Praruh Technologies
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Grey market premium
Unofficial and indicative — not a forecast
3 observations recorded — too few to plot a trend.
Day-wise premium · 3 observations
| Date | GMP | % | Sauda | Est. listing | Gain / lot |
|---|---|---|---|---|---|
| 01 Oct 2025 | ₹0 | 0.00% | ₹0 | ₹63 | ₹0 |
| 30 Sept 2025 | ₹0 | 0.00% | ₹0 | ₹63 | ₹0 |
| 29 Sept 2025 | ₹0 | 0.00% | ₹0 | ₹63 | ₹0 |
Gain per lot assumes the premium holds to listing and that the application is allotted — allotment in an oversubscribed issue is a lottery, so it is indicative, not expected. Sauda is the rate paid for a submitted application itself.
Issue details
- IPO date
- 24 Sept 2025 – 26 Sept 2025
- Listing date
- 01 Oct 2025
- Face value
- ₹1 per share
- Issue price
- ₹63 per share
- Lot size
- 2,000 shares
- Issue type
- Book Building issue
- Listing at
- BSE
- Total issue size
- ₹23.5 Cr
- Market cap at offer price
- ₹87.76 Cr
- Promoter holding
- 100.00% → 73.66% pre-issue → post-issue
- ISIN
- INE0TI501017
- Registrar
- Maashitla Securities Pvt.Ltd.
- Lead managers
- Corporate Makers Capital Ltd.
- Registered office
- A-58, Sector-6, NOIDA, Gautam Budh Nagar, Uttar Pradesh
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 | 10,62,000 | — | — |
| Market maker | 1,88,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹63
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,26,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,52,000 |
| S-HNI (max) | 7 | 14,000 | ₹8,82,000 |
| B-HNI (min) | 8 | 16,000 | ₹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.
Anchor investors
Institutional allocation placed a day before the issue opens, carved out of the QIB portion and locked in after listing.
Valuation and performance
Valuation at offer price
₹63 per share
| Metric | Pre-issue | Post-issue |
|---|---|---|
| EPS (₹) | 6.65 | 4.87 |
| P/E (×) | 9.47 | 12.94 |
| Price to book (×) | 3.55 | — |
| Market cap | — | ₹87.76 Cr |
Key performance indicators
Latest reported period
- Return on net worth
- 46.08%
- ROCE
- 53.62%
- Debt / equity
- 0.94
- PAT margin
- 10.96%
- EBITDA margin
- 16.92%
- NAV per share
- ₹17.76
- Price to book
- 3.55
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Praruh Technologies
Praruh Technologies Limited was incorporated as a Private Limited Company on November 15, 2019, and converted to a Public Limited Company in June 2024. The company is engaged in providing IT Solutions, Customized software solutions, system integration and other allied activities. It operates in the Information Technology and Information Technology Services (IT/ITES) industry, which plays a key role in India's economic development. The company has demonstrated revenue growth from ₹2,796.70 lakhs in FY 2023 to ₹6,188.60 lakhs in FY 2025, with a corresponding profit after tax of ₹678.50 lakhs in FY 2025. The company is registered on the Government e-Marketplace portal and actively engages in tender processes, with significant concentration in public sector work.
Company Analysis
from RHPPraruh Technologies Limited provides IT solutions, customized software solutions, and system integration services primarily to public sector entities in India.
Praruh Technologies Limited was incorporated as a Private Limited Company on November 15, 2019, and converted to a Public Limited Company in June 2024. The company is engaged in providing IT Solutions, Customized software solutions, system integration and other allied activities. It operates in the Information Technology and Information Technology Services (IT/ITES) industry, which plays a key role in India's economic development. The company has demonstrated revenue growth from ₹2,796.70 lakhs in FY 2023 to ₹6,188.60 lakhs in FY 2025, with a corresponding profit after tax of ₹678.50 lakhs in FY 2025. The company is registered on the Government e-Marketplace portal and actively engages in tender processes, with significant concentration in public sector work.
Objects of the Issue
- Repayment of Borrowings ₹633.00 Lakhs p.24
- Unidentified acquisitions in India ₹100.00 Lakhs p.24
- Funding of Working Capital Requirement of the company ₹1,100.00 Lakhs p.24
- General Corporate Purpose p.24
- Repayment of Certain Borrowings ₹633.00 lakhs p.78
- Unidentified Acquisitions in India ₹100.00 lakhs p.79
- Funding of Working Capital Requirement of the company ₹1,100.00 lakhs p.80
- General Corporate Purposes p.81
- Repayment of borrowings
- General corporate purposes
- Not explicitly stated in this part of the document
Issue Structure
- Total Issue
- ₹[●] Lakhs
- Fresh Issue
- Upto 37,30,000 Equity Shares aggregating to ₹[●] Lakhs
- Offer for Sale
- Nil
- Price Band
- ₹[●] to ₹[●] per Equity Share
- Lot Size
- [●]
- Face Value
- ₹10/- each
Business Model
The company earns revenue primarily through providing IT solutions, customized software solutions, and system integration services. It participates in competitive bidding processes for various projects, predominantly with Government-owned and public sector entities. The company generates revenue through project-based engagements and service delivery contracts.
