This company listed within the last twelve months, so its prospectus is still the primary source. The figures below were extracted from the DRHP and RHP before listing and scored then, and they are shown here as they stand in the IPO record rather than restated.
Each flag is a fact read in the filing, shown with the context that makes it meaningful.
Stated objects, as worded in the offer document. Deployment against them is tracked separately.
Claims made in the offer document, to be read against what the company has reported since.
Incorporated in 2017 and headquartered in Bengaluru, Karnataka, EverestIMS Technologies Limited is an Indian software product company specializing in IT Operations Management (ITOM), AI-enabled IT Service Management (ITSM), and Operations Support Systems (OSS) for telecom operators, large enterprises, and SMBs. Its flagship unified platform, 'Infraon Infinity', integrates modules including IT Infrastructure Management (ITIM), AIOps, Network Configuration and Change Management (NCCM), IT Asset Management (ITAM), and telecom OSS. The business model generates revenue through software license sales (on-premises) and subscription fees for cloud-hosted SaaS solutions, alongside IT support/consultancy services. In FY26, domestic software product sales contributed 71.79% (Rs. 46.7578 crore), export software product sales contributed 5.06% (Rs. 3.2979 crore), domestic service sales contributed 14.10% (Rs. 9.1814 crore), export service sales contributed 0.97% (Rs. 0.6328 crore), and domestic hardware sales contributed 8.07% (Rs. 5.2540 crore) of total operating revenue. Top 10 customers accounted for 88.77% of FY26 revenue, while top 10 suppliers accounted for 99.62% of purchases. The company operates a wholly owned US subsidiary, Infraon Corp, to drive overseas distributor sales in global markets.
Proprietary unified platform 'Infraon Infinity' integrating AIOps, ITSM, ITIM, and telecom OSS; established presence across telecom, BFSI, and government sectors; product-led growth strategy with direct sales and global channel partner network.
EverestIMS Technologies Limited is a software product company providing SaaS and on-premises IT Operations Management (ITOM), IT Service Management (ITSM), and telecom Operations Support System (OSS) solutions under its flagship platform 'Infraon Infinity'.
Source: p.123, 124, 127, 129, 131
The comparable set the company chose, which is itself a disclosure.
As presented in the offer document. Post-listing figures are in the statements above.
| Basis | Period | Related party revenue cr | Pat cr | Pat margin | Revenue cr | Pat margin derived | Cff cr |
|---|---|---|---|---|---|---|---|
| consolidated | FY26 | 0 | 13.1393 | 20.18% | 65.1239 | yes | -0.0194 |
| consolidated | FY25 | 0 | 14.077 | 24.9% | 56.543 | yes | 0.0373 |
| consolidated | FY24 | 0 | 10.8308 | 23.95% | 45.228 | yes | -0.2652 |
The measures this sector is actually judged on, as disclosed in the document. No feed supplies these.
Written before listing, answered from the document itself.
How are the fresh issue IPO proceeds allocated across AI lab infrastructure, working capital, and general corporate purposes?
Fresh issue proceeds are allocated as: Rs. 5.6556 crore for purchase of IT hardware for setting up an AI Innovation and Experience Laboratory, Rs. 24.0000 crore for funding working capital requirements, and the balance for General Corporate Purposes (capped at 15% of issue proceeds or Rs. 10.00 crore, whichever is lower).
p.95, 108, 114
What is the promoters' shareholding pre-issue and their acquisition cost history?
Promoters Satish Kumar Vijayaragavan, Sudhakar Aruchamy, Arun Prasath Ramadoss, Ramesh Pratap Tiwari, Deepak Kumar Shenbagarajan, Srikanth Audina, Ganesh Kumar Nagaiah, and Deepak Gupta hold 84.50% pre-issue equity (14,400,000 shares out of 17,044,578 pre-issue shares). Promoter shareholding was expanded through bonus issues in April 2022 (3:1 ratio) and November 2024 (8:1 ratio), establishing a promoter average cost of acquisition (WACA) of Rs. 0.29 per share.
p.72, 85, 88
What are the key related-party transactions, subsidiary operations, and promoter debt support?
The company has one wholly owned US subsidiary, Infraon Corp, which acts as an overseas distributor (total assets Rs. 0.6191 crore, FY26 revenue Rs. 0.5467 crore). Related party transactions with group entity Vedanshi Infotech Pvt Ltd involved lease rentals of Rs. 0.0819 crore. Key managerial remuneration totaled Rs. 1.5900 crore in FY26. The company has no outstanding unsecured promoter loans or bank debt as of March 31, 2026.
p.56, 58, 176, 235, 273
How did operating cash flow perform relative to restated net profits over FY24 to FY26?
