iValue Infosolutions, Backed by Creador, Files for IPO with Complete Offer-for-Sale Plan

Creador-backed iValue Infosolutions, a Bengaluru-based enterprise technology solutions provider, has submitted its draft papers to the Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO).

This IPO will be an entirely offer-for-sale (OFS) component, involving the sale of 1.87 crore equity shares, with no fresh issue of shares.

The company's promoters—Krishna Raj, Sunil Kumar, and Srinivasan Sriram—will be selling their shares as part of the OFS, meaning the proceeds, minus IPO expenses, will go directly to these selling shareholders rather than the company itself. Additionally, Sundara (Mauritius) Ltd, an affiliate of the private equity firm Creador, plans to offload 1.1 crore shares. Creador had previously invested $18 million to acquire a minority stake in iValue Infosolutions in 2019.

Specializing in securing and managing digital applications and data, iValue offers services such as security analytics, network security, application management, cloud integration, digital transformation, and risk assessment. According to its draft red herring prospectus, iValue has no direct competitors listed on Indian stock exchanges.

For the fiscal year ending March 2024, iValue's revenue from operations was Rs 780 crore, slightly down by over 2% compared to Rs 797 crore in the previous year. However, the company's net profit surged nearly 17% to Rs 70.5 crore. In 2023, its total income was Rs 60 crore.

The promoter and promoter group together hold 49.14% of the company, while public shareholders own the remaining 50.84%. The company claims it has a strong position in the rapidly expanding technology solutions and services market in India and neighboring regions.

Motilal Oswal Financial Services and IIFL Securities are the lead managers for the IPO, while Kfin Technologies is appointed as the registrar for the issue.

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