Ivalue Infosolutions
Book Building issueMainboardBSE₹560 Cr issue
-4.68%
Listing gain over issue price
Issue size
₹560 Cr
1 lot at cut-off
₹14,950
Lot size
50shares
Open
18 Sep 2025
Close
22 Sep 2025
Allotment
23 Sep 2025
Listing
25 Sep 2025
Listing performance
Issue price
₹299
Listed at
₹285
Listing-day close
₹281.85
Latest price
₹232.27
Close on 12 Oct 2026
Listing gain
-4.68%
Return since issue
-22.32%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 18 Sep 2025 – 22 Sep 2025
- Listing date
- 25 Sep 2025
- Face value
- ₹1 per share
- Issue price
- ₹299 per share
- Lot size
- 50 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹560 Cr
- Market cap at offer price
- ₹1,601 Cr
- Promoter holding
- 39.92% → 32.01% pre-issue → post-issue
- ISIN
- INE056801025
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- IIFL Capital Services Ltd.
- Registered office
- No.903/1/1, 19th Main Road, 4th Sector, HSR Layout, Bengaluru, Karnataka
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Anchor investor · within QIB | 56,21,686 | — | — |
| Market maker | 0 | — | — |
Application size
Minimum 50 shares per lot, in multiples, at ₹299
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 50 | ₹14,950 |
| Retail (max) | 13 | 650 | ₹1,94,350 |
| S-HNI (min) | 14 | 700 | ₹2,09,300 |
| S-HNI (max) | 66 | 3,300 | ₹9,86,700 |
| B-HNI (min) | 67 | 3,350 | ₹10,01,650 |
Category limits
| Category | Bid size | Cut-off |
|---|---|---|
| Retail (RII) | Up to ₹2 lakh | Yes |
| Small HNI (sNII) | ₹2 lakh – ₹10 lakh | No |
| Big HNI (bNII) | Above ₹10 lakh | No |
| Employee | Up to ₹5 lakh | Yes |
Bidding at cut-off means accepting the final issue price without naming one. Only retail and employee applicants may do so.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Shares allocated
56,21,686
Anchor portion
₹168 Cr
at ₹299 per share
Valuation and performance
Valuation at offer price
₹299 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 15.93 | 15.93 |
| P/E (×) | 18.77 | 18.77 |
| Price to book (×) | 4.96 | — |
| Market cap | — | ₹1,601 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 22.02%
- ROCE
- 28.98%
- PAT margin
- 8.87%
- NAV per share
- ₹60.26
- Price to book
- 4.96
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Ivalue Infosolutions
iValue Infosolutions Limited is an Indian technology solutions company incorporated on April 9, 2008, based in Bengaluru. The company serves large enterprises in their digital transformation by curating and providing technology solutions that address enterprise needs. The company works with Original Equipment Manufacturers (OEMs) and System Integrators (SIs) to identify, recommend and deploy solutions for securing and managing digital applications and data. iValue operates as a distributor and solutions specialist, not a manufacturer, partnering with global technology brands to deliver comprehensive solutions across cybersecurity, information lifecycle management, data center infrastructure, and application lifecycle management. The company does not manufacture or develop products but specializes in identifying, curating and deploying OEM solutions to meet enterprise customer requirements.
Company Analysis
from RHPiValue Infosolutions is an enterprise technology solutions specialist offering comprehensive, purpose-built solutions for securing and managing digital applications and data across cybersecurity, information lifecycle management, data center infrastructure, and application lifecycle management.
iValue Infosolutions Limited is an Indian technology solutions company incorporated on April 9, 2008, based in Bengaluru. The company serves large enterprises in their digital transformation by curating and providing technology solutions that address enterprise needs. The company works with Original Equipment Manufacturers (OEMs) and System Integrators (SIs) to identify, recommend and deploy solutions for securing and managing digital applications and data. iValue operates as a distributor and solutions specialist, not a manufacturer, partnering with global technology brands to deliver comprehensive solutions across cybersecurity, information lifecycle management, data center infrastructure, and application lifecycle management. The company does not manufacture or develop products but specializes in identifying, curating and deploying OEM solutions to meet enterprise customer requirements.
