Optivalue Tek Consulting
Book Building issueSMENSE₹51.82 Cr issue
+23.33%
Listing gain over issue price
Issue size
₹51.82 Cr
1 lot at cut-off
₹1,34,400
Lot size
1,600shares
Open
02 Sep 2025
Close
04 Sep 2025
Allotment
08 Sep 2025
Listing
10 Sep 2025
Listing performance
Issue price
₹84
Listed at
₹103.60
Listing-day close
₹102.60
Latest price
₹193
Close on 23 Oct 2026
Listing gain
+23.33%
Return since issue
+129.76%
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 02 Sep 2025 – 04 Sep 2025
- Listing date
- 10 Sep 2025
- Face value
- ₹10 per share
- Issue price
- ₹84 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Listing at
- NSE
- Total issue size
- ₹51.82 Cr
- Market cap at offer price
- ₹197 Cr
- Promoter holding
- 87.00% → 64.07% pre-issue → post-issue
- ISIN
- INE15B101011
- Registrar
- Cameo Corporate Services Ltd.
- Lead managers
- Share India Capital Services Pvt.Ltd.
- Registered office
- Khasra No.2/2 and 2/1, Chhattarpur Main Road, Near Sai Baba Mandir, Sawan Public School, New Delhi
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 | 17,36,000 | — | — |
| Market maker | 3,13,600 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹84
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,34,400 |
| S-HNI (min) | 2 | 3,200 | ₹2,68,800 |
| S-HNI (max) | 7 | 11,200 | ₹9,40,800 |
| B-HNI (min) | 8 | 12,800 | ₹10,75,200 |
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
17,36,000
Anchor portion
₹14.58 Cr
at ₹84 per share
Valuation and performance
Valuation at offer price
₹84 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 7.04 | 5.19 |
| P/E (×) | 11.93 | 16.18 |
| Price to book (×) | 10.36 | — |
| Market cap | — | ₹197 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 38.09%
- ROCE
- 50.26%
- Debt / equity
- 0.17
- EBITDA margin
- 29.81%
- NAV per share
- ₹8.11
- Price to book
- 10.36
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Optivalue Tek Consulting
Optivalue Tek Consulting Limited was incorporated on June 27, 2011, and converted to a public limited company on September 16, 2024. The company started operations over a decade ago by providing managed services to leading telecom companies in India and internationally, implementing telecom OSS/BSS applications and application & process integration. The company has evolved to offer a comprehensive range of IT solutions spanning enterprise application integration, API management, core banking applications, cloud solutions, DevOps/SRE, and data engineering & science. As of March 31, 2025, the company has 70 full-time employees and approximately 70-80 contractual employees. The company operates on a work order and project-specific engagement basis with a global presence spanning retail, telecom, banking, high tech, and energy industries.
Company Analysis
from RHPOptivalue Tek Consulting Limited provides managed services and IT solutions including enterprise application integration, API management, core banking applications, cloud solutions, DevOps/SRE, and data engineering & science services to telecom, retail, banking, high tech, and energy sectors.
Optivalue Tek Consulting Limited was incorporated on June 27, 2011, and converted to a public limited company on September 16, 2024. The company started operations over a decade ago by providing managed services to leading telecom companies in India and internationally, implementing telecom OSS/BSS applications and application & process integration. The company has evolved to offer a comprehensive range of IT solutions spanning enterprise application integration, API management, core banking applications, cloud solutions, DevOps/SRE, and data engineering & science. As of March 31, 2025, the company has 70 full-time employees and approximately 70-80 contractual employees. The company operates on a work order and project-specific engagement basis with a global presence spanning retail, telecom, banking, high tech, and energy industries.
