Unified Data- Tech Solutions
Listing performance
Scheduled dates
Tentative timetable — a past date is not confirmation the step completed
Issue details
- IPO date
- 22 May 2025 – 26 May 2025
- Listing date
- 29 May 2025
- Face value
- ₹10 per share
- Issue price
- ₹273 per share
- Lot size
- 400 shares
- Listing at
- BSE
- Total issue size
- ₹144 Cr
- Market cap at offer price
- ₹548 Cr
- Promoter holding
- 86.73% → 60.39% pre-issue → post-issue
- ISIN
- INE1ABX01018
- Registrar
- Kfin Technologies Ltd.
- Lead managers
- Hem Securities Ltd.
- Registered office
- 701, 7th Floor, Chintamani Avenue, Village Dindoshi Off Western Express Highway, 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 |
|---|---|---|---|
| Anchor investor · within QIB | 15,06,800 | — | — |
| Market maker | 2,67,600 | — | — |
Application size
Minimum 400 shares per lot, in multiples, at ₹273
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 400 | ₹1,09,200 |
| S-HNI (min) | 2 | 800 | ₹2,18,400 |
| S-HNI (max) | 9 | 3,600 | ₹9,82,800 |
| B-HNI (min) | 10 | 4,000 | ₹10,92,000 |
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 |
|---|---|---|
| EPS (₹) | 12.51 | 17.20 |
| P/E (×) | 21.82 | 15.87 |
| Price to book (×) | 8.56 | — |
| Market cap | — | ₹548 Cr |
Key performance indicators
- Return on net worth
- 39.23%
- ROCE
- 52.55%
- PAT margin
- 9.65%
- EBITDA margin
- 10.70%
- NAV per share
- ₹31.88
- Price to book
- 8.56
Single period as reported. Year-on-year movement is in the financials table below, where every period is published.
About Unified Data- Tech Solutions
Incorporated in 2010, Unified Data-Tech Solutions Limited is a technology-focused system integrator headquartered in Mumbai, Maharashtra. The company provides comprehensive IT solutions encompassing product sales (servers, storage solutions, networking equipment, IDPS) and services (technology advisory, system integration, support). Its customer base spans multiple industries including BFSI (71.10% of FY25 revenue), manufacturing, pharmaceuticals, IT/ITeS, and service sectors. The company generated total income of ₹20,366.27 lakhs in the period ended February 28, 2025, with PAT of ₹3,168.31 lakhs. It operates primarily in Western India with significant presence in Maharashtra (68.12% of FY25 revenue) and maintains long-term relationships with major customers while providing ongoing technical support and system optimization services.
Company Analysis
from RHPUnified Data-Tech Solutions Limited is a technology company specializing in system integration, providing IT infrastructure solutions including servers, storage, networking equipment, and comprehensive IT services to BFSI, manufacturing, pharmaceuticals, and IT sectors.
Incorporated in 2010, Unified Data-Tech Solutions Limited is a technology-focused system integrator headquartered in Mumbai, Maharashtra. The company provides comprehensive IT solutions encompassing product sales (servers, storage solutions, networking equipment, IDPS) and services (technology advisory, system integration, support). Its customer base spans multiple industries including BFSI (71.10% of FY25 revenue), manufacturing, pharmaceuticals, IT/ITeS, and service sectors. The company generated total income of ₹20,366.27 lakhs in the period ended February 28, 2025, with PAT of ₹3,168.31 lakhs. It operates primarily in Western India with significant presence in Maharashtra (68.12% of FY25 revenue) and maintains long-term relationships with major customers while providing ongoing technical support and system optimization services.
