Wherrelz IT Solutions was incorporated on December 19, 2014. The company including its subsidiary company, Infinitybeam IOT Labs is engaged in the business of web-centric, multi-spectrum IT product development and maintenance and provision of IT consultancy.
| Bidding Dates |
|---|
| 16 Dec 2021 - 21 Dec 2021 |
| Subscription |
|---|
| 2.25x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,36,800 | 1 | 1 | 800 | 117.6 K | ₹171 | 69.82 % | ₹20.1 M | RHP DOC |
Wherrelz IT Solutions IPO SUBSCRIPTION STATUS
21 Dec '21Wherrelz IT Solutions IPO overall subscription rate was 2.25 times the total available shares
Wherrelz IT Solutions IPO retail subscription rate was 2.86 times in the retail segment
Wherrelz IT Solutions IPO non-institutional investor subscription rate was 1.65 times in the non-institutional investor category
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 50% | 50% | - |
18 Dec 2021 (Day 3) | 1.49x | 1.55x | - |
20 Dec 2021 (Day 4) | 2.41x | 1.58x | - |
21 Dec 2021 (Day 5) | 2.86x | 1.65x | - |
16 Dec 2021 (Day 1) | 1.09x | 1.52x | - |
17 Dec 2021 (Day 2) | 1.49x | 1.55x | - |
Wherrelz IT Solutions FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from operations (Rs in millions) | Cash Flow from operations (Rs in millions) | Free Cash flow (Rs in millions) |
| 3MFY22 | -1.5 | 0.7 | -1.5 | -1.5 |
| FY21 | 0.1 | 2.0 | 0.3 | 0.1 |
| FY20 | 0.3 | 2.2 | 0.0 | -0.1 |
| FY19 | 0.1 | 1.9 | 0.2 | 0.1 |
Wherrelz IT Solutions IPO SUBSCRIPTION STATUS DETAILS
Wherrelz IT Solutions had 117.6 K shares on offer
Wherrelz IT Solutions IPO offer price was ₹171
Wherrelz IT Solutions IPO minimum Investment was ₹136800
Wherrelz IT Solutions IPO issue size was ₹ 20.1 M
Wherrelz IT Solutions had a minimum lot size of 800 Shares per application
Wherrelz IT Solutions NUMBER OF SHARES ON OFFER
Wherrelz IT Solutions IPO IMPORTANT DATES
| Issue Open Date | 16 Dec 2021 |
| Issue close Date | 21 Dec 2021 |
| Allotment Date | 24 Dec 2021 |
| Refund Date | 27 Dec 2021 |
| Demat Account Credit Date | 28 Dec 2021 |
| Listing Date | 29 Dec 2021 |
| Listing on Exchange(s) | BSE |
| Wherrelz IT Solutions Allotment Status | Exchange |
Wherrelz IT Solutions IPO subscription opened on 16 Dec 2021, and closed on 21 Dec 2021
IPO allotment for Wherrelz IT Solutions was finalized on Friday, 24 Dec 2021
IPO listing for Wherrelz IT Solutions was on BSE on Wednesday, 29 Dec 2021
Wherrelz IT Solutions IPO LISTING GAINS
| Issue Price (adjusted) | 171.0 |
| Listing Open Price | 179.9 |
| Listing Close Price | 177.2 |
| Listing Gain% | 5.2% |
| Current Gain% | -13.0% |
Wherrelz IT Solutions INFORMATION ON IPO ISSUE
About Wherrelz IT Solutions
Wherrelz IT Solutions was incorporated on December 19, 2014. The company including its subsidiary company, Infinitybeam IOT Labs is engaged in the business of web-centric, multi-spectrum IT product development and maintenance and provision of IT consultancy.
Object of the Issue
- Working capital requirements
- General corporate purpose
Wherrelz IT Solutions - PROMOTERS
| Name |
|---|
| Chaitanya Dhareshwar |
| Sumanlata Dhareshwar |
Wherrelz IT Solutions Lead Manager
Fedex Securities Private Limited
mb@fedsec.in
Wherrelz IT Solutions Registrar to the Offer
Bigshare Services Private Limited
ipo@bigshareonline.com
Wherrelz IT Solutions Strengths
Qualified Senior Management Team
Promoters, Chaitanya Dhareshwar having approximately 16 years of experience and Sumanlata Dhareshwar having approximately 14 years of experience in the field of IT industry have guided the company to establish and attain business objectives since the inception of the company.
Scalable Business Model
The company's business model is technology driven and comprises optimum utilization of ability to put together a successful team for creative software solutions, efficient working of our marketing team, management expertise in identifying upgraded technology, acquiring new customers, budgeting the production lifecycle and achieving consequent economies of scale.
Agile engineering and delivery
With broad software engineering capabilities, the company has the ability to choose the methods, technologies and tools which they believe are best suited to customers’ business needs
Wherrelz IT Solutions Risks
Business cycle
The length of the sales cycle may fluctuate significantly and depends on several external factors which may result in significant fluctuations in revenues.
Negative cash flows
The company has had negative cashflows in the past
IPO FAQs
Wherrelz IT Solutions Ltd. IPO listing opened at Rs 179.90 while the issue price was Rs 171.00 giving 5.20% returns. After adjusting for subsequent bonus and splits, the stock trades at Rs 171.00 giving -13.01% gains since its IPO listing.
The promoters of the company are Chaitanya Dhareshwar and Sumanlata Dhareshwar.
The category allocation of qualified institutional buyers is 0.0%, the category allocation of non individual investors or high networth individuals is 50.0% and for retail investors it is 50.0%.
The price band of the IPO is Rs 171.0 - 171.0.
The IPO application opens on Dec 16, 2021 and closes on Dec 21, 2021.
The minimum lot size for the IPO is 800. The maximum lot size for the IPO is 800.
For all category investors, the minimum application amount for this IPO is Rs. 136,800.0, the maximum value for this IPO is Rs 136,800.0.
This IPO will be allotted on Dec 24, 2021.
The refund will be credited to your account on Dec 27, 2021.
The allotted shares will be credited to your demat on Dec 28, 2021.
Wherrelz IT Solutions Ltd.’s shares listed on the stock exchanges on Dec 29, 2021.