Wherrelz IT Solutions Limited IPO (Wherrelz IT Solutions IPO) Detail

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:

ParticularsFor the year/period ended (₹ in Lakhs)
Total Assets18.659.018.127.81
Total Revenue7.4320.4722.1220.13
Profit After Tax– 15.381.443.161.24

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 DateDec 16, 2021
IPO Closing DateDec 21, 2021
Issue TypeFixed Price Issue IPO
Face Value₹10 per equity share
IPO Price₹171 per equity share
Market Lot800 Shares
Min Order Quantity800 Shares
Listing AtBSE SME
Issue Size117,600 Eq Shares of ₹10
(aggregating up to ₹2.01 Cr)
Fresh Issue117,600 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 DateDec 16, 2021
IPO Close DateDec 21, 2021
Basis of Allotment DateDec 24, 2021
Initiation of RefundsDec 27, 2021
Credit of Shares to Demat AccountDec 28, 2021
IPO Listing DateDec 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).

ApplicationLotsSharesAmount (Cut-off)

Wherrelz IT Solutions IPO Promoter Holding

Pre Issue Share Holding29.41%
Post Issue Share Holding20.53%

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

Wherrelz IT Solutions IPO Registrar

Bigshare Services Pvt Ltd

Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com

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