Everestims IPO draws 274x demand for its $5.03M offering
What's the deal? Bengaluru-based software company Everestims TechnologiesDealroom has a profile for this one. Try Dealroom → closed its maiden IPO subscribed nearly 274 times on October 5, the final day of bidding. The company raised US$6.58M (roughly $5.03 million) by selling 57 lakh shares at the upper end of its US$1.09–US$1.15 price band, valuing it at US$25M.
What's the demand look like? Investors bid for 111.87 crore shares against an offer of 40.88 lakh, worth US$1.29B at US$1.15 per share. Non-institutional investors led at 406 times their quota, with retail at 268 times and qualified institutional buyers at 149 times.
The structure: The offering combined a fresh issue of 45.93 lakh shares with an offer-for-sale of 11.07 lakh shares by promoters and employees. Shares were trading at a 49% premium in the unofficial grey market ahead of listing.
What's the endgame? Everestims sells software-as-a-service and on-premises products for digital transformation, IT operations, and service management, with AI-enabled solutions. It plans to spend US$767.3K of fresh-issue proceeds on IT hardware for an AI innovation lab this fiscal year, and US$3.26M on working capital.
By the numbers: The company reported a profit of US$1.78M for the year ended March 2026, down 6.66% from US$1.91M a year earlier. Revenue rose 15.2% to US$8.84M from US$7.67M.
Why now? Allotment is expected to be finalised by October 6, with trading set to begin on the BSE SMEDealroom has a profile for this one. Try Dealroom → platform on October 8. Oneview Corporate Advisors is the sole merchant banker on the deal.
The signal: The scale of oversubscription on a small-cap SME listing underscores strong investor appetite for AI-branded software plays, even where profits are slipping.
Read more: msn.com
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