Incorporated in 2014, Wherrelz IT solutions and its subsidiary Infinitybeam IOT Labs Private Limited is engaged in the business of web-centric, multi-spectrum IT Product development and maintenance and provision of IT Consultancy. The company provides a wide range of services such as Enterprise Risk Management (ERM), Enterprise Resource Planning (ERP), E-Commerce, Application programming interface (API), Cyber Security, Internet of Things (IoT), cloud-based tools, etc through standard software development model or customized software development model depending upon the requirement of the clients.
Competitive Strengths:
- Experienced senior management.
- Scalable Business Model
- Broad software engineering capabilities
Company Promoters:
Mr. Chaitanya Dhareshwar and Mrs. Sumanlata Dhareshwar are the company promoters
Company Financials:
| Particulars | For the year/period ended (₹ in Lakhs) | |||
|---|---|---|---|---|
| 30-Jun-21 | 31-Mar-21 | 31-Mar-20 | 31-Mar-19 | |
| Total Assets | 18.65 | 9.01 | 8.12 | 7.81 |
| Total Revenue | 7.43 | 20.47 | 22.12 | 20.13 |
| Profit After Tax | – 15.38 | 1.44 | 3.16 | 1.24 |
Objects of the Issue:
The company intends to utilize the net proceeds for the following objects:
- Working Capital Requirements
- General Corporate Purpose
Wherrelz IT Solutions IPO Details
| IPO Opening Date | Dec 16, 2021 |
| IPO Closing Date | Dec 21, 2021 |
| Issue Type | Fixed Price Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹171 per equity share |
| Market Lot | 800 Shares |
| Min Order Quantity | 800 Shares |
| Listing At | BSE SME |
| Issue Size | 117,600 Eq Shares of ₹10 (aggregating up to ₹2.01 Cr) |
| Fresh Issue | 117,600 Eq Shares of ₹10 (aggregating up to ₹2.01 Cr) |
Wherrelz IT Solutions IPO Tentative Timetable
The Wherrelz IT Solutions IPO open date is Dec 16, 2021, and the close date is Dec 21, 2021. The issue may list on Dec 29, 2021.
| IPO Open Date | Dec 16, 2021 |
| IPO Close Date | Dec 21, 2021 |
| Basis of Allotment Date | Dec 24, 2021 |
| Initiation of Refunds | Dec 27, 2021 |
| Credit of Shares to Demat Account | Dec 28, 2021 |
| IPO Listing Date | Dec 29, 2021 |
Wherrelz IT Solutions IPO Lot Size
The Wherrelz IT Solutions IPO market lot size is 800 shares. A retail-individual investor can apply for up to 1 lots (800 shares or ₹136,800).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 800 | ₹136,800 |
| Maximum | 1 | 800 | ₹136,800 |
Wherrelz IT Solutions IPO Promoter Holding
| Pre Issue Share Holding | 29.41% |
| Post Issue Share Holding | 20.53% |
Wherrelz IT Solutions IPO Review
The company has posted erratic financial performances so far indicating minuscule operations. It has incurred a huge loss in Q1 of FY22 that wiped out its net worth. The issue is exorbitantly priced based on earning scales. Very small paid-up capital post IPO indicates longer gestation for migration to main board. There is no harm in ignoring this pricy offer.
Company Contact Information
Wherrelz IT Solutions Limited
Plot No. 15, Road 10, Sec -1,
New Panvel East,
Navi Mumbai, Raigarh – 410 206
Phone: +91 9811221082
Email: official@wherrelz.com
Website: https://wherrelz.in/
Wherrelz IT Solutions IPO Registrar
Bigshare Services Pvt Ltd
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: http://www.bigshareonline.com