SEBI had approved the Initial Public Offering (IPO) of Ospyn Technologies Ltd. on February 11, 2025. The company plans to proceed with the IPO, subject to market conditions and other necessary approvals. The exchange approval is valid for 12 months from the date of approval.
Ospyn Technologies Ltd.’s IPO will be conducted through a Book Building process. The company proposes to list its equity shares on the BSE SME platform. GYR Capital Advisors Pvt. Ltd. is the Book Running Lead Manager, while Kfin Technologies Ltd. will act as the registrar of the issue.
Key details, including issue dates, price band, and lot size, are yet to be announced. For more information, investors may refer to the Draft Red Herring Prospectus (DRHP).
Ospyn Technologies IPO Objectives
- The company intends to use part of the funds to prepay or repay certain outstanding loans, which will help reduce interest costs and improve the financial position.
- A portion of the proceeds will be used to fund the company’s day-to-day operational needs, ensuring smooth business operations and liquidity.
- Some funds will be allocated for general corporate activities, such as business expansion, strategic initiatives, or other corporate requirements, with a cap of 25% of the gross proceeds.
About Ospyn Technologies Ltd.
Ospyn Technologies is a software company that uses AI to automate