Tridhya Tech Limited IPO - Review, Price, GMP & Valuation

Tridhya Tech Limited - Complete Overview

Tridhya Tech Limited was established in 2018 in Gujarat with a main focus on delivering software development services and solutions.

The company has gained recognition for its expertise in offering IT consultancy services across various industries such as e-commerce, real estate, transport and logistics, insurance, and other sectors.

Furthermore, Tridhya Tech Limited engages in a wide range of services including e-commerce development, enterprise content management, bespoke web management, mobile app development, API development, product support and maintenance, front-end development, and graphic design.

From the initial stages of product development to post-deployment support, the company ensures comprehensive assistance to clients.

With a strong presence in the international market, Tridhya Tech Limited extends its services to countries including France, Germany, Israel, Italy, Japan, Australia, and more.

In India, the company has established its presence in Maharashtra, Gujarat, Punjab, Telangana, and Karnataka.

Additionally, Tridhya Tech Limited has expanded its portfolio through the complete acquisition of Concentric IT Services Private Limited, Basilroot Technologies Private Limited, and Vedity Software Private Limited, securing 100% equity in each of these entities.

 

 

What does the company do? 

Tridhya Tech Limited has gained recognition as one of the leading SMEs in the industry by providing IT consultancy services to a diverse range of industries and delivering software development services for eCommerce, web, and mobile applications. With a substantial customer base both internationally and domestically, the company has established itself as one of the prominent players in the field

 

Company Products

Tridhya Tech Limited specializes in offering IT consultancy services to a wide range of industries, including e-commerce, real estate, transport and logistics, insurance, and other sectors. In addition, the company provides comprehensive software development services encompassing e-commerce development, enterprise content management, bespoke web management, mobile app development, API development, product support and maintenance, front-end development, and graphic design.

 

IPO Overview

Tridhya Tech SME IPO is set to launch on the NSE SME platform on June 30th, 2023, with the closing date being July 5th, 2023. SME IPOs refer to IPO which are listed for the first time on the BSE SME or NSE Emerge platforms. To be eligible for an SME IPO, companies in India must have a minimum post-issue capital of Rs. 1 crore and a maximum of Rs. 25 crore.

Tridhya Tech Limited's IPO will be listed at an issue price ranging from Rs. 35 to Rs. 40 per share, with a face value of Rs. 10 per share. Retail investors have the opportunity to bid for a maximum of one lot, which consists of 3000 shares.

The total issue size of the IPO is 6,288,000 shares, and it will be listed on the NSE SME platform. Among the total shares, 35% is reserved for retail investors, 15% for non-institutional investors, and 50% for institutional investors.

 

Tridhya Tech Limited IPO timetable

Events	Dates
IPO Opening Date	30 June 2023
IPO Closing Date	05 July 2023
IPO Allotment Date	10 July 2023
Refund Initiation	11 July 2023
IPO Listing Date	13 July 2023

 

Tridhya Tech Limited IPO Details

IPO Opening & Closing Date	30 June 2023 to 05 July 2023
Face Value	Rs 10 per share
Price	Rs 35 to Rs 42 per share
Lot Size	3000 Shares Per Lot
Price of 1 Lot	Rs 126,000
Issue Size	6,288,000 Shares
Fresh Issue	6,288,000 Shares
Listing at	NSE, SME
Issue Type	Book Built Issue IPO
Registrar	Link Intime India Pvt. Ltd.

 

Tridhya Tech Limited IPO Lot Details 

Minimum Lot Investment (Retail)	1 Lot
Maximum Lot Investment (Retail)	1 Lot
Minimum Lot Investment (HNI)	2 Lots

 

Tridhya Tech Limited IPO Reservation

Institution Portion	50%
Non-institution Portion	15%
Retail Portion	35%

 

Company Financials

Amount in Lakhs

Period	31 Mar 2022	31 Dec 2022
Total Assets	2548.77	5969.66
Total Revenue	1407.48	1507.92
Net Profit	339.46	284.97
Net Worth	1457.98	2030.66
Reserve & Surplus	1309.84	1860.35
Total Borrowing	705.46	3090.04

 

Objective of the Issue

The company aims to allocate the raised funds for the following objectives:

• Repaying existing unsecured and secured loans
• Covering expenses associated with the public issue
• Fulfilling general corporate requirements.

 

Promoters and Management of Tridhya Tech Limited

Tridhya Tech Limited is overseen by a team of seasoned professionals. Mr Ramesh Arjanbhai Marand, aged 40, serves as the Managing Director of the company, while Mr Vinay Shivji Dangar, aged 32, holds the position of Whole Time Director.

Both individuals have experienced promoters and currently hold 80.8% of the company's shares before the IPO. Following the IPO, their ownership will be diluted to 58.98%.

 

Peer Comparison 

Companies	EPS	P/E Ratio	RoNW (%)	Total Income (Amount in Lakhs)
Tridhya Tech Limited	23.58		22.37	1354.47
Dev Information Technologies Limited	3.47	30.17	5.53	10005.83
Silverline Technologies Limited	0.05	6359.81	1.36	421.30
Infobeans Technologies Limited	11.51	42.57	13.46	16560.00

 

IPO's Valuations 

Taking into account factors such as the quality of their services, experienced promoters, a skilled team, and the value of their IT services, Tridhya Tech Limited has determined the IPO price range to be between Rs. 35 and Rs. 40 per share, with a face value of Rs. 10. As of December 2022, the company's EPS is reported at 5.67, while the average PE ratio stands at 36.37. The RoNW is 9.97%, and the NAV is 56.58.

 

Dividend Policy

Since its inception, Tridhya Tech Limited has not distributed any dividends. Information regarding the company's dividend policy will only become available once the shares are listed on the stock exchange. The dividend policy will be formulated based on the performance of the company's shares and the composition of its shareholdings.

 

IPO's Strengths 

• Experienced Promoters.
• Comprehensive IT Services across all stages.
• High-Quality Services.
• Skilled Team.
• Robust Global Presence.

 

IPO Weaknesses

• Competition from industry peers.
• Limited domestic market presence.
• Compliance with diverse regulations and legal requirements.

 

 

IPO GMP

The Last GMP of the IPO was +14.

 

Conclusion 

Tridhya Tech Limited, an emerging SME in the IT consultancy and software development sector, demonstrates promising potential with its strong global presence and expansion plans. However, it is essential to acknowledge the inherent risks associated with the IPO carefully. Therefore, it is advisable for investors to conduct a thorough analysis of all relevant factors before making any investment decisions.

 

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To Read the Prospectus of the Company Click Here to Download the DRHP /  Click Here to Download the RHP

 

 

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