Rajkot | September 30, 2025 — 18:45 IST
Infinity Infoway Ltd, a Rajkot-based technology and IT services company, is tapping the capital markets with its SME IPO on the BSE SME platform. The issue opens for subscription on September 30, 2025, and closes on October 3, 2025. The company has set a price band of ₹147–₹155 per equity share, reflecting confidence in its growth trajectory and niche positioning.
IPO structure & details
- Price band: ₹147–₹155 per share.
- Lot size: 800 shares per lot (minimum investment of ₹117,600 at lower band; ₹124,000 at upper band).
- Issue size: Expected to raise ~₹X crore (details subject to RHP; estimates based on share volume × price).
- Subscription window: September 30 – October 3, 2025.
- Listing date: Tentatively October 8, 2025, on the BSE SME exchange.
- Ticker code: INFINIINFO.
As per SME norms, a portion of the issue is reserved for market makers to provide post-listing liquidity.
About the company
Infinity Infoway is an IT services and software-as-a-service (SaaS) solutions provider headquartered in Rajkot, Gujarat. Over the years, the company has built a portfolio across:
- Custom enterprise software solutions for SMEs and corporates.
- SaaS-based platforms for HR, payroll, and business management.
- IT services and outsourcing, including digital transformation projects.
- Cloud-based products for education and small business clients.
The company’s model benefits from recurring revenues tied to SaaS subscriptions and long-term client relationships. By tapping equity markets, Infinity Infoway aims to strengthen its balance sheet, fund expansion, and increase visibility in India’s growing SME-tech ecosystem.
Use of funds
According to IPO filings, proceeds from the issue will be deployed towards:
- Technology and product development: Expansion of SaaS platforms, cloud capabilities, and AI-driven modules.
- Working capital needs: Scaling operational bandwidth to service larger client mandates.
- Debt repayment: Reducing leverage to improve financial flexibility.
- General corporate purposes: Marketing, branding, and talent acquisition in IT.
Why this IPO is important
- Tech-SME crossover: Infinity is part of a new wave of SME IPOs led by technology-first businesses, distinct from traditional manufacturing-oriented SME listings.
- Premium price band: The ₹147–₹155 range is among the higher bands for SME issues, signaling confidence but also testing valuation appetite.
- Recurring revenues: The SaaS model provides visibility into future earnings streams, appealing to investors seeking stability in an SME space otherwise marked by volatility.
By the Numbers
| Metric | Detail |
|---|---|
| Price Band | ₹147–₹155 |
| Lot Size | 800 shares (~₹1.18–₹1.24 lakh) |
| Issue Window | Sep 30 – Oct 3, 2025 |
| Listing Date | Oct 8, 2025 (BSE SME) |
| Business Model | IT Services + SaaS |
| IPO Code | INFINIINFO |
Investor watchpoints
- Subscription demand: High-band pricing will test market appetite; oversubscription levels will be key.
- Valuation vs peers: Investors will compare Infinity’s multiples to SME tech peers and mainboard IT services firms.
- Growth visibility: SaaS adoption in India’s SME segment is rising; Infinity must demonstrate client stickiness and scalability.
- Liquidity post-listing: SME counters often face thin trading volumes; market maker participation will be crucial.
Risks & challenges
- Execution risk: Scaling SaaS platforms beyond regional markets will require significant investment and competitive agility.
- Valuation pressure: At a premium band, investors may demand consistent earnings growth to justify valuations.
- Competitive landscape: Larger IT service providers and global SaaS players could limit market share expansion.
- SME IPO liquidity: Historically, SME listings carry higher bid-ask spreads and volatility.
Outlook
The Infinity Infoway SME IPO represents a rare tech-focused listing in the SME space, setting it apart from the usual manufacturing-heavy roster. Its SaaS-driven business model, recurring revenues, and expansion goals align with broader trends in India’s digital economy.
That said, the issue comes with premium pricing and execution risks. Retail and HNI subscription levels will be closely watched, with listing day performance on October 8 expected to serve as a sentiment indicator for upcoming SME tech IPOs.
For investors, Infinity Infoway offers a chance to participate in India’s SME SaaS growth story, but demands careful assessment of risks around valuation, scalability, and liquidity.
