Logiciel Solutions Ltd IPO
Status: Closed
Overview
IPO date
28 Nov 2025 to 02 Dec 2025
Face value
₹ 10 per share
Price
₹ 183 to ₹193 per share
Issue Size
2,067,600 shares
(aggregating up to ₹ 39.9 Cr)
(aggregating up to ₹ 39.9 Cr)
Allotment Date
03 Dec 2025
Listing at
NSE
Issue type
Book Building - SME
Sector
IT - Software
Objectives of Logiciel Solutions Ltd IPO
Logiciel Solutions Ltd IPO Strategy
About Logiciel Solutions Ltd
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T&C*
Strengths vs Risks of Logiciel Solutions Ltd
Know the pros & cons
Strengths
Attract, develop and retain highly skilled employees to sustain our service quality and customer experience.- Ability to provide customized and integrated IT solutions.
- Experienced Promoter and Management Team.
- Diversified Portfolio of Services offered.
- Tailored Tech Solutions.
- Long-standing relationships with our customers.
- Wide range of Service Portfolio.
Risks
- The company derives a substantial portion of its revenue from a limited number of customers, with the company single largest customer accounting for more than 50% of its revenue from operations over the last three financial years and stub period. Consequently, the loss of any of these key customers, or a significant reduction in the volume of business from them, could have a material adverse impact on its business, financial condition, and results of operations.
- Its revenues from operations are heavily dependent on customers located in the United States of America (USA). Worsening economic conditions or factors that negatively affect the economic conditions of the USA could materially adversely affect its business, financial condition and results of operations.
- Its Promoter Group are in businesses similar to ours which may result in potential conflict of interest with the company.
- There are certain discrepancies/errors/delay filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- There are certain instances of delays in payment of statutory dues by it. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.
- A substantial portion of its revenue is concentrated from services related to companies which are part of Home Improvement & Construction industry . A loss of customer from this service may affect the company revenues and profitability.
- The company is exposed to the risk of delays or non-payment by our clients and other counter parties, which may also result in cash flow mismatches.
- Exchange rate fluctuations may adversely affect its results of operations as the company revenues is denominated in foreign currencies.
- Its software products may be susceptible to issues arising from coding errors, configuration faults, or other technical defects, which could result in significant costs for the company, delays in revenue generation, and potential exposure to legal proceedings.
- Its business and results of operations are dependent on the Master Service agreements/ Agency Staffing agreements that we enter with the company key customers. Any breach of the conditions under these agreements may adversely affect its business and results of operations.
- The Company has reported certain negative cash flows from its operating activity, investing activity and financing activity, details of which are given below.
- The Company's Logo "LOGICIEL SOLUTIONS" is not registered with Registrar of Trademark, any infringement of its logo or failure to get it registered may affect the company Business. Further, any kind of negative publicity or misuse of its logo could hamper the company Goodwill and its future Growth Strategies could be affected.
- Fails to attract and retain highly skilled IT professionals could adversely affect its business, financial condition and results of operations.
- The company is dependent on its ability to customize software products as per the demands and requirements of the customer based on latest technology. If its not able to enhance current portfolio in response to evolving industry requirements, our operating results may be negatively affected.
- Its Registered Office has been taken on long term lease from the owner/promoters.
- Its business has experienced employee attrition over the stub period and past three financial years, which may impact operational continuity and increase recruitment and training costs. High turnover could also affect the retention of key talent and expertise critical to the company growth and performance.
- The company has certain outstanding litigation involving the company, promoters, director, Key Managerial Personnel & Senior Managerial Personnel. Any adverse outcome of which may adversely affect its business, reputation and results of operations.
- Cyber risk and the failures to maintain the integrity of its operational or security systems or infrastructure, or those of its customers with which the company conduct business, could have a material adverse effect on its business, results of operations, financial condition and cash flows.
- The Company will not receive any proceeds from the Offer for Sale. Its Promoter Selling Shareholders will receive the proceeds from the Offer for Sale.
- The company has in the past entered into related party transactions and its may continue to do so in the future.
- The Objects of the Offer for which funds are being raised, are based on its management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at our discretion, based on the parameters as mentioned in the chapter titles "Objects of the Offer".
- Its may acquire or make strategic investments in complementary businesses, technologies, services or products, or enter into strategic partnerships or alliances with third parties, which may not turn out to be successful.
- The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Offer Price.
- Its may become liable to the company customers and lose customers if the company has defects or disruptions in its software products. The company may also be liable in the event of misuse of its software products or platforms.