Objects of the Issue
- Offer for Sale - The Promoter Selling Shareholder will be entitled to the entire proceeds of the Offer after deducting its portion of the Offer expenses and relevant taxes thereon p.27
- To achieve the benefits of listing the Equity Shares on the Stock Exchanges p.27
- Achieving the benefits of listing the Equity Shares on the Stock Exchanges. The listing will enhance visibility and brand image and provide liquidity to existing shareholders. The company expects the listing to provide a public market for the Equity Shares in India. p.79
- Offer for Sale p.271
Issue Structure
- Total Issue
- Up to 52,92,000 Equity Shares of face value of ₹10 each aggregating to ₹[●] lakhs
- Fresh Issue
- Nil - This is an Offer for Sale only; no fresh issue by the Company
- Offer for Sale
- Up to 52,92,000 Equity Shares by Hiren Rajendra Mehta (Selling Shareholder)
- Price Band
- ₹[●] per Equity Share (Floor Price) to ₹[●] per Equity Share (Cap Price) - to be decided by Company in consultation with BRLM
- Lot Size
- [●] Equity Shares and in multiples of [●] Equity Shares thereafter
- Face Value
- ₹10 per Equity Share
Business Model
The company earns revenue through two primary channels: (1) Sale of IT infrastructure products (servers, storage solutions, networking equipment, IDPS solutions) sourced from OEM suppliers, and (2) Provision of IT services including technology advisory, system integration, implementation, and ongoing support. Revenue is recognized upon delivery of products/services to customers. The company operates on a project-based model with customized solutions tailored to specific customer requirements, sourcing products from a limited supplier base and delivering integrated solutions to end customers.
Business Segments
SWOT Analysis
- • Robust client relationships and diverse client base(p.81)
- • Extensive and reliable delivery network(p.81)
- • Proven track record of financial success(p.81)
- • Established relationships with suppliers(p.81)
- • Seasoned leadership and skilled workforce(p.81)
- • Strong financial metrics with high returns on equity and ROCE(p.83)
- • Strong revenue growth trajectory with CAGR of 67% over three years(p.191)
- • Experienced promoter leadership with combined IT industry tenure of 75 years(p.147)
- • High-quality employee certifications across major technology platforms(p.191)
- • Strong profitability metrics with improved PAT margins(p.196)
- • Zero debt with strong balance sheet and liquidity position(p.200)
- • Multiple industry recognitions and awards from OEM partners(p.191)
- • ISO certifications demonstrating quality and information security standards(p.191)
- • Zero debt structure with nil Debt/Shareholder's fund ratio(p.214)
- • No material regulatory or disciplinary actions against company or promoters(p.214)
- • Clean governance record with no BIFR/IBC proceedings(p.214)
- • Directors free from willful default or fraud designation(p.214)
- • Functional website and demat connectivity established(p.215)
- • Full promoter shareholding in dematerialized form(p.215)
- • Heavy dependence on few key customers for majority of revenues(p.33)
- • No long-term customer commitments or exclusive arrangements(p.33)
- • High dependence on few key suppliers with no long-term contracts(p.34)
- • Registered office is on leave and license agreement, not owned, with renewal risk(p.37)
- • Restated financial statements provided by non-statutory auditor peer reviewer(p.39)
- • Significant exposure to market risks on substantial equity and mutual fund investments(p.39)
- • Conflict of interest with Group Company in similar line of business(p.39)
- • Past regulatory non-compliance regarding vehicle loan CHG-1 filings(p.40)
- • Outstanding contingent liabilities from performance bank guarantees(p.40)
- • Significant outstanding trade receivables and counterparty credit risk(p.40)
- • Limited technical personnel base (only 14 as of Feb 28, 2025)(p.44)
- • Non-execution Directors lack experience on listed company boards(p.39)
- • Major portion of profits derived from non-core activities(p.39)
- • Dependence on statutory compliance and tax penalties affecting financial position(p.45)
- • Promoter control limiting minority shareholder interests(p.45)
- • Key personnel dependence on promoter with vested interest in dividend entitlement(p.46)
- • Limited trading history and no public market liquidity established(p.45)
- • Resource strain from becoming a publicly listed company(p.46)
- • Heavy dependence on few customers for majority of revenues(p.199)
- • No long-term customer commitments or contracts(p.199)
- • Significant increase in trade receivables indicating working capital pressure(p.176)
- • Volatile revenue performance with decline from FY24 to stub period(p.195)
- • High concentration of shareholding with promoter holding 86.73% pre-offer(p.146)
