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Vinsys IT IPO is entirely a fresh equity issue of up to 38.94 lakh equity shares aggregating up to Rs 49.8 crore. The stock will get listed on SME segment of the NSE. Vinsys IT is engaged in the business of offering training and certifications, digital learning, project management, and technology training for the IT industry.

About Vinsys IT Services:

• Incorporated in 2008, Vinsys IT Services India Limited is a part of Vinsys Group, headquatered in Pune, Maharashtra.
• Since inception, Vinsys Group has been dedicated to IT skill development, trainings and certification.
• As on the date of this Red Herring Prospectus, the group comprises of 8 business entities, having its footprints in India, USA and Middle Eastern Countries.
• Its Core business can be divided in following categories:
  • a) Training & Certifications
  • b) Digital Learning
  • c) IT Development Services
  • d) Foreign Language Services
• It caters to professionals across all industries and domains and offer assistance to organizations in formulating their learning and development strategies.
• To support its training efforts, it has established multiple infra-ready labs with a capacity of 2,400 delegates, allowing it to provide hands-on learning experiences to participants across the world.
• It has catered corporate clients across continents which, includes IBM, Atos, Infosys, HSBC, EY, Siemens, Dubai Airports, Dubai Custom & Synechron.
• In addition to certifications and training offerings, it provides a comprehensive end to end solution by delivering robust and advanced digital learning solutions. Its full suite of software service offerings includes ERP solutions, DevOps practices, architectural consulting, integration, and middleware services. We also help organizations reduce geographical diversity through foreign language translation services.
• It caters to professionals across all industries and domains and offer assistance to organizations in formulating their learning and development strategiesoters of company are Mr. Vikrant Shivajirao Patil and Mrs. Vinaya Vikrant Patil.

Financials: Vinsys IT Services

Anchor Investors

Shri Techtex IPO: Salient Points

• As per management Vinsys is well-positioned to capitalize on the growing demand for enterprise software solutions in the healthcare industry.
• As part of the expansion plan, the company said that it is actively seeking inorganic growth opportunities to expand its reach in new markets, including the US and the UK, while continuing to consolidate its position in the Middle East.
• The top ten customers Contributes 34.05%, 47.71% and 24.81% of total sales for the year ended on March 31, 2023, March 31, 2022, and March 31, 2021 respectively.

• The revenue from overseas subsidiary operations has shown good traction in FY23.

The revenue bifurcation of the company for last three years is as follows:

• Peer comparison with companies indicated in RHP.

• The offer is at a PE ratio of 12.5x (fy23 earnings). There is significant jump in company profits in last year.
• Iam not sure about this data but a large portion of revenues in FY23 may have come for US based subsidiary.
• The lead book running manager is Beeline Capital Advisors. The IPOs lead managed by them have given a good return to the investors. These include names like Ahasolar Technologies, Pentagon Rubber, Remus Pharmaceuticals, Sotac Pharmaceuticals, RBM Infracon Limited, Transvoy Logistics, Dev Labtech, Viviana Power Tech, Vital Chemtech, Aristo Bio-Tech and Lifescience, Viaz Tyres, Vertexplus Technologies,
• I intend to apply in Vinsys IT IPO subject to availability of funds.
• Last year numbers have been exceptional with good contribution from Overseas subsidiary and if same trend continues it may pave the way for good valuations for the company
• GMP as reported on social media has been around Rs. 40.
• Sunflower Broking is the market maker for the company. It has been the market maker in IPOs like Vertexplus Technologies, Sealmatic India etc.
• SME IPO are quite illiquid and volatile and exit options sometimes is delayed.

Standard disclaimer: I am not a SEBI registered analyst and above analysis is for educational purpose only. Iam a postgraduate in engineering & Management . Also Certified in some exams like NISM-Series-V-A: Mutual Fund Distributors Certification, NISM-Series-X-A: Investment Adviser (Level 1) Certification and NISM-Series-X-B: Investment Adviser (Level 2) Examination. This post is my view on the subject matter and is only academic and exploratory in nature. It is not meant to influence investment decisions of investors. I may have bias/vested interest in covered Stock/Mutual Funds/NCD etc. due to my own investment or leaning. Further my understanding of the areas on which I write may be imperfect or incomplete and data could be wrong due to limited time and resources at my disposal. Do check the data from company’s RHP and exchanges before making any decision. Please do your own due diligence as stock market/MF investments have high degree of inherent risk.