Enfuse Solutions Limited IPO

About Enfuse Solutions Limited

Founded in 2019 with a Delivery Centre in Mumbai, Maharashtra, the company expanded with a second centre in Vikroli, Mumbai. Enfuse Solutions Ltd generates its revenue from both domestic and international operations, majorly from service exports to countries including the USA, Ireland, the Netherlands, and Canada.

Enfuse Solutions Ltd specialises in delivering comprehensive digital solutions across a variety of domains, including

1. Data Management & Analytics,
2. E-commerce & Digital Services,
3. Machine Learning & Artificial Intelligence, and
4. Edtech & Technology Solutions.

The company leverages a combination of custom-designed data processes, skilled delivery teams comprising generalists and domain experts, and proprietary software to enhance and automate various processes.

Enfuse Solutions Ltd serves a wide range of clients, from startups to established blue-chip companies across sectors like Technology, BFSI, Retail, FinTech, and more. Recently, it secured a project worth ₹64.53 Crores from Maharashtra's Commissioner for Co-operation & Registrar of Cooperative Societies to implement a computerisation project for Primary Agricultural Credit Societies (PACS), covering software operationalisation, data digitisation, testing, support centers, and compliance reporting.

Industry Outlook

1. In fiscal year 2023, India's IT export earnings experienced a growth of approximately 9% in constant currency, reaching a total of around US$ 194 billion.
2. Over half of these exports, specifically more than 53%, were attributed to IT services, marking them as the primary source of IT export revenue, inclusive of hardware.
3. Additionally, the exports in the Business Process Management (BPM) sector, along with engineering, research and development (ER&D), and software products, constituted 22% and 25% of the overall IT exports, respectively, during the same fiscal year.

Enfuse Solutions Limited IPO Details

Enfuse Solutions Limited IPO Dates

The IPO of Enfuse Solutions Limited is open for subscription from March 15, 2024, to March 19, 2024.

Enfuse Solutions Limited IPO's Price Band

Enfuse Solutions Limited’s IPO is a fresh issue IPO of up to ₹22.44 crore. It is a book-building issue. The price range is set to ₹91 to ₹96 per share.

Enfuse Solutions Limited IPO's Lot Size

The lot size for Enfuse Solutions Limited’s IPO is 1,200 shares with a minimum investment of ₹1,15,200.

Enfuse Solutions Limited IPO's Objectives

The company plans to allocate the net proceeds from the issuance to the following purposes:

1. Enfuse Solutions Ltd intends to use ₹383.93 lakhs from the IPO proceeds for the repayment of particular debts the company has incurred.
2. An allocation of ₹1,050.00 lakhs from the IPO funds is earmarked by Enfuse Solutions Ltd for bolstering its working capital, ensuring smooth business operations.
3. General Corporate Purposes.

Peer Details

As per RHP, the listed peer whose business portfolio is comparable to the Enfuse Solutions are as follows:

1. Insolation Energy Limited,
2. eClerx Services Limited,
3. Systango Technologies Limited

How To Check the Allotment Status of Enfuse Solutions Limited’s IPO?

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• Log in to the Angel One app.
• Go to the IPO Section and then to IPO Orders.
• Select the individual IPO that you had applied for and check the allotment status.
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Contact Details of Enfuse Solutions Limited

Registered office: A/1503, Bonaventure Building No.5, Rangnath Kesar Road, Dahisar West, Mumbai 400068, Maharashtra, India.

Contact Person: Shubhra Maheshwari (Company Secretary and Compliance Officer)

Phone: +91-22-28118383

E-mail: cs@enfuse-solutions.com