Praruh Technologies IPO Opens Today with ₹23 Crore Issue; Price Band ₹60–₹63 per share

Mumbai, 24 September 2025: Praruh Technologies Limited today launched its Initial Public Offering (IPO) on the BSE SME platform, aiming to raise ₹23 crore through a new issue of shares. The issue aims to strengthen the balance sheet of the company, facilitate working capital assistance, and for the acquisition of business, following robust anchor investor support.

Formed in 2019 and headquartered in Noida, Uttar Pradesh, Praruh Technologies is a system integrator company offering ICT solutions for the critical infrastructure verticals. The company has positioned itself as a consulting-driven integrator with service offerings across data centres, networks, applications, security, and AV solutions. With promoters having 18–19 years of industry experience, the company has created a customer base comprising mainly government and infrastructure entities.

IPO Launch with ₹23 Crore Fresh Issue Backed by Anchor Allocation of ₹6.69 Crore

Praruh Technologies IPO opens from 24 September to 26 September 2025, has a price band of ₹60–₹63 per share with a lot size of 2,000 shares, translating to ₹1.20 lakh–₹1.26 lakh per lot. The issue comprises 37,30,000 equity shares, and the market maker is SMP Securities Limited.

Praruh Technologies alloted 10,62,000 equity shares of ₹63 each to anchor investors on 23 September 2025, raising around ₹6.69 crore. Prominent allotments were done to Moneywise Financial Services Pvt Ltd with 4.80 lakh shares (₹3.02 crore), Persistent Growth Fund – Varsu India Growth Story Scheme with 3.82 lakh shares (₹2.40 crore), and Viney Growth Fund with 2 lakh shares (₹1.26 crore). The initial support is an indication of faith in the growth trajectory of the company by institutions.

Revenue Doubles in FY24, While PAT Improved Threefold in FY25

Praruh Technologies has shown impressive financial performance in the last few years. Revenue increased from ₹2,796.70 lakh in FY23 to ₹6,143.82 lakh in FY24, sustaining momentum at ₹6,188.60 lakh in FY25. Profit after tax (PAT) also showed good growth, rising from ₹217.56 lakh in FY23 to ₹678.50 lakh in FY25, indicating stable profitability.

Earnings per share (EPS) increased from ₹3.41 in FY23 to ₹6.65 in FY25, and net worth rose from ₹482.99 lakh to ₹1,811.99 lakh over the same period. Borrowings too increased, from ₹180.03 lakh in FY23 to ₹1,711.05 lakh in FY25, showing a growing debt burden despite high growth in net worth.

Borrowings and Tax Proceedings Pose Risks Despite Diversified ICT Portfolio

The firm would use IPO proceeds for repayment of borrowings (maximum ₹633 lakh), working capital (maximum ₹1,100 lakh), and domestic acquisitions (maximum ₹100 lakh), besides general corporate requirements.

Although it has some key strengths, such as a diversified ICT solutions portfolio covering hardware, applications, networking, data centers, and AV integration, Praruh Technologies faces challenges. Being heavily reliant on its five biggest customers, who generate 95.97% of FY25 revenue, rising debt levels, and exposure to tax proceedings against allegedly forged invoices for ₹5.10 crore (₹2.34 crore demand under appeal) indicate operating risks.

There is also additional pressure from outstanding litigations and contingent liabilities of ₹964 lakh under bank guarantees. Nevertheless, the consulting-centric business model and relationship with high-value clients such as the Delhi Metro and the Airport Authority of India highlight its industry foothold.

Praruh Technologies’ listing is a significant step in its growth trajectory, the proceeds of which will be employed to create financial resilience and operational expansion. While the company has registered strong revenue and profit growth, elevating borrowings, geographical client concentration, and ongoing tax proceedings are areas of concern. The IPO captures the opportunity as well as the challenge ahead for the ICT solutions firm.

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