The upcoming Infinity Infoway Limited IPO marks a significant event for investors looking to tap into India's tech sector. Infinity Infoway Limited, a rapidly growing Software as a Service (SaaS) provider, is preparing for its Initial Public Offering (IPO) on the BSE SME platform. With a remarkable 92% revenue growth in FY2024 and a strong foothold in the Enterprise Resource Planning (ERP) market, this SME IPO presents a compelling opportunity. The Indian SaaS market, projected to hit $80.24 billion by 2034, provides a fertile ground for the company’s expansion.
Infinity Infoway IPO
- Issue Type: 100% Book Built IPO
- Issue Size: 16,00,000 equity shares (Fresh Issue only)
- Face Value: ₹10 per share
- Price Band: ₹147 – ₹155 per share
- Market Maker Reservation: 80,400 shares
- Employee Reservation: 43,200 shares
- Lead Manager: Holani Consultants Pvt. Ltd.
- Registrar: Bigshare Services Pvt. Ltd.
- Listing At: BSE SME
- Issue Size (Value): ₹24.42 Crores (16,00,000 shares, Fresh Issue only)
While the Draft Red Herring Prospectus (DRHP) was filed on July 31, 2025, the final IPO price band has now been announced.
Infinity Infoway
Originally incorporated in 2008, Infinity Infoway has cemented its position as a leading SaaS company. The company, with its registered office near the water tank, Visvakarma Society, Mavadi Chokdi in Rajkot, Gujarat, has demonstrated significant local and national growth.
Its business model is centered on a SaaS delivery mechanism, ensuring scalability and accessibility for its diverse client base. This includes prestigious educational institutions like Atmiya University, Hemchandracharya North Gujarat University, and Saurashtra University. The company's commitment to innovation is a core part of its identity.
Infinity Infoway IPO Allotment
Investors interested in the IPO can apply using the ASBA process through their bank account or via UPI with registered stock brokers. A demat account is mandatory for participation.
After the issue closes, the Infinity Infoway IPO allotment status can be checked on the registrar’s website (Bigshare Services). Unsuccessful applicants will receive refunds, while successful investors will have shares credited to their demat accounts before the IPO listing.
Infinity Infoway IPO Date
| Event | Date |
|---|---|
| IPO Open Date | September 30, 2025 |
| IPO Close Date | October 3, 2025 |
| Allotment Date | October 6, 2025 |
| Refunds / Unblocking | October 7, 2025 |
| Credit to Demat | October 7, 2025 |
| Listing Date | October 8, 2025 |
| UPI Mandate Cut-off | 5 PM, October 3, 2025 |
- Lot Size: 800 shares
- Retail Minimum Investment: ₹2,48,000 (1,600 shares)
- HNI Minimum Investment: ₹3,72,000 (2,400 shares)
Infinity Infoway Ltd – Financial Performance
The financial performance of Infinity Infoway Ltd has been exceptional.
| Particulars (₹ in Crores) | FY22 | FY23 | FY24 |
|---|---|---|---|
| Revenue from Operations | ₹5.38 Cr | ₹5.38 Cr | ₹10.17 Cr |
| EBITDA | ₹1.29 Cr | ₹1.46 Cr | ₹4.91 Cr |
| EBITDA Margin | 23.9% | 27.1% | 48.3% |
| Net Profit (PAT) | ₹0.94 Cr | ₹0.94 Cr | ₹3.47 Cr |
| PAT Margin | 17.5% | 17.5% | 34.1% |
| Net Worth | ₹0.60 Cr | ₹1.58 Cr | ₹5.03 Cr |
| EPS | ₹2.61 | ₹2.60 | ₹9.60 |
| Return on Net Worth (RoNW) | 156.38% | 59.51% | 68.85% |
| NAV per Share | ₹1.67 | ₹4.37 | ₹13.95 |
Highlights:
- Revenue doubled from FY23 to FY24.
- PAT grew by 269% YoY in FY24.
- EBITDA margin improved to 48.3%, indicating strong scalability.
- NAV per share strengthened to ₹13.95 in FY24.
Objects of the Issue
The net proceeds from the IPO will be strategically utilized by Infinity Infoway Limited to fuel future growth.
- ₹4.97 Cr – Development of proprietary product ZeroTouch Device-as-a-Service (DaaS).
- ₹3.20 Cr – Technology upgrades.
- ₹3.70 Cr – Marketing.
- ₹1.78 Cr – Acquiring IT hardware.
- Balance – General corporate purposes.
Customized Cloud-Based ERP
Infinity Infoway specializes in providing customized cloud-based ERP solutions.
Its flagship iERP software is a comprehensive platform with modules for:
- Financial management
- Human resources
- Supply chain management (SCM)
- Customer relationship management (CRM)
The company’s technology is particularly strong in the education sector, with solutions aligned to the National Education Policy 2020. This focus provides it a unique competitive advantage in education, manufacturing, and construction verticals.
Company Infinity Infoway – Strengths and Risks
Strengths:
- Strong growth in revenue and profitability.
- High margins and RoNW above industry averages.
- SaaS delivery ensures scalability.
- Expanding into Device-as-a-Service (DaaS).
Risks:
- Client concentration – top 10 clients form a large revenue share.
- Geographic concentration – major revenue from Gujarat.
- SME listing risk – limited liquidity compared to mainboard IPOs.
Conclusion
The Infinity Infoway IPO offers investors exposure to India’s fast-growing SaaS and ERP sector. With revenue growth, high return ratios, and strong product innovation, the company presents a compelling case for investors.
However, risks like client/geographic concentration and SME market volatility must be considered. For those bullish on India’s tech-enabled SaaS growth story, the Infinity Infoway IPO is worth close attention.
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