Mr Sandeep Kumar Pahariya, Chairman and Managing Director and Mrs Niru Pahariya, Fulltime Director, VertexPlus Technologies Limited
Jaipur (Rajasthan) [India]February 28: VertexPlus Technologies Limited, a Jaipur-based information technology company engaged in consulting, outsourcing, infrastructure and digital solutions and services, has announced its IPO for 14,79,600 shares in a price range of £91-£96 per share with a par value of ₹10 per share. Out of 14,79,600 shares, 7.02.000 shares are reserved for the QIB quota (including Anchor Reservation), 2.11.200 shares are reserved for the HNI quota and 4.92,000 shares are reserved for the retail quota while 74,400 shares are reserved are deferred below the market maker quota. The shares are sold in lots of 1,200. Issuance begins March 1, 2023 for the anchors and March 2, 2023 otherwise. Closing date is March 6, 2023. It will then be listed on the NSE Emerge platform. The lead manager of the issue is Beeline Capital Advisors Pvt. GmbH.
The expected use of the proceeds from the issue is as follows:
– 70% for working capital needs
– 20% for general corporate purposes
– 10% for issuing costs
VertexPlus Technologies Limited is an ISO 9001:2015 and ISO/IEC 27001:2013 certified information technology company engaged in consulting, outsourcing, infrastructure and digital solutions and services. It works with organizations to meet their ever-evolving information technology needs and supports their business with its essential solutions to strengthen their current capabilities and create pathways for sustainable growth. The company has experience in various industries. The company offers four broad categories of services – technology, consulting, infrastructure and outsourcing. The company offers quality and on-time delivery of complex enterprise projects through 5 delivery models: off-shore, on-site, hybrid, global and strategic partnerships. VertexPlus Technologies has a global supply network and a diversified customer base and revenue stream.
VertexPlus Technologies Limited has enjoyed steady growth over the years. Operating income was ₹208.6 million in FY22 and ₹196.4 million in FY21, while it was ₹105.5 million in the first half of FY23. The company recorded FY22 EBITDA of £32m which was £21m in FY21 and the same was £17m in the first half of FY23. Its PAT for FY22 was £18.6m Sterling and for the year 21 £10.5 million; while for H1FY23 it registered a PAT of ₹9.1 million.
Mr. Sandeep Kumar Pahariya, Chairman and Managing Director of VertexPlus Technologies Limited, is the company’s promoter and has over 24 years of experience in the IT industry.
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Published on: Wednesday 01 Mar 2023 09:52 IST
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