EverestIMS Technologies IPO

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

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.

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.

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.

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.