Wherrelz IT Solutions Limited IPO

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i. The Company is promoted by Mr. Chaitanya Dhareshwar who has almost 16 years of experience and Mrs. Sumanlata Dhareshwar who has around 14 years of experience in the field of networking, software design, quality assurance, product development and internet technology.

ii. The Company including its subsidiary Company, Infinitybeam IOT Labs Private Limited is engaged in the business of webcentric, multi-spectrum IT Product development and maintenance and provision of IT Consultancy. It provides a wide range of services such as Enterprise Risk Management (ERM), Enterprise Resource Planning (ERP), E-Commerce, Application programming interface (API), Cyber security, Internet of Things (IoT), cloud based tools, etc through standard software development model or through customised software development model depending upon the requirement of the clients which is backed by advanced technology and efficient team of software developers who tend to keep themselves abreast by undergoing continuous R&D activity.

iii. The company’s objective is to develop and maintain all in all software solutions to every enterprise in various sectors such as Ecommerce, Education, Fintech, Healthcare, Social Networking, and other industries to enable ease of doing business. customer-centric solutions.

Competitive Strengths
i. Qualified Senior Management Team
ii. Revenue mix
iii. Scalable Business Model
iv. Agile engineering and delivery

Objects of the Wherrelz IT Solutions Limited IPO:

The Issue comprises of fresh issue of up to 1,18,000 Equity Share by the Company aggregating to Rs. [●] lakhs. The Company proposes to utilize the Net Proceeds from the Issue towards funding the following objects: 1. Funding working capital requirements 2. General corporate purposes.
DRHP of Wherrelz IT Solutions Limited IPO
RHP of Wherrelz IT Solutions Limited IPO

Wherrelz IT Solutions Limited IPO Details:

Open Date: Dec 16 2021
Close Date: Dec 21 2021
Total Shares: 117,600
Face Value: ₹ 10 Per Equity Share
Issue Type: Fixed Price Issue
Issue Size: 2.01 Cr.
Lot Size: 800 Shares
Issue Price: ₹ 171 Per Equity Share
Listing At: BSE SME
Listing Date: Dec 29 2021

Promoters And Management:

i. Mr. Chaitanya Dhareshwar, aged 36 years, is Managing Director of the Company and founder of the Company. He holds degree in BSC Physics from Mumbai University in 2005. He also holds a certificate of Scrum Master Six Sigma, ITIL, Scrum Master in 2013. He holds a certificate in Data science from HarvardX in 2018. He has vast experience in the field of creating technology solutions and has been a team leader at various projects. With his expertise, he provided consultancy and advisory services at various organisation over the past 14 years. Under his guidance the Company has witnessed continuous growth. He looks into the overall management of the business. ii. Mrs. Sumanlata Dhareshwar, aged 39 years, is the Executive Director of the Company and the co-founder of the Company. She holds degree bachelor’s degree in Sciences (Zoology) from Mahatma Gandhi University, Kerala in 2004. She also holds a certificate in GNIIT from NIIT in 2007. She also holds a certificate in SAP ABAP (Net Weaver 7.0) from Siemens in 2012. iii. Dr. Navin Mukesh Punjabi, aged around 38 years, is the Non-Executive Director of the Company. He holds a degree of Bachelor of Management Studies (BMS) from the University of Mumbai in 2004. He also holds degree of Master of Commerce (M. Com) from University of Mumbai in 2006. He holds degree in doctor of Philosophy from Mumbai University, degree of Masters in Management and has completed his doctorate in Management from We School (Prin. L N Welingkar Institute of Management Development & Research) in the year 2008. He was awarded the Junior Research Fellowship to purse his Research certificate of UGC NET in the year 2005. He teaches subjects like Corporate Governance, Principles of Investments, Strategic Management and International Marketing. He has an overall experience of more than. Fifteen years in the field of Research in Financial and Management and teaching.

Financials of Wherrelz IT Solutions Limited IPO:

Particulars (in Lakhs) March-21 March-20 March-19
Revenue 20 21.79 19
Employee benefits expense 12.13 9.53 10
Other Expense 5.22 7.67 8
Operating profit 2.89 4.59 1.70
OPM % 14% 21% 9%
Other Income 0.23 0.33 0.64
Depriciation 1.25 0.67 1.06
Profit Before tax 1.88 4.25 1.28
Profit After Tax 1 3.16 1.24
EPS 14.37 31.58 12.43

Lead Manager of Wherrelz IT Solutions Limited IPO:

  1. Fedex Securities Limited

Registrar of Wherrelz IT Solutions Limited IPO:

  1. Bigshare Services Private Limited

Company Address:

Wherrelz IT Solutions Limited Plot No. 15, Road 10, Sec -1, New Panvel East, Navi Mumbai, Raigarh – 410 206 Phone: +91 9811221082 Email: official@wherrelz.com Website: https://wherrelz.in/

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