancements.
Company Information
EverestIMS Technologies Ltd is a software company that provides both Software as a Service (SaaS) and on-premise products and services. It specialises in digital transformation, IT Operation and Service Management incorporating AI enabled product solutions where applicable to help businesses streamline their IT operations, improve efficiency, and enhance user experiences.
EverestIMS Technologies Ltd Strengths
Fully Integrated Platform
The company’s fully integrated ‘Infraon Infinity’ platform provides a variety of modules and AI-powered features for both on-premises and SaaS customers. Typically for different IT service and operation management needs by the customers they would require multiple tools to fulfil their needs, whereas its unified platform fulfils all the requirements with its single platform. This makes it easier for the customer to maintain, boosts their efficiency, and ensures smooth support for them.
Cordial Relationship with Channel Partners
As a channel partner-focused company, EverestIMS empowers its partners with comprehensive support and provides free training to ensure they fully understand its products and services, enabling them to offer the right solution to their customers. Additionally, it assists partners in increasing their revenue by training them to deliver professional services to the customers.
Diversified Platform Development and Market Expansion
EverestIMS has developed its platform with a comprehensive range of offerings in ITIM, AIOPS, ITSM, ITAM, and OSS space. This has enabled it to expand its product and service portfolio, providing both SaaS and on-premises solutions to a diverse range of customers, including large enterprises, telecom operators, and small to medium-sized businesses (SMBs).
Risks of EverestIMS Technologies Ltd IPO
- Failure to Adapt to Technological Advancements
The company’s business may be adversely affected if it fails to adapt to rapid technological changes and evolving industry standards, or if it’s unable to successfully enhance its existing products and services or develop new offerings.
- Lack of Formal Agreements with Channel Partners
EverestIMS has not entered into formal agreements with some channel partners for joint sales strategies, which could have a material adverse effect on its business, financial condition, and results of operations.
Negative Cash Flows:
The company has had negative cash flows in the past. Sustained negative cash flow could adversely impact their business, financial condition, and results of operations.
All Financial Information about EverestIMS Technologies
Particulars (in Rs. crores)
Particulars (in Rs. crores)
Comparison with peers
| Company | EPS in ₹ | P/E | Return on Net Worth (in %) | NAV per Share (in ₹) |
|---|---|---|---|---|
EverestIMS Technologies Ltd | 2.50 | NA | 11.01 | 21.95 |
Newgen Software Technologies Ltd | 8.43 | 186.92 | 9.08 | 92.82 |
Anchor Investor Bidding Date TBA
IPO Registrar and Book Running Lead Manager
- Registrar: Maashitla Securities Pvt Ltd
- Book Running Lead Manager: Oneview Corporate Advisors Pvt Ltd
Business Model
EverestIMS Technologies Ltd offer comprehensive solutions that enable businesses to remotely monitor critical network devices, servers, applications, and more to reduce downtime, improve service delivery, and streamline IT operations through its flagship platform 'Infraon Infinity'. Its products and services offered under the brand name Infraon are as follows:
- Information Technology Service Management (ITSM)
- IT Infrastructure Management (ITIM)
- Network Configuration and Content Management (NCCM)
- AI for IT Operations (AIOPS)
- IT Asset Management (ITAM)
- Operation Support System (OSS)
Company Growth Trajectory
The company’s total income jumped from ₹23.1301 crores in FY 22 to ₹45.6166 crores in FY 24. Its EBITDA margin grew from 28.68% in FY 22 to 38.23% in FY 24, while PAT margin recorded a growth from 18.70% in FY 22 to 23.66% in FY 24. The experienced core team along with diversified platform development has contributed to the company’s growth over the years. Along with serving Indian customers, the company also serves customers in countries like the UAE, Malaysia and Kenya.
Market Position
EverestIMS Technologies Ltd has its registered office in Bengaluru, Karnataka, with offices in Delhi and Mumbai. It engages in direct sales through both its company and its subsidiary, Infraon Corp, located in the USA. In addition, it also engages with domestic and international channel partners and sales agents who identify potential customers, work jointly with it to qualify and close deals, and serve as the primary intermediaries for managing customer relationships.
