Prodocs Solutions is all set to make its stock market debut on the BSE SME platform. However, the grey market is indicating a muted start, with the Initial Public Offering (IPO) quoting at a zero grey market premium. This suggests that the company's shares may list around the issue price of Rs 138 per share.
The Rs 27.60 crore IPO of Prodocs Solutions is a mix of fresh issue and offer for sale. The company has raised Rs 22.08 crore through new equity, while promoters have partially exited via a Rs 5.52 crore offer for sale. The issue has received a moderate response, getting subscribed 2.66 times overall.
Prodocs Solutions operates in the IT-enabled services space, primarily focusing on non-voice BPO services. The company caters largely to overseas clients in the US and Australia, offering services such as:
Prodocs Solutions has delivered steady profitability, though revenue growth has been uneven. For FY25, total income declined 6% to Rs 42.78 crore, even as profit after tax rose 61% to Rs 5.11 crore. The company has also reported revenue of Rs 21.11 crore and PAT of Rs 3.43 crore for the six months ended September 2025.
The IPO proceeds from the fresh issue are expected to support working capital requirements and general corporate purposes, while also strengthening the company’s balance sheet. Investors will closely track execution, client additions, and margin sustainability to assess whether the company can gradually build value beyond the debut.
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