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Euphoria Infotech India IPO
Price Band
₹96.0–100.0
Issue Size
₹9.6 Cr
Lot Size
1,200 shares
Min Investment
₹120,000
GMP
+₹85.0 (85.0%)
Issue Price
₹100.0
Subject to Sauda
₹77500
Paid only if allotted
Euphoria Infotech India IPO AI Summary
- Euphoria Infotech India IPO is listed on BSE SME in the IT Enabled Services sector.
- Price band: ₹96.0–₹100.0 per share, lot size 1,200 shares (min. investment ₹120,000).
- Subscription window: 19 Jan–24 Jan 2024, listing on 30 Jan 2024.
- Current GMP is +₹85.0 (85.0%), an estimated listing price of ₹185 — unofficial and can change daily.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Euphoria Infotech India IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 24 Jan 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
Euphoria Infotech India IPO Grey Market Premium (GMP) Today
GMP
+₹85.0
GMP %
+85.0%
Est. Listing
₹185.0
Updated: 25 Jul 2026 14:07
About the Company
Incorporated in May 2001, Euphoria Infotech India Limited is a full-stack IT and ITes solution, based out at Kolkata, West Bengal. The company offers IT and ITES solutions for ERP, E-commerce, IoT, cloud-based tools, and data management. The company's solutions can be grouped into five categories: customized software, e-commerce, IoT, Artificial Intelligence, and Machine Learning. The applications include online recruitment, application, urban local body services, university management systems, online ticket booking systems, e-commerce, IoT-based dashboards for sewerage treatment plants and other industry-specific requirements. As for fiscal years 2021, 2022, and 2023, the total revenues of the company were ₹. 556.14 Lakhs, ₹. 493.87 Lakhs, and ₹. 737.56 Lakhs, respectively. During the same periods, the Profit after Tax was ₹. 23.91 Lakhs, ₹. 21.71 Lakhs, and ₹.129.71 Lakhs, respectively. As of May 31, 2023, the company employs a total of 29 people across various departments, including Accounts, Business Development, Software Development, and Legal and Compliance. Additionally, the company has contracted 16 IT professionals who are responsible for software development and project implementation as of the same date.
Company Financials (₹ Cr)
As of 2023-09-30
| Period Ended | 30 Sep 2023 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
|---|---|---|---|---|
| Assets | 9.66 | 8.33 | 6.27 | 7.10 |
| Total Income | 3.66 | 7.38 | 4.94 | 5.56 |
| Profit After Tax | 0.60 | 1.30 | 0.20 | 0.26 |
| NET Worth | 4.71 | 4.10 | 2.80 | 2.61 |
| Reserves and Surplus | 2.76 | 2.16 | 2.79 | 2.59 |
| Total Borrowing | 2.13 | 1.55 | 1.23 | 1.20 |
Key Ratios
EPS
₹6.68
NAV
₹21.12
ROE
38%
ROCE
49%
RoNW
31.62%
P/B Value
4.73
P/E Ratio
14.97
Market Cap
₹29.02 Cr
PAT Margin
17.58%
Debt/Equity
0.38
Peer Comparison
| Company | NAV | RoNW | P/E (x) | EPS Basic | EPS Diluted |
|---|---|---|---|---|---|
| Xchanging Solutions Ltd. | 60.7 | 19.54% | 13.21 | 4.03 | 4.03 |
| Infobeans Technologies Limited | 111.97 | 13.24% | 30.36 | 14.83 | 14.83 |
| Euphoria Infotech India Limited This IPO | 21.12 | 31.62% | 14.97 | 6.68 | 6.68 |
Promoters
Shamba Bhanja and Supriya Gupta
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 Working Capital 6.83 2 General Corporate Expenses 1.15
IPO Evaluation
Generated 23 Sep 2026Revenue Trend
Total income for Euphoria Infotech India Limited was ₹5.56 Cr for the year ending 31 Mar 2021, which increased to ₹4.94 Cr by 31 Mar 2022, and then rose to ₹7.38 Cr by 31 Mar 2023. The most recent figure for the period ending 30 Sep 2023 was ₹3.66 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Profit Trend
Profit After Tax (PAT) stood at ₹0.26 Cr for the year ending 31 Mar 2021, which increased to ₹0.20 Cr by 31 Mar 2022, and then rose significantly to ₹1.30 Cr by 31 Mar 2023. The most recent PAT for the period ending 30 Sep 2023 was ₹0.60 Cr, though this is a 9-month figure, not a full year, so isn't directly comparable.
Valuation
At the issue price of ₹100, Euphoria Infotech India Limited has an implied P/E of approximately 14.97 based on its earnings per share of ₹6.68. This is compared to peers with P/E ratios ranging from 13.21 to 30.36.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the price at which shares are expected to trade in the unofficial market before listing. A high GMP suggests strong demand and potential listing gains, while a low or negative 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 investment strategy and risk tolerance. Consider the company's growth potential and market conditions.
Who May Want to Wait
Those who are risk-averse or prefer more stable investments might consider avoiding this IPO, as it may be subject to market fluctuations and uncertainties inherent in the IT sector.
IPO Timeline, Explained
The IPO opens for subscription on January 19, 2024, and closes on January 24, 2024. Allotment of shares will be completed by January 25, 2024, with shares expected to list on the stock exchange by January 30, 2024.
Listing Gains — The Risk
While many investors hope for quick profits on listing day, there are risks involved. Market conditions can change rapidly, and the price of shares may not reflect the IPO price immediately after listing.
This evaluation is generated from Euphoria Infotech India'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 Euphoria Infotech India IPO GMP today?
Euphoria Infotech India IPO GMP today is +₹85.0 (85.0%), indicating an estimated listing price of ₹185. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Euphoria Infotech India IPO?
The price band of Euphoria Infotech India IPO is ₹96.0–₹100.0 per share.
When does Euphoria Infotech India IPO open and close?
Euphoria Infotech India IPO opens on 19 January 2024 and closes on 24 January 2024.
When does Euphoria Infotech India IPO list on the stock exchange?
Euphoria Infotech India IPO listed on 30 January 2024 at ₹185.0.
What is the lot size for Euphoria Infotech India IPO?
The lot size for Euphoria Infotech India IPO is 1200 shares, requiring a minimum investment of ₹120,000.
What is the price band for the Euphoria Infotech IPO?
The price band for the IPO is ₹96.0 to ₹100.0.
What is the minimum investment required?
The minimum investment required is ₹120,000.
What is the lot size for this IPO?
The lot size for the IPO is 1200 shares.
When is the listing date for the IPO?
The listing date for the IPO is January 30, 2024.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected premium at which the shares might trade in the grey market before listing.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
19 Jan 2024
Close
24 Jan 2024
Allotment
25 Jan 2024
Listing
30 Jan 2024
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