EverestIMS Technologies
- EverestIMS Technologies is coming out with an initial public offering (IPO) of 57,00,800 shares in a price band of Rs 80 - 85 per equity share.
- The issue will open for subscription on September 29, 2026 and will close on October 05, 2026.
- The shares will be listed on SME Platform of BSE.
- The face value of the share is Rs 10 and is priced 8.00 times of its face value on the lower side and 8.50 times on the higher side.
- Book running lead manager to the issue is Oneview Corporate Advisors.
- Compliance officer for the issue is Sridharan S Yadav.
Profile of the company
EverestIMS Technologies is a software company that provides both Software as a Service (SaaS) and on-premises products and services. It specializes in digital transformation, IT Operation and Service Management incorporating AI enabled product solutions where applicable to help businesses streamline their IT operations, improve efficiency, and enhance user experiences.
Its SaaS-based and on-premise products and services feature advanced capabilities such as AI for IT Operations Management (AIOps), Generative-AI Powered IT Service Management (ITSM), IT Infrastructure Management (ITIM), Network Change and Configuration Management (NCCM), IT Asset Management (ITAM) and Operations Support System (OSS). Its SaaS solutions are hosted on cloud infrastructure, providing users with easy access through a web browser on a subscription basis, without the need for maintaining local infrastructure or software installations. On the other hand, its on-premise products and services are installed, managed, and maintained within the customer’s own data center or local infrastructure, offering greater control and customization.
It offers comprehensive solutions that enable businesses to remotely monitor critical network devices, servers, applications, and more to reduce downtime, improve service delivery, and streamline IT operations through its flagship platform 'Infraon Infinity'. It is committed to helping its customers succeed and grow by simplifying and enhancing IT service and operations management ensuring greater efficiency and streamlined workflows. Its go-to-market strategy consists of direct sales and channel partner network. It engages in direct sales through both the company and its subsidiary, Infraon Corp, located in the USA. In addition, it engages with domestic & international channel partners, distributors and sales agents who identify potential customers, work jointly with it to qualify and close deals, and serve as the primary intermediaries for managing customer relationships.
Proceed is being used for:
- Purchase of IT hardware for setting up of Artificial Intelligence (AI) innovation and experience laboratory
- Funding of working capital requirement
- General corporate purposes
Industry overview
IT operations and service management (ITOSM) solution includes two scopes: IT Operations Management (ITOM) and IT Service Management (ITSM). ITOM is an essential component that helps IT businesses ensure their system is secure, reliable, and compliant with industry regulations and best practices. It helps them streamline processes and reduce manual labor, allowing the business to focus on other crucial business goals and productive tasks. The common functions of ITOM include IT help desk, laptop provisioning, device management, network infrastructure management, and server management, among others. ITSM solution helps manage processes and activities involved in various services such as developing or procuring software, which must be secure and managed, along with laptops and mobile devices. ITSM also helps in delivering these services efficiently to end users. ITSM framework includes problem management, service level management, and asset management, among others.
In terms of value, the IT operations and service management market in India was valued at $1,011.55 million in 2023 and is projected to reach $2,665.58 million by 2031; it is expected to register a CAGR of 12.9% from 2023 to 2031. The IT Operations and Service Management (ITOSM) market in India is experiencing growth owing to a rapidly expanding digital landscape and an increasing focus on technological advancements. The Bring Your Own Device (BYOD) culture has gained significant traction in India, as it offers employees flexibility and convenience. In India, 75% of workers are highly interested in BYOD policies. This demonstrates and inspires other countries that have yet to adopt the practice and contributes to the widespread use of BYOD in many businesses.
The trend of BYOD has necessitated the implementation of ITOSM solutions that cater to the challenges of managing a diverse range of devices and ensuring secure access to corporate data. As more organizations adopt BYOD policies, the demand for ITOSM tools and services is expected to grow in the coming years. Additionally, in July 2024, HCL Tech and IBM launched generative AI Centers of Excellence in India, the UK, and the US. The new partnership will empower enterprises to develop IT Service Management (ITSM) use cases, reduce coding complexity, improve skill development on the IBM Watson platform, and enable ongoing innovation.
Pros and strengths
Fully integrated platform: Its fully integrated ‘Infraon Infinity’ platform provides a variety of modules and AI-powered features for both On-Premises and SaaS customers. Typically for different IT service and operation management need by the customers they would require multiple tools to fulfil their needs, whereas its unified platform fulfils all the requirement with its single platform. This makes it easier for the customer to maintain, boosts their efficiency, and ensures smooth support for them.
Cordial relationship with channel partners: As a channel partner-focused company, it empowers its partners with comprehensive support and provides free training to ensure they fully understand its products and services, enabling them to offer right solution to their customers. Additionally, it assists partners in increasing their revenue by training them to deliver professional services to the customers. Its technical training ensures that channel partner’s technical teams can support customers effectively. By assisting its channel partners grow their business, it intents to strengthen cordial relationships with its channel partners and drive mutual growth and increase revenue.
