Minerva Capital Research Solutions

EverestIMS Technologies

ListedListed 8 Oct 2026BSE SMENSE: EIMSCheck allotment
Current price₹ 94.16+10.78% since issue
Listing day+48.24%
Issue price
₹ 85
Issue size
₹ 48.46 Cr.
Min. investment
₹ 1,36,000
Listing price
₹ 126
Subscribed
273.68x
Lot size
1,600 shares
P/E
14
RoNW
33.53%
RoCE
40.71%
PAT margin
23.66%
RoE
40.30%
EPS
₹ 6.07
NAV
₹ 19.52
Promoter stake
58.98%

About

EverestIMS Technologies Limited was started in April 2017. It is a software company that sells both software-as-a-service and on-premise products. Its focus is IT operations, meaning the tools a company's IT team uses to keep networks, servers and applications running. Its main platform is Infraon Infinity, which remotely monitors critical network devices, servers and applications so that problems are caught before they cause downtime. Its product range covers IT service management, IT infrastructure management, network configuration and change management, AI for IT operations, IT asset management and operation support systems for telecom operators. It sells directly and through its subsidiary Infraon Corp in the United States, and also works with Indian and international channel partners, distributors and sales agents who find customers for it.

Timeline

  1. Opens
    29 Sep
    done
  2. Closes
    5 Oct
    done
  3. Allotment
    6 Oct
    done
  4. Refunds
    7 Oct
    done
  5. Demat credit
    7 Oct
    done
  6. Listing
    8 Oct
    done

Grey market premium (GMP)

GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Highest
₹ 55 on 6 Oct 2026
Lowest
₹ 0 on 24 Sep 2026
First quoted
₹ 0 on 24 Sep 2026

Subscription

How many times each investor group bid for its share, as of 08 Oct 2026, 06:30 PM IST.

How much to apply for

The smallest and largest bids for each kind of investor at the upper price band.

Lots and amounts by investor type
Retail (Min)11,600₹ 1,36,000
Retail (Max)11,600₹ 1,36,000
HNI (Min)23,200₹ 2,72,000

Company overview

Financials

Financials by year
Assets90.2767.8250.47
Total Income65.9157.7845.62
Profit After Tax13.1414.0810.83
EBITDA23.3422.6417.44
NET Worth60.5947.4132.22
Reserves and Surplus43.5430.3730.39

Strengths

  • The margin is high, as expected in software, with a PAT margin of 23.66% and EBITDA of Rs 23.34 crore on income of Rs 65.91 crore in FY2026.
  • Return on capital employed is strong at 40.71%, with RoNW of 33.53%.
  • Sales have grown every year, from Rs 45.62 crore in FY2024 to Rs 57.78 crore in FY2025 and Rs 65.91 crore in FY2026.
  • The issue is priced at about 14 times earnings on an EPS of Rs 6.07, which is modest for a software business.
  • It owns its product, Infraon Infinity, rather than reselling someone else's software, so the value it builds stays with it.
  • Selling as SaaS brings subscription income that repeats every year rather than one-off licence sales.
  • It has a US subsidiary, Infraon Corp, and international channel partners, so it is not dependent on Indian customers alone.
  • Net worth has nearly doubled in two years, from Rs 32.22 crore to Rs 60.59 crore.

Risks

  • Profit fell in the latest year, from Rs 14.08 crore in FY2025 to Rs 13.14 crore in FY2026, even though sales rose 14%.
  • IT operations software is a crowded market with large global vendors that have far bigger budgets for product and sales.
  • Channel partners and distributors bring in a part of the business, so the company does not fully control those customer relationships.
  • Rs 24 crore of the issue goes into working capital, which is high for a software company and suggests customers take time to pay.
  • The company is young, having been started in April 2017.
  • There are eight promoters, and their combined holding falls from 80.38% to 58.98% after the issue.
  • This is a fresh issue combined with an offer for sale, so a part of the money goes to the selling shareholders and not to the company.
  • This is an SME issue. One lot is 1,600 shares, which is about Rs 1.36 lakh at the upper band of Rs 85, and SME shares usually trade in low volume after listing.

What the money is for

Objects of the issue
Purchase of IT hardware for setting up of Artificial Intelligence (AI) Innovation and Experience Laboratory5.66
Working Capital Requirement24
General Corporate Purposes—

Promoters

  • Satish Kumar Vijayaragavan
  • Sudhakar Aruchamy
  • Ramesh Pratap Tiwari
  • Arun Prasath Ramadoss
  • Deepak Kumar Shenbagarajan
  • Srikanth Audina
  • N Ganesh Kumar
  • Deepak Gupta
Promoter holding80.38%→58.98%before → after the issue · down 21.4 points

Registrar, lead managers and documents

Listing on
BSE SME
Face value
₹ 10 a share
Registrar
Maashitla Securities Private Limited
Basis of allotment
Open

IPO dates, prices, grey market premium (GMP), subscription and the company overview: IPO Guru, updated three times a day. GMP is an unofficial premium from the unregulated grey market. It is not published, verified or regulated by SEBI, NSE or BSE, grey market deals are not legally enforceable, and it is not a reliable indicator of the listing price. Do not apply for an IPO on the basis of GMP. It is not a recommendation of Minerva Capital Research Solutions.

Our recommendations are research opinions, not investment advice. Read the offer document (RHP) and consult your financial adviser before investing.