Service Care
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 14 Jul 2023 – 18 Jul 2023
- Listing date
- 26 Jul 2023
- Face value
- ₹10 per share
- Issue price
- ₹67 per share
- Lot size
- 2,000 shares
- Issue type
- Book Building issue
- Total issue size
- ₹20.68 Cr
- Market cap at offer price
- ₹77.04 Cr
- Promoter holding
- 100.00% → 73.16% pre-issue → post-issue
- ISIN
- INE0P1Q01015
- Registrar
- Integrated Registry Management Services Pvt.Ltd.
- Lead managers
- Swastika Investmart Ltd.
- Registered office
- No.653, 1st Floor, 2nd Main Road Domlur Layout, Bangalore Urban, 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 |
|---|---|---|---|
| Market maker | 1,56,000 | — | — |
Application size
Minimum 2,000 shares per lot, in multiples, at ₹67
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 2,000 | ₹1,34,000 |
| S-HNI (min) | 2 | 4,000 | ₹2,68,000 |
| S-HNI (max) | 7 | 14,000 | ₹9,38,000 |
| B-HNI (min) | 8 | 16,000 | ₹10,72,000 |
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 (₹) | 1,744.81 | — |
| P/E (×) | 0.04 | — |
| Market cap | — | ₹77.04 Cr |
Key performance indicators
- Return on net worth
- 27.59%
- ROCE
- 25.00%
- Debt / equity
- 0.54
- PAT margin
- 1.52%
- EBITDA margin
- 2.16%
- NAV per share
- ₹6,323.20
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Service Care
Service Care Limited ('SCL'), headquartered in Bangalore, was originally incorporated as Service Care Private Limited on 13th May 2011 under the Companies Act, 1956 and was converted into a public limited company on 18th April 2023. Founded by promoters Mrs. Shany Jalal and Mr. Anil Kumar M in 2011 (Mr. Amit Kumar Rakhecha later joining as promoter/director), the company offers integrated services in the areas of Facility Management and Payroll Management through two verticals: Workspace Administration Services — hard and soft facility management (building maintenance, housekeeping, security, hospitality/catering) plus business administrative services at 200+ client sites — and Workforce Administration Services — hiring, contract staffing, recruitment/RPO and payroll management with statutory compliance. As of 30th April 2023 it had 45 core employees and 5,764 associate employees deployed at client locations across more than 20 Indian states, serving clients in manufacturing, engineering, infrastructure, IT, government & banking, healthcare, education and FMCG; Larsen & Toubro Limited alone contributed 74.89% of revenue for the period ended 31st January 2023. Revenue is earned principally from Manpower Services Contract Receipts (88.42% of revenue from operations for that period). For the period ended 31st January 2023 the company reported revenue from operations of ₹13,208.05 lakhs and profit after tax of ₹302.34 lakhs (FY2021-22: ₹11,495.16 lakhs and ₹174.48 lakhs respectively). Its SME IPO of up to 30,86,000 fresh equity shares (constituting 26.84% of post-issue capital) on the NSE Emerge platform is intended to fund ₹1,500 lakhs of incremental working capital, general corporate purposes and public issue related expenses of approximately ₹307.50 lakhs.
Company Analysis
from RHPService Care Limited is a Bangalore-based provider of integrated Facility Management and Payroll/Workforce Management services in India.
Service Care Limited ('SCL'), headquartered in Bangalore, was originally incorporated as Service Care Private Limited on 13th May 2011 under the Companies Act, 1956 and was converted into a public limited company on 18th April 2023. Founded by promoters Mrs. Shany Jalal and Mr. Anil Kumar M in 2011 (Mr. Amit Kumar Rakhecha later joining as promoter/director), the company offers integrated services in the areas of Facility Management and Payroll Management through two verticals: Workspace Administration Services — hard and soft facility management (building maintenance, housekeeping, security, hospitality/catering) plus business administrative services at 200+ client sites — and Workforce Administration Services — hiring, contract staffing, recruitment/RPO and payroll management with statutory compliance. As of 30th April 2023 it had 45 core employees and 5,764 associate employees deployed at client locations across more than 20 Indian states, serving clients in manufacturing, engineering, infrastructure, IT, government & banking, healthcare, education and FMCG; Larsen & Toubro Limited alone contributed 74.89% of revenue for the period ended 31st January 2023. Revenue is earned principally from Manpower Services Contract Receipts (88.42% of revenue from operations for that period). For the period ended 31st January 2023 the company reported revenue from operations of ₹13,208.05 lakhs and profit after tax of ₹302.34 lakhs (FY2021-22: ₹11,495.16 lakhs and ₹174.48 lakhs respectively). Its SME IPO of up to 30,86,000 fresh equity shares (constituting 26.84% of post-issue capital) on the NSE Emerge platform is intended to fund ₹1,500 lakhs of incremental working capital, general corporate purposes and public issue related expenses of approximately ₹307.50 lakhs.
Objects of the Issue
- To Meet Incremental Working Capital Requirements ₹ 1,500.00 Lakhs p.68
- General Corporate Purpose p.70
- Public Issue Related Expenses ₹ 307.50 Lakhs p.70
Issue Structure
- Total Issue
- Upto 30,86,000 Equity Shares aggregating to ₹ [●] Lakhs
- Fresh Issue
- Upto 30,86,000 Equity Shares aggregating to ₹ [●] Lakhs (entire issue constitutes the fresh issue)
- Offer for Sale
- NIL
- Lot Size
- 2,000 Equity Shares and in multiples of 2,000 Equity Shares thereafter
- Face Value
- ₹ 10/- each
Business Model
The company earns revenue by deploying its associate (contract) employees and service teams at client premises and billing clients under service contracts. Its dominant stream is Manpower Services Contract Receipts (88.42% of revenue from operations for the period ended 31st January 2023), followed by facility-management Service Contract Receipts (10.26%), Cafeteria Sales (0.88%), Consultancy Service Receipts (0.40%) and One Time Placement Receipts (0.05%).
Business Segments
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Mrs. Shany Jalal | Promoter; Chairman and Managing Director | 60.00% | 43.89% |
| Mr. Anil Kumar M | Promoter; Executive Director | 20.00% | 14.63% |
| Mr. Amit Kumar Rakhecha | Promoter; Executive Director and Chief Financial Officer | 20.00% | 14.63% |
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.