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Enfuse Solutions IPO
Price Band
₹91.0–96.0
Issue Size
₹22.44 Cr
Lot Size
1,200 shares
Min Investment
₹115,200
GMP
+₹40.0 (41.67%)
Issue Price
₹96.0
Subject to Sauda
₹36500
Paid only if allotted
Enfuse Solutions IPO AI Summary
- Enfuse Solutions IPO is listed on NSE SME in the IT Enabled Services sector.
- Price band: ₹91.0–₹96.0 per share, lot size 1,200 shares (min. investment ₹115,200).
- Subscription window: 15 Mar–19 Mar 2024, listing on 22 Mar 2024.
- Current GMP is +₹40.0 (41.67%), an estimated listing price of ₹136 — unofficial and can change daily.
Enfuse Solutions Limited is an SME in the IT Enabled Services sector, offering various digital solutions. The company has shown consistent growth in revenue and profitability. With a lower P/E ratio compared to some peers, it may present an attractive opportunity for certain investors.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Enfuse Solutions IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 19 Mar 2024 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Subscription data unavailable
Enfuse Solutions IPO Grey Market Premium (GMP) Today
GMP
+₹40.0
GMP %
+41.67%
Est. Listing
₹136.0
Updated: 25 Jul 2026 14:06
About the Company
Incorporated in 2017, Enfuse Solutions Limited provides integrated digital solutions in the areas of data management and analytics, e-commerce and digital services, machine learning and artificial intelligence, education, and technology solutions. The company operates in four areas: Data Management & Analytics, E-commerce & Digital Services, Machine Learning & Artificial Intelligence and Edtech & Technology Solutions. In Data Management & Analytics, the focus is on analyzing data to make informed decisions. E-Commerce & Digital Services develops and optimizes digital platforms for seamless online experiences. Machine Learning & AI offer innovative solutions. Edtech & Technology Solutions improves the educational experience and offers technological solutions. The company has two delivery centers, one in Thane, Maharashtra, and the second in Vikroli, Mumbai, Maharashtra. The company generates revenue from its domestic business in India and exports services to countries such as the US, Ireland, the Netherlands and Canada. As of December 31, 2023, the company employed a total of 448 employees at various levels of the organization, including key management personnel.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 31 Dec 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 25.47 | 11.65 | 8.90 | 4.61 |
| Total Income | 28.05 | 26.10 | 25.57 | 17.20 |
| Profit After Tax | 3.23 | 2.93 | 1.98 | 1.55 |
| NET Worth | 9.70 | 6.46 | 3.54 | 1.56 |
| Reserves and Surplus | 3.19 | |||
| Total Borrowing | 9.06 | 2.42 | 2.34 |
Key Ratios
EPS
₹4.50
NAV
₹14.90
ROE
39.88%
ROCE
24.05%
RoNW
33.25%
P/B Value
7.57
P/E Ratio
21.35
Market Cap
₹84.94 Cr
PAT Margin
11.51%
Peer Comparison
| Company | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|
| Systango Technologies Limited | 22.7% | 26.76 | 12.76 | 12.76 |
| eClerx Services Limited | 28.5% | 25.06 | 97.15 | 97.15 |
| Vertexplus Technologies Limited | 8.36% | 36.43 | 4.71 | 4.71 |
| Enfuse Solutions Limited This IPO | 45.21% | — | 4.5 | 4.5 |
Promoters
Imran Yasin Ansari, Mohammedk Lalmohammed Shaikh, Rahul Mahendra Gandhi, Zaynulabedin Mohmadbhai Mira and Farheen Imran Ansari
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Repayment of certain Borrowings availed by the Company 3.84 2 To meet Working Capital requirements 10.50 3 General Corporate Purpose 5.41
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total Income was ₹25.57 Cr in the year ending March 31, 2022, rising to ₹26.10 Cr by March 31, 2023, and further increasing to ₹28.05 Cr by December 31, 2023. This shows a consistent upward trend in revenue over the periods analyzed.
Profit Trend
Profit After Tax was ₹1.98 Cr for the year ending March 31, 2022, increasing to ₹2.93 Cr by March 31, 2023, and further to ₹3.23 Cr by December 31, 2023. This indicates a positive growth in profitability across the periods.
Valuation
Enfuse Solutions Limited has a P/E ratio of 21.35 at the issue price, while peers are trading at P/E ratios ranging from 25.06 to 36.43. This suggests that Enfuse Solutions is priced at a lower multiple compared to some of its peers.
Grey Market Premium, Explained
The Grey Market Premium (GMP) is an unofficial indicator of the likely listing price of an IPO. It reflects the demand for the shares in the grey market before they are officially listed. A higher GMP suggests strong demand and potential for listing gains, while a lower GMP may indicate weaker demand.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their own financial goals and risk tolerance. It's important to consider the company's growth prospects and the overall market conditions.
Who May Want to Wait
Investors who prefer stable returns and are averse to the risks associated with new market entrants may want to avoid this IPO. Additionally, those with a low risk tolerance may find the potential volatility of IPOs concerning.
Listing Gains — The Risk
Listing-day gains are not guaranteed and can vary widely based on market conditions, investor sentiment, and overall demand for the stock. It's important to remember that while high GMP can indicate potential for gains, actual performance on the listing day can differ significantly.
This evaluation is generated from Enfuse Solutions's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Enfuse Solutions IPO GMP today?
Enfuse Solutions IPO GMP today is +₹40.0 (41.67%), indicating an estimated listing price of ₹136. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Enfuse Solutions IPO?
The price band of Enfuse Solutions IPO is ₹91.0–₹96.0 per share.
When does Enfuse Solutions IPO open and close?
Enfuse Solutions IPO opens on 15 March 2024 and closes on 19 March 2024.
When does Enfuse Solutions IPO list on the stock exchange?
Enfuse Solutions IPO listed on 22 March 2024 at ₹136.0.
What is the lot size for Enfuse Solutions IPO?
The lot size for Enfuse Solutions IPO is 1200 shares, requiring a minimum investment of ₹115,200.
What is the price band for the IPO?
The price band for the IPO is ₹91.0 to ₹96.0.
What is the minimum investment required?
The minimum investment required is ₹115,200.
What is the lot size for the IPO?
The lot size for the IPO is 1200 shares.
When does the IPO open and close?
The IPO opens on March 15, 2024, and closes on March 19, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of the shares in the grey market.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
15 Mar 2024
Close
19 Mar 2024
Allotment
20 Mar 2024
Listing
22 Mar 2024
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