- The average cost of acquisition of Equity Shares held by its Promoters and selling Shareholder's may be less than the Offer Price.
- The company Promoters play key role in its functioning and the company heavily relies on their knowledge and experience in operating its business and therefore, it is critical for the company business that its promoters remain associated with it.
- The company requires certain approvals and licenses in the ordinary course of business and the failures to successfully obtain/renew such registrations would adversely affect its operations, results of operations and financial condition.
- Its Promoters will continue jointly to retain majority control over the Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Its may be unable to detect, deter and prevent all instances of fraud or other misconduct committed by the company employees which may have a material adverse effect on its business, reputation, results of operations, financial condition and cash flows.
- The implementation process of solutions may in some cases be time consuming, and any failures to satisfy its clients or perform as desired could harm the company business, results of operations, and financial condition.
- Orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
- Its mainly cater to startups and growing businesses, which may expose it to elevated business and credit risks.
- Its insurance coverage may not be adequate to protect it against certain unprecedent hazards and this may have a material adverse effect on the company business.
- None of its Directors have any prior experience of being a director in any other listed company in India.
- Failures to offer client support in a timely and effective manner may adversely affect its relationships with the company clients.
- Its global operations subject it to additional risks that can adversely affect the company results of operations.
- The company Promoter and Directors may have interests in the company other than reimbursement of expenses incurred and normal remuneration or benefits.
- Its business is dependent on developing and maintaining continuing relationships with its clients and customers. The loss of any significant client or customer could have a material adverse effect on its business, financial condition and results of operations.
- The company has not commissioned an industry report for the disclosures made in the chapter titled `Industry Overview' and made disclosures on the basis of publicly available data and such data has not been independently verified by it.
- Intense competition in the market for technology services could affect its pricing, which could reduce the company share of business from clients and decrease its revenues and profitability.
- If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
- Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- If the company is unable to establish and maintain an effective system of internal controls and compliances, its business and reputation could be adversely affected.
- Its future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
Logiciel Solutions Ltd Peer Comparison
Understand the company’s industry standing
Logiciel Solutions Limited
Kody Technolab Limited
Systango Technologies Limited
Face Value
10
10
10
Standalone / Consolidated
Standalone
Standalone
Consolidated
Total Income Rs. Cr.
20.9055
71.7718
67.1444
EPS-Basis
10
13.82
16.18
EPS-Diluted
---
---
---
NAV Per Share
41.09
62.06
69.74
P/E-Basic EPS
---
52.81
14.94
P/E-Diluted EPS
---
---
---
RONW(%)
32.8
30.33
26.26
Latest NAV Period
---
---
---
Latest NAV
---
---
---
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The IPO opens on 28 Nov 2025 & closes on 02 Dec 2025.
Logiciel Solutions Limited is a specialized outsourced software development firm, delivering end-to-end custom software solutions to enterprises and startups worldwide. Incorporated in 2011 as Logiciel Solutions Private Limited in Ludhiana, Punjab, the Company was converted into a public limited company on December 14, 2024, and renamed as 'Logiciel Solutions Limited' on January 31, 2025.
With core expertise in Cloud Engineering, AI/ML, UI/UX Design, and Application Development, Logiciel leverages advanced technologies to deliver high-performing, scalable digital solutions. Headquartered in Ludhiana, the Company operates through a hybrid model with a central development center and a distributed remote engineering workforce across India.
Since year 2011, Company has grown into offshore software development partner, empowering startups and growing businesses to transform visionary ideas into scalable, secure, and high-performance digital platforms. It specializes in creating software solutions across web, mobile, and cloud-native technologies. It transitioned the business operations from general services to specializing in modern, full-stack technology solutions in 2014. It focused the business on startups and scaling small-to-medium businesses in FY16. Company expanded the business solutions into AI & ML capabilities for intelligent platforms and data-driven automation in 2023.
A strong focus on innovation and early adoption of Artificial Intelligence tools across the development lifecycle enables Logiciel to enhance speed, efficiency, and value for clients. The Company's client-centric approach and consistent delivery excellence have led to long-standing partnerships, including engagements spanning over a decade.
Company is planning the Initial Public Offer aggregating 20,67,600 equity shares of Rs 10 each, comprising a fresh issue of 16,94,400 equity shares and offer for sale of 3,73,200 equity shares.
Logiciel Solutions Ltd IPO will close on 02 Dec 2025.
- Attract, develop and retain highly skilled employees to sustain our service quality and customer experience.
- Ability to provide customized and integrated IT solutions.
