Virtual Galaxy Infotech Limited IPO

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The company is a Software-as-a-Service (SaaS)- based technology enterprise focused on delivering innovative, secure, and scalable software solutions across core banking, ERP, IT services, and E-Governance domains. With over two decades of industry experience, they have positioned themselves as a full-stack technology partner offering both product-based solutions and customized IT services to financial institutions, government entities, and enterprises.

Key Business Areas

i. Core Banking Software Solutions                            ii. ERP and Business Software
iii. E-Governance Solutions                                        iv. Digital Payment Solutions
v. Advanced Tech Offerings

Service Capabilities

To support the software products and client requirements, they offer end-to-end IT services, including:
i. Consultation and requirement gathering
ii. IT architecture design
iii. Customized development and integration
iv. Software deployment and training
v. Post-implementation monitoring and managed services
vi. Infrastructure setup and cloud hosting support (for SaaS clients)

Clientele and Market Focus

They cater to a wide array of clients across:
i. Banking sector                                                    ii. Microfinance Institutions
iii. Government bodies and APMCs                  iv. SMEs and enterprise clients adopting ERP solutions

Their continued association with clients and recurring revenue model through SaaS offerings strengthens their long-term revenue visibility and customer stickiness.

Objects of the Virtual Galaxy Infotech Limited IPO:

IPO proposes to utilise the Net Proceeds from the Issue towards the following objects: i. Capital expenditure towards setting up additional development facility in Nagpur, Maharashtra; ii. Repayment/ prepayment of certain borrowings availed by the Company; iii. Investment in procuring GPU, server & storage system at Data Centre; iv. Funding of expenditure related to enhancement, maintenance and upgrading existing products through manpower hiring; v. Funding for business development and marketing activities; vi. General corporate purposes.
DRHP of Virtual Galaxy Infotech Limited IPO
RHP of Virtual Galaxy Infotech Limited IPO

Virtual Galaxy Infotech Limited IPO Details:

Open Date: May 09 2025
Close Date: May 14 2025
Total Shares: 65,70,000
Face Value: ₹ 10 Per Equity Share
Issue Size: 93.29 Cr.
Lot Size: 1000 Shares
Issue Price: ₹ 135 - 142 Per Equity Share
Listing At: NSE Emerge
Listing Date: May 19 2025

Promoters And Management:

Sachin Purushottam Pande, aged 53, is the Promoter, Managing Director, and CTO of the Company. A co-founder since 1997, he brings over 26 years of IT industry experience. An engineering graduate with an MBA and a diploma in computer technology, he was recognized as CEO of the Year at the Asia Leadership Awards. His expertise in system management, database design, and digital payments drives the company’s innovation and growth. Avinash Narayanrao Shende, aged 53, is the Promoter, Chairman, Executive Director, and CFO of the Company. He co-founded the firm in 1997 with over 26 years of IT industry experience. An engineering graduate with an MBA, he plays a key role in product strategy, design, and execution. His strong grasp of the banking sector and techno-commercial expertise have helped deliver cost-effective IT solutions, driving the company’s innovation and growth. Asit Oberoi, aged 59, is a Non-Executive Director of the Company and a Chartered Accountant, associated with ICAI since 1990. With over 9 years of leadership experience as Senior Group President at Yes Bank, he brings strategic insights and governance expertise that contribute meaningfully to the company’s growth.

Financials of Virtual Galaxy Infotech Limited IPO:

In Cr.
Particulars December 31, 2024 (Standalone) March 31, 2024 (Consolidated) March 31, 2023 (Consolidated) March 31, 2022 (Consolidated)
Revenue from Operations 101.24 63.50 59.68 43.43
EBITDA 45.50 31.36 11.92 9.15
EBITDA Margins 44.94% 49.38% 19.99% 21.14%
PAT 27.41 16.53 0.71 0.40
PAT Margins 27.08% 26.04% 1.20% 0.93%
ROCE 33.39% 31.68% 9.95% 7.71%
D/E Ratio 0.39 0.93 1.90 1.77
CFOA 28.39 28.40 9.36 11.84

Comparison With Peers:

Companies Revenue EBITDA Margins PAT Margins D/E Ratio MCap P/E
Virtual Galaxy Infotech (FY 2024) 63.50 Cr. 49.38% 26.04% 0.93 353.13 Cr. 21.36
Veefin Solutions India  (TTM) 79 Cr. 31% 20.25% 0.03 762 Cr. 57
Network People Services Technologies (TTM) 191 Cr. 34% 25.65% 0.00 3,992 Cr. 81.60
Trust Fintech (TTM) 33 Cr. 39% 30.30% 0.00 181 Cr. 17.30
Forward PE is 9.66 on the basis of FY 25 PAT.

Recommendation on Virtual Galaxy Infotech Limited IPO:

Review and Recommendation of Virtual Galaxy Infotech IPO by team IZ is 4/10.

Lead Manager of Virtual Galaxy Infotech Limited IPO:

  1. Smart Horizon Capital Advisors Private Limited

Registrar of Virtual Galaxy Infotech Limited IPO:

  1. Maashitla Securities Pvt. Limited

Company Address:

Virtual Galaxy Infotech Limited 3, Central Excise Colony, Behind Mahatme Eye Bank, Chhatrapati Sq., Ring Road Phone: +91 9226531342 Email: investors@vgipl.in Website: http://www.vgipl.com/

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