IPO Details
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Schedule of Ivalue Infosolutions Ltd IPO
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About iValue InfoSolutions Limited IPO
iValue InfoSolutions Limited IPO is an IPO of up to 18,739,000 equity shares. It consists of an offer for sale of up to 18,739,000 equity shares. The shares will be allotted on TBA. The credit of shares to the demat account will take place on TBA and the initiation of refunds will take place on TBA.
Objective of iValue InfoSolutions Limited IPO
- Utilisation of the offer proceeds.
- Offer expenses.
- Monitoring utilisation of funds.
- Other confirmations.
iValue InfoSolutions Limited IPO Valuation
| Detail | Information |
|---|---|
Upper Price Band (₹) | TBA |
Existing Shares to be Sold | Up to 18,739,000 Equity Shares |
Fresh Issue | NA |
EPS (₹) For the year ended March 31, 2024 | 13.27 |
iValue InfoSolutions Limited IPO Share offer and Subscription Details
| Investor Category | Shares Offered |
|---|---|
QIBs Share Offered | Not more than 50% of the Issue |
Non-Institutional Bidders (NIBs) | Not less than 15% of the Issue |
Retail Individual Bidders | Not less than 35% of the Issue |
Industry Outlook
Digital transformation projects across the industries will continue to accelerate, as businesses focus on agility and innovation to adapt to changing market dynamics.
IT spending in India is anticipated to grow at a comparatively stronger CAGR than previous years, growing at a CAGR of 9.5% from 2023 to 2027, recording over USD 31,700 crores by 2027. This is primarily supported by the government initiatives and the presence of large tech giants, leading to rising investments in this sector. The government initiatives may attract more foreign investments, encourage local entrepreneurship and foster innovation in various IT segments.
India is poised to lead the information technology investment in the region. The increasing expenditure on information technology products and services is a tangible indicator of this phenomenon and it is transforming India's path towards becoming a digital powerhouse.
The total addressable market (TAM) for cybersecurity, information lifecycle management, data centre infrastructure, application lifecycle management and professional and managed services is experiencing a robust growth globally and in India. Globally, the total TAM for these markets is anticipated to grow from approximately USD 1,07,800 crores in 2024 to USD 2,71,900 crores by 2029, with a CAGR of 20.3% during this period.
Company Information
iValue InfoSolutions Limited is an enterprise technology solutions specialist based out of India, offering comprehensive, purpose-built solutions for securing and managing digital applications and data.
Positioned as a vital link in the technology solutions ecosystem, they enable OEMs (who research, develop and produce technology solution goods and services) to reach their target customers (primarily comprising enterprises) by partnering with System Integrators (who engage with such customers for solving their technology integration requirements). To this end, they typically work with System Integrators to understand enterprise
customers’ business and technical requirements, curate customised solutions (including multi-OEM stacks, where solutions from multiple OEMs interact with each other), and assist in procurement and deployment of the required technology solutions by partnering with OEMs, across cybersecurity, information lifecycle management, data centre infrastructure, application lifecycle management, hybrid cloud solutions and other domains.
iValue InfoSolutions Limited IPO Strengths
Uniquely positioned in the large and fast-growing technology solutions and associated services market in India and other neighbouring economies.
Along with the three primary offerings, namely cybersecurity, information lifecycle management and data centre infrastructure, the company has also ventured into newer categories such as application lifecycle management, hybrid cloud management and hyper-converged infrastructure.
The company is well-positioned to capitalize on the Indian enterprise technology solutions market growth, considering their role in the valuechain, their proven ability to understand the technical and business requirements of their end customers, and their expertise in curating, deploying, and maintaining customized, purpose-built solutions to meet those requirements, working along with leading System Integrators and OEMs.
Comprehensive multi-OEM solutions and services portfolio, making them the preferred strategic technology advisor for enterprise technology requirements.
Their evolution from a pure-play distributor to a value-added distributor (VAD), and ultimately establishing themselves as a strong technology enabler, has positioned them uniquely in the market, allowing them to address complex IT demand holistically through a broad range of offerings and strong partnership ecosystem.
To this end, they have strategic partnerships and contractual agreements with leading OEMs across cybersecurity, information lifecycle management, and data centre infrastructure domains for distribution of their products, including Check Point, Forcepoint, Imperva, Splunk, Tenable, Yubico and Arista. Additionally, in line with their focus on expanding their ALM and cloud offerings, we have also recently partnered with OEMs such as Nutanix, Splunk, Google Cloud and SuSe.
Partner of choice for OEMs in India, with strong and expanding OEM relationships across focus areas.
Leveraging their ability to design and deliver customised purpose-built solutions and associated services, they enable OEMs to reach their target customers (primarily comprising enterprises), typically through System Integrators. Their network of OEM partners has grown from 84 as of March 31, 2022 to 93 as of March 31, 2023, and subsequently to 101 as of March 31, 2024. As of March 31, 2024, out of their 101 OEM partners, 18 were associated with them for more than 10 years, 33 were associated with them for six or more years, and 73 were associated with them for three or more years. In fiscals 2022, 2023 and 2024, they enabled 3,841, 4,410 and 4,758 transactions respectively, for their OEM partners.
Risks of iValue InfoSolutions Limited IPO
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They are dependent on OEMs, which are global technology brands, for their offerings. In fiscal 2024, they derived a significant part of their gross sales billed to the customers from providing technology solutions and services for their top 10 OEMs, accounting to 65.43% of their total gross sales billed to the customers. Any delay or failure on the part of such OEMs for providing such products, their failure to maintain their relationships with OEMs, or any material changes in the pricing, volume or other terms of existing agreements with such OEMs could materially and adversely affect their business, profitability and reputation.
