iValue Infosolutions shares list at 5% discount to IPO price

Shares of Ivalue Infosolutions listed at a discount of nearly 5% on Thursday, September 25. The stock debuted at ₹284.95 on NSE and ₹285 on BSE, compared with the issue price of ₹299.

The issue received bids for 2.38 crore shares against 1.31 crore on offer, getting subscribed 1.82 times overall.

While institutional demand gave the issue a healthy close, activity in the grey market has been tepid. The grey market premium (GMP) stood at 0%, which suggested that the stock may list close to its IPO price.

The IPO, which was open for subscription from September 18 to September 22, had a fixed price band of ₹284-299. The company garnered ₹560.29 crore through its three-day share sale.

The IPO included only an offer-for-sale (OFS) component comprising 1.87 crore equity shares with no fresh issue component.

Promoters Sunil Kumar Pillai, Krishna Raj Sharma, Srinivasan Sriram, and Hilda Sunil Pillai, along with investors such as Sundara (Mauritius) Ltd, are among those who offloaded shares.

Anchor investors had already put in ₹168 crore on September 17, taking up 30% of the issue.

Company overview

iValue Infosolutions is a value-added distributor and solutions aggregator in the enterprise technology space. The company bridges global Original Equipment Manufacturers (OEMs) with Indian enterprises through System Integrators (SIs).

Its role goes beyond distribution — IISL curates multi-vendor technology stacks that integrate cybersecurity, information lifecycle management, data center infrastructure, hybrid cloud, and application lifecycle management.

Revenues are generated primarily through spreads between OEM purchase price and customer solution sales, supplemented by service and integration income.

Financials

The company posted revenue of ₹923 crore in FY25, up 18% year-on-year, with a profit after tax of ₹85.3 crore. Margins have been stable, with PAT margin at 9.2% in FY25. Return ratios remain healthy, with RoE at 18.4% and RoCE at 25%.