Quadpro ITES SME
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 20 Sep 2021 – 22 Sep 2021
- Listing date
- 30 Sep 2021
- Face value
- ₹2 per share
- Issue price
- ₹20 per share
- Lot size
- 6,000 shares
- Total issue size
- ₹14.10 Cr
- Market cap at offer price
- ₹50.55 Cr
- Promoter holding
- 100.00% → 72.11% pre-issue → post-issue
- ISIN
- INE0GOJ01027
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Beeline Broking Ltd.
- Registered office
- No.17, 3rd Cross, Lalbagh Road, 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 | 0 | — | — |
| Market maker | 3,54,000 | — | — |
Application size
Minimum 6,000 shares per lot, in multiples, at ₹20
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 6,000 | ₹1,20,000 |
| S-HNI (min) | 2 | 12,000 | ₹2,40,000 |
| S-HNI (max) | 8 | 48,000 | ₹9,60,000 |
| B-HNI (min) | 9 | 54,000 | ₹10,80,000 |
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
| Metric | Pre-issue | Post-issue |
|---|---|---|
| Market cap | — | ₹50.55 Cr |
About Quadpro ITES SME
Quadpro ITES Limited (formerly Quadpro E Services Private Limited) was incorporated on November 3, 2010 and converted to a public limited company in April 2021. The company provides a comprehensive range of IT and ITeS services including Cash Management Services (CMS), Cheque Truncation System (CTS) processing, door-step banking services, software development, NACH mandate processing, digital and biometric KYC services, contact centre services, database management, document management, and skilled/unskilled manpower resources. Headquartered in Bangalore with a pan-India presence across major cities, the company serves leading banks, financial institutions, telecom companies, and NBFCs. In March 2021, Airan Limited (listed on NSE) acquired a 75.90% stake in the company, making it part of the Airan group of IT and ITeS service providers with over 30 years of combined experience in the banking and financial services outsourcing industry.
Company Analysis
from RHPQuadpro ITES Limited is an India-focused provider of Information Technology (IT), Information Technology Enabled Services (ITeS), Banking Transaction Processing Services including Cash Management Services and Cheque Truncation System, Document Management Services, and Software Development Services to banking, financial services, telecommunications and non-banking financial companies.
Quadpro ITES Limited (formerly Quadpro E Services Private Limited) was incorporated on November 3, 2010 and converted to a public limited company in April 2021. The company provides a comprehensive range of IT and ITeS services including Cash Management Services (CMS), Cheque Truncation System (CTS) processing, door-step banking services, software development, NACH mandate processing, digital and biometric KYC services, contact centre services, database management, document management, and skilled/unskilled manpower resources. Headquartered in Bangalore with a pan-India presence across major cities, the company serves leading banks, financial institutions, telecom companies, and NBFCs. In March 2021, Airan Limited (listed on NSE) acquired a 75.90% stake in the company, making it part of the Airan group of IT and ITeS service providers with over 30 years of combined experience in the banking and financial services outsourcing industry.
Objects of the Issue
- To Meet Capital Expenditure Requirements 330.00 Lakhs p.55
- Acquisitions and Other Strategic Initiatives 620.00 Lakhs p.55
- For General Corporate Purposes 310.00 Lakhs p.55
Issue Structure
- Total Issue
- ₹1410.00 Lakhs
- Fresh Issue
- ₹1260.00 Lakhs (63,00,000 Equity Shares of face value ₹2 each at ₹20 per share)
- Offer for Sale
- ₹150.00 Lakhs (7,50,000 Equity Shares of face value ₹2 each at ₹20 per share by Promoter Selling Shareholder - Mr. Nandira Biddappa Thimmaiah)
- Price Band
- Fixed price of ₹20 per Equity Share (including share premium of ₹18)
- Lot Size
- Not explicitly stated in standard format
- Face Value
- ₹2 per Equity Share
Business Model
The company generates revenue through fee-based service contracts with banking and financial institutions, including Cash Management Services, Cheque Truncation System processing, Know Your Customer (KYC) services, document management, software development, and IT/ITeS hardware supply. The company operates a network-based delivery model with branch offices across India and utilizes both in-house resources and field staff for service delivery.
Business Segments
SWOT Analysis
- • 11 years of operational experience with established banking relationships(p.88)
- • Part of established promoter group with 25+ years sector experience(p.88)
- • In-house proprietary software development and control(p.88)
- • Pan-India branch network and multi-city processing centers(p.88)
- • ISO 9001:2015 and ISO 27001:2013 certifications with GDPR compliance(p.88)
- • Long-standing client relationships with repeat business(p.93)
- • High dependence on top 10 customers representing majority of revenue(p.17)
- • Logo not registered limiting IP protection(p.15)
- • No ownership of registered office premises; lease-dependent(p.15)
- • Fixed service charges with long client review cycles(p.89)
- • Recent acquisition by parent company; integration risks(p.76)
- • Digital India initiative driving shift from physical to electronic processes(p.89)
- • Growing banking and fintech sector expansion(p.89)
- • India's IT industry expected to grow to 10% of GDP by 2025(p.72)
- • Expansion through parent company Airan's established client base(p.88)
- • High competition from organized and regional competitors(p.93)
- • Banking sector clients may develop in-house systems, discontinuing outsourced services(p.18)
- • Operational risks from cash/cheque handling and employee fraud(p.18)
- • Increasing recurring costs and pressure on profitability(p.89)
- • Loss of key personnel affecting business operations(p.17)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Airan Limited | Promoter | 0% | 75.90% |
| Mr. Nandira Biddappa Thimmaiah | Promoter | 12.21% | 6.20% |
| Mr. Sandeepkumar Vishwanath Agrawal | Promoter | 3.76% | 2.82% |
| Mr. Abhishek Sandeepkumar Agrawal | Promoter | 3.56% | 2.67% |
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.