211  Total SME IPOs listed in 2025

9,659.65 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

211  Total SME IPOs listed in 2025

9,659.65 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

211  Total SME IPOs listed in 2025

9,659.65 Crs.  Total funds raised in 2025

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

211  Total SME IPOs listed in 2025

9659.65 Crs.  Total funds raised in 2,025.00

144  SME IPOs listed with Gain in 2025

67  SME IPOs listed with loss in 2025

Infinity Infoway IPO Review

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Infinity Infoway IPO Date
  • IPO Open Date:
    30 Sep 2025
  • IPO Close Date:
    3 Oct 2025
  • IPO Allotment Date:
    6 Oct 2025
  • Tentative Refund Date:
    7 Oct 2025
  • IPO Listing:
    8 Oct 2025
Check Infinity Infoway IPO GMP

Infinity Infoway IPO Overview

Sector Update

Infinity Infoway Limited caters to Information Technology - SaaS sector; provides specialized customized and integrated Enterprise Resource Planning (ERP) solutions across multiple industries, including education, manufacturing, retail, and construction. 

Growth drivers

Primary focus is on the education sector, which forms a significant part of ERP business. Over the past three fiscal years the company has deployed “Campus Management System” in 26 universities across India. It has active annual maintenance Contracts (AMC) in place with 22 universities, ensuring ongoing support and operational continuity of the software solutions provided. 

Financial Update:
(comparison of FY24 FY25 )
Revenue ₹10.17 cr ₹13.19 cr (+29.70%)
PAT ₹3.46 cr ₹4.19 cr (+21.10%)
PAT Margin 34.02 % 31.77 % (-6.61%)
EBITDA ₹4.91 cr ₹6.16 cr (+25.46%)
EBITDA Margin 48.28 % 46.70 % (-3.27%)
ROE 68.79 % 33.04 % (-51.97%)
ROCE 85.01 % 43.95 % (-48.30%)
D/E 0.10 0.02 (-80.00%)
Business Diversification

(SaaS) company primarily engaged in the business of providing customized and integrated Enterprise Resource Planning (ERP) solutions to clients across various sectors, provides “Online Examination System” (OES) system to educational institutions. Infinity also developed a self-learning platform “Brainzorg” to offer digital education courses.

IPO Valuation

PE Ratio: 19.64x Average Sector PE Ratio: 14.20x

Infinity Infoway IPO Reservation

Infinity Infoway IPO Share Allocation
QIB Shares Offered: 680800
- Anchor Investor Shares Offered: 408000
− QIB (Ex. Anchor) Shares Offered : 272800
NII (HNI) Shares Offered: 206400
- bNII > ₹10L: 137600
- sNII < ₹10L: 68800
Retail Shares Offered: 479200
Total Shares Offered: 1366400
Infinity Infoway IPO Lot Size
Application Lot Shares Amount
Individual investors (Retail) (Max) 2 1600 ₹248000
S-HNI (Min) 3 2400 ₹372000
S-HNI (Max) 8 6400 ₹992000
B-HNI (Min) 9 7200 ₹1116000

Interesting facts about IPO

IPO Size: ₹ 24.42 Cr.

Avg IPO Size (Sector Based):

₹ 23.07 cr.


SME IPO so far in this sector:

14

Merchant Banker: Holani Consultants

SME IPO by BRLM so far:

15


SME IPO so far in this city:

34

PE Ratio: 19.64

Average Sector PE Ratio:

14.20 X

Price Band (Upper): ₹ 155.00

Listing Price:

₹ 294.50

Business Profile

Infinity Infoway is a Software as a Service (SaaS) provider specializing in delivering customized and integrated Enterprise Resource Planning (ERP) solutions across multiple industries, including education, manufacturing, retail, and construction. In the education sector, the Company offers a dedicated Online Examination System (OES) used by schools, colleges, and universities for conducting examinations and securely distributing question papers. Additionally, the Company has developed “Brainzorg”, a self-learning digital platform that offers curated educational content for students across various academic standards. The ERP offerings are modular, covering areas such as Supply Chain Management (SCM) and Customer Relationship Management (CRM). The Company deploys these ERP systems on the client’s server and engages in long-term maintenance contracts. Its revenue model includes both deployment fees for new installations and Annual Maintenance Contracts (AMC) for ongoing support.

