Lex Nimble Solutions Ltd is incorporated in 2012. It is engaged in the business of appraisal advisory, certification, training and related services on quality models, IT product and development and services and the major revenue streams being IT application. Lex Nimble has applied to list their IPO for getting listed in the Indian stock exchanges. Hence, let me check the draft red herring prospectus and issue price, GMP etc to post the Lex Nimble Solutions Ltd IPO Review for you.
About Lex Nimble Solutions Ltd IPO :
- IPO Opens on – March 12, 2018.
- IPO Closes on – March 16, 2018.
- Face Value – Rs. 10 Per Equity Share.
- Issue Price – Rs. 57 Per Equity Share.
- Issue Type – Fixed Price Issue IPO.
- Retail Allocation – 50%
- Market Lot – 2000 Shares.
- Minimum Order Quantity – 2000 Shares.
- Issue Size – 1,112,000 Equity Shares of Rs 10 aggregating up to Rs 6.34 Cr .
- Listing Exchange – BSE SME Exchange.
- Draft Prospectus – Download.
Objectives of the issue:
- Foraying into CMMI consulting.
- Establishment as an ISO certifying body.
- Customisation of the product SimpleLaw for the Indian market.
- General Corporate purposes.
- Issue Expenses.
About The Company –
- Lex Nimble Solutions Ltd is a subsidiary of Lex Nimble Solutions Inc., USA that holds 97.81% stake in the company.
- This company provide IT application development, maintenance and support.
- Lex Nimble Solutions Ltd is offer back office support in developing applications along with maintenance and support services.
- This company is also offer support in developing and maintaining enterprise information portals or corporate portals.
- Lex Nimble Solutions Ltd is also develop location aware mobile solutions.
- This company have recently done development of mobile application and web application compatibility for Dubai port authority.
- Lex Nimble Solutions Ltd is customized training which includes understanding client specific needs and training them.
- They have done many assignments in the domain of Quality management system implementation, Information security consulting, Six sigma implementation, Security testing related assignments etc.
- Lex Nimble Solutions Ltd is recently acquired the CMMI level 2 certification and now plans to foray into new segments of business.
Promoters of the company :
- M/s. Lex Nimble Solutions Inc. is promoter of this company.
- Mr. Praveen Chakravarthy Medikundam, aged 41 years, is a promoter of this company.
Lex Nimble Solutions Ltd IPO Review: As per the financial data the profitability has saw a dip on the financial year 2017. The net profits were posted Rs. 0.05 crores against Rs. 0.12 crores on the FY 2016. At the issue price of Rs. 57 per equity share the company has more price to earnings ratio than its peers. Lex Nimble has a PE ratio of 0.98 while its peer HOV Services Ltd has a PE ratio of 0.9. The profitability is not yet hopeful for investors. Hence, our Lex Nimble Solutions Ltd IPO Review is NEUTRAL on this initial public offering. One may invest at his own risk.