EverestIMS Technologies Ltd Profit and Loss
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Total Income (in ₹ crores) | 45.6166 | 34.4582 | 23.1301 |
Profit Before Tax (in ₹ crores) | 14.8440 | 7.4596 | 5.6209 |
Profit After Tax (in ₹ crores) | 10.7935 | 5.5032 | 4.3260 |
EPS in ₹ | 6.55 | 3.34 | 2.67 |
EBITDA | 17.4392 | 9.2599 | 6.6348 |
EverestIMS Technologies Ltd Balance Sheet
| Parameter | FY 24 | FY 23 | FY 22 |
|---|---|---|---|
Profit Before Tax (in ₹ crores) | 14.8440 | 7.4596 | 5.6209 |
Net Cash Flow from/ (used in) Operating Activities (in ₹ crores) | 5.3495 | 3.6581 | 1.2384 |
Net Cash Flow from/ (used in) Investing Activities (in ₹ crores) | (6.5568) | (6.9814) | (1.6340) |
Net Cash Flow from/ (used in) Financing Activities (in ₹ crores) | (0.2807) | (0.007) | 0.3593 |
Cash & Cash Equivalents as At End of the Year (in ₹ crores) | 2.1876 | 3.6756 | 7.0059 |
How to Check Allotment Status of EverestIMS Technologies Ltd IPO?
1. Visit the Registrar’s Website
- Visit the official website of Maashitla Securities Pvt Ltd
- Choose ‘Public Issues’ from ‘Allotment Status’ dropdown
- Select the ‘Name of the Company’
- Enter either your PAN, Application Number or Demat Account Number
- Click on ‘Submit’ to know the status
2. Check on Bombay Stock Exchange Website
The Bombay Stock Exchange (BSE) also has an IPO allotment status page. Go to www.bseindia.com and find the 'Investor Services' tab. Under 'Investors Services', click on 'Status of Issue Application'. This will take you to the IPO allotment status page. On the BSE IPO page, follow these steps:
- Choose the Issue Type
- Select the Issue Name from dropdown
- Put in either your application number or PAN number
- Check the box ‘I’m not a robot’
- Click on ‘Search’ to know allotment status
How to Apply for EverestIMS Technologies Ltd IPO?
- Log in to your Kotak Securities Demat account - Log in to your Demat account to access IPO investments. Next, select the current IPO section.
- Specify IPO details - Enter the number of lots and the price you wish to apply for.
- Enter UPI ID - After entering your UPI ID, click submit. This will place your bid with the exchange.
- Mandate Notification - Your UPI app will receive a mandate notification to block funds.
- Approve Request - Your funds will be blocked once you approve the mandate request on your UPI.
This article is for informational purposes only and does not constitute financial advice. It is not produced by the desk of the Kotak Securities Research Team, nor is it a report published by the Kotak Securities Research Team. The information presented is compiled from several secondary sources available on the internet and may change over time. Investors should conduct their research and consult with financial professionals before making any investment decisions. Read the full disclaimer here.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing. Please read the SEBI-prescribed Combined Risk Disclosure Document before investing. Brokerage will not exceed SEBI’s prescribed limit.
EverestIMS Technologies IPO FAQs
Where can I read more about EverestIMS Technologies business?
You can read more about EverestIMS Technologies and its IPO from the company’s red herring prospectus (RHP) here.
What is the EverestIMS Technologies Ltd IPO?
The IPO of EverestIMS Technologies Ltd comprises a fresh issue and an offer for sale. The fresh issue is up to 55,32,000 equity shares, while the offer for sale is up to 4,74,000 equity shares.
When will the IPO of EverestIMS Technologies Ltd go live?
The exact dates of the IPO are yet to be announced.
Who is the chairman of EverestIMS Technologies Ltd?
Sudhakar Aruchamy is the chairman of EverestIMS Technologies Ltd.
From where can I read more about the IPO of EverestIMS Technologies Ltd?
You can read more about the IPO of EverestIMS Technologies Ltd from the company’s draft red herring prospectus here.