cybersecurityinformation lifecycle managementdata center infrastructureapplication lifecycle managementprofessional and managed services
Objects of the Issue
- Achieve the benefits of listing the Equity Shares on the Stock Exchanges and carry out the Offer for Sale p.27
- No proceeds to the Company - Offer for Sale only p.57
- Listing of Equity Shares on Stock Exchanges p.137
- Offer for Sale by Selling Shareholders p.137
- Not disclosed in Part 4
- Not applicable - this is an Offer for Sale by Selling Shareholders, not a fresh issue by the Company p.441
Issue Structure
- Total Issue
- Up to 18,738,958 Equity Shares of face value of ₹ 2 each aggregating up to ₹ [●] million
- Fresh Issue
- Not Applicable
- Offer for Sale
- Up to 18,738,958 Equity Shares of face value of ₹ 2 each aggregating up to ₹ [●] million
- Lot Size
- [●] Equity Shares of face value of ₹ 2 each
- Face Value
- ₹ 2 each
Business Model
iValue derives revenue by partnering with OEMs (providing 63.02% of gross sales billed to customers in FY2025 from top 10 OEMs) and System Integrators to distribute and curate technology solutions. The company bills customers for comprehensive IT solutions provided either through system integrators or directly to end customers. The business model involves understanding enterprise customer needs and recommending purpose-built solutions from OEM partners. Revenue is generated through the provision of technology solutions and services rather than product manufacturing.
Business Segments
Technology products and hardware solutions
Software solutions and allied support services
Information technology enabled services
Sale of hardware items such as servers, hardware security modules, and authentication keys. The company acts as principal and assumes primary responsibility for fulfilling the promise to provide the goods and for their acceptability.
Software licensing agreements where the company acts as agent. The software licensing agreement is between the vendor and the customer, and the vendor is responsible for issuing the licenses and activation keys, for the software's functionality, and for fulfilling the promise to provide the licenses to the customer.
IT-enabled services provision to support the technology solutions and products distributed by the company.
Cybersecurity solutions and services
Information Lifecycle Management solutions
Data Centre Infrastructure solutions
Other technology solutions
Offerings encompass cloud security, network security, OT security, endpoint security, application security and IAM solutions through partnerships with leading OEMs like Checkpoint, Splunk, Sentinel One, Forcepoint
Solutions ensure efficient handling and protection of data including storage systems, data protection, monitoring & management and data backup and recovery services
Comprehensive solutions including edge data center, hyper-converged infrastructure, software-defined data center, sustainable data center and storage system & recovery/backup
Strategically focusing on DevOps, DevSecOps, Application performance, Cloud security & Management, AI/ML, AIOps designed to address performance, availability, scalability, and security needs
Hybrid cloud solutions and services with recent partnerships for GCP, Google Chronicle, Nutanix, Lenova server and storage solutions and EDB to meet enterprise cloud adoption needs
Comprehensive professional and managed services including managed infrastructure services, managed security services, enterprise service management, multi-cloud services, and 24x7 SOC/NOC services following acquisition of ASPL Info Services in February 2023
Designed to provide businesses with protection across all fronts, including cloud security, network security, operational technology security, endpoint security, authentication and authorization, and application security. The company partners with industry leaders like Check Point, Tenable, Imperva, Innsafe, Entrust and Forcepoint.
Involves methodology and technology used to store, organize, protect and access digital data. The company offers storage system solutions, data protection solutions, monitoring and management tools, data classification and recovery and back-up tools, as well as infrastructure solutions for analytics. Key OEM partners include Hitachi.
Comprises physical and virtual components used to store, power, cool, and connect servers, storage systems and networking equipment. The company provides solutions in respect of edge data centers, hyper converged infrastructure, software-defined data centers, sustainable data center, and storage systems. Key OEM partners include Arista and Riverbed.
An integrated approach to managing software applications throughout their entire life cycle, from initial planning, design, development to deployment and maintenance. The company's offerings include software development lifecycle, static code monitoring, testing, deployment, performance management and analysis. Key OEM partners include Google Cloud, Splunk and Nutanix.
A hybrid cloud architecture integrates two or more cloud services from multiple cloud OEMs. The company offers curated solutions for migration and transition of application and data between hypervisors in a flexible and cost-effective manner, as well as solutions for managing enterprise customers' hybrid-cloud infrastructure including cloud security and management. Key OEM partners include Google Cloud and Nutanix.
Successfully integrated suite of service offerings including managed infrastructure services, managed security services, enterprise service management, 24x7 security and network operations services. Also provides hybrid-cloud services enabling organizations to deploy, manage, and optimize workloads across multiple cloud environments.
