VertexPlus Technologies brings its IPO on 2nd March 2023; to be listed on NSE Emerge platform

Jaipur (Rajasthan) [India], February 28 (ANI/PNN): VertexPlus Technologies Limited, a Jaipur based Information Technology company engaged in consulting, outsourcing, infrastructure and digital solutions and services, has announced its IPO for 14,79,600 shares at a price band of Rs 91-96 per share, with a face value of Rs 10 per share. Out of 14,79,600 shares, 7,02,000 shares are reserved for the QIB quota (including Anchor Reservation), 2,11,200 shares will be reserved for the HNI quota and 4,92,000 shares are reserved for the retail quota, whereas 74,400 shares have been set aside under the market maker quota. The shares will be sold in lot size of 1,200 shares. The issue opens on the 1st March 2023 for the anchors and on the 2nd March 2023 otherwise. The closing date is 6th March 2023. It will subsequently be listed on the NSE Emerge platform. The lead manager to the issue is Beeline Capital Advisors Pvt. Ltd.
The projected utilisation of the proceeds raised from the issue is:
- 70 per cent for working capital requirements
- 20 per cent for general corporate purposes
- 10 per cent for the issue expense
VertexPlus Technologies Limited is an ISO 9001:2015 and ISO/IEC 27001:2013 certified Information Technology Company engaged in consulting, outsourcing, infrastructure and digital solutions and services. It collaborates with companies to fulfil their ever-evolving Information technology needs and supports their business with its enabling solutions to strengthen their current capabilities and build pathways for sustainable growth. The company has experience across various industry sectors. The company offers four broad categories of services - technology, consulting, infrastructure and outsourcing. The company offers quality and timely delivery of complex enterprise projects through 5 delivery models: off-shore, on-site, hybrid, global and strategic partnerships. VertexPlus Technologies has a global delivery network and diversified customer base and revenue sources.
VertexPlus Technologies Limited has recorded consistent growth over the fiscal years. Its revenue from operations was Rs 208.6 million in FY22 and Rs 196.4 million in FY21, while it stood at Rs 105.5 million for H1FY23. The company registered EBITDA in FY22 of Rs 32 million, which was Rs 21 million in FY21 and the same was Rs 17 million for H1FY23. Its PAT for FY22 was Rs 18.6 million and for FY21, it was Rs 10.5 million; while it registered a PAT of Rs 9.1 million for H1FY23.
Sandeep Kumar Pahariya, the Chairman and Managing Director of VertexPlus Technologies Limited, is the promoter of the company and has over 24 years of experience in the IT industry.
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