Plada Infotech Services
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 29 Sep 2023 – 05 Oct 2023
- Listing date
- 13 Oct 2023
- Face value
- ₹10 per share
- Issue price
- ₹48 per share
- Lot size
- 3,000 shares
- Issue type
- Fixed Price issue
- Total issue size
- ₹12.36 Cr
- Market cap at offer price
- ₹41.16 Cr
- Promoter holding
- 89.50% → 62.64% pre-issue → post-issue
- ISIN
- INE0PXD01014
- Registrar
- Bigshare Services Pvt.Ltd.
- Lead managers
- Indorient Financial Services Ltd.
- Registered office
- Santosh A.Mishra Compound, Mograpada, Mogra Village, off.Old Nagardas Road, Andheri (East), Maharashtra
Reservation and application size
How the issue is split between investor categories, and what each may bid
| Investor category | Shares | % of net | % of total |
|---|---|---|---|
| Market maker | 1,29,000 | — | — |
Application size
Minimum 3,000 shares per lot, in multiples, at ₹48
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 3,000 | ₹1,44,000 |
| S-HNI (min) | 2 | 6,000 | ₹2,88,000 |
| S-HNI (max) | 6 | 18,000 | ₹8,64,000 |
| B-HNI (min) | 7 | 21,000 | ₹10,08,000 |
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.
Valuation and performance
Valuation at offer price
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 3.90 | — |
| P/E (×) | 12.31 | — |
| Market cap | — | ₹41.16 Cr |
Key performance indicators
- Return on net worth
- 31.07%
- ROCE
- 21.00%
- Debt / equity
- 2.20
- PAT margin
- 3.76%
- NAV per share
- ₹12.55
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Plada Infotech Services
Plada Infotech Services Limited was incorporated on October 23, 2010 as Plada Infotech Services Private Limited in Mumbai and converted into a public limited company pursuant to a fresh certificate of incorporation dated May 11, 2023. The company delivers end-to-end BPO services — merchant acquisition, field support, account management, recruitment and payroll management, business correspondence, e-commerce solutions and technology development — primarily to banks, financial institutions and payment aggregators. It operates pan-India through 12 offices in 12 cities (with other cities serviced remotely) and had 1,519 employees as of March 31, 2023. Revenue is earned under service contracts with clients; its top five enterprise customers contributed 88% of revenue from operations in FY23. Restated consolidated revenue from operations was ₹6,216.96 lakhs in FY23 (₹4,877.85 lakhs in FY22; ₹4,454.70 lakhs in FY21) with profit after tax of ₹233.82 lakhs (₹109.87 lakhs; ₹66.71 lakhs). The company holds 99% of subsidiary Uphaar Cards Private Limited and is developing software products (PRUF, KUNDALI, Merchant Loyalty) that it intends to monetise via transaction fees and a SaaS model. Promoters Shailesh Kumar Damani (Chairman & MD) and Anil Mahendra Kotak (WTD & CFO) held 89.51% of the pre-issue capital.
Company Analysis
from RHPPlada Infotech Services Limited is a business process outsourcing (BPO) services provider serving banks, financial institutions and payment aggregators across India, spanning merchant acquisition, field support, account management, recruitment and payroll management, business correspondence, e-commerce and software/technology solutions.
Plada Infotech Services Limited was incorporated on October 23, 2010 as Plada Infotech Services Private Limited in Mumbai and converted into a public limited company pursuant to a fresh certificate of incorporation dated May 11, 2023. The company delivers end-to-end BPO services — merchant acquisition, field support, account management, recruitment and payroll management, business correspondence, e-commerce solutions and technology development — primarily to banks, financial institutions and payment aggregators. It operates pan-India through 12 offices in 12 cities (with other cities serviced remotely) and had 1,519 employees as of March 31, 2023. Revenue is earned under service contracts with clients; its top five enterprise customers contributed 88% of revenue from operations in FY23. Restated consolidated revenue from operations was ₹6,216.96 lakhs in FY23 (₹4,877.85 lakhs in FY22; ₹4,454.70 lakhs in FY21) with profit after tax of ₹233.82 lakhs (₹109.87 lakhs; ₹66.71 lakhs). The company holds 99% of subsidiary Uphaar Cards Private Limited and is developing software products (PRUF, KUNDALI, Merchant Loyalty) that it intends to monetise via transaction fees and a SaaS model. Promoters Shailesh Kumar Damani (Chairman & MD) and Anil Mahendra Kotak (WTD & CFO) held 89.51% of the pre-issue capital.
Objects of the Issue
- Funding working capital requirements ₹289.00 Lakhs p.86
- Purchase of Laptops and Accessories for IT Development ₹30.00 Lakhs p.91
- Repayment and/or prepayment, in part or in full, of certain outstanding loans ₹300.00 Lakhs p.93
- General corporate expenses / general corporate purposes ₹296.52 Lakhs p.98
- Issue related expenses ₹320.00 Lakhs p.98
Issue Structure
- Total Issue
- 25,74,000 Equity Shares at ₹48 per Equity Share aggregating ₹1,235.52 Lakhs (of which 1,29,000 Equity Shares aggregating ₹61.92 Lakhs reserved for the Market Maker; Net Issue of 24,45,000 Equity Shares aggregating ₹1,173.60 Lakhs)
- Fresh Issue
- 25,74,000 Equity Shares at ₹48 per Equity Share aggregating ₹1,235.52 Lakhs (the entire issue constitutes a fresh issue)
- Offer for Sale
- Nil
- Price Band
- Not applicable — 100% Fixed Price Issue at ₹48/- per Equity Share
- Lot Size
- 3,000 Equity Shares (stated as the current minimum trading lot size on NSE EMERGE)
- Face Value
- ₹10/- each
Business Model
The company earns service revenue under contracts with banks, financial institutions and payment aggregators for outsourced operations — merchant acquisition, field support, account management, and recruitment & payroll management — delivered through its own workforce (employee benefit expenses were ₹4,538.22 lakhs in FY23, reflecting a manpower-intensive model). Pricing is quoted case-to-case and it enters into multi-year client contracts (top-10 contracts span 1–6 years). Its software products are intended to be monetised going forward — PRUF via transaction fees and KUNDALI/Merchant Loyalty via a SaaS model — though software solutions, business correspondent and e-commerce verticals currently generate nil or negligible revenue.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Shailesh Kumar Damani | Promoter | 84.51% | 59.14% |
| Anil Mahendra Kotak | Promoter | 5.00% | 3.50% |
Leadership
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.