Strengths and Challenges as per DRHP

Strengths Image
  • AI enabled products developed in line National Education Policy-2020. 
  • Customized solutions and quality assurance protocols 
  • Strong profitability margins over last three years
Strengths Image
WEAKNESSES Image
  • Geographical concentration in Gujarat.
Strengths Image
S
W

Comparison of Infinity Infoway IPO with Listed peers/Listing Gains (as per DRHP)

Company Name
Basic EPS
Diluted EPS
FV
PE
RoNW %
NAV
Revenue
Infinity Infoway Limited
11.26
11.26
10
33.06
32.70
13.19
Vertexplus Technologies Limited
1.60
1.60
10
62.50
3.67
43.90
18.34
Company Name Basic EPS Diluted EPS FV PE RoNW % NAV Revenue
Infinity Infoway Limited 11.26 11.26 10 33.06 32.70 13.19
Vertexplus Technologies Limited 1.60 1.60 10 62.50 3.67 43.90 18.34
Notes
  • Considering the nature and size of the business of the Company, the peer is not strictly comparable. However, the above Company have been included for broad comparison.
  • Basic EPS and Diluted EPS refer to the Basic EPS and Diluted EPS sourced from the financial statements of the respective company for the year ended March 31, 2025.
  • P/E Ratio has been computed based on the closing market price of equity shares on Stock exchange (National Stock Exchange of India Limited) as on May 30, 2025 divided by the Diluted EPS provided above in the table.
  • For listed peer, RoNW is computed as profit after tax for the year ended March 31, 2025 divided by Total equity net of minority interest.
  • Total Equity has been computed as sum of paid-up share capital and other equity.
  • Net Asset Value per share (“NAV”) (in ₹) is computed as the closing net worth divided by the equity shares outstanding as on March 31, 2025.
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Comparison of Infinity Infoway IPO with some Listed peers/Listing Gains in the Similar sector

Select Listed IPO for Comparison:
Basis
Infinity Infoway IPO
vs
vs
vs

IPO Date
8th Oct 2025


IPO Size
₹ 24.42 Cr.

Total Assets
₹ 14.92 Cr.

Revenue
₹ 13.19 Cr.

PAT
₹ 4.19 Cr.

PAT Margin
31.77 %

Leverage Ratio
0.02 x

PE Multiple
19.64 x

EV/EBITDA
12.78 x

Notes:
1) All the above data is at the time of IPO
2) Revenue and Pat is taken on annualised basis

Infinity Infoway IPO Objectives (Objects of Offer) and expected Utilisation

Development of Proprietary Technology Solution called “ZEROTOUCH 375.00 DaaS” (Device as a Service) (“Proposed Project”)
3.75

Purchase of new IT Infrastructure and Certification
2.61

Funding of Tender Deposits and Earnest Money Deposits (EMD) towards Tenders
4.00

Funding the incremental Working Capital Requirements of our Company
8.58

General corporate purposes
[●]

Track Record of (Merchant Banker)/merchant Banker Report

Holani Consultants Private Limited, based in Jaipur is the Lead Manager (BRLM) of Infinity Infoway IPO. Holani Consultants Private Limited has handled (17) SME IPOs till date of which (76%) of the SME IPOs have been listed with listing gains. Read full review of Holani Consultants Private Limited .

Read more details of this IPO

Peer Companies Of This Sector

FAQs

Infinity Infoway IPO may offer opportunites, depending on your investment strategy. For in-depth analysis, risk factors, and KPIs, check our detailed report on Infinity Infoway Financial Review Page

Infinity Infoway IPO subscription was 277.24 X. IPO subscription refers to applications received in an IPO by each quota, i.e., QIB, Retail, and NII. In some IPOs, Eligible employee quota and shareholder’s quota are also present. Learn more about IPO subscriptions here.

Infinity Infoway IPO listed at a listing price of 294.50 against the offer price of 155.00.

The current market price of Infinity Infoway is 309.20.

Services

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