Information TechnologyTelecomRetailBankingHigh TechEnergy
Objects of the Issue
- To meet the expenses for development of new products ₹1,277.25 lakhs p.23
- Capital expenditure towards upgrading the existing IT hardware and software for the Company ₹640.59 lakhs p.23
- Expenditure for setup of branch office at Bangalore ₹170.40 lakhs p.23
- To meet the working capital requirements ₹1,752.12 lakhs p.23
- General corporate purposes p.23
- Capital Expenditure - To meet the expenses for development of new products (Drone Analytics and Advanced Technology Solutions) ₹1,277.25 lakhs p.82
- Capital Expenditure - Expenditure for setup of branch office at Bangalore by leasing a co-working space ₹170.40 lakhs p.82
- Capital expenditure towards upgrading the existing IT hardware and software for the Company ₹640.59 lakhs p.82
- Working capital requirements ₹1,752.12 lakhs p.82
- General corporate purposes p.82
- To fund working capital requirements and for general corporate purposes
Issue Structure
- Total Issue
- Up to ₹[●] Lakhs
- Fresh Issue
- Up to 61,69,600 Equity Shares of face value ₹10 each aggregating up to ₹[●] Lakhs
- Offer for Sale
- Nil
- Price Band
- [●] per Equity Share (to be determined)
- Lot Size
- [●] Equity Shares and in multiples thereof
- Face Value
- ₹10 per Equity Share
Business Model
The company generates revenue through IT consulting and managed services on a project and work-order basis. As of March 31, 2025, the top 10 customers contributed 67.84% of total sales, with top 5 accounting for 45.61%. The company operates primarily as a service provider and subcontractor to system integrator clients, executing projects as required. Revenue is derived from enterprise application integration, API management, core banking applications, cloud solutions, DevOps/SRE services, and data engineering & science offerings.
Business Segments
Process of connecting different software systems within a company so they can share data and work together seamlessly
Ensuring smooth communication between different software systems
Developing systems that help banks manage accounts and transactions
Providing internet-based storage and computing services
Improving the development and operation of software to ensure it runs smoothly
Helping businesses handle and analyze data to make better decisions
Provides consultancy services, data processing, data engineering, AI/ML solutions, cloud solutions, and telecommunications services to clients in telecom, banking, infrastructure, and retail sectors on a project-based and time & material basis
Under development: Digital Twin Systems, Synthetic Air Traffic Systems, and Data Analytics Systems for applications in crowd management, predictive maintenance, asset monitoring, and real-time surveillance for railways, defence, and smart city sectors
Facilitates seamless communication across legacy and modern enterprise systems to enhance business processes through data synchronization, reduction of data silos, application adapters, and real-time or batch processing.
Provides Business Support Systems (BSS) for customer management, billing, order management, and revenue management; and Operational Support Systems (OSS) for network management, service provisioning, fault management, and network optimization.
Delivers comprehensive core banking services including implementation of new solutions, migration and modernization of legacy systems, upgrading systems, cloud migration, integrating new services, and improving security and compliance.
Assists clients in building secure, scalable API ecosystems with platforms like Apigee, ensuring governance and lifecycle management while enabling API monetization through revenue streams.
Designs, builds, and manages infrastructure for data collection, cleaning, transformation, storage, and analysis. Includes data pipeline design, big data solutions using Hadoop/Spark/Kafka, predictive analytics, machine learning, and MLOps.
Helps organizations adopt DevOps practices through infrastructure automation and CI/CD pipelines. SRE services ensure high availability and performance of applications through automation, SLOs, incident management, capacity planning, monitoring, and metrics.
Provides cloud strategy and migration guidance for transition from on-premise systems to cloud platforms (AWS, Azure, Google Cloud, OCI), and cloud-native development using containers, microservices, and serverless architecture.
Develops custom applications and cross-platform solutions using modern frameworks for web, mobile, and desktop deployment.