- • Unlisted company with no operating history in public markets(p.222)
- • No previous public issue experience or capital raising history(p.221)
- • No prior commercial track record as publicly traded company(p.222)
- • Growing India IT sector projected to reach $350 billion by 2026(p.26)
- • Large projected demand for digitally skilled professionals(p.26)
- • Significant expected growth in digital skill training(p.26)
- • Expansion into new geographical regions beyond Maharashtra(p.36)
- • Growing Indian IT industry with projected US$350 billion market by 2026(p.97)
- • Expanding AI adoption and digital transformation opportunities in India(p.97)
- • Strong domestic demand and economic growth trajectory(p.96)
- • Significant talent availability with growing digital skills workforce(p.98)
- • Enhanced brand visibility and liquidity through public listing(p.79)
- • Strategic investments in emerging technologies and business models(p.47)
- • Expansion of IT infrastructure services across multiple industries(p.191)
- • Growing demand for data center and cybersecurity solutions(p.191)
- • Diversification into hybrid cloud and managed services(p.191)
- • Expansion of system integration and technology advisory services(p.191)
- • Partnerships with leading OEM vendors including IBM, Dell, Veritas, Fortinet(p.191)
- • Potential migration to main board upon achieving capital thresholds(p.233)
- • Guaranteed market making support for minimum three years post-listing(p.234)
- • Access to capital markets through SME platform with reduced regulatory requirements(p.237)
- • Streamlined T+3 listing timeline enabling faster capital deployment(p.242)
- • Dependence on few customer industries with BFSI comprising 71.10% of revenue(p.35)
- • High geographical concentration with Maharashtra generating 68.12% of revenue(p.36)
- • Product/service defects could lead to loss of customers and litigation(p.37)
- • Intense competitive environment with organized and unorganized players(p.41)
- • Pricing pressure from customers may reduce gross margins(p.41)
- • Contracts include liquidated damages and performance guarantee invocation risk(p.40)
- • Vulnerability to global economic downturns affecting customer demand(p.40)
- • Cybersecurity and IT system failures could disrupt service delivery(p.41)
- • Intellectual property protection risks including trademark claims(p.41)
- • Outstanding direct tax litigations with amount in dispute(p.39)
- • Economic slowdown and macroeconomic volatility affecting market demand(p.48)
- • Global financial instability and contagion effects impacting investments(p.49)
- • Volatility in equity share prices post-listing with potential sharp declines(p.45)
- • Regulatory and policy changes affecting operations and profitability(p.47)
- • Data privacy and security regulatory compliance risks(p.48)
- • Natural disasters, epidemics and geopolitical conflicts disrupting operations(p.49)
- • Tax law changes and loss of tax incentive benefits(p.48)
- • Intense competitive pressure in IT infrastructure and system integration market(p.199)
- • Rapid technological change and obsolescence risk in IT products(p.192)
- • Dependence on OEM partner relationships and distribution agreements(p.191)
- • Economic cyclicality affecting IT spending and discretionary budgets(p.193)
- • Regulatory and compliance risks in multiple jurisdictions(p.192)
- • Cybersecurity and data protection risks as service provider(p.191)
- • Global distress from pandemic, war or other external events impacting business(p.193)
- • Risk of key personnel retention and talent shortage(p.192)
- • Minimum 50 allottees requirement with refund penalty for non-compliance(p.233)
- • 100% underwriting obligation with potential for significant underwriting costs(p.232)
- • Mandatory 15% per annum interest penalty for delayed refunds(p.232)
- • Stringent minimum subscription and listing approval dependencies(p.232)
Promoters
| Name | Role | Pre-Issue | Post-Issue |
|---|---|---|---|
| Hiren Rajendra Mehta | Promoter/Selling Shareholder | 86.53% | 60.19% |
| Rajendra Kantilal Mehta | Promoter | 0.10% | 0.10% |
| Harshaben Mehta | Promoter | 0.10% | 0.10% |
| Hiren Rajendra Mehta | Promoter Selling Shareholder | 86.53% | 60.19% |
| Rajendra Kantilal Mehta | Promoter | 0.10% | 0.10% |
| Harshaben Mehta | Promoter | 0.10% | 0.10% |
| Hiren Rajendra Mehta | Promoter | 86.53% | — |
| Rajendra Kantilal Mehta | Promoter | 0.10% | — |
| Harshaben Mehta | Promoter | 0.10% | — |
| Hiren Rajendra Mehta | Promoter/Chairman and Managing Director | 99.80% | — |
| Rajendra Kantilal Mehta | Promoter/Whole Time Director | 0.10% | — |
| Harshaben Mehta | Promoter/Director | 0.10% | — |
| Hiren Rajendra Mehta | Selling Shareholder/Promoter | — | — |
| Hiren Rajendra Mehta | Promoter Selling Shareholder | — | — |
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.