- Experienced Promoter and Management Team.
- Diversified Portfolio of Services offered.
- Tailored Tech Solutions.
- Long-standing relationships with our customers.
- Wide range of Service Portfolio.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Umesh Sharma | 2389500 | 41.39 | 2202900 | 29.5 |
| 2 | Ajay Sharma | 2390000 | 41.4 | 2203400 | 29.5 |
| 3 | Prem Lal Sharma | --- | --- | --- | --- |
| 4 | Lateesh Sharma | --- | --- | --- | --- |
- The company derives a substantial portion of its revenue from a limited number of customers, with the company single largest customer accounting for more than 50% of its revenue from operations over the last three financial years and stub period. Consequently, the loss of any of these key customers, or a significant reduction in the volume of business from them, could have a material adverse impact on its business, financial condition, and results of operations.
- Its revenues from operations are heavily dependent on customers located in the United States of America (USA). Worsening economic conditions or factors that negatively affect the economic conditions of the USA could materially adversely affect its business, financial condition and results of operations.
- Its Promoter Group are in businesses similar to ours which may result in potential conflict of interest with the company.
- There are certain discrepancies/errors/delay filings noticed in some of its corporate records relating to forms filed with the Registrar of Companies and other provisions of Companies Act, 2013. Any penalty or action taken by any regulatory authorities in future, for non-compliance with provisions of corporate or any other law could impact the financial position of the Company to that extent.
- There are certain instances of delays in payment of statutory dues by it. Any further delays in payment of statutory dues may attract financial penalties from the respective government authorities and in turn may have a material adverse impact on its financial condition and cash flows.
- A substantial portion of its revenue is concentrated from services related to companies which are part of Home Improvement & Construction industry . A loss of customer from this service may affect the company revenues and profitability.
- The company is exposed to the risk of delays or non-payment by our clients and other counter parties, which may also result in cash flow mismatches.
- Exchange rate fluctuations may adversely affect its results of operations as the company revenues is denominated in foreign currencies.
- Its software products may be susceptible to issues arising from coding errors, configuration faults, or other technical defects, which could result in significant costs for the company, delays in revenue generation, and potential exposure to legal proceedings.
- Its business and results of operations are dependent on the Master Service agreements/ Agency Staffing agreements that we enter with the company key customers. Any breach of the conditions under these agreements may adversely affect its business and results of operations.
- The Company has reported certain negative cash flows from its operating activity, investing activity and financing activity, details of which are given below.
- The Company's Logo "LOGICIEL SOLUTIONS" is not registered with Registrar of Trademark, any infringement of its logo or failure to get it registered may affect the company Business. Further, any kind of negative publicity or misuse of its logo could hamper the company Goodwill and its future Growth Strategies could be affected.
- Fails to attract and retain highly skilled IT professionals could adversely affect its business, financial condition and results of operations.
- The company is dependent on its ability to customize software products as per the demands and requirements of the customer based on latest technology. If its not able to enhance current portfolio in response to evolving industry requirements, our operating results may be negatively affected.
- Its Registered Office has been taken on long term lease from the owner/promoters.
- Its business has experienced employee attrition over the stub period and past three financial years, which may impact operational continuity and increase recruitment and training costs. High turnover could also affect the retention of key talent and expertise critical to the company growth and performance.
- The company has certain outstanding litigation involving the company, promoters, director, Key Managerial Personnel & Senior Managerial Personnel. Any adverse outcome of which may adversely affect its business, reputation and results of operations.
- Cyber risk and the failures to maintain the integrity of its operational or security systems or infrastructure, or those of its customers with which the company conduct business, could have a material adverse effect on its business, results of operations, financial condition and cash flows.
- The Company will not receive any proceeds from the Offer for Sale. Its Promoter Selling Shareholders will receive the proceeds from the Offer for Sale.
- The company has in the past entered into related party transactions and its may continue to do so in the future.
- The Objects of the Offer for which funds are being raised, are based on its management estimates and any bank or financial institution or any independent agency has not appraised the same. The deployment of funds in the project is entirely at our discretion, based on the parameters as mentioned in the chapter titles "Objects of the Offer".
- Its may acquire or make strategic investments in complementary businesses, technologies, services or products, or enter into strategic partnerships or alliances with third parties, which may not turn out to be successful.
- The company has in the last 12 months issued Equity Shares at a price that may be at lower than the Offer Price.
- Its may become liable to the company customers and lose customers if the company has defects or disruptions in its software products. The company may also be liable in the event of misuse of its software products or platforms.