Provides IT consulting and professional services
Sale of products related to company operations
SWOT Analysis
Strengths
- • Established presence in IT services with over a decade of operational history(p.22)
- • Diverse service offerings across Enterprise Application Integration, API Management, Core Banking, Cloud Solutions, DevOps/SRE, and Data Engineering(p.22)
- • Strong experienced management team with combined 25+ years in IT industry(p.31)
- • Demonstrated revenue growth and profitability over recent financial years(p.24)
- • Strong revenue growth and profitability trajectory(p.103)
- • High and improving return on equity and capital efficiency(p.103)
- • Experienced management with successful track record(p.101)
- • Diverse service portfolio(p.101)
- • Strong EBITDA margins and operational efficiency(p.103)
- • Experienced promoters with 25+ years combined industry experience(p.130)
- • Comprehensive, industry-proven solution portfolio across multiple domains(p.130)
- • Domain expertise combined with technical excellence(p.130)
- • Quality service with stringent internal quality control mechanisms(p.130)
- • Latest software technologies with microservices-based development(p.131)
- • CMMI Level 5 certification for IT consulting and software development(p.139)
- • Over a decade of business experience with global presence across multiple industries(p.210)
- • Strong revenue growth of 53.39% year-on-year in FY 2024-25(p.215)
- • High profitability with net profit after tax of ₹1,213.90 lakhs in FY 2024-25(p.217)
- • Strong return on equity of 38.09% in FY 2024-25(p.212)
- • Improved EBITDA margin of 29.81% in FY 2024-25(p.212)
- • Strong ROCE of 50.26% demonstrating efficient capital deployment(p.212)
- • Low debt-to-equity ratio of 0.17 indicating conservative leverage(p.212)
Weaknesses
- • Heavy dependence on a small number of customers with top 10 customers accounting for 67.84% of revenue(p.28)
- • Lack of long-term customer contracts; business operates on work order and project-specific basis(p.28)
- • High employee attrition rate of 54.68% in FY2025, up from prior years(p.37)
- • Negative operating cash flow of ₹400.11 lakhs in FY2025(p.36)
- • Company logo not registered with Registrar of Trademarks(p.31)
- • Failure to comply with CSR obligations for FY 2021-22 with default amount of ₹6.58 lakhs(p.30)
- • Multiple delays in filing statutory forms with ROC, including DPT-3 forms delayed over 1,600 days(p.34)
- • Unregistered charges on car loans under Section 77 of Companies Act, 2013(p.34)
- • Registered office not owned by company; rented on 5-year lease which could be terminated(p.37)
- • Significant outstanding tax litigation with 8 indirect tax proceedings involving ₹273.22 lakhs(p.31)
- • Company has not obtained various insurance policies including property, cyber liability, product liability, and key man insurance(p.38)
- • No independent verification of industry and market data used in prospectus(p.46)
- • Negative operating cash flow in FY 2024-25(p.103)
- • High and increasing working capital requirements(p.95)
- • Extended payment cycles creating cash flow stress(p.97)
- • Limited track record with government sector clients(p.87)
- • No existing orders for proposed new product(p.87)
- • Heavy concentration on top 5 customers at 45.61% of revenue(p.137)
- • Significant loss of international revenue; declining export contribution(p.137)
- • Limited geographic diversification; heavy reliance on Karnataka and Tamil Nadu(p.137)
- • Small, young employee base of only 70 permanent employees with limited tenure diversity(p.118)
- • Absence of unified workspace limiting operational scalability(p.136)
- • Negative operating cash flow of ₹400.11 lakhs in FY 2024-25(p.183)
- • High proportion of unbilled revenue exposure of ₹1,183.99 lakhs(p.196)
- • Concentration risk with substantial portion of trade receivables as current assets(p.195)
- • Current tax liabilities of ₹619.85 lakhs representing significant near-term obligations(p.199)
- • Dependence on consultancy services with consultancy charges representing 38.72% of revenue(p.213)
Opportunities
- • Global IT market growing at 7.7% CAGR from $8.92 trillion in 2024 to projected $13.17 trillion by 2029(p.22)
- • Expansion of branch operations into Bangalore and new sectors with advanced technology solutions(p.35)
- • Development of new products and advanced technology solutions including Digital Twin Systems, Synthetic Air Traffic Systems, and Data Analytics Systems(p.23)
- • Growing market trends including hybrid work environments, cloud computing, AI in business processes, and blockchain technologies(p.22)
- • IT hardware and software infrastructure upgrade to support growth and competitive positioning(p.23)
- • Expansion into high-growth drone analytics and AI-powered solutions(p.84)
