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iValue Infosolutions IPO
Ivalue Infosolutions Ltd
₹14,200 /50 sharesMinimum Investment
iValue Infosolutions IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 18 Sep ‘25 - 22 Sep ‘25 | ₹14,200 | 50 | ₹284 - ₹299 |
| Issue Size | IPO Doc |
|---|---|
| 560.29Cr | RHP PDF |
Subscription rate
As of 18 Sep'25, 06:01 PM
| Qualified Institutional Buyers | 0.00x |
| Non-Institutional Investor | 0.23x |
| Retail Individual Investor | 0.45x |
| Total | 0.28x |
About iValue Infosolutions
Founded in
2008
Managing director
Mr Sunil Kumar Pillai
Parent organisation
Ivalue Infosolutions Ltd
Strengths & Financials of iValue Infosolutions
Strengths
Risks
iValue Infosolutions is involved in the enterprise technology solutions sector, with a focus on cybersecurity, information lifecycle management, data centre infrastructure, application lifecycle management, and hybrid cloud solutions. According to F&S, the total addressable market for these areas in India is expected to grow at a compound annual growth rate (CAGR) of 23.1 percent between 2024 and 2030, increasing from $22.7 billion to $78.9 billion. The company claims to be well-positioned to capitalise on this growth, given its role in the value chain, its experience in addressing enterprise requirements, and its expertise in deploying multi-OEM customised solutions.
iValue Infosolutions claims to have developed a wide-ranging solutions and services portfolio over 16 years, covering cybersecurity, information lifecycle management, data centre infrastructure, application lifecycle management, and hybrid cloud solutions. The company has strategic partnerships with leading OEMs, such as Check Point, Forcepoint, Splunk, Tenable, Google Cloud, and Nutanix, and has curated more than 30 pre-integrated multi-OEM stacks tailored to enterprise needs across industries like BFSI, manufacturing, and e-commerce. As of FY25, it had serviced 2,877 enterprise customers through 804 system integrators, supported by a technology team of 215 certified professionals.
The company claims that its OEM network has expanded from 93 partners in FY23 to 101 in FY24 and further to 109 in FY25, with 19 of them associated for more than 10 years. The company added nine new OEMs in FY23 and eight in FY25, including marquee names such as Splunk, Nutanix, and Google Cloud. In FY25, transactions facilitated through OEM partnerships stood at 5,915 with an average transaction size of Rs 0.41 crore.
iValue Infosolutions claims to have a large and expanding network of system integrators, which grew from 567 in FY23 to 648 in FY24 and further to 804 in FY25. Of these, 287 partners were associated with the company for each of the last three years. The network included 37 global (including regional), 97 national, and 670 local partners in FY25. Notable partners are Hitachi, Sify Digital Services, Quess Corp, ACPL, SNS, Wysetek, and Value Point.
The company has received credit ratings of (ICRA)A (Stable) for its long-term/short-term fund-based facilities and (ICRA)A2+ for its short-term fund-based facilities by ICRA Limited.
The company has witnessed a consistent increase in profit after tax (PAT). It increased from Rs 59.92 crore in FY23 to Rs 70.57 crore in FY24 and Rs 85.30 crore in FY25.
The top five OEMs accounted for Rs 1,119.98 crore (45.91 percent) of the company’s gross sales billed to customers in FY25, Rs 1,061.68 crore (50.30 percent) in FY24, and Rs 1,021.36 crore (56.41 percent) in FY23. Furthermore, the top OEM alone accounted for Rs 407.82 crore (16.72 percent) of the company’s gross sales billed to customers in FY25, Rs 543.26 crore (25.74 percent) in FY24, and Rs 550.93 crore (30.43 percent) in FY23. Any adverse development, such as failure of OEMs to provide products, deterioration of relationships, unfavourable changes in pricing or contract terms, or OEMs choosing to distribute directly, could materially impact the company’s revenues and profitability.
The top five SIs accounted for Rs 610.27 crore (25.02 percent) of the company’s gross sales billed to the customers in FY25, Rs 574.54 crore (27.22 percent) in FY24, and Rs 348.43 crore (19.24 percent) in FY23. Any inability to maintain these relationships, loss of business, or reduction in volumes from such SIs could adversely impact the company’s financial condition and results of operations. Since the company does not have long-term exclusive agreements with most of its SIs, the volume of work and nature of engagements may vary from year to year.
The company is exposed to counterparty credit risk on account of extending credit to its SIs and customers. As of FY25, the company recorded trade receivables of Rs 846.38 crore, an increase from Rs 673.21 crore in FY24. It also recorded bad debts written off of Rs 8.40 crore in FY25 and Rs 6.04 crore in FY24. Any significant delays in payment or defaults by SIs or customers could adversely impact the company’s cash flows, financial condition, and results of operations.
The company’s employee attrition rate has consistently increased from 27.39 percent in FY23 to 32.67 percent in FY24 and 34.06 percent in FY25. High attrition or the inability to recruit skilled professionals could hurt the company’s operating efficiency and productivity.
The company recorded negative cash flow from operating activities amounting to Rs 22.69 crore in FY23. Additionally, negative cash flow from investing activities amounted to Rs 35.86 crore in FY25. The company reported negative cash flow from financing activities amounting to Rs 20.48 crore in FY25 and Rs 21.88 crore in FY24. Furthermore, the company recorded a net decrease in cash and cash equivalents amounting to Rs 10.12 crore in FY25. If cash outflows continue to exceed inflows in the future, the company may face liquidity challenges.
The company’s business is largely concentrated in India, where it has offices across eight locations. India accounted for 87.54 percent of the company’s gross sales billed to the customers in FY25, 89.26 percent in FY24, and 88.40 percent in FY23. Any adverse social, political, or economic developments in India, including reduced information technology (IT) spending, regulatory changes, or natural calamities, could materially impact the company’s operations.
The company’s operations significantly depend on sourcing products from OEMs located outside India. Gross sales billed to the customers from purchases made through such OEMs outside India accounted for Rs 1,615.39 crore (66.22 percent) of the company’s gross sales billed to the customers in FY25, Rs 1,216.38 crore (57.64 percent) in FY24, and Rs 935.05 crore (51.64 percent) in FY23. Any disruption in sourcing could materially impact the company’s operations. The company is also exposed to risks from changes in government policies, import duties, and regulations that could restrict the inflow of IT products into India.
The company is exposed to risks arising from foreign exchange rate fluctuations. Expenditure in foreign currencies accounted for Rs 1,230.37 crore (58.67 percent) of the company’s consolidated expenditure in FY25, Rs 1,065.32 crore (59.18 percent) in FY24, and Rs 860.77 crore (48.57 percent) in FY23. Any significant appreciation of the Indian rupee against export currencies or depreciation against import currencies could adversely impact the company’s competitiveness and margins.
As of FY25, the company had contingent liabilities amounting to Rs 10.68 crore. If any of these contingent liabilities materialise, it could adversely affect the company’s financial condition.
The company is involved in certain ongoing legal proceedings, including criminal and tax-related cases. Any adverse judgments in any of these cases could be detrimental to the company’s business prospects.
As of FY25, the company had financial indebtedness of Rs 42.45 crore. Any failure to service or repay these loans can hurt the company’s operations and financial position.
iValue Infosolutions Financials
*All values are in Rs. Cr
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Application Details of iValue Infosolutions IPO
| Apply as | Price band | Apply upto |
|---|---|---|
| Regular | ₹284 - 299 | ₹2 Lakh |
| High Networth Individual | ₹284 - 299 | ₹2 - 5 Lakh |
For iValue Infosolutions IPO, eligible investors can apply as Regular.