- The average cost of acquisition of Equity Shares held by its Promoters and selling Shareholder's may be less than the Offer Price.
- The company Promoters play key role in its functioning and the company heavily relies on their knowledge and experience in operating its business and therefore, it is critical for the company business that its promoters remain associated with it.
- The company requires certain approvals and licenses in the ordinary course of business and the failures to successfully obtain/renew such registrations would adversely affect its operations, results of operations and financial condition.
- Its Promoters will continue jointly to retain majority control over the Company after the Offer, which will allow them to determine the outcome of matters submitted to shareholders for approval.
- Its may be unable to detect, deter and prevent all instances of fraud or other misconduct committed by the company employees which may have a material adverse effect on its business, reputation, results of operations, financial condition and cash flows.
- The implementation process of solutions may in some cases be time consuming, and any failures to satisfy its clients or perform as desired could harm the company business, results of operations, and financial condition.
- Orders placed by customers may be delayed, modified or cancelled, which may have an adverse effect on its business, financial condition and results of operations.
- Its mainly cater to startups and growing businesses, which may expose it to elevated business and credit risks.
- Its insurance coverage may not be adequate to protect it against certain unprecedent hazards and this may have a material adverse effect on the company business.
- None of its Directors have any prior experience of being a director in any other listed company in India.
- Failures to offer client support in a timely and effective manner may adversely affect its relationships with the company clients.
- Its global operations subject it to additional risks that can adversely affect the company results of operations.
- The company Promoter and Directors may have interests in the company other than reimbursement of expenses incurred and normal remuneration or benefits.
- Its business is dependent on developing and maintaining continuing relationships with its clients and customers. The loss of any significant client or customer could have a material adverse effect on its business, financial condition and results of operations.
- The company has not commissioned an industry report for the disclosures made in the chapter titled `Industry Overview' and made disclosures on the basis of publicly available data and such data has not been independently verified by it.
- Intense competition in the market for technology services could affect its pricing, which could reduce the company share of business from clients and decrease its revenues and profitability.
- If the company is unable to source business opportunities effectively, its may not achieve the company financial objectives.
- Its ability to pay dividends in the future will depends upon the company future earnings, financial condition, cash flows, working capital requirements, capital expenditure and restrictive covenants in its financing arrangements.
- If the company is unable to establish and maintain an effective system of internal controls and compliances, its business and reputation could be adversely affected.
- Its future fund requirements, in the form of further issue of capital or securities and/or loans taken by it, may be prejudicial to the interest of the Shareholders depending upon the terms on which they are eventually raised.
The Issue type of Logiciel Solutions Ltd is Book Building - SME.
The minimum application for shares of Logiciel Solutions Ltd is 1200.
The total shares issue of Logiciel Solutions Ltd is 2067600.
Initial public offer of up to 20,67,600 equity shares of face value of Rs. 10/- each of Logiciel Solutions Limited ("LSL" or the "Company" or the "Offeror") at an offer price of Rs. 193 per equity share (Including a Share Premium of Rs. 183 per Equity Share) for Cash, aggregating up to Rs. 39.90 crores ("Public Offer") comprising of a fresh issue up to 16,94,400 equity shares aggregating to Rs. 32.70/- crores (the "Fresh Issue") and an offer for sale of up to 1,86,600 equity shares by Umesh Sharma and up to 1,86,600 by Ajay Sharma ("the Promoter Selling Shareholders"), aggregating up to 3,73,200 equity shares by the promoter selling shareholders ("Offer for Sale") aggregating up to Rs. 7.20 crores, out of which 1,03,800 equity shares of face value of Rs. 10/- each at an offer price of Rs. 193/- per equity share including a share premium of Rs. 183/- per equity share aggregating to Rs. 2.00 crores will be reserved for subscription by market maker to the offer (the "Market Maker Reservation Portion"). The offer less the market maker reservation portion i.e. net offer of 19,63,800 equity shares of face value of Rs. 10/- each at an offer price of Rs. 193/- per equity share including a share premium of Rs. 183/- per equity share aggregating to Rs. 37.90 crores is herein after referred to as the "Net Offer". The offer and the net offer will constitute 27.69% and 26.30 %, respectively, of the post offer paid up equity share capital of the company.
Price Band: Rs. 193/- for equity share of face value of Rs. 10 each.
The floor price is 19.30 times times the face times of the face value of the equity shares.
Bids can made for a minimum of 1,200 equity shares and in multiples of 600 equity shares thereafter.