- • Large addressable market in Railways and Defence sectors(p.86)
- • Alignment with 'Make in India' and 'Aatmanirbhar Bharat' initiatives(p.87)
- • India's rapid digital transformation and tech adoption(p.113)
- • Growing demand from existing clients exceeding current capacity(p.96)
- • Global IT market expected to grow at 8.2% CAGR through 2029 to $13.17 trillion(p.114)
- • Indian IT industry projected to reach $350 billion by 2026 contributing 10% to GDP(p.116)
- • Rising demand for cloud computing services as key IT sector driver(p.114)
- • IoT connections projected to reach 23.3 billion by 2025, driving IT infrastructure demand(p.114)
- • Expansion into drone analytics to address gap in real-time monitoring solutions(p.131)
- • Data annotation market growing from $250M (FY20) to projected $7B by 2030 due to AI acceleration(p.116)
- • Digitalization initiatives and government support for IT sector creating demand expansion(p.116)
- • Significant growth trajectory with 53.39% revenue growth in FY 2024-25(p.215)
- • Expansion into new revenue streams through introduction of sale of goods(p.215)
- • Growth in professional consultancy revenue to ₹5,127.85 lakhs(p.215)
- • Presence across multiple high-growth industries including Retail, Telecom, Banking, and Energy(p.210)
Threats
- • Intense competition from organized and unorganized players in IT services industry(p.35)
- • Dependence on government and government-funded entities with risk of budget cuts and policy changes(p.28)
- • Significant exposure to foreign currency exchange rate fluctuations with 100% of revenue from international operations(p.41)
- • Risk of technology infrastructure disruptions and cyberattacks affecting service delivery(p.30)
- • Potential for rapid technological obsolescence requiring continuous investment in R&D(p.32)
- • Wage inflation in Indian IT industry reducing competitive advantage and profit margins(p.44)
- • Risk of future regulatory changes and compliance requirements affecting operations(p.42)
- • Vulnerability to data networks attacks and unauthorized access to proprietary information(p.39)
- • Indebtedness of ₹552.71 lakhs exposing company to financial and operational risks(p.36)
- • Risk of inability to sustain historical growth rates due to market conditions and competition(p.34)
- • Global economic uncertainty and volatility impacting growth(p.110)
- • Increased policy uncertainty and geopolitical tensions(p.111)
- • Volatility in Indian financial markets and equity share price(p.48)
- • Dependence on long-duration projects with 4-5 month payment cycles(p.94)
- • Tax changes and regulatory uncertainties affecting profitability(p.49)
- • Highly competitive IT services market from both organized and unorganized players(p.136)
- • Customer concentration risk with top 5 customers representing 45.61% of revenue, limiting stability(p.137)
- • Cyclicality and demand volatility in IT services and related economic sensitivity(p.131)
- • Regulatory and compliance risks including data protection, cybersecurity and sectoral regulations(p.141)
- • Increasing adoption of low-cost open-source alternatives impacting proprietary software monetization(p.114)
- • GST compliance matters with outstanding demands of ₹14,29,856 and pending notices(p.225)
- • Income tax matters with outstanding demands against promoters(p.227)
- • GST return filing delays exposing company to penalties(p.224)
- • Delayed GST return reconciliation and ITC mismatch issues(p.224)
- • Dependency on third-party transportation and logistics(p.211)
- • Market fluctuations and industry dynamics beyond company control(p.212)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Ashish Kumar | Promoter | 43.50% | — |
| Ms. Ragini Jha | Promoter | 43.50% | — |
| Ashish Kumar | Promoter | 43.50% | 32.03% |
| Ragini Jha | Promoter | 43.50% | 32.03% |
| Mr. Ashish Kumar | Promoter/Managing Director | 43.50% | 32.04% |
| Ms. Ragini Jha | Promoter/Whole-Time Director | 43.50% | 32.04% |
| Ashish Kumar | Promoter | 43.50% | — |
| Ragini Jha | Promoter | 43.50% | — |
Leadership
Mr. Ashish Kumar · Managing Director & Promoter
Ms. Ragini Jha · Whole Time Director & Promoter
Mrs. Shraboni Chatterjee · Company Secretary and Compliance Officer
Mr. Sudhir Kumar Sahani · Chief Financial 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.
Optivalue Tek Consulting IPO FAQs
What is the lot size of Optivalue Tek Consulting IPO?
The minimum lot size of Optivalue Tek Consulting IPO is 1,600 shares. One lot costs ₹1,34,400 at the cut-off price.
When does Optivalue Tek Consulting IPO open and close?
Optivalue Tek Consulting IPO opened for subscription on 02 Sep 2025 and closed on 04 Sep 2025.
What is the listing date of Optivalue Tek Consulting IPO?
Optivalue Tek Consulting IPO listed on 10 Sep 2025.