About CapitalNumbers Infotech IPO
CapitalNumbers Infotech IPO Details
CapitalNumbers Infotech IPO is a 100% book-built issue of ₹169.37 crore, comprising a fresh issue of ₹84.69 crore and an offer for sale (OFS) of ₹84.69 crore, with a face value of ₹10 per share. The company filed its DRHP with SEBI on June 27, 2024.
The price band of the issue is set between ₹250 to ₹263 per share and the lot size for an application is 400 shares. The minimum amount of investment required by an individual investor is ₹1,05,200 (400 shares). The IPO will open for subscription from Jan 20 to 22, 2025, on the BSE SME platform with a tentative listing date fixed as Jan 27, 2025.
The Book Running Lead Manager was GYR Capital Advisors Private Limited, formerly known as Alpha Numero Services Private Limited, and the Registrar to the Offer was MUFG Intime India Private Limited, formerly known as Link Intime India Private Limited.
CapitalNumbers Infotech IPO Date & Timeline
The CapitalNumbers Infotech IPO Date timeline began with the DRHP dated June 27, 2024. The company subsequently approved its Prospectus dated January 23, 2025. The anchor portion opened and closed on January 17, 2025, followed by the main bidding period from January 20 to January 22, 2025.
Once the subscription window closes, allotment is expected on January 23, 2025. Following this, the firm will initiate refunds and credit shares to successful investors' demat accounts on January 24, 2025. Finally, shares of CapitalNumbers Infotech Ltd. are tentatively scheduled to list on the stock exchanges on January 27, 2025.
CapitalNumbers Infotech IPO Timeline
| IPO Open Date | Mon, Jan 20, 2025 |
| IPO Close Date | Wed, Jan 22, 2025 |
| Basis of Allotment | Thu, Jan 23, 2025 |
| Initiation of Refunds | Fri, Jan 24, 2025 |
| Credit of Shares to Demat | Fri, Jan 24, 2025 |
| Listing Date | Mon, Jan 27, 2025 |
| Cut-off time for UPI mandate confirmation | - |
CapitalNumbers Infotech IPO Details
| Detail | Description |
|---|---|
| IPO Date | 20 to 22 Jan, 2025 |
| Listing Date | 27 Jan, 2025 |
| Face Value | ₹ 10 Per Equity Share |
| Issue Price Band | ₹ 250 to ₹ 263 |
| Lot Size | 400 Shares |
| IPO Type | Fresh capital cum OFS |
| Total Issue Size | 64,40,000 shares (agg. up to ₹ 169 Cr) |
| Reserved for Market Maker | 3,30,000 shares (agg. up to ₹ 9 Cr) Giriraj Stock Broking Pvt.Ltd. |
| Fresh Issue(Ex Market Maker) | 28,90,000 shares (agg. up to ₹ 76 Cr) |
| Offer for Sale | 32,20,000 shares of ₹10 (agg. up to ₹ 85 Cr) |
| Net Offered to Public | 61,10,000 shares (agg. up to ₹ 161 Cr) |
| Issue Type | Book Built Issue |
| Listing At | BSE SME |
| Share Holding Pre Issue | 2,12,06,990 shares |
| Share Holding Post Issue | 2,44,26,990 shares |
CapitalNumbers Infotech IPO raises ₹48.19 crore from anchor investors. CapitalNumbers Infotech IPO Anchor bid date is Fri, Jan 17, 2025.
| Bid Date | Fri, Jan 17, 2025 |
| Shares Offered | 18,32,400 |
| Anchor Portion (₹ Cr.) | 48.19 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sat, Feb 22, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Wed, Apr 23, 2025 |
CapitalNumbers Infotech IPO GMP (Grey Market Premium)
“Grey Market Premium” or GMP is defined as the rate at which the IPO's shares are traded in the market before they are officially listed on the stock exchange.
The CapitalNumbers Infotech IPO GMP is currently trading at ₹45, reflecting the sentiment of unofficial investors before the official listing. This premium suggests a potential listing price of ₹308, which is 17.11% above the issue price. While the Grey Market Premium is a key indicator of demand and investor appetite, it is important to remember that GMP is highly volatile and should not be the sole factor in your investment decisions.
IPO Estimated Listing Return
Based on the IPO Price of ₹263 (highest price band), the latest uploaded Grey Market Premium (GMP) of ₹45 and a lot size of 400 shares.
