Enfuse Solutions Limited IPO To Open On 15th March, Sets Price Band At Rs 91 to Rs 96 Per Share

New Delhi (India), March 15: Established in 2017, Enfuse Solutions Limited specializes in offering comprehensive digital solutions across various domains including E-commerce, Digital Services, Machine Learning/Artificial Intelligence, Education Technology, and Data Management & Analytics. The company is poised for its initial public offering (IPO), with plans to raise INR 22.44 crores through the issuance of 23.38 lakh new shares.

For its SME Initial Public Offering (IPO), Enfuse Solutions Limited has established a price band of Rs 91 to Rs 96 per share. The company’s shares will open for subscription on March 15, 2024 and closes on March 19, 2024. These will be listed on the NSE Emerge, with a projected listing date of Friday, March 22, 2024

Hem Securities Limited is the book running lead manager of Enfuse Solutions Ltd IPO, while Bigshare Services Pvt Ltd is the registrar for the issue.

The issue proceeds will be utilized in repayment of certain Borrowings availed by the Company, to meet working capital requirements and general corporate purposes.

On Wednesday, March 20, 2024, the shares for the Enfuse Solutions IPO are anticipated to be allotted, and on Thursday, March 21, 2024, the shares will be credited to the demat account of the allottees. The IPO comprises 50% of the net issue for QIB, 35% for retail investors and 15% of the net issue for the NII segment.

Retail investors need to contribute a minimum of Rs 1.152 lakh considering the minimum lot size for an application is 1200 shares. For HNIs, the minimum bidding size is two lots, or 2400 shares, for a total investment of Rs 2.304 lakh at the upper price band.

Enfuse Solutions Limited’s revenue increased by a CAGR of 23.15% and profit after tax (PAT) rose by 37.23% % during the period FY 2021-23. Revenue as on 31st December 2023 was Rs. 28.03 Crs. with a PAT of Rs. 3.22 Crs. at 11.51% margin.

Enfuse Solutions Limited is active in four key areas: Data Management & Analytics, E-commerce & Digital Services, Machine Learning & Artificial Intelligence, and Education Technology and Solutions. The company’s primary offerings encompass a suite of innovative solutions, such as AI-driven auto proctoring to identify anomalies during assessments, advanced tagging and labelling for pattern recognition and predictive analytics, comprehensive e-commerce platform management including product listing and payment gateway integration, and sophisticated data analytics to reveal trends and inform strategic decisions.

The Company has two delivery centres, one in Mira Road, Thane, Maharashtra and the second unit in Vikroli, Mumbai, Maharashtra. The Company generates revenue from domestic operations in India and exports services to countries like the USA, Ireland, Netherlands, Canada etc. During the financial year ended FY 2023 the company generated 83.47% of Revenue from exports.

As of December 31, 2023, the Company has employed a total of 448 individuals at various levels of the organization, including key members.

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