Ivalue Infosolutions IPO: Check GMP, subscription status. Should you apply or not?

Ivalue Infosolutions IPO: The initial public offer (IPO) of Ivalue Infosolutions opened on September 18 and will close for subscription on September 22.

The ₹560.29 crore IPO, had fixed a price band in the range of ₹284-299 apiece.

As of the end of Day 1, Ivalue Infosolutions IPO was booked 0.28 times, as the issue received bids for 37.36 lakh shares as against 1.31 crore shares on offer.

The retail portion of the IPO was booked 0.46 times, the non-institutional investor (NII) part was subscribed 0.23 times, while the bidding for the qualified institutional buyer (QIB) segment was not booked at all.

Ivalue Infosolutions IPO is seeing a decent premium in the grey market. The IPO’s GMP stands at ₹15, indicating that shares are trading slightly above the issue price. Based on the current premium, the stock could list at around ₹314, which is 5.05 percent higher than the upper end of the price band fixed at ₹299.

Ivalue Infosolutions IPO is a pure offer for sale (OFS) of 1.87 crore shares worth ₹560.29 crore, with no fresh issue component. Retail investors can bid in lots of 50 shares, requiring a minimum investment of ₹14,950 at the upper end of the price band. Promoters Sunil Kumar Pillai, Krishna Raj Sharma, Srinivasan Sriram, and Hilda Sunil Pillai, along with investor Sundara (Mauritius) Ltd, are offloading their stakes. Since the issue is entirely an OFS, the company itself will not receive any proceeds.

The IPO allotment is expected to be finalised on September 23, with listing scheduled for September 25 on both NSE and BSE. IIFL Capital Services Ltd is acting as the book running lead manager, while Kfin Technologies Ltd is the registrar to the issue.

The objective of the offer is to gain the benefits of listing on the stock exchanges and facilitate the sale of up to 1,87,38,958 equity shares with a face value of ₹2 each by the selling shareholders. The company expects that the listing will enhance its visibility and brand image while also creating a public market for its equity shares in India.

Incorporated in 2008, Ivalue Infosolutions Limited is a technology services and solutions provider focused on enterprise digital transformation, with operations across India, the SAARC region, and Southeast Asia. The company works with 109 global technology partners and more than 800 system integrators, offering solutions in cybersecurity, cloud, data management, and AI. Its ecosystem includes marquee names such as Google Cloud, Splunk, Nutanix, and Check Point.

At the upper price band, the IPO is priced at a P/E multiple of 18.8x on FY25 earnings. Analysts at SBI Securities have recommended subscribing to the issue, highlighting the company’s strong OEM partnerships, ecosystem stickiness, and its positioning in high-growth IT spending categories. That said, with the grey market premium (GMP) hovering around 5 percent, investors may need to temper expectations of near-term listing gains.

“It is a value-added solutions aggregator that is expected to play a structural role in India’s enterprise IT landscape. Its business model benefits from ecosystem stickiness, strong OEM partnerships, and alignment with high-growth IT spending categories,” SBI Securities said.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

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