Involves the use of hardware and software to monitor and control physical devices, processes, and events. Offerings cover deployment and management of OT and IoT solutions, including device connectivity, data collection, real-time analytics, and security of OT and IoT networks. Key OEM partners include Tenable, Splunk, SentinelOne, Arista, Check Point, Forcepoint and MicroFocus (Opentext).
Sale of hardware items consisting of servers, hardware security modules and authentication keys
Procurement of appropriate software products from relevant vendors and provision of software licensing services; acts as agent in these arrangements
Provision of support and maintenance contracts towards infrastructure managed services and annual services contracts
Provides cybersecurity solutions and services to enterprise customers through OEM partnerships
Provides information lifecycle management solutions and services to enterprise customers
Provides data center infrastructure solutions and services to enterprise customers
Provides application lifecycle management, hybrid cloud solutions, and other associated customer solutions and services
Cybersecurity solutions and related services
Information lifecycle management solutions and services
Data center infrastructure solutions and services
Application lifecycle management and other product groups
SWOT Analysis
Strengths
- • Established network of 109 OEMs across designated geographies(p.49)
- • Diversified System Integrator base with 804 SIs across categories(p.50)
- • Presence in high-growth domains critical to enterprises(p.52)
- • Strong credit insurance coverage significantly reduces customer default risk(p.53)
- • Diversified OEM network providing access to multiple technology solutions(p.57)
- • Improved profitability and revenue growth trajectory(p.87)
- • Proprietary technology platforms (CLCA and IValue CoE) supporting competitive differentiation(p.60)
- • Strong IT professional workforce enabling service delivery(p.53)
- • Uniquely positioned in large, fast-growing technology solutions market in India and neighbouring economies(p.139)
- • Comprehensive multi-OEM solutions and services portfolio differentiating as strategic technology advisor(p.139)
- • Strong and expanding OEM relationships across focus areas(p.139)
- • Large, expanding and diversified System Integrators network with high retention and repeat business(p.139)
- • Experienced leadership team with significant IT and software solutions sector experience(p.139)
- • Strong and consistent profitable financial track record of growth(p.139)
- • Strong OEM partnership ecosystem with 109 OEM partners(p.220)
- • Extensive System Integrator network with 804 active SI partners(p.220)
- • Curated multi-OEM solution stacks with 30+ pre-integrated offerings(p.220)
- • Significant technical workforce with 50%+ holding OEM certifications(p.220)
- • Strong gross margins and EBITDA performance(p.229)
- • Consistent revenue growth with 15.58% YoY growth in FY25(p.221)
- • Uniquely positioned in India's fast-growing technology solutions market with TAM growing at 23.1% CAGR to $78.9B by 2030(p.242)
- • Strong OEM relationships across cybersecurity, information lifecycle management, and data centre infrastructure with 109 OEM partners growing from 93 in FY2023(p.246)
- • Large and diverse System Integrator network of 804 partners with high retention and repeat business at 80.73% of gross sales(p.245)
- • Skilled technology workforce with 215 employees holding technical qualifications and 1,011 OEM certifications representing 51% of total employees(p.248)
- • Profitable growth with gross sales CAGR of 16.07%, gross profit CAGR of 16.17%, and PAT CAGR of 19.32% from FY2023-FY2025(p.249)
- • Curated multi-OEM solution stacks with 30+ ready-to-deploy pre-integrated solutions and Ivalue CoE platform for accelerated sales cycles(p.241)
- • Experienced leadership team with Promoters having 23+ years of software solutions industry experience and long-tenured senior management(p.248)
- • Strong financial metrics with healthy ROCE of 27.98% and debt service coverage ratio of 6.55x in FY2025(p.250)
- • Established management team with diverse industry experience(p.298)
- • Qualified and experienced CFO with strong financial background(p.298)
- • Low attrition rate among senior management(p.300)
- • Established promoter group with long operational tenure(p.303)
- • Comprehensive Board governance framework with specialist committees(p.294)
- • Large and diversified OEM partnership network enabling significant scale(p.383)
- • Strong System Integrator network with consistent growth trajectory(p.383)