Diversified platform development and market expansion: It has developed its platform with a comprehensive range of offerings in ITIM, AIOPS, ITSM, ITAM, and OSS space. This has enabled it to expand its product and service portfolio, providing both SaaS and On Premises solution to a diverse range of customers, including large enterprises, telecom operators, and small to medium-sized businesses (SMBs). It remains committed to tracking emerging technologies, industry segments, and market trends in the ITOM, ITSM, AIOPS, AISM, and OSS.
Risks and concerns
Rapid technological changes and product innovation risks: Its success depends substantially on its ability to anticipate and respond to rapid technological changes in the Information Technology industry, develop and upgrade its products and service offerings to meet evolving client needs, maintain and expand its technological capabilities, and effectively manage its strategic technology alliances. The IT industry is characterized by rapid technological advancements, evolving industry standards, changing client preferences and requirements, frequent introduction of new products, features, services and solutions, and emerging disruptive technologies. It may faces significant challenges, including its inability to anticipate or respond to technological advances in a timely manner, failure to develop commercially successful products and services, unsuccessful management of new product/service introductions or transitions, difficulties in stimulating customer demand for new and upgraded products and services, potential technological obsolescence of its products and service offerings, and challenges in maintaining strategic technology alliances. Additionally, its current products or services may become outdated or less competitive, and it may be unable to successfully enhance its existing products or develop new ones in a timely manner.
Uncertainty in channel partner relationships and distribution: The absence of comprehensive, legally binding contracts with all of its registered channel partners exposes it to potential risks such as uncertain partnership terms, unpredictable sales collaborations, and potential disruptions in its distribution networks. Without formal agreements, it may face challenges in maintaining consistent product positioning and market access through its channel partners. Additionally, the lack of contractual frameworks could limit its ability to negotiate favourable terms and establish long-term strategic alignments with its channel partners. These uncertainties may impact its competitive positioning, revenue predictability, and overall business growth potential in its market segments.
Dependence on significant working capital for continued growth: Its business is working capital intensive and requires a significant amount of working capital for smooth functioning. It intends to continue growing by expanding its business operations. The results of operations of its business are dependent on its ability to effectively manage its incremental working capital requirements. It estimates its revenue based on the forecast, demand and requirements and also on the customer specifications. A liquidity crunch may also result in increased working capital borrowings and, consequently, higher finance cost which will adversely impact its profitability. Its growing scale and expansion, if any, may result in increase in the quantum of working capital. Its inability to maintain sufficient cash flow, credit facility and other sourcing of funding, in a timely manner, or at all, to meet the requirement of working capital or pay out debts, could adversely affect its financial condition and result of its operations.
Outlook
EverestIMS Technologies is engaged in the software product engineering, developing and selling software products and solutions, all kinds of software services including custom software development, software maintenance, architecture, application migration and training and providing information technologies related services. Product-Led Growth (PLG) is a business strategy where the product itself drives customer acquisition, expansion, and retention, focusing on delivering value directly through the product to attract and retain users. On the concern side, its success depends largely on its ability to attract and retain skilled personnel. Its employee benefits expenses were Rs 2,204.25 lakh, Rs 2,337.96 lakh, and Rs 1,876.90 lakh, representing 33.44%, 40.46%, and 41.15% of its Total Income for the Fiscal 2026, Fiscal 2025, and Fiscal 2024, respectively. High attrition or its inability to attract and retain such personnel in this highly skilled and technical employee-intensive industry could adversely affect its business and results of operations.
The company is coming out with a maiden IPO of 57,00,800 equity shares of face value of Rs 10 each. The issue has been offered in a price band of Rs 80-85 per equity share. The aggregate size of the offer is around Rs 45.61 crore to Rs 48.46 crore based on lower and upper price band respectively. On performance front, revenue from operations increased 15.18% from Rs 5,654.30 lakh in Fiscal 2025 to Rs 6,512.39 lakh in Fiscal 2026. Profit after tax decreased 6.66% from Rs 1,407.70 lakh in Fiscal 2025 to Rs 1,313.93 lakh in Fiscal 2026.
Meanwhile, it plans to grow its global presence, beginning with its initial product sales and continuing to expand its footprint globally. Currently, it has customers in countries like UAE and Malaysia. Its expansion plans include recruiting new partners, hiring sales and customer service personnel in additional market ensuring a more personalized and efficient customer experience and further strengthening its presence in countries where it is already established channel partners. Going forward, it aims to drive new customers sales across various verticals including government, telecom, mid-sized organizations, SMBs, and large enterprises. As more companies adopt cloud services and undergo digital transformation, it expects to expand its customer base, contributing to higher revenue growth and new customer sales. To achieve this, it plans to invest in strengthening and expanding its sales and marketing team including its existing workforce.
