The public issue remains open for bidding until September 22.
This is a complete offer-for-sale (OFS) of 1.87 crore equity shares. The price band for the offer has been fixed at Rs 284 to Rs 299 per share, and investors can bid in lots of 50 shares. At the upper price band, iValue seeks a valuation of approximately Rs 1,601 crore.
iValue Infosolutions IPO GMP Today
The grey market premium (GMP) for iValue Infosolutions currently stands at around Rs 16, implying a 5% premium over the issue price of Rs 299. This suggests a potential listing price of approximately Rs 315 per share.
Note: GMP is an unofficial and unregulated indicator of market sentiment. While it can reflect investor enthusiasm, it may not always align with actual listing-day performance.
iValue Infosolutions IPO Subscription Status (As of Day 1)
As per stock exchange data, the IPO was 37% subscribed as of 10:55 AM on Day 2.
Retail Individual Investors (RIIs): The retail category was 59% subscribed to of the 65.58 lakh shares reserved.
Non-Institutional Investors (NIIs): This segment, including high-net-worth individuals, had 33% of the allotted 28.10 lakh shares booked.
Qualified Institutional Buyers (QIBs): No bids were recorded yet for the 37.47 lakh shares allocated to QIBs—a typical trend, as institutional investors often place bids on the final day of the offer.
Promoters and Investors Reducing Holdings
The offer for sale in iValue Infosolutions IPO includes share divestments by key promoters — Sunil Kumar Pillai, Krishna Raj Sharma, Srinivasan Sriram, and Hilda Sunil Pillai — along with investor Sundara (Mauritius) Ltd, who are offloading a portion of their stake in the IPO.
IPO Allocation Structure and Listing Timeline
iValue Infosolutions has reserved 50% of shares on offer in the IPO for Qualified Institutional Buyers (QIBs), 35% for Retail Investors, and the remaining 15% for Non-Institutional Investors (NIIs). The company’s shares are expected to be listed on both the NSE and BSE on September 26.
Company Overview
Founded to bridge the gap between global Original Equipment Manufacturers (OEMs) and Indian enterprises, iValue Infosolutions has grown into a value-added distributor offering much more than traditional product supply. The company specialises in curating integrated, multi-vendor technology solutions across critical areas such as cybersecurity, information lifecycle management, data centre infrastructure, hybrid cloud, and application lifecycle management.
As of FY25, iValue partners with 109 OEMs and operates through a strong network of 804 system integrators (SIs). Its solutions are closely aligned with enterprise priorities like digital transformation, data protection compliance, and the growing shift toward AI and cloud-native technologies. The company’s strategic alliances with top tech players such as Splunk, Google Cloud, Nutanix, Check Point, and Arista further strengthen its market presence.
Financial Performance
In FY25, iValue reported operational revenue of Rs 923 crore, reflecting a year-on-year growth of 18%. Profit after tax (PAT) stood at Rs 85.3 crore, with a PAT margin of 9.2%, indicating healthy profitability. The company also posted strong return metrics, with a Return on Equity (RoE) of 18.4% and Return on Capital Employed (RoCE) of 25%.
Customer acquisition has been on an upward trajectory, growing from 1,804 in FY23 to 2,877 in FY25. However, the company continues to face a challenge with high employee attrition, which stood at over 34% in FY25.
Risks
iValue’s business is significantly dependent on its top 10 OEM partners, which contribute to over 60% of its total revenue—a concentration that poses a key business risk. Additionally, the company operates in a highly competitive market, facing pressure from other value-added distributors. There’s also the strategic risk of disintermediation, as OEMs may choose to bypass distributors and sell directly to end customers, potentially impacting iValue’s business model.
Should You Subscribe?
At the upper end of the price band, the IPO is priced at a P/E ratio of 18.8x based on FY25 earnings. Analysts at SBI Securities have given a “Subscribe” rating, citing iValue Infosolutions’ strong OEM partnerships, ecosystem stickiness, and alignment with high-growth segments in enterprise IT spending.
Also read: The big Rs 1.4 lakh crore question: Are FIIs done betting against Sensex, Nifty?
The brokerage noted, “iValue is a value-added solutions aggregator well-positioned to play a key structural role in India’s enterprise IT ecosystem. Its business model is supported by strong OEM relationships and is closely aligned with rapidly growing digital transformation trends.”
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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