IPO-bound iValue Infosolutions' revenue down over 2 pc, shows DRHP

Mumbai, Sep 14 (IANS) Bengaluru-based iValue Infosolutions, a technology solutions integrator backed by private equity firm Creador, which set to launch its initial public offering (IPO), has reported a 2.08 per cent decline in its revenue from operations in FY24.

The draft red herring prospectus (DRHP) data shows that the company’s revenue from operations for the year ended March 31, stood at Rs 780.2 crore, down from Rs 796.8 crore in the previous financial year (FY23).

Total income also slipped to Rs 795.1 crore from Rs 805.7 crore a year earlier, as per the DRHP.

Expenses, however, declined to Rs 700.6 crore from Rs 725.4 crore, helping the company’s net profit rise to Rs 70.5 crore in FY24 compared to Rs 59.9 crore in FY23.

The IPO, which scheduled to open on September 18, worth Rs 2,439 crore, will be a complete offer-for-sale (OFS) of 1.87 crore shares, according to DRHP.

The issue will close on September 22, and the company plans to list its shares on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).

iValue Infosolutions provides technology solutions to large enterprises, focusing on areas such as cybersecurity, cloud services, and digital infrastructure.

The IPO is being managed by IIFL Capital Services Limited as the book running lead manager, while Kfin Technologies Limited is the registrar of the issue.

Founded in 2008 by Shrikant Shitole and headquartered in Bengaluru, the company has built its space as a strategic technology advisor for large enterprises.

It offers customised solutions in areas such as cybersecurity, data management, application lifecycle management (ALM), and data centre infrastructure, working in close partnership with more than 70 Original Equipment Manufacturers (OEMs).

The company operates as a value-added distributor and technology enabler, primarily collaborating with system integrators to deliver advanced technology solutions to end-users.

Over the years, iValue has expanded its presence beyond India into the SAARC region, particularly Bangladesh and Sri Lanka, and into Southeast Asia, while also establishing a footprint in the Middle East.

--IANS

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