Unified Data-Tech Solutions Limited, known as Udtechs, is an information technology company focused on turning IT into a business growth engine. Since its formation in 2010, the company has been providing customised IT infrastructure and system integration services to enterprises.

The company is set to raise ₹144.47 crore through an initial public offering that is completely an offer for sale involving 52.92 lakh equity shares. The IPO will be open for public subscription from May 22, 2025, to May 26, 2025, and is expected to list on the NSE SME platform on May 29, 2025.

IPO Details

• Price Band: ₹260 to ₹273 per equity share

• Issue Size: ₹144.47 crore (Offer for Sale only)

• Lot Size: 400 shares

• Minimum Retail Investment: ₹109200

• Minimum HNI Investment: ₹218400 (2 lots or 800 shares)

• Book Running Lead Manager: Hem Securities Limited

• Registrar: Kfin Technologies Limited

• Market Maker: Hem Finlease Private Limited

Financial Highlights

Unified Data-Tech has shown consistent growth in revenues and profits, supported by expanding business demand:

• Revenue from operations:

  • FY 2022: ₹9549.60 lakh

  • FY 2023: ₹11281.31 lakh

  • FY 2024: ₹26680.30 lakh

  • 9M FY 2025 (ending Dec 31, 2024): ₹20366.27 lakh

• EBITDA:

  • FY 2022: ₹1334.11 lakh

  • FY 2023: ₹1479.55 lakh

  • FY 2024: ₹3429.05 lakh

  • 9M FY 2025: ₹4224.42 lakh

• Profit After Tax (PAT):

  • FY 2022: ₹970.88 lakh

  • FY 2023: ₹1040.09 lakh

  • FY 2024: ₹2512.59 lakh

  • 9M FY 2025: ₹3168.31 lakh

The numbers reflect strong financial performance, which supports the IPO’s pricing.

Valuation Metrics

• EPS FY24 (Pre and Post Issue): ₹12.51

• Annualised EPS FY25 (based on 9M data): ₹17.20

• P E Ratio FY24: 21.82x

• P E Ratio Annualised: 15.86x

• Industry P E Ratio: 36x

• Return on Capital Employed (ROCE) FY24: 52.55 percent

• Return on Equity (ROE) FY24: 48.81 percent

• Return on Net Worth (RoNW): 39.23 percent

At the upper band of ₹273, the market capitalisation will stand at ₹548.45 crore. The valuation looks reasonable compared to peers, especially given its high ROCE and consistent EPS growth.

Promoter and Management Team

The company is led by:

• Hiren Rajendra Mehta, Chairman and Managing Director, with 27 years of experience in IT infrastructure and business strategy

• Rajendra Kantilal Mehta, Whole Time Director, with over 35 years of experience in customer relations and CSR

Both promoters are actively involved in the day-to-day operations and long-term growth planning of the company.

Grey Market Premium

The Grey Market Premium (GMP) is reported to be around ₹40, indicating a possible listing gain of around 14.65 percent. However, investors are advised that grey market activity is unregulated and speculative. GMP is shared for informational purposes only and should not form the sole basis of investment decisions.

Conclusion and Recommendation

Unified Data-Tech Solutions Limited has displayed strong business fundamentals, rising revenues, high operating margins, and robust return ratios. The IPO appears to be fairly priced, especially in comparison to sector P E averages.

The fact that this is a pure offer for sale means the company is not raising fresh capital for expansion, which could be a consideration for long-term investors. However, the listing gains indicated by GMP, backed by financials, make it suitable for risk-tolerant investors looking for short-term gains.

Recommendation: Risk-appetite investors may consider applying for listing gains

The Upcoming IPOs in this week and coming weeks are Scoda Tubes,Neptune Petrochemicals, Aegis Vopak Terminals, Schloss Bangalore, Astonea Labs, Nikita Papers, Prostarm Info Systems, Victory Electric Vehicles International, Blue Water Logistics, Wagons Learning.

The Current active IPO are Unified Data - Tech Solutions, Dar Credit and Capital, Belrise Industries.

The Closed IPOs are Borana Weaves.