- • Expanding enterprise customer base and transaction volume(p.381)
- • Strong financial position with positive net debt(p.347)
- • Significant undrawn borrowing facilities available for growth(p.354)
- • Revenue growth with improving profitability metrics(p.376)
- • Diversified product portfolio across cybersecurity, infrastructure, and lifecycle management(p.404)
- • Strong revenue growth momentum with 18.26% YoY increase(p.404)
- • Solid cash generation and liquidity position(p.406)
- • Low financial leverage with minimal debt(p.408)
- • Profitability improvement with 20.87% PAT growth(p.405)
Weaknesses
- • Heavy concentration in top 10 OEMs representing 63% of gross sales(p.49)
- • Dependence on limited number of System Integrators for 25-35% of revenue(p.50)
- • Non-exclusive agreements with OEMs and SIs lack long-term commitments(p.51)
- • No manufacturing or product development capabilities(p.52)
- • Exposure to credit risk from System Integrators(p.52)
- • High employee attrition rates increasing costs and operational risks(p.54)
- • Low gross profit margins magnifying impact of cost variations(p.59)
- • Past experience of customer bankruptcy resulting in significant receivables loss(p.53)
- • Heavy dependence on a few OEMs for supply of critical products(p.57)
- • Outstanding contingent liabilities related to customs and GST disputes(p.64)
- • History of negative cash flows from operations in prior years(p.55)
- • Dependence on System Integrators as key channel to reach end customers(p.139)
- • High Days Sales Outstanding indicating extended customer payment cycles(p.230)
- • Modest absolute EBITDA margins relative to larger global peers(p.229)
- • Limited international presence compared to global competitors(p.220)
- • Smaller scale compared to established global VADs(p.229)
- • Concentration risk with top 3 OEM partnerships generating significant historical revenues (e.g., one ILM OEM generated ₹4,078.19M in FY2025, down from ₹5,509.30M in FY2023)(p.239)
- • High working capital requirements with net working capital days increasing to 42 days in FY2025 from 28 days in FY2023(p.250)
- • Days Sales Outstanding increased to 125 days in FY2025 from 141 days in FY2023, indicating extended payment collection periods(p.250)
- • Credit insurance coverage declining to 90.19% of receivables in FY2025 from 100% in FY2023, increasing default risk exposure(p.262)
- • Property holdings on leasehold basis with no assurance of lease renewal; registered office lease expires October 31, 2031(p.263)
- • Revenue model concentrated in software and allied support with net basis accounting reducing reported revenues by ₹15,166.95M in FY2025(p.242)
- • Significant revenue concentration dependent on software and allied support business model change(p.330)
- • Goodwill impairment risk from ASPL acquisition(p.334)
- • Significant subsidiary losses and negative equity position(p.311)
- • Working capital debt facility dependent on continuous banker support(p.341)
- • High leverage through multiple subsidiary borrowings(p.341)
- • High concentration in top customer segments(p.383)
- • Significant dependence on System Integrator partnerships(p.383)
- • Unpredictable and variable business from individual SIs(p.383)
- • Ongoing disputes with tax authorities creating contingent liabilities(p.359)
- • Rising finance costs indicating increasing debt burden(p.344)
- • Subsidiary operations generating losses(p.366)
- • Inventory concentration and obsolescence risk from rapid product changes(p.400)
- • Significant increase in trade receivables indicating working capital pressure(p.409)
- • Contingent liabilities from customs disputes(p.410)
- • Outstanding indirect tax disputes(p.421)
Opportunities
- • Large addressable market in cybersecurity and digital transformation(p.27)
- • Strong government initiatives driving digitalization and cybersecurity(p.27)
- • Accelerated digital transformation creating surge in demand(p.52)
- • Growing global demand for digital transformation and IT solutions(p.56)
- • Expansion into international markets and geographies(p.73)
- • Rising adoption of AI and ML technologies creating new solution opportunities(p.56)
- • Increasing industry consolidation enabling acquisition-driven growth(p.76)
- • Growing emphasis on digital service delivery and digital transformation across enterprises(p.139)
- • Expanding OEM partner network growth trajectory(p.139)
- • Significant growth in System Integrators network(p.139)
- • Rising global IT spending with cloud computing and cybersecurity as major drivers(p.171)