Business Segments
SWOT Analysis
- • Diversified range of services offered(p.85)
- • Strong client base(p.85)
- • Experienced management team(p.85)
- • Quality assurance capabilities(p.85)
- • Cost competitiveness and timely delivery(p.85)
- • Established track record with successful IT project delivery(p.126)
- • Quality assurance integral to operations(p.126)
- • Diverse clientele reducing dependency on single customer(p.126)
- • Experienced management team with deep technical expertise(p.127)
- • Ability to deliver customized IT solutions(p.127)
- • Strong revenue growth trajectory(p.122)
- • Experienced promoter team with 18+ years of business expertise(p.168)
- • Strong revenue growth trajectory with 30% CAGR over 3 years(p.201)
- • Robust EBITDA growth with 51% CAGR over 3 years(p.201)
- • Strong profitability with net profit margins of approximately 11%(p.201)
- • Positive net worth and improving capital position(p.201)
- • ISO 9001:2015 and ISO 27001:2013 certifications demonstrating quality standards(p.219)
- • High customer concentration risk(p.28)
- • Dependence on third-party suppliers without firm commitments(p.29)
- • Material tax proceedings and assessments(p.30)
- • Secured lender charges on assets and properties(p.30)
- • Significant increase in debt obligations(p.30)
- • Non-compliance with regulatory filings and charge creation(p.30)
- • Outstanding litigation against the company(p.31)
- • Negative cash flows from investing activities(p.32)
- • High dependence on government customer orders(p.81)
- • Significant working capital requirement with high trade receivables(p.81)
- • High financial leverage with substantial short-term borrowings(p.49)
- • Low cash reserves relative to operations(p.49)
- • Extreme customer concentration risk(p.123)
- • High supplier concentration(p.124)
- • Limited operating history since 2019(p.146)
- • Weak liquidity position(p.122)
- • High dependence on related party transactions and outsourced operations(p.213)
- • Significant debt burden with leverage ratio of 0.94(p.222)
- • Heavy reliance on bank overdraft facility(p.183)
- • Concentration of receivables with aging beyond one year(p.192)
- • Excess managerial remuneration exceeding statutory limits(p.195)
- • Growth in emerging IT technologies and digital transformation(p.22)
- • Large-scale employment generation and export revenue potential(p.22)
- • India's IT industry contribution to GDP and services exports(p.22)
- • Global transitions creating IT investment opportunities(p.23)
- • Growing government infrastructure spending and investment(p.101)
- • India's strong GDP growth trajectory(p.96)
- • Rising private investment and manufacturing expansion(p.101)
- • Increasing urbanization and per capita disposable income(p.104)
- • Unidentified acquisition opportunities to scale business(p.79)
- • Rising demand for emerging technologies in IT services(p.108)
- • Cloud and SaaS solutions growing market demand(p.115)
- • 5G technology expansion creating infrastructure opportunities(p.115)
- • Strong Indian IT industry growth with positive government support(p.108)
- • India positioned as global IT services hub(p.110)
- • Market diversification beyond traditional markets(p.111)
- • Growth in IT services and system integration industry demand(p.201)
- • Expansion of service offerings through consulting-led approach(p.201)
- • Growing market for data center consolidation and infrastructure solutions(p.201)
- • Expansion to both private and public sector markets(p.201)
- • Dependence on public sector tender awards and bidding uncertainty(p.29)
- • Competitive bidding pressure and price competitiveness(p.29)
- • Industry slowdown and recession impact on IT spending(p.23)
- • Technology obsolescence risk(p.33)
- • Intense competition from large global firms and onshore providers(p.38)
- • Global economic and geopolitical instability(p.43)
- • Cyclicality and macroeconomic sensitivity of IT spending(p.43)
- • COVID-19 pandemic and communicable disease outbreak risk(p.44)
- • Regulatory and tax law changes impacting operations(p.45)
- • Natural calamities affecting Indian economy(p.45)
- • Foreign investment regulations limiting capital flows(p.46)
- • Political instability and policy uncertainty(p.46)
- • Food inflation and deficient rainfall impacting rural demand(p.101)
- • Global IT industry slowdown affecting growth(p.108)
- • Macroeconomic headwinds reducing client spending(p.108)
- • BFSI sector deceleration impacting key vertical(p.112)
- • Intense industry competition(p.135)
- • Cybersecurity threats to IT infrastructure(p.115)
- • Tech talent shortage limiting expansion(p.115)
- • Pending income tax reassessment with substantial demand of ₹234.48 Lakhs(p.212)
- • GST Show Cause Notice for alleged bogus input tax credit claims totaling ₹367.20 Lakhs(p.215)
- • Intense competition in IT services and system integration market(p.208)
- • Dependence on third-party suppliers for raw materials and services(p.202)
- • Vulnerability to economic and policy changes affecting IT industry(p.202)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mr. Vishal Prakash | Promoter | 50.00% | 36.61% |
| Mr. Amar Deep Sharma | Promoter | 24.99% | 18.52% |
| Mr. Rahul Sharma | Promoter | 24.99% | 18.52% |
| Vishal Prakash | Promoter | 49.999% | 36.61% |
| Amardeep Sharma | Promoter | 24.9995% | 18.52% |
| Rahul Sharma | Promoter | 24.9995% | 18.52% |
| Pariza Chaturvedi | Promoter Group | 0.0005% | 0.0003% |
| Nilam Pandey | Promoter Group | 0.0005% | 0.0003% |
| Vikash Prakash | Promoter Group | 0.0005% | 0.0003% |
| Vishal Prakash | Promoter & Managing Director | 50.00% | — |
| Amar Deep Sharma | Promoter & Whole Time Director | 24.99% | — |
| Rahul Sharma | Promoter & Whole Time Director | 24.99% | — |
| Vishal Prakash | Promoter | 49.99% | — |
| Amar Deep Sharma | Promoter | 24.99% | — |
| Rahul Sharma | Promoter | 24.99% | — |
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.