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Prodocs Solutions Ltd.

Prodocs Solutions Ltd.

PRODOCSSME

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Overview

Prodocs Solutions Limited, incorporated in 2019, is an IT-enabled services (ITES/BPO) company specializing in the non-voice segment. The company offers a diverse range of services including Indexing, Title Services for the real estate and mortgage industries, and e-Publishing solutions. Prodocs Solutions primarily serves clients in the US and Australia from its delivery centers in Mumbai and Bangalore, supported by a workforce of over 1,000 employees. The company holds ISO 9001, ISO 14001, and ISO 27001 certifications, emphasizing its commitment to quality, environmental management, and information security.

Opening Date

Dec 08, 2025

Closing Date

Dec 10, 2025

Listing Date

Dec 15, 2025

IPO Type

SME

IPO Status

Closed

Issue Size

27.6 Cr

Fresh Issue

22.08 Cr

Offer for Sale

5.52 Cr

Price Band

₹131 - ₹138

Lot Size

1000

IPO Timeline

Dec 08, 2025
Open Date
Dec 10, 2025
Close Date
Dec 11, 2025
Allotment Date
Dec 12, 2025
Initiation of Refunds
Dec 15, 2025
Listing Date

Financials

Revenue

Profit After Tax (PAT)

IPO Objective

The net proceeds from the Fresh Issue are proposed to be utilised towards funding the following objects:

  • To fund the design, development, and implementation of a tailored AI-based software platform to modernize and automate service delivery processes across title services, e-publishing, and indexing, with a total estimated cost of 4.43 crores.

  • To finance capital expenditure of 3.93 crores for the purchase and installation of IT equipment, computer hardware, and ancillary items to support new employees and replace aging assets.

  • To repay and/or pre-pay, in full or part, certain outstanding borrowings availed by the company, amounting to approximately 3.77 crores, to reduce debt-servicing costs.

  • To fund the working capital requirements of the company to the extent of 4.50 crores to support operational needs and business growth.

  • To allocate the remaining funds for general corporate purposes, which may include strategic initiatives, business development, and other operational needs not exceeding 15% of the Gross Proceeds of the Fresh Issue.

Key Performance Indicator

P/E Ratio

EPS

ROE

26.62%

ROCE

27.12%

RONW

26.62%

Debt to Equity Ratio

PAT Margin

11.94%

EBITDA Margin

19.57%

P/B

SWOT Analysis

Strengths

  • Provides integrated end-to-end solutions across multiple domains like Indexing, Title Services, ePublishing, and Litigation support.

  • Strong commitment to quality and security, holding ISO 9001:2015, ISO 14001:2015, and ISO 27001:2022 certifications.

  • Established global reach with a diverse clientele primarily in the US and Australia.

  • Experienced management team with over 50 years of combined experience and deep industry expertise.

Weaknesses

  • Significant reliance on Promoter Group entities, eData Solutions Inc and eData Services Inc, for a high percentage of revenue.

  • History of negative cash flows in past financial periods, which could impact operational stability if repeated.

  • Instances of delays in filing statutory and regulatory dues with government authorities in the past.

  • Exposure to conflicts of interest due to related party transactions and similar business activities carried out by subsidiaries and group companies.

Opportunities

  • Expansion of global presence and diversification of the client base beyond the US and Australia to mitigate concentration risk.

  • Leveraging emerging technologies like AI and automation to enhance service efficiency and develop new offerings.

  • Growth in the Business Process Solutions (BPS) industry, driven by global digital transformation initiatives.

  • Potential to capitalize on the growth of sunrise sectors in India by offering specialized BPS services.

Threats

  • Increased competition from emerging low-cost outsourcing destinations like the Philippines, Vietnam, and Poland.

  • Stringent data privacy and security regulations (e.g., GDPR, DPDP Act) which increase compliance costs and risks.

  • Talent shortage in emerging technology areas and high attrition rates in the BPS industry, leading to increased operational costs.

  • Heavy reliance on US and European markets, making the business vulnerable to economic downturns and protectionist policies in these regions.

Subscription Rate

CategoryShares Bid ForShares OfferedTimes Subscribed
Non-Institutional Investors4.92 L3.00 L1.64x
Retail Individual Investors2.36 L6.70 L0.35x
Total7.28 L13.42 L0.54x