Restated PAT stood at Rs. 10.8308 crore in FY24, Rs. 14.0770 crore in FY25, and Rs. 13.1393 crore in FY26. Operating Cash Flow (CFO) remained positive across all three years (+Rs. 5.3248 crore in FY24, +Rs. 2.6307 crore in FY25, and +Rs. 9.2016 crore in FY26), though working capital was absorbed by trade receivables reaching Rs. 51.9620 crore in FY26.
p.35, 37, 53, 54, 239, 240
What secretarial, statutory compliance, litigation, and tax findings exist for the company?
The company disclosed no pending criminal, tax, or material civil litigation against the company, promoters, or directors. Statutory auditor M/s S H & Co. resigned in October 2024 to appoint peer-reviewed auditor M/s CGSS & Associates LLP. Administrative delays in EPF deposits were disclosed. Outstanding MSME supplier dues stood at Rs. 6.4456 crore as of March 31, 2026.
p.27, 52, 63, 162, 235, 251, 287, 288
What are the application lot terms, retail ticket requirements, market maker details, and exit constraints for public investors?
The offer is listed on BSE SME with a minimum retail application requirement of 2 lots (minimum application size above Rs. 2.00 lakhs). Trading occurs strictly in standardized market lots, and because lots are indivisible, partial exit or fractional lot trading is impossible. KG Stock Broking Private Limited is the Market Maker with 286,400 reserved shares (5.02%) and a mandatory 3-year obligation period. Standard SME 5% price circuit limits apply.
p.1, 10, 69, 70, 213, 298
What the issue priced at, on the figures in the document.
How the book filled. A category that bid far above the rest is a different signal from a uniformly covered issue.
| Date | Name | Shares | Price per share | Category | Issue type | Source |
|---|---|---|---|---|---|---|
| 2017-08-28 | Promoters & Initial Subscribers to MOA | 10000 | 10 | promoter | initial | p.71, 72 |
| 2018-03-31 | Promoters & Key Personnel | 1822000 | 10 | promoter | preferential | p.71, 72 |
| 2024-10-15 | Promoters (Consolidation 1:10) | 1893842 | 10 | promoter | split | p.71, 72 |
| 2024-11-09 | Existing Shareholders (Bonus 8:1) | 15150736 | 0 | promoter | bonus | p.72, 85 |
| 2026-09-16 | Kedia Securities Private Limited | 642880 | 68 | financial investor | transfer | p.85, 89 |
Ceo: Satish Kumar Vijayaragavan
No outstanding criminal, regulatory, statutory, or material civil litigation proceedings involving the Company, Promoters, Directors, or Subsidiary.
Auditor name: M/s CGSS & Associates LLP, Chartered Accountants
Skin in game: Promoters hold 84.50% pre-issue shareholding (14,400,000 equity shares out of 17,044,578 pre-issue equity shares).
Auditor changed last 3y: Yes
Source: p.1, 55, 63, 214, 219, 235, 250, 287, 288
Transactions with promoters, directors and their entities, as disclosed.
| Counterparty | Amount cr | Nature | Relationship | Core function | Source |
|---|---|---|---|---|---|
| Infraon Corp (US Subsidiary) | 0.5467 | sale | promoter-owned entity | yes | p.176, 273 |
| Vedanshi Infotech Private Limited | 0.0819 | rent | group company | no | p.273 |
| Satish Kumar Vijayaragavan | 0.36 | remuneration | director | yes | p.172, 272 |
| Sudhakar Aruchamy | 0.36 | remuneration | director | yes | p.172, 272 |
| Arun Prasath Ramadoss | 0.36 | remuneration | director | yes | p.172, 272 |
| Ramesh Pratap Tiwari | 0.27 | remuneration | director | yes | p.172, 272 |
| Deepak Kumar Shenbagarajan | 0.24 | remuneration | director | yes | p.172, 272 |
Disclosed instances of administrative delays in depositing statutory dues including EPF across FY24, FY25, and FY26. Outstanding dues to MSME suppliers stood at Rs. 6.4456 crore as at March 31, 2026.
Defaults disclosed: Yes
Source: p.27, 162, 230, 252, 289
Models that need these lines are withheld rather than estimated: two comparable financial years. Nothing on this page is back-solved from a figure the company did not publish.
Set your own assumptions and watch the numbers move. A scenario calculator — the outputs are the arithmetic of your inputs.
What this sector is read on: Constant-currency growth QoQ, Constant-currency growth YoY, EBIT margin, Deal TCV, Net headcount adds, LTM attrition, Utilisation, Top-5 client share. These come from the filings, not the market feed, and appear here once a quarter is read.
Read using the IT services framework (from the listed sector). Primary valuation lens: P/E on constant-currency growth.
Read more closely in this sector: Large deal ramp-downs or client losses named · Pass-through revenue · Onsite and offshore mix shift · Deal TCV against revenue growth.
The same read, applied to the companies this one competes with.