VertexPlus Technologies brings its IPO on 2nd March 2023

Mr. Sandeep Kumar Pahariya, Chairman and Managing Director and Mrs. Niru Pahariya, Wholetime Director, VertexPlus Technologies Limited

To be listed on the NSE Emerge platform

Jaipur (Rajasthan) [India], February 28: 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 ₹91-96 per share, with a face value of ₹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 of March 2023 for the anchors and on the 2nd of 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 as follows:

– 70% for working capital requirements

– 20% for general corporate purposes

– 10% 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 a diversified customer base and revenue sources.

VertexPlus Technologies Limited has recorded consistent growth over the fiscal years. Its revenue from operations was ₹208.6 million in FY22 and ₹196.4 million in FY21, while it stood at ₹105.5 million for H1FY23. The company registered EBITDA in FY22 of ₹32 million, which was ₹21 million in FY21, and the same was ₹17 million for H1FY23. Its PAT for FY22 was ₹18.6 million and for FY21, it was ₹10.5 million; while it registered a PAT of ₹9.1 million for H1FY23.

Mr. 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.

If you have any objection to this press release content, kindly contact pr.error.rectification[at]gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.

Business

O.P. Jindal’s (Omprakash Jindal) Industrial Revolution: A Legacy of Innovation and Growth

New Delhi [India], February 14: India, with its rich history of entrepreneurship and industrial growth, has seen several figures who played pivotal roles in shaping its economic landscape. Among them, Omprakash Jindal stands out as a visionary whose innovations not only transformed the Indian industry but also laid the foundation for its global footprint. A […]

Read More
Business

Sheth Realty’s Subvention Scheme at Promont Offers a Seamless Path to Homeownership

Mumbai (Maharashtra) [India], February 14: Sheth Realty, known for delivering quality residential projects, has announced a Developer Subvention Scheme for its new premium towers at Promont, Sion – BKC Connector. A move set to ease the home buying process further, Sheth Realty’s latest scheme allows buyers to book their apartments at Promont by paying just […]

Read More
Business

Texas Smokehouse secures funding, set to open 100 outlets in its first phase of expansion in India

Chandigarh [India], February 14: Texas Smokehouse, India’s first-ever smoked chicken QSR brand, is making bold moves to disrupt the country’s fast-food industry. Yummify Foods & Beverages Pvt Ltd, the parent company of Texas Smokehouse, has raised undisclosed funding in a pre-seed round. The founder, Isht Sethi, has announced an aggressive expansion plan of 100 outlets; […]

Read More