iValue Infosolutions Limited is an enterprise technology solutions specialist based out of India, offering comprehensive, purpose-built solutions for securing and managing digital applications and data. They primarily serve large enterprises in their digital transformation by understanding their needs and working with System Integrators and OEMs to identify, recommend and deploy solutions meeting their requirements, aimed at ensuring performance, availability, scalability and security of digital applications and data. Company typically works with System Integrators to understand enterprise customers' business and technical requirements, curate customised solutions (including multi-OEM stacks, where solutions from multiple OEMs interact with each other), and assist in procurement and deployment of the required technology solutions by partnering with OEMs, across cybersecurity, information lifecycle management, data centre infrastructure, application lifecycle management, hybrid cloud solutions and other domains. At any given instance, enterprises use multiple OEMs to support their information technology and security infrastructure and applications. This multi-OEM interoperability and service support becomes a crucial decision point for enterprises. They help enterprise customers navigate the technology solutions and associated services market. In Fiscals 2023, 2024 and 2025, company enabled, 4,410, 4,758 and 5,915 transactions respectively, with average transaction size of, Rs 4.11 million, Rs 4.44 million and Rs 4.12 million, respectively. Their network of OEM partners has grown from 93 as of March 31, 2023, to 101 as of March 31, 2024 and subsequently to 109 as of March 31,2025. The number of System Integrators they had transactions with grew from 567 for Fiscal 2023 to 648 for Fiscal 2024 to 804 for Fiscal 2025, and our number of enterprise customers served grew from 1,804 for Fiscal 2023 to 2,014 for Fiscal 2024 to 2,877 for Fiscal 2025. Company has offices across eight locations in India, including the Registered and Corporate Office in Bangalore, India. Additionally, they are also present in six international locations, namely Singapore, Bangladesh, Sri Lanka, UAE, Cambodia and Kenya. Through their team in Bangladesh, which is headquartered in Singapore, they also cater to Bhutan and Nepal markets. They have been able to leverage their India business to also expand into the above geographies, with a network of 57 OEMs, who distribute their products and offerings through them in identified geographies as of March 31, 2025. They leveraged the network of 116 and 133 System Integrators, to serve 207 and 322 enterprise customers in these geographies in Fiscal 2023, 2024 and Fiscal 2025. As per financial performance, iValue Infosolutions Limited has posted total income / net profits of Rs 805.78 Cr / 59.92 Cr (FY23), Rs 795.18 Cr / Rs 70.57 Cr (FY24) and Rs 942.35 Cr / 85.30 Cr (FY25). So as per previous financials data, company has shown good results. Company has an average EPS of Rs 14.28 and average RoNW of 21.63% for last three fiscals. Issue is priced at a P/BV of 3.95 as per NAV of Rs 75.77/- as on 31.03.25. If we attribute latest earnings of FY23, FY24 and FY25 on equity post issue, then asking price is at a P/E of around 26.72, 22.68 and 18.77 respectively. As per RHP, there are no listed peers available in Indian listed market. On BRLM's front, IIFL Capital Services Limited and Motilal Oswal Investment Advisors Limited are associated with this IPO, and have handled 63 IPOs in last three fiscal years. ( As on 15.09.25 ) As per financials, iValue Infosolutions Limited has shown good results, RoNW is 20.63% and P/E is 26.72, 22.68 and 18.77 respectively as per FY23, FY24 and FY25 earnings. So issue looks fully priced. Company is an enterprise technology solutions specialist based out of India. So, we give NEUTRAL rating for this IPO. Readers must consult a qualified financial advisor prior to making any actual investment decisions.
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