MARC Technocrats Ltd. IPO...
12 Dec, 2025
Prodocs Solutions IPO
The IPO size of Prodocs Solutions Ltd. is ₹27.60 crores from 20,00,000 equity shares in a book-built SME issue. The price band is fixed at ₹131 to ₹138 per share and the face value is ₹10. Bidding opens on 8 Dec 2025 and closes on 10 Dec 2025 and the allotment date is fixed for 11 December 2025. The shares will be listed on the BSE SME platform on December 15, 2025.
Company background
Prodocs Solutions Limited is an ITES (IT-enabled services) and Non-voice BPO concern servicing back-office work for our clients in the USA & Australia as of now. With a range of services from indexing to title solutions, e-publishing, financial and accounting support, and litigation support. It began as a private limited company and became a public limited company with a new certificate of incorporation on 13 November 2024.
Operations And service range
Services And Delivery Model
Prodocs is into non-voice BPO services that deal with data-driven activities such as document indexing, title search and verification conversion & e-publishing and back-office needs of finance, accounting or legal processes. The organization provides offshore services to suit the needs of its clients and uses teams that have been homegrown in-house domestically, along with a small IT team responsible for system integration, internally developed applications and maintenance.
Clients And Market Presence
The customer base is growing primarily abroad and 98–99% of revenue comes from foreign buyers, particularly from the US and Australia. Niche back office processes attract long-term relationships and repeat contracts. Revenue visibility 90% 72%. Prodocs operates from delivery centres in India, enabling better time-zone coverage as well as cost-effective service delivery.
Prodocs Solutions IPO revenue profile
Revenue mainly comes from service fees for indexing, title services, e-publishing and other back-office outsourcing. While revenue decreased 6% from ₹45.66 crore (FY2024) to ₹42.78 crore, PAT grew by 61% from ₹3.16 crore to ₹5.11 crore, owing to margin expansion and cost control in FY2025. Key Ratios are good with an EBITDA margin of 19.57% and PAT Margin of 11.94%, ROE of 26.62% and ROCE of 27.12, while debt-to-equity is modest at 0.42.
Management And Shareholding
Promoters And Shareholding
The promoters of Prodocs Solutions IPO include the founding management team, which has built the business in ITES/BPO operations, supported by professional leadership in delivery and technology. Pre-issue, the company is closely held, and the IPO is a pure fresh issue to fund growth while retaining promoter control.
Board and Governance
The board is composed of executive directors and independent directors with experience in IT services, finance and corporate governance. They are currently focusing on scaling offshore delivery, meeting listing requirements for SMEs and strengthening their internal systems.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Prodocs Solutions IPO
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Prodocs Solutions IPO Details
| Detail | Description |
|---|---|
| IPO Date | Mon, Dec 8, 2025 to Wed, Dec 10, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹131 to ₹138 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 20,00,000 shares (aggregating up to ₹27.60 Cr) |
| Reserved for Market Maker | 1,00,000 shares (aggregating up to ₹1.38 Cr) Fortune Fiscal Limited |
| Fresh Issue(Ex Market Maker) | (Ex Market Maker)15,00,000 shares (aggregating up to ₹20.70 Cr) |
| Offer for Sale | 4,00,000 shares of ₹10 (aggregating up to ₹5.52 Cr) |
| Net Offered to Public | 19,00,000 shares (aggregating up to ₹26.22 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 54,50,000 shares |
| Share Holding Post Issue | 70,50,000 shares |
Prodocs Solutions IPO Timeline
| Detail | Description |
|---|---|
| IPO Open Date | Mon, Dec 8, 2025 |
| IPO Close Date | Wed, Dec 10, 2025 |
| Tentative Allotment | Thu, Dec 11, 2025 |
| Initiation of Refunds | Fri, Dec 12, 2025 |
| Credit of Shares to Demat | Fri, Dec 12, 2025 |
| Tentative Listing Date | Mon, Dec 15, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Dec 10, 2025 |
Prodocs Solutions IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2,000.00 | ₹2,76,000 |
| Individual investors (Retail) (Max) | 2 | 2,000.00 | ₹2,76,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,14,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,66,000 |
| B-HNI (Min) | 8 | 8,000 | ₹11,04,000 |
Prodocs Solutions IPO Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | - |
| Promoter Holding Post Issue | - |
Competitive Strength:
- • Specialized services-based non-voice BPO player who mainly services US and Australian clients with niche offerings in indexing, title services, e-publishing, finance and legal back-office. Backed by a strong US corporate credit clientele.
- • Strong profitability metrics despite a small revenue dip: FY2025 PAT up 61% YoY, with healthy EBITDA and PAT margins, ROE of 26.62% and ROCE of 27.12%, and moderate leverage.
- • Recurring revenue from customers of end-users located abroad (over 98% of overseas clients) and deep client relationships providing visibility and steady cash flows.
Prodocs Solutions IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 30 Sep 2025 | 38.94 | 21.11 | 3.43 | 22.43 | 7.46 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2025 | 35.08 | 42.78 | 5.11 | 19 | 7.99 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2024 | 13.04 | 45.66 | 3.16 | 5.87 | 2.15 | |||||||||||||||||||||||||||||||||||
| 31 Mar 2023 | 7.65 | 36.81 | 1.54 | 2.8 | 0.85 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROCE | 27.12% |
| Debt/Equity | 0.42 |
| RoNW | 26.62% |
| PAT Margin | 11.94% |
| EBITDA Margin | 19.57% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 74.31% | |
| P/E (x) |
IPO Objectives
The funds raised from the IPO, worth ₹27.60 crores, will be used for the following purposes:
- • To develop, design, implement and support a customised software platform according to the company's specific operational requirements (₹4.31 crore).
- • Capital expenditure for purchase and installation of IT equipment, computer hardware and ancillary infrastructure (₹3.93 crore).
- • Working capital and general corporate purposes, for business expansion and balance sheet fortification.
Conclusion
The Prodocs Solutions IPO provides exposure to a niche, profitable non-voice BPO/ITES player with a predominantly offshore client base and strong margin expansion. Investors who are comfortable with SME IT services and the offshore demand cycle could consider it an interesting bet on specialized back-office outsourcing.
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Frequently asked Questions (FAQs )
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Q1: What is the size of the Prodocs Solutions IPO?
The IPO size is ₹27.60 crores, comprising 20,00,000 equity shares in a book-built SME issue.
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Q2: What is the price band and lot size?
The price range is ₹131–₹138 per share; the minimum lot size and fund-raising will leave you with questions starting with ₹2,76,000 (at the upper band) for a retail application.
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Q3: When does the Prodocs Solutions IPO open and list?
The IPO opens on 8 December 2025 and closes on 10 December 2025, with allotment of the shares on 11 December 2025 and a scheduled listing date of 15 December 2025 at BSE SME.
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Q4: What does Prodocs Solutions do?
It is a BPO / ITES company specializing in non-voice-based services such as indexing, title services, e-publishing, finance and accounting support and litigation services for the clients overseas.
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Q5: How is the recent financial performance?
FY2025 revenue was ₹42.78 crore (down ~6% YoY), while PAT rose to ₹5.11 crore (up ~61% YoY), with EBITDA margin 19.57% and PAT margin 11.94%.
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Q6: How much of the revenue comes from overseas clients?
Around 98–99% of revenue in FY2023–FY2025 and H1 FY2026 is derived from overseas customers, mainly in the US and Australia.
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