IPO Overview
Incorporated in April 2017 and headquartered in Bengaluru, Karnataka, EverestIMS Technologies Limited is an enterprise software company focused on IT Operations and Service Management (ITOSM). The company develops and delivers software products and services through both a Software-as-a-Service (SaaS) model and on-premise deployments, enabling organisations to monitor, manage, and optimise their IT infrastructure. Its flagship platform — Infraon Infinity — helps businesses monitor networks, servers, and applications in real time. The company serves clients across industries requiring critical IT operations visibility, following a hybrid direct and channel-led go-to-market strategy. As of March 31, 2026, EverestIMS Technologies had a total employee strength of 230.
The company is now launching its SME IPO on the BSE SME platform to raise ₹48.46 crore through a combination of a fresh issue (₹39.05 crore) and an offer for sale (₹9.41 crore). The price band is ₹80–₹85 per share with a lot size of 1,600 shares, making the minimum retail investment ₹2,72,000 (2 lots). The IPO opens on 29 September 2026 and closes on 5 October 2026, with listing expected on 8 October 2026 on BSE SME.
IPO Detailed Information
Issue Details
| Parameter | Details |
| IPO Type | Book Built – SME |
| Listing Exchange | BSE SME |
| IPO Open Date | 29 September 2026 |
| IPO Close Date | 5 October 2026 |
| Allotment Date | 6 October 2026 (Expected) |
| Refund Initiation | 7 October 2026 |
| Credit to Demat | 7 October 2026 |
| Listing Date | 8 October 2026 (Tentative) |
| Price Band | ₹80 – ₹85 per share |
| Face Value | ₹10 per share |
| Lot Size | 1,600 shares |
| Minimum Investment (Retail) | ₹2,72,000 (2 lots = 3,200 shares) |
| Issue Size | ₹48.46 crore |
| Fresh Issue | 45.94 lakh shares (₹39.05 crore) |
| Offer For Sale (OFS) | 11.07 lakh shares (₹9.41 crore) |
Note: The IPO is a combination of fresh issue and OFS. Fresh issue proceeds will go directly to the company; OFS proceeds will go to the existing selling shareholders.
Issue Break-up
| Category | Allocation |
| Qualified Institutional Buyers (QIB) | ~50% |
| Non-Institutional Investors (NII/HNI) | ~15% |
| Retail Individual Investors (RII) | ~35% |
| Market Maker | Reserved Portion |
OFS / Selling Shareholders
The OFS component of 11.07 lakh shares aggregating to ₹9.41 crore will be sold by existing shareholders of the company. The selling shareholders include Ganesh Kumar and Deepak Gupta. Proceeds from the OFS will go directly to them and not to the company.
Objects of the Issue (Fund Utilization)
The company plans to use the net fresh issue proceeds as follows:
- Purchase of IT hardware for setting up an Artificial Intelligence (AI) Innovation and Experience Laboratory — ₹5.66 crore
- Funding of Working Capital Requirements — ₹24 crore
- General corporate purposes — remaining proceeds
Lead Managers & Registrar
- Book Running Lead Manager: Oneview Corporate Advisors Pvt. Ltd.
- Registrar to the Issue: Maashitla Securities Pvt. Ltd.
Promoters & Management
The company has a multi-founder promoter group:
- Mr. Satish Kumar Vijayaragavan (Managing Director)
- Mr. Sudhakar Aruchamy
- Mr. Ramesh Pratap Tiwari
- Mr. Arun Prasath Ramadoss
- Mr. Deepak Kumar Shenbagarajan
- Mr. Srikanth Audina
- Mr. N. Ganesh Kumar
- Mr. Deepak Gupta
The promoters collectively bring deep technical expertise in enterprise software, IT operations, and product development.
Company Details
EverestIMS Technologies Limited is an enterprise software company that develops and sells IT Operations and Service Management (ITOSM) products and services, delivered both as cloud-based SaaS subscriptions and on-premises deployments. Its hybrid deployment model allows it to cater to businesses with varying technology, security, and customization requirements. The company follows a direct and channel-led go-to-market strategy supported by channel partners.
Products & Platform:
- Infraon Infinity — Integrated platform for network monitoring, server and application monitoring, IT service management, network configuration management, and IT asset management
- AI-assisted IT operations capabilities embedded within the platform
Sectors Served:
- Enterprises requiring IT infrastructure visibility and monitoring
- BFSI, Manufacturing, Telecom, and IT Services companies
- Organisations transitioning to hybrid cloud environments
Key Capabilities:
- Fully integrated ITOSM platform with SaaS and on-premise deployment options
- AI-enabled operations features
- Direct and channel-led go-to-market approach with an established partner network
- Total employee strength of 230 as of March 2026
Registered Office:
No. 759, Sree Gururaya Mansion, South Wing, 8th Main, J.P. Nagar, III Phase, Bangalore – 560078
Financial Snapshot
| Period | Revenue (₹ Cr) | PAT (₹ Cr) |
| FY25 | ₹57.78 | Higher than FY26 |
| FY26 | ₹65.91 | Lower than FY25 |
- Revenue increased by 14% between FY25 and FY26, while PAT dropped by 7% over the same period.
- Working capital requirement was ₹35.22 crore in FY26, up from ₹23.64 crore in FY25 and ₹23.43 crore in FY24 — indicating rising capital intensity.
- Employee benefit expenses represented 33.44% of total income in FY26, down from 40.46% in FY25 — showing improving cost efficiency.
Key Financial Metrics
- Post-issue valuation: ~14x earnings — relatively reasonable for an enterprise software SME
- Revenue CAGR (FY24–FY26): ~20%+
- PAT trend: Profitable but declined in FY26 despite revenue growth — a key concern for investors
- The company has had negative cash flows in the past from investing and financing activities.
- Debt-to-equity, EPS, ROE, ROCE, and EBITDA margin are disclosed in the RHP as key performance indicators
Company Strengths
- Profitable software business with its own IT-management platform and plans to expand AI-related capabilities
- Hybrid deployment model (SaaS + on-premise) enables broader market reach across enterprise segments with varying IT maturity
- Fully integrated platform — Infraon Infinity — covering network monitoring, IT service management, configuration management, and asset management
- Experienced multi-founder promoter team with deep domain expertise in enterprise software and IT operations
- Growing addressable market driven by India’s digital transformation, cloud adoption, and increasing demand for IT operations visibility tools
- Channel partner ecosystem supporting scalable go-to-market execution without proportional cost increase
Key Risks & Challenges
- PAT declined in FY26 despite revenue growth of 14% — indicating rising costs and margin compression, which raises questions about operational leverage
- High customer concentration — top 10 customers contribute a large majority of revenue — and high supplier concentration with purchases heavily dependent on a small set of suppliers
- The company’s business may be adversely affected if it fails to adapt to rapid technological changes and evolving industry standards, or if it is unable to successfully enhance its existing products or develop new offerings
- The company has had negative cash flows from investing and financing activities in the past — sustained negative cash flows could adversely impact its business and financial condition
- Rising working capital requirements — ₹35.22 crore in FY26 vs ₹23.64 crore in FY25 — indicate the business needs progressively more capital to grow
- SME IPO liquidity risk — limited secondary market trading volumes on BSE SME platform
Disclaimer:
This document is for informational purposes only and should not be considered as investment advice. Investors should read the Red Herring Prospectus (RHP) carefully and consult a financial advisor before investing in any IPO. Market investments are subject to risk.
