Varanium Cloud Limited IPO
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i. Varanium Cloud is a fast-growing Indian technology company that is focused on providing services surrounding digital audio, video and financial blockchain (for PayFac) based streaming services.
ii. The Company operates in the following key verticals:
- Provision of digital audio and video content streaming services to various content owners and telecom operators in India and internationally on a SaaS (Software As A Service) model such as Voice & Video over Internet Protocol solutions (VoIP) in the B2B and B2C segments;
- Online payment facilitation services (PayFac);
- Provision of low bandwidth digital education content platforms (EdTech) with complete Learning Management Systems (LMS) focused on non-urban areas under Edmission brand;
- Provision of information technology related services to startups and SMEs to help them transition their business to digital platforms and manage the relevant infrastructure on a IaaS (Infrastructure As A Service) model;
iii. Varanium’s unique network transportation technology allows content to be delivered to end devices faster and cheaper. Varanium’s technology is also completely device agnostic and can be delivered to any mobile device or screen, wired or wireless, agnostic of operating system or type of screen.
iv. Varanium Cloud Product Offerings
- Edmission
- JumpTalk
- Online payment facilitation services (Payfac)
- Infrastructure as a Service (IaaS)
v. Competitive Strengths
- Transport Technology
- Low cost of delivery
- Valuable data insights
- Founder-led visionary management team
Objects of the Varanium Cloud Limited IPO:
The objects of the Net Proceeds (as defined below) of the Issue are:
1. Setting up 3 Nos. Containerized Edge Data Centres;
2. Rollout of 3 Edmission flagship Digital Learning Centres; and
3. General Corporate Purpose.
Varanium Cloud Limited IPO Details:
| Open Date: | Sep 16 2022 |
| Close Date: | Sep 20 2022 |
| Total Shares: | 3,000,000 |
| Face Value: | ₹ 10 Per Equity Share |
| Issue Type: | Fixed Price Issue |
| Issue Size: | 36.60 Cr. |
| Lot Size: | 1000 Shares |
| Issue Price: | ₹ 122 Per Equity Share |
| Listing At: | NSE Emerge |
| Listing Date: | Sep 28 2022 |
Promoters And Management:
i. Harshawardhan Hanmant Sabale, aged 47 years, is the Managing Director of the Company. He has been associated with the Company since Inception and has been on the Board of Directors since June 01, 2019 and has been appointed as Managing Director on April 27, 2022. He is a Chartered Accountant (Membership No. 107747) from The Institute of Chartered Accountants of India since 1999. He has experience of over 15 years in Private Equity and Technology. He started his career with Arthur Andersen in 1994 in Mumbai, and worked across consulting, audit and fraud investigations. He went on to start the firm’s technology consulting practice for India in 1998. He left the firm in February 2000 to start career in Venture Capital / Private Equity (PE) Industry.
ii. Fahim Iunus Shaikh aged 44 years is a Executive Director of the company. He graduated from the University of Mumbai with a Bachelor’s degree in Commerce in June 2001. Mr. Shaikh is experienced operational personnel with expertise in material management & procurement and adhering to quality norms as per customer expectation. Mr. Shaikh has operational experiences in the field close to nearly 20 Years. He has been associated with the Company since August 2020 and has been elevated to Director’s position in April 2022. He has been handling project related procurements, liaisoning and logistic activities in the Company.
iii. Kalpesh Anil Acharekar aged 36 years is an Non-Executive and Non-Independent Director of the company. Kalpesh has completed his Higher Secondary Certification from Maharashtra Board in Commerce Stream in June 2004 from Mumbai. Kalpesh is a seasoned team player with expertise in Inventory Management along with proper nuances in Supply Chain Management processes along with handling and liaisoning with Governmental authorities for proper movement of local as well as import consignments. Kalpesh has a experience of nearly 15 years with his previous employers in the shipping export import Liasioning industry. He has been appointed as Director’s position in the Company in April 2022 to broad base the board of the Company and guide us on various matters in the Company.
Financials of Varanium Cloud Limited IPO:
| Particulars (in crores) | March 22 | March 21 | Mar 20 |
| Revenue from operations | 35 | 3 | 0 |
| Purchase Of Stock | 10 | 0 | 0 |
| Employee Benifit Expense | 9 | 0 | 0 |
| Other Expense | 3 | 0.23 | 1 |
| Operating Profit | 13 | 2.77 | -1 |
| OPM% | 37.14% | 92.33% | 0 |
| Finance Cost | 0.04 | 0.09 | 0.16 |
| Depreciation | 0.09 | 0.05 | 0.08 |
| Other Income | 0 | 0.44 | 0.12 |
| Profit (Loss) before tax | 0.12 | 3 | -1 |
| Tax expense | 3 | 0.91 | 0 |
| Profit (Loss) for the period | 8.4 | 1.41 | -1.48 |
| Share After Issue | 1 | 1 | 1 |
| Earnings per share | 8.4 | 1.4 | -1.48 |
Comparison With Peers:
| Name of the Company | CMP | FV | EPS | P/E |
| Varanium Cloud Limited | 122 | 10 | 8 | 15 |
| Info Edge India Limited | 4,315 | 10 | 992.4 | 18.9 |
| Infibeam Avenues Limited | 17 | 1 | 0.36 | 48.4 |
| Tanla Platforms Limited | 867 | 1 | 39.46 | 22 |
| Route Mobile Limited | 1,478 | 10 | 32.62 | 46 |
Lead Manager of Varanium Cloud Limited IPO:
Registrar of Varanium Cloud Limited IPO:
Company Address:
Varanium Cloud Limited
Third Floor, Plot No. 244-A RDP 2, CTS 1374/B
Vill, Versova SVP Nagar, Four Bungalows
Mumbai- 400053
Phone: +91 22 2632 5683
Email: info@vrnm.com
Website: https://varanium.cloud/
Discussion on Varanium Cloud Limited IPO:
1 Comment
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Financials looks very erratic. Stat away from such companies.