- • Strong India-specific government digital initiatives driving IT investment(p.170)
- • India IT transformation market growing at 23.1% CAGR with TAM expected to reach $78.9 billion by 2030(p.181)
- • Data Center Infrastructure market in India projected to grow at 32.1% CAGR reaching $40.1 billion by 2030(p.196)
- • Cloud security market in India growing at 24.1% CAGR driven by Digital India initiatives(p.185)
- • Cybersecurity market in India growing at 19.3% CAGR as digital transformation accelerates(p.185)
- • Application Lifecycle Management market in India growing at 23.1% CAGR(p.200)
- • Government initiatives and supportive policies creating favorable ecosystem(p.192)
- • Rising adoption of DevSecOps with CAGR of 29.8% reflecting security-first development approach(p.201)
- • Expanding ALM and hybrid cloud offerings with Indian ALM market growing at 24% CAGR to $1.59B by 2030(p.244)
- • Capitalize on India's data center infrastructure market growing at 32.1% CAGR to $40.1B by 2030(p.244)
- • Indian cybersecurity market opportunity growing at 19.3% CAGR to $14.6B by 2030 driven by digital transformation(p.243)
- • Expand into SAARC region with presence already established in Bangladesh, Sri Lanka, UAE, Cambodia, Kenya, and 57 OEM partners in these geographies(p.239)
- • Leverage government initiatives like Digital India and GI Cloud driving public sector IT adoption across digital infrastructure(p.242)
- • Capitalize on rapid adoption of hybrid cloud solutions in India driven by data sovereignty and new edge solutions like Google Distributed Cloud(p.242)
- • Cross-sell and up-sell opportunities with enterprise customers increasingly adopting multi-OEM solutions; 462 customers purchased from 2+ OEMs in FY2025(p.247)
- • Growing demand for DevSecOps solutions with Indian market projected to grow 29.8% CAGR to $0.50B by 2030(p.252)
- • Migration from infrastructure services to higher-margin application services(p.334)
- • Gross margin expansion through service model transition(p.334)
- • Growth in multiple vertical markets through established presence(p.322)
- • Geographic expansion through overseas operations(p.322)
- • Massive TAM expansion in core focus areas at 23.1% CAGR in India(p.383)
- • Cybersecurity market in India experiencing 19.3% CAGR growth(p.384)
- • Data center infrastructure market projected to grow at 32.1% CAGR(p.384)
- • Information lifecycle management market growing at 14.1% CAGR(p.384)
- • Expansion into newer product categories for revenue diversification(p.384)
- • Geographic expansion with presence in six international locations(p.382)
- • Accelerated growth in data center infrastructure segment with 115% YoY growth(p.404)
- • Domestic market expansion with 19.77% growth in domestic revenue(p.404)
- • Strong cybersecurity segment growth at 7.32% with increasing demand(p.404)
- • Increased employee base in technology domain enabling service expansion(p.406)
Threats
- • OEMs may bypass distribution through direct sales or alternate channels(p.49)
- • OEM financial deterioration impacts supply and market share(p.49)
- • Intense competition from other resellers and VADs(p.52)
- • Enterprise customers may reduce technology spending in economic downturns(p.50)
- • OEM supply chain disruptions from geopolitical and operational risks(p.49)
- • Severe global shortage of IT professionals with specialized skills(p.53)
- • High competition in IT solutions market potentially eroding margins(p.59)
- • Heavy reliance on imports from foreign OEMs with 66% of sales dependent on foreign sourcing(p.57)
- • Risk of unfavorable import regulations and policies in India(p.57)
- • Geographic concentration with 87.54% of revenue from India operations(p.57)
- • Foreign exchange volatility impacting both exports and imports(p.63)
- • Potential product liability claims from defective third-party OEM products(p.58)
- • Vulnerability to broader economic downturns and recession risks(p.74)
- • Intensifying competition in technology solutions and services space(p.170)
- • Rising cybersecurity threats and compliance requirements(p.171)
- • Dependence on OEM partner ecosystem and potential market consolidation(p.139)
- • Increasing cybersecurity threats with India ranked 5th among breached nations in 2023(p.175)
- • High employee attrition rates in Indian technology companies(p.175)
- • Significant shortage of skilled IT professionals globally and in India(p.175)
- • Economic slowdown reducing job opportunities and impacting IT sector growth(p.175)
- • Intense competition from global VADs and technology enablers(p.224)
