Wherrelz IT Solutions IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Nov 16, 2022Let’s have a detailed review of the company and analytics of the Wherrelz IT Solutions IPO release date, IPO offer price, subscription, Wherrelz IT Solutions Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Cash Price | Rs 171 |
| Listing At | BSE Startup |
| Min. Order Quantity | 800 Shares |
| Listing Date | Dec 29, 2021 |
| Offer for Sale | Rs Lakh |
| Fresh Issue | Rs 201 Lakh |
| IPO Size | Rs 201 Lakh |
| Tick Size | 1 |
Wherrelz IT Solutions IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
Wherrelz IT Solutions IPO – Summary
Their company was originally incorporated as a Private Limited Company in the name of “Wherrelz IT Solutions Private Limited” under the provision of the Companies Act, 2013 vide Certificate of Incorporated dated December 19, 2014, bearing Corporate Identification Number U74999MH2014PTC260236 issued by the Assistant Registrar of Companies, Maharashtra.
Subsequently, their company was converted into a Public Limited Company pursuant to the special resolution passed by the shareholders at the Extra-Ordinary General Meeting of their Company held on June 05, 2021, and consequent upon conversion the name of their Company was changed to “Wherrelz IT Solutions Limited” vide Fresh Certificate of incorporation dated July 12, 2021.
The Promoter of this company is Mr. Chaitanya Dhareshwar and Mrs. Sumanlata Dhareshwar. The lead manager to the issue is FEDEX SECURITIES PRIVATE LIMITED, and the Registrar to this issue is BIG SHARE SERVICES PRIVATE LIMITED.
Wherrelz IT Solutions IPO Date
The opening and the closing date of Wherrelz IT Solutions IPO are Dec 16, 2021, and Dec 21, 2021, respectively.
Wherrelz IT Solutions IPO Subscription
| Day / Date | NII | RII | Total Subscription |
| 1st Day – 16th Dec | 1.52x | 1.09x | 1.30x |
| 2nd Day – 17th Dec | 1.55x | 1.49x | 1.52x |
| 3rd Day – 20th Dec | 1.58x | 2.41x | 1.99x |
| 4th Day – 21st Dec | 1.65x | 2.86x | 2.25x |
| Shares Offered or Net Issue | 55,200 | 55,200 | 110,400 |
The shares subscribed by the public will be updated here.
Wherrelz IT Solutions IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Wherrelz IT Solutions Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | Dec 24, 2021 |
| Refunds Initiation | Dec 27, 2021 |
| Credit of Shares to Demat Account | Dec 28, 2021 |
| Share Listing Date | Dec 29, 2021 |
Wherrelz IT Solutions IPO Price
The face value of each share is Rs.10, but the price band of the IPO is Rs.171
Wherrelz IT Solutions IPO Size
This Initial Public Issue of 117,600 Equity Shares of Rs.10 each for cash at a price of Rs.171 per equity share aggregating to Rs.201 Lakh.
Wherrelz IT Solutions IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of 117,600 Equity Shares of Rs.10/ each.
Issue Size: 117,600 Equity Shares of Rs.10 each, aggregating to Rs.201 Lakh
Open Free Demat Account Now!
Wherrelz IT Solutions IPO – Live Performance
The listing date of this IPO is Dec 29, 2021. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Wherrelz IT Solutions Share Price |
Wherrelz IT Solutions IPO Grey Market Premium
The Wherrelz IT Solutions Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is X.
Wherrelz IT Solutions IPO – Company Overview
Their Company including their subsidiary Company, Infinitybeam IOT Labs Private Limited is engaged in the business of web-centric, multi-spectrum IT Product development and maintenance and provision of IT Consultancy.
It provides a wide range of services such as Enterprise Risk Management (ERM), Enterprise Resource Planning (ERP), E-Commerce, Application programming interface (API), Cyber Security, Internet of Things (IoT), cloud-based tools, etc through standard software development model or through customized software development model depending upon the requirement of the clients which is backed by advanced technology and efficient team of software developers who tend to keep themselves abreast by undergoing continuous R&D activity.
Their objective is to develop and maintain all in all software solutions to every enterprise in various sectors such as E-commerce, Education, Fintech, Healthcare, Social Networking, and other industries to enable ease of doing business. customer-centric solutions.
The Information Technology industry is a continuously evolving technological industry and they endeavor to exploit these technological advances to reach audiences in India and globally to provide growth, efficiency, and advancement in the business objectives.
Wherrelz IT Solutions IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Lakh) | |||
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Total Assets | 9.01 | 8.12 | 7.81 |
| *Total Revenue | 20.47 | 22.12 | 20.13 |
| Total Expense | 18.59 | 17.87 | 18.85 |
| Profit After Tax | 1.44 | 3.16 | 1.24 |
Earnings per Equity Share (in Lakh)
| 31-Mar-21 | 31-Mar-20 | Mar-19 | |
| Basic & Diluted | 14.37 | 31.58 | 12.43 |
Further, their PAT for the period ended on March 31, 2021, March 31, 2020, and March 31, 2019, were Rs. 1.44 Lakh, Rs. 3.16 Lakh, and Rs. 1.24 Lakh respectively.
