EverestIMS Technologies IPO opened on Day 1 with total subscription hitting 0.04x by 12:15 IST, driven by a 133% surge in Retail bids to 0.07x.

Subscription Status

The issue witnessed early traction primarily from the Retail segment. By the 12:15 IST snapshot, the total subscription stood at 0.04x, doubling from the 0.02x recorded at 11:15 IST. The sHNI category maintained its initial lead at 0.07x, while QIB and bHNI segments had yet to register any bids.

Intra-day Timeline on 29-09-2026

Retail activity picked up pace significantly between the first two hours of trading. The category moved from 0.03x to 0.07x, contributing to the overall doubling of the total subscription figure.

Category-wise Breakdown

The Retail segment emerged as the primary driver of early demand, jumping +133.3% from the day's opening levels. The sHNI category held steady at 0.07x. Institutional investors (QIB) and big HNIs (bHNI) showed no subscription activity at the latest data point.

Offer Details

About the Company

EverestIMS Technologies Limited, incorporated on 13 April 2017 and headquartered in Bengaluru, is a software company offering SaaS and on-premises IT Operation and Service Management (ITOSM) solutions under the brand 'Infraon'. Its flagship platform, 'Infraon Infinity', delivers AI-enabled capabilities spanning AIOps, ITSM, ITIM, NCCM, ITAM, and OSS. The company serves enterprises, telecom operators, and SMBs through direct sales and a channel partner network, with a presence in India, UAE, Malaysia, and other international markets. The company is led by MD Mr. Satish Kumar Vijayaragavan and CEO Mr. Sudhakar Aruchamy.

Financial Highlights

Revenue from Operations grew from ₹45.23 crore in FY2024 to ₹65.12 crore in FY2026. The company reported an EBITDA margin of 35.41% and a PAT of ₹13.14 crore for FY2026.

Objects of the Issue

• Purchase of IT Hardware for AI Innovation and Experience Laboratory: ₹5.66 crore towards laptops, servers, storage, and switches for an AI Innovation and Experience Laboratory within existing premises.
• Funding of Working Capital Requirements: ₹24.00 crore to meet incremental working capital requirements for the projected fiscal year.
• General Corporate Purposes: Balance of net proceeds for operating expenses, business development, marketing, and strategic initiatives, subject to a cap of 15% of the amount raised or ₹10 crore, whichever is lower.

Risk Factors

• Customer and Supplier Concentration Risk: The top 10 customers contributed 88.77%, 86.31%, and 88.89% of revenue in FY2026, FY2025, and FY2024 respectively; top 10 suppliers accounted for 99.62%–100% of total purchases.
• Working Capital Intensity and Liquidity Risk: Working capital requirements grew to ₹3,522.28 lakhs in FY2026 from ₹2,343.23 lakhs in FY2024; inability to maintain sufficient cash flow or credit facilities could adversely affect operations.
• Negative Cash Flows from Investing Activities: Investing cash outflows were ₹875.72 lakhs, ₹275.29 lakhs, and ₹655.68 lakhs in FY2026, FY2025, and FY2024 respectively.
• Dependence on Key Personnel and High Attrition Risk: Employee benefits expenses represented 33.44%, 40.46%, and 41.15% of total income in FY2026, FY2025, and FY2024 respectively.
• Cybersecurity Threats and Data Privacy Compliance Risk: IT-dependent operations are vulnerable to unauthorized access, data breaches, and evolving data privacy regulations.

What's Next

The IPO remains open until 5 October 2026. Allotment is scheduled for 6 October 2026, with shares expected to list on 8 October 2026.