- • Growing cybercriminal sophistication exploiting advanced technologies like AI and ransomware(p.175)
- • Global cybersecurity market competition from players like Exclusive Networks, Westcon-Comstor, Arrow ECS, Netpolean Solutions and M.Tech(p.261)
- • Intense competition based on price, product availability, delivery speed, sales effectiveness, credit terms and solution breadth(p.261)
- • Shortage of IT professionals with expertise in AI, machine learning, blockchain, IoT and cybersecurity driving wage inflation(p.248)
- • High attrition rates among skilled professionals in Indian technology companies requiring competitive compensation packages(p.248)
- • Potential revenue volatility from changes in proportion of software and allied support sales within gross sales mix(p.242)
- • Regulatory changes in digital personal data protection with DPDP Act penalties extending to ₹2,500 million for non-compliance(p.265)
- • Dependence on OEM and System Integrator partnerships with potential loss or termination risks impacting business continuity(p.247)
- • Customer concentration and revenue dependency(p.323)
- • Foreign exchange volatility impacting overseas operations(p.323)
- • Inventory and product obsolescence risk(p.331)
- • Trade receivables collection risk from extended payment terms(p.338)
- • Regulatory and compliance risk related to government authorities disputes(p.337)
- • Vulnerability to OEM relationship termination or contract modifications(p.383)
- • Supply chain disruptions affecting OEM product availability(p.383)
- • Enterprise customer spending reduction risk from economic downturns(p.383)
- • Foreign exchange exposure from international operations(p.350)
- • Interest rate sensitivity affecting borrowing costs(p.351)
- • Credit risk from concentration in customer base(p.363)
- • Exposure to foreign exchange volatility and currency risk(p.411)
- • Declining exports revenue indicating international market headwinds(p.405)
- • Potential deterioration in credit quality and trade receivable collection(p.400)
- • Interest rate volatility risk from variable rate borrowings(p.411)
- • Intensifying competition in software reseller and IT solutions industry(p.411)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Sunil Kumar Pillai | Promoter | 15.26% | — |
| Krishna Raj Sharma | Promoter | 9.85% | — |
| Srinivasan Sriram | Promoter | 6.39% | — |
| Sunil Kumar Pillai | Promoter | — | — |
| Krishna Raj Sharma | Promoter | — | — |
| Srinivasan Sriram | Promoter | — | — |
| Sundara (Mauritius) Limited | Investor/Promoter Group | 41.10% | [●]% |
| Sunil Kumar Pillai | Promoter | 15.26% | [●] |
| Krishna Raj Sharma | Promoter | 9.85% | [●] |
| Srinivasan Sriram | Promoter | 6.39% | [●] |
| Hilda Sunil Pillai | Promoter Group | 7.54% | [●] |
| Not disclosed in Part 4 | Promoter | — | — |
| Sunil Kumar Pillai | Promoter | — | — |
| Krishna Raj Sharma | Promoter | — | — |
| S. Sriram | Promoter | — | — |
| Sunil Kumar Pillai | Promoter | 15.26% | — |
| Krishna Raj Sharma | Promoter | 9.85% | — |
| Srinivasan Sriram | Promoter | 6.39% | — |
| Sundara Mauritius Ltd | Promoter Group | — | — |
| Sunil Kumar Pillai | Promoter Selling Shareholder | — | — |
| Krishna Raj Sharma | Promoter Selling Shareholder | — | — |
| Srinivasan Sriram | Promoter Selling Shareholder | — | — |
| Hilda Sunil Pillai | Promoter Group Selling Shareholder | — | — |
| Sundara (Mauritius) Limited | Investor Selling Shareholder | 31.21% | — |
| Sunil Kumar Pillai | Selling Shareholder | — | — |
| Krishna Raj Sharma | Selling Shareholder | — | — |
| Srinivasan Sriram | Selling Shareholder | — | — |
| Sundara (Mauritius) Limited | Selling Shareholder | — | — |
| Venkatesh R | Selling Shareholder | — | — |
| Subodh Anchan | Selling Shareholder | — | — |
| Roy Abraham Yohannan | Selling Shareholder | — | — |
| Hilda Sunil Pillai | Selling Shareholder | — | — |
| Brijesh Shrivastava | Selling Shareholder | — | — |
| L Nagabushana Reddy | Selling Shareholder | — | — |
| Ran Vijay Pratap Singh | Selling Shareholder | — | — |
| Ravindra Kumar Sankhla | Selling Shareholder | — | — |
| Venkata Naga Swaroop Muvvala | Selling Shareholder | — | — |
Leadership
Sunil Kumar Pillai · Managing Director
Krishna Raj Sharma · Executive Director
Shrikant Manohar Shitole · CEO
Venkata Naga Swaroop Muvvala · CFO
Lakshmammanni · Company Secretary and Compliance Officer
Auto-extracted from the company's RHP using AI, with each fact linked to its source passage (hover any row to see the quote & page). Provided for research only, not investment advice — verify against the official RHP before relying on it.