Wherrelz IT Solutions IPO – Promoters
The Promoter of this company is:
- Mr. Chaitanya Dhareshwar
- Mrs. Sumanlata Dhareshwar
List of Related Parties (Key Managerial Personnel)
- Chaitanya Dhareshwar, Managing Director
- Sumanlata Dhareshwar, Executive Director & Chief Financial Officer (CFO)
- Navin Punjabi, Non-Executive Director
- Rishi Aggarwal, Non-Executive Independent Director
- Uma Krishnan, Non-Executive Independent Director
Wherrelz IT Solutions IPO – Promoters Holding
- Pre Issue Share Holding – %
- Pos Issue Share Holding – %
Wherrelz IT Solutions IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to 117,600 Equity Shares aggregating up to Rs.201 Lakh |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Lakh |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Lakh |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 2,72,000 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Wherrelz IT Solutions IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
1. Funding working capital requirements; and
2. General corporate purposes
Wherrelz IT Solutions – Business Strategy
- End to end capabilities from the preparation of blueprint to deployment and maintenance
- Presence with a wide customer base across various industries
- Strengthen human capital
Wherrelz IT Solutions IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Qualified Senior Management Team;
- Revenue mix;
- Scalable Business Model;
- Quality Service
- Quality Assurance & Standards
- Agile engineering and delivery.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-21 | 14.37 | 20.59 | 69.78 |
| 31-Mar-20 | 31.58 | 54.78 | – |
| Mar-19 | 12.43 | 18.51 | – |
Wherrelz IT Solutions IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | NAV (Rs.) | |
| Wherrelz IT Solutions Limited | 10 | [●] | 14.37 | 20.59 | 69.78 |
| Listed Peers | |||||
| Tera Software Limited (Standalone) |
10 | 46.74 | 0.67 | 0.78 | 86.84 |
| Megri Soft Limited (Consolidated) |
10 | 139.46 | 1.43 | 2.23 | 64.00 |
| Alphalogic Techsys Limited (Consolidated) |
10 | 21.02 | 2.50 | 6.38 | 0.03 |
Wherrelz IT Solutions IPO Lead Managers
| Lead Managers |
| FEDEX SECURITIES PRIVATE LIMITED B 7, 3rd Floor, Jay Chambers, Dayaldas Road, Vile Parle (East), Mumbai – 400057, Maharashtra, India Tel No: +91 81049 85249 E-mail: mb@fedsec.in Website: www.fedsec.in Contact Person: Yash Kadakia SEBI Registration Number: INM000010163 Investor Grievance E-mail: mb@fedsec.in |
Wherrelz IT Solutions IPO Registrar to offer
| Registrar to the Offer |
| BIGSHARE SERVICES PRIVATE LIMITED 1st Floor, Bharat Tin Works Building, Club House Road, Opp. Vasant Oasis, Makwana Road, Marol, Andheri (East), Mumbai 400059 Tel No.: 022 6263 8200 Email: ipo@bigshareonline.com Website: www.bigshareonline.com Contact Person: Swapnil Kate SEBI Registration No.: INR000001385 |
Wherrelz IT Solutions IPO – Other Details
- Statutory Auditor – M/s P. B. Shetty & Co, Chartered Accountants
- Legal Counsel to the Company – M/S. ASHA AGARWAL& ASSOCIATES
- Bankers to the Company – HDFC Bank Limited and ICICI Bank Ltd
Wherrelz IT Solutions IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
Subscribe to Wherrelz IT Solutions IPO
Wherrelz IT Solutions IPO Review FAQs
Ques – What is the Issue Size of Wherrelz IT Solutions IPO?
Answer – The Company is making an initial public offer of 117,600 equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
Ques – What is the Price band of Wherrelz IT Solutions IPO?
Answer – The price band for this particular IPO ranges between Rs 171. As far as the face value of the share is of concern, it is Rs.10 per share.
Ques – What is the Wherrelz IT Solutions IPO Open Date?
Answer – The opening and closing dates for this IPO have been updated. The IPO is set to open on Dec 16, 2021, while the closing date is set at Dec 21, 2021.
Ques – What is the Wherrelz IT Solutions IPO Allotment Date?
Answer – They also have the news regarding the respective allotment dates of this IPO. Basis of Allotment finalization is on Dec 24, 2021, refund initiation is on Dec 27, 2021, credit of shares is on Dec 28, 2021, and share listing date is on Dec 29, 2021.
Ques – What is the Wherrelz IT Solutions IPO Listing Date?
Answer – Shares of this company shall be listed in the exchanges on Dec 29, 2021. The date, when the listing would be done, is stagnant on Dec 29, 2021.
Ques – Who is the Registrar of Wherrelz IT Solutions IPO?
Answer – One of the reputed registrars is managing the issue of this IPO, i.e. Bigshare Services Private Limited. Their website will help you regarding the further information you are on the lookout for.
Ques – Who is the Promoter of Wherrelz IT Solutions IPO?
Answer – Here are the promoters of this IPO – Mr. Chaitanya Dhareshwar and Mrs. Sumanlata Dhareshwar. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
Ques – What is the GMP of Wherrelz IT Solutions IPO?
Answer – They have obtained the GMP of this IPO and it is NA. Further insights of Kostak rate and subject to sauda or SS are as well included in this report.
Ques – Is Wherrelz IT Solutions IPO good for Investment?
Answer – They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
Ques – What is the PAT of Wherrelz IT Solutions Company?
Answer – They have the information of company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2021 in Lakh is 1.44, 2020 is 3.16, 2019 is 1.24.
Calculate your return on investment!
Asset Class
ROI (Rs.)
Profit (Rs.)
Profit (%)
IPO
Equity
Savings
Real Estate
Gold
Bonds
Fixed Deposit
Mutual Fund
Featured Topics