CapitalNumbers Infotech IPO GMP TREND (DAILY UPDATES)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| 27 Jan, 2025 | ₹263 | ₹45 | 27 Jan, 202511:59 AM |
Company Background
CapitalNumbers Infotech Ltd. was incorporated on July 10, 2012, as a private limited company, named CapitalNumbers Infotech Private Limited under the Companies Act, 1956. It was converted into a public limited company and received a fresh certificate of incorporation dated June 18, 2024, changing its name to CapitalNumbers Infotech Limited. Its registered office is in New Town, West Bengal, and the company operates in the information technology sector.
The company provides technology and software development services to customers across international markets. Its development journey included expansion into web, mobile and e-commerce solutions during 2013–2014, international operations in the US and Australia during 2015–2016, AI/ML services during 2021–2023 and further strengthening of information-security capabilities in 2024 through SOC 2, Type II certification.
Operations & Product Range
CapitalNumbers operates as an IT products and services company with an emphasis on customised software product development. Its service portfolio covers cloud engineering, data engineering and analytics, AI/ML and Generative AI, UI/UX design, blockchain development and AR/VR development. It also provides custom software, web and mobile application development services.
The company follows both fixed-price and time-and-material engagement models. Under its time-and-material model, it forms project teams comprising engineers, designers, quality-assurance specialists and project managers according to client requirements. Its customer-management approach includes dedicated teams for key accounts and subject-matter experts supporting sales, delivery and project initiation.
Facilities & Capacity
As a technology-services company, CapitalNumbers' operational infrastructure consists primarily of development and office facilities rather than manufacturing plants. Its registered office and main development centre are located in New Town, Kolkata, at the Mani Casadona IT Building. The company also has a development centre at Aurbis Summit, South City-1, Gurugram, Haryana, which is held on a 13-month lease.
The Kolkata facility is covered by ISO 9001:2015 for quality management and ISO 27001:2022 for information security. The company also states that its Kolkata facility has SOC 2, Type II certification covering areas including security, confidentiality, processing integrity, privacy and availability of customer data.
Brands & Market Presence
CapitalNumbers operates under the “Capital Numbers” brand, for which the company holds a registered trademark. Its international exposure is particularly significant, with customers located in the United States, United Kingdom and other markets including Canada, Germany, France, Romania, Finland, Indonesia, Ireland, Kuwait, Luxembourg and Malaysia.
The United States accounted for 50.14% of revenue from operations in the six months ended September 30, 2024, while the UK contributed 19.49% and the rest of the world accounted for 30.37%. The company has also received recognitions including Economic Times Best Tech Brand 2024, Times Business Award 2024 for IT Services, Financial Times High-Growth Companies Asia-Pacific 2024 and multiple Clutch and Manifest recognitions.
Revenue Streams & Business Model
CapitalNumbers primarily earns revenue by providing software development and technology consultancy services. Its restated standalone financial statements show revenue from foreign consultancy of ₹49.42 crore in the six months ended September 30, 2024, compared with ₹98.19 crore in FY24, ₹92.76 crore in FY23. Domestic consultancy contributed ₹0.76 crore during the six-month period ended September 30, 2024, while the previous three financial years recorded no domestic consultancy revenue in the disclosed standalone revenue breakdown.
The company describes its model as order-driven and scalable, with growth supported by new-market expansion, product innovation and customer relationships. Its top 10 customers contributed 25.68% of revenue in FY24, compared with 26.78% in FY23 and 30.75% in FY22. The United States and UK together contributed 72.21% of FY24 revenue, showing that geography remains an important business dependency.
Financial Performance
CapitalNumbers Infotech Ltd. reported consolidated revenue of ₹92.57 crore in FY23 and ₹98.17 crore in FY24. This represents growth of approximately 34.02% in FY23 and 6.05% in FY24. Consolidated PAT increased from ₹17.35 crore in FY23 and ₹25.99 crore in FY24. For the six months ended September 30, 2024, revenue from operations stood at ₹50.19 crore and PAT at ₹13.67 crore. The prospectus also reports Return on Net Worth of 29.10% in FY2023 and 38.62% in FY2024.
Management & Shareholding
CapitalNumbers Infotech Ltd. is promoted by Mukul Gupta, Vipul Gupta and Herprit Gupta. Before the IPO, Mukul Gupta held 53.04%, Vipul Gupta 10.05% and Herprit Gupta 36.90% of the pre-offer equity share capital. Together, the disclosed promoter and promoter-group holding was 99.99%.
But after the IPO, the promoters’ shareholding will be slightly diluted as the offering include an OFS of up to 32,20,000 shares by the three promoter selling shareholders. The fresh issue would increase the company's paid-up equity share capital from 2,12,06,990 shares before the issue to 2,44,26,990 shares after the proposed offer.