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The company is exposed to credit risk and may be exposed to delays and/or defaults in payments by such SIs. Any failure or delay in collecting such receivables could adversely affect their cash flows and financial results.
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They don’t have long term commitments and enter into non-exclusive agreements with OEMs and SIs. Some of their agreements may have restrictive covenants and can be terminated without any cause. Any early termination or non-renewal of such agreements may adversely affect their business, results of operations and financial condition.
All Financial Information about Ivalue Infosolutions Ltd
Particulars (in Rs. crores)
Particulars (in Rs. Crores)
Comparison with peers
| Parameter | Ivalue Infosolutions Limited | Exclusive Networks SA |
|---|---|---|
Total Income for the year ended March 31, 2024 (₹ in crores) | ₹795.180 | ₹14388.079 |
P/E | - | 49.3x |
EPS (Basic)(₹) | ₹13.27 | ₹43.90 |
Return on Net Worth (%) | 22.02% | 4.50% |
NAV per share (₹) | ₹60.26 | ₹979.19 |
Anchor Investor Information
The Anchor Investor Bid/Offer Period shall be one Working Day prior to the Bid/Offer Opening Date.
IPO Registrar and Book Running Lead Managers
Book running lead managers:
IIFL Securities Limited Motilal Oswal Investment Advisors Limited
Registrar for the IPO is KFin Technologies Limited
Business Model
The company earns its revenue through the following sources:
- Primarily serve large enterprises in their digital transformation journey by understanding their needs and working with System Integrators and OEMs to identify, recommend and deploy solutions meeting their requirements, aimed at ensuring performance, availability, scalability and security of digital applications and data.
Company Growth Trajectory
In fiscals 2022, 2023 and 2024, they enabled 3,841, 4,410 and 4,758 transactions respectively, with average transaction size of ₹0.34 crores, ₹0.41 crores, and ₹0.44 crores, respectively. Their network of OEM partners has grown from 84 as of March 31, 2022 to 93 as of March 31, 2023, and subsequently to 101 as of March 31, 2024. In the same period, the number of system integrators they had transactions with grew from 528 in fiscal 2022 to 567 for fiscal 2023, and subsequently to 648 for fiscal 2024, and their number of enterprise customers served grew from 1,619 in fiscal 2022 to 1,804 for fiscal 2023, and subsequently to 2,014 for fiscal 2024.
Company Market Position
As per F&S, iValue InfoSolutions Limited is one of the fastest growing technology services and solutions integrator in India.
They have offices across eight locations in India, including their Registered and Corporate Office in Bangalore, India. Additionally, they are also present in six international locations, namely Singapore, Bangladesh, Sri Lanka, UAE, Cambodia and Kenya. Through their team in Bangladesh, which is headquartered in Singapore, they also cater to Bhutan and Nepal markets. The company has been able to leverage their India business to also expand into the above geographies, with a network of 53OEMs, who distribute their products and offerings through them in identified geographies, as of March 31, 2024. During fiscal 2024, they leveraged their network of 116 system integrators, to serve 207 enterprise customers in these geographies.
iValue InfoSolutions Limited Company Profit & Loss
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Revenue from operations (₹ crores) | 501.064 | 796.825 | 780.230 |
Total Income | 795.180 | 805.787 | 509.236 |
Profit Before Tax (₹ crores) | 52.892 | 80.309 | 94.568 |
Net profit / (loss) (₹ crores) | 37.233 | 59.917 | 70.570 |
EBITDA (₹ crores) | 62.938 | 88.821 | 111.061 |
EPS (₹) | 10.44 | 11.20 | 13.27 |
Cash Flow Statement:
| Parameter | FY22 | FY23 | FY24 |
|---|---|---|---|
Profit before tax (₹crores) | 52.892 | 80.309 | 94.568 |
Net Cash from Operating Activities (₹ crores) | 33.201 | (22.688) | 65.651 |
Net Cash from Investing Activities (₹ crores) | (23.929) | 29.992 | 23.674 |
Net Cash from Financing Activities (₹ crores) | (28.683) | 21.894 | (21.881) |
Cash and Cash Equivalents (₹ crores) | 31.336 | 60.534 | 127.978 |
How To Check Allotment Status of iValue InfoSolutions Limited IPO?
You can check the allotment status of shares either on the website of the Bombay Stock Exchange (BSE) or on the website of the registrar KFin Technologies Limited. To check the status on the BSE website:
- Visit the BSE website
- Click on “Investor Services” and choose “Application Status Check”
- Choose the issue type — Equity or Debt (Equity in this case)
- Select the Issue Name from the drop-down. The issue name is the company’s name, which is iValue InfoSolutions Limited
- Enter your application number or PAN number
- Check the box which says “I’m not a Robot” and click on “Search” to know the allotment status
Follow these steps to know the allotment status on the registrar’s website:
- Visit the KFin Technologies Limited website
- Choose “Public Issues” from the “Investor Services” drop-down
- Select iValue InfoSolutions Limited from the drop-down
- Enter your PAN number or Application number
- Click on “Submit” to know the allotment status
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.
Ivalue Infosolutions Ltd IPO FAQs
What is the iValue InfoSolutions Limited IPO?
The iValue InfoSolutions Limited IPO has an issue size of up to 18,739,000 equity shares. The IPO opens for subscription on TBA and closes on TBA.
Who is the Registrar for iValue InfoSolutions Limited IPO?
KFin Technologies Limited is the registrar for this IPO.
Where can I read more about iValue InfoSolutions Limited business?
You may read more about iValue InfoSolutions Limited and its IPO from the company’s draft red herring prospectus (DRHP) here:
