ROX Hi-Tech
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 07 Nov 2023 – 09 Nov 2023
- Listing date
- 16 Nov 2023
- Face value
- ₹10 per share
- Issue price
- ₹83 per share
- Lot size
- 1,600 shares
- Issue type
- Book Building issue
- Total issue size
- ₹54.49 Cr
- Market cap at offer price
- ₹190 Cr
- Promoter holding
- 83.29% → 58.94% pre-issue → post-issue
- ISIN
- INE0PDJ01013
- Registrar
- Purva Sharegistry (India) Pvt.Ltd.
- Lead managers
- Swaraj shares & securities Pvt.Ltd.
- Registered office
- Old No.101B, New No.160, 1st & 3rd Floor Mahalingapuram Main Road, Nungambakkam, Tamil Nadu
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 | 15,76,000 | — | — |
| Market maker | 8,48,000 | — | — |
Application size
Minimum 1,600 shares per lot, in multiples, at ₹83
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 1,600 | ₹1,32,800 |
| S-HNI (min) | 2 | 3,200 | ₹2,65,600 |
| S-HNI (max) | 7 | 11,200 | ₹9,29,600 |
| B-HNI (min) | 8 | 12,800 | ₹10,62,400 |
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 |
|---|---|---|
| EPS (₹) | 9.11 | — |
| P/E (×) | 9.11 | — |
| Market cap | — | ₹190 Cr |
Key performance indicators
- Return on net worth
- 63.48%
- ROCE
- 50.17%
- Debt / equity
- 0.94
- PAT margin
- 11.50%
- NAV per share
- ₹14.36
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About ROX Hi-Tech
ROX Hi-Tech Limited, headquartered in Chennai, Tamil Nadu, is a customer-centric IT solutions provider with over 22 years of industry experience. It was incorporated on March 13, 2002 as 'ROX Trading and Systems Private Limited', renamed 'ROX Hi-Tech Private Limited' in April 2023, and converted into a public limited company as 'ROX Hi-Tech Limited' in May 2023. Having evolved from an IBM Business Partner into a prominent player in the IT segment, the company acts as a system integrator offering consulting, enterprise and end-user computing, managed print and network services, organised into six offering lines: Digital Transformation Solutions (software services, AI, RPA & ML), Network and Collaboration, IT and OT Security, Data Centre Solutions (on-premises and cloud), IoT/SMART/MEDIA, and Smart Edge Devices. It implements these solutions using the equipment and software of OEM partners with whom it holds preferred-partner accreditations — SAP (Gold Partner), Cisco (Premier Partner), IBM (Platinum Partner), Google (Cloud/Workspace Partner) and Lenovo (Platinum Partner). Its clientele spans higher education and research, space and defence, IT/ITeS and other industries, with marquee customers including Micron, Vestas, BHEL, CAMS, Murugappa Group, VIT, Nippon Paints and Larsen & Toubro. The company earns revenue from sales of IT equipment/hardware and related implementation and service income booked against client purchase orders; revenue from operations grew from ₹6,407.18 lakhs in FY2021 to ₹13,332.79 lakhs in FY2023, with profit after tax of ₹1,532.97 lakhs in FY2023. It employed about 110 people as of July 31, 2023 and operates from its Chennai registered office and branch offices in Bangalore and Hyderabad.
Company Analysis
from RHPROX Hi-Tech Limited is a Chennai-based customer-centric IT solutions provider and system integrator that delivers end-to-end distributed IT solutions — spanning digital transformation (software, AI, RPA & ML), networking, IT/OT security, data centres, IoT and smart edge devices — to clients across education, defence, IT/ITeS, manufacturing, BFSI and government sectors.
ROX Hi-Tech Limited, headquartered in Chennai, Tamil Nadu, is a customer-centric IT solutions provider with over 22 years of industry experience. It was incorporated on March 13, 2002 as 'ROX Trading and Systems Private Limited', renamed 'ROX Hi-Tech Private Limited' in April 2023, and converted into a public limited company as 'ROX Hi-Tech Limited' in May 2023. Having evolved from an IBM Business Partner into a prominent player in the IT segment, the company acts as a system integrator offering consulting, enterprise and end-user computing, managed print and network services, organised into six offering lines: Digital Transformation Solutions (software services, AI, RPA & ML), Network and Collaboration, IT and OT Security, Data Centre Solutions (on-premises and cloud), IoT/SMART/MEDIA, and Smart Edge Devices. It implements these solutions using the equipment and software of OEM partners with whom it holds preferred-partner accreditations — SAP (Gold Partner), Cisco (Premier Partner), IBM (Platinum Partner), Google (Cloud/Workspace Partner) and Lenovo (Platinum Partner). Its clientele spans higher education and research, space and defence, IT/ITeS and other industries, with marquee customers including Micron, Vestas, BHEL, CAMS, Murugappa Group, VIT, Nippon Paints and Larsen & Toubro. The company earns revenue from sales of IT equipment/hardware and related implementation and service income booked against client purchase orders; revenue from operations grew from ₹6,407.18 lakhs in FY2021 to ₹13,332.79 lakhs in FY2023, with profit after tax of ₹1,532.97 lakhs in FY2023. It employed about 110 people as of July 31, 2023 and operates from its Chennai registered office and branch offices in Bangalore and Hyderabad.
Objects of the Issue
- Funding capital expenditure — setting up a Network Operations Centre (NOC) & Security Operations Centre (SOC) at Chennai ₹773.81 Lakhs p.76
- Funding capital expenditure — setting up a Chennai Medical Automation Centre ₹912.80 Lakhs p.76
- Funding capital expenditure — setting up a Global Software Delivery Center at Noida ₹514.13 Lakhs p.76
- Funding working capital requirements ₹1,500.00 Lakhs p.80
- General Corporate Expenses ₹ [●] Lakhs (not exceeding 25% of the Gross Proceeds of the Issue) p.75
Issue Structure
- Total Issue
- 65,64,800 Equity Shares aggregating to ₹ [•] Lakhs
- Fresh Issue
- 60,17,600 Equity Shares aggregating to ₹ [•] Lakhs
- Offer for Sale
- 5,47,200 Equity Shares aggregating to ₹ [•] Lakhs (by Selling Shareholders Sukanya Rakesh — 2,73,600 shares — and Janet Rekha — 2,73,600 shares)
- Lot Size
- 1,600 Equity Shares and in multiples of 1,600 Equity Shares thereafter
- Face Value
- ₹10 per Equity Share
Business Model
The Company earns 'revenue from operations' defined as 'revenue from sales, service and other operating revenues'. As a system integrator and preferred partner of leading IT equipment manufacturers (SAP, Cisco, IBM, Google, Lenovo), it acquires clients through referrals, B2B outreach, customer events, digital marketing and webinars; following requirement gathering and proof-of-concept, it submits a Solution Proposition Document containing the Bill of Materials (BOM), Scope of Work (SOW) with deployment architecture and Service Level Agreement (SLA), and upon receipt of a client purchase order implements end-to-end IT solutions using the OEM partners' equipment, hardware and software — earning margins on equipment supply together with implementation, integration and ongoing support/service income.
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Jim Rakesh | Promoter | 61.24% | 45.11% |
| Sukanya Rakesh | Promoter | 15.09% | 11.12% |
| Janet Rekha | Promoter Group / Selling Shareholder | 6.96% | — |
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.