Board & Key Management
The company's board is headed by Mukul Gupta, who serves as Chairman, CEO and Managing Director. Vipul Gupta and Herprit Gupta serve as Executive Directors. The non-executive independent directors are Vikas Sethia, Shounak Mitra and Neha Nimesh Shah.
Mukul Gupta and Vipul Gupta founded the company in 2012 and are described as having decades of IT-industry experience. The management team also includes Sanket Harlalka as Chief Financial Officer and Priya Jhunjhunwala as Company Secretary and Compliance Officer.
CapitalNumbers Infotech IPO Financial Information
Latest Revenue
50.18
₹ Crore
Profit After Tax
13.67
₹ Crore
Net Worth
81.14
₹ Crore
Total Borrowing
1.07
₹ Crore
| Period Ended | Assets | Revenue | Profit (PAT) | Net Worth | Reserves | Borrowing |
|---|---|---|---|---|---|---|
| 30 Sep 2024 (Consolidated) | 89.96 | 50.18 | 13.67 | 81.14 | 59.93 | — |
| 31 Mar 2024(Consolidated) | 72.91 | 98.17 | 25.99 | 67.45 | 46.24 | — |
| 31 Mar 2023(Consolidated) | 68.96 | 92.57 | 17.35 | 59.96 | 59.85 | 1.07 |
| Amount in ₹ Crore | ||||||
CapitalNumbers Infotech Key Performance Indicator
| KPI | Values(31 Mar 2024) |
|---|---|
| ROCE | 51.90 % |
| RoNW | 38.62 % |
| PAT Margin | 26.47 % |
| NAV | 31.81 |
| Price to Book Value | 8.29 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 12.25 | 11.19 |
| P/E (x) | 21.46 | 23.5 |
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹263.00 |
| Open | ₹274.00 |
| Low | ₹260.30 |
| High | ₹274.00 |
| Last Trade | ₹261.35 |
CapitalNumbers Infotech IPO Objectives
The company intended to utilize the CapitalNumbers Infotech IPO proceeds for the following strategic purposes:
- Funding the expenses of technical advancement of leading-edge technology
- Investment in subsidiary and expenses on the business development
- Funding the inorganic growth via unidentified acquisition and other strategic initaitives
- General corporate purposes
CapitalNumbers Infotech IPO Review
The CapitalNumbers Infotech Ltd. is an IT-services company with an established operating history dating to 2012 and spans software development and newer technology areas including AI/ML, Generative AI, cloud engineering, data analytics, blockchain and AR/VR. Its export-oriented model provides access to international technology markets, while the company's certifications support its stated focus on quality and information security.
Financial performance showed improvement in profitability over FY22–FY24. Consolidated revenue increased from ₹69.07 crore to ₹98.17 crore over the period, while PAT rose from ₹15.82 crore to ₹25.77 crore. The six-month FY25 performance also recorded ₹50.19 crore of revenue and ₹13.65 crore of PAT.
At the same time, the business has international and currency exposure, from where the revenue from the US and UK represented 69.63% of revenue during the six months ended September 30, 2024 and 72.21% in FY24. The company also states that 100% of revenue from operations came from outside India in each of FY22-24, creating exposure to foreign-exchange movements and conditions in overseas markets.
Customer concentration is another factor to monitor, although the concentration among the largest customers declined over the disclosed period. The top 10 customers represented 25.68% of FY24 revenue, while the top five accounted for 17.68%. The prospectus also identifies competition, changing technology requirements and the ability to attract and retain skilled employees as factors that can affect operations.
Conclusion
CapitalNumbers Infotech IPO is a chance to invest in an export-focused IT-services company providing customised software development and technology solutions across areas such as cloud, data, AI/ML, mobile applications and digital engineering. Its financial profile showed rising revenue and PAT through FY24, supported by an international customer base and a broad technology-service portfolio. With this listing, the company aims to focus on the technology advancement, business development, investment in Capital Numbers LLC and potential inorganic growth. The key factors to monitor include its dependence on international markets, foreign-exchange exposure, customer concentration, competition for technology talent.
| Price Details | BSE |
|---|---|
| Final Issue Price | ₹263.00 |
| Open | ₹274.00 |
| Low | ₹260.30 |
| High | ₹274.00 |
| Last Trade | ₹261.35 |
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IPO Lot Size
| Investors | No.of lots | Shares Offered | Max Bid Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 1 | 400 | 1,05,200 |
| Individual investors (Retail) (Max) | 1 | 400 | 1,05,200 |
| HNI (Min) | 2 | 800 | 2,10,400 |