Infonative Solutions IPO day 3 update: Subscription lags at 92%, GMP at 17%

Infonative Solutions IPO Day 3 update: The initial public offering (IPO) of Infonative Solutions, which opened for subscription on Friday, March 28, 2025, has received a lukewarm response from investors so far. The issue was subscribed only 92 per cent, as of 10:46 AM on Wednesday, day 3 of the offering, according to data from the BSE SME platform.

 

The quota reserved for retail investors was subscribed 1.16 times and the Non-institutional investors (NII) portion was subscribed 0.53 times. The issue, however, has failed to secure any bids from the Qualified institutional buyers (QIBs).

 

Infonative Solutions IPO details

Infonative Solutions is eyeing to raise ₹24.71 crore through the book-built issue, comprising an entirely fresh issue of 3.12 million shares. The company has set the price band in the range of ₹75 to ₹79 per equity share.  Retail investors can bid for a minimum of one lot consisting of 1,600 shares with an investment amount of ₹1,20,000. The minimum investment required for high-net-worth individuals (HNIs) is ₹2,52,800 for two lots of 32,00 equity shares.

  The SME IPO will close for bidding on Thursday, April 3, 2025.  The basis of the allotment of shares is expected to be finalised on Friday, April 4, 2025. Infonative Solutions shares are scheduled to list on the BSE tentatively on April 8, 2025.

 

Kfin Technologies is the registrar for the issue, while Share India Capital Services is the sole book-running lead manager. 

 

According to the Red herring prospectus (RHP), the company plans to use ₹7.35 crore from the fresh issue proceeds to meet the expenses for the development of new products, courses and new features in LMS and purchase of laptops, and ₹5 crore for working capital requirements. The remaining proceeds will be utilised for general corporate purposes and unidentified acquisitions. 

 

Infonative Solutions IPO GMP

On Wednesday, the unlisted shares of Infonative Solutions were commanding a grey market premium of ₹14, or 17.7 per cent over the upper end of the issue price of ₹79, according to sources tracking unofficial market activities.

 

About Infonative Solutions

Incorporated in September 1998, Infonative Solutions is primarily engaged in the business of developing and designing e-learning content and services and courseware & other products including providing cloud-based learning management systems (LMS). The company provides cutting-edge e-learning delivery services designed to enhance business impact for its customers. 

 

In FY24, the company reported a total revenue of ₹18.07 crore, down 13.7 per cent from ₹20.95 crore reported in fiscal year 2023-23. It reported a PAT of ₹1.45 crore in FY24, up 35.6 per cent from ₹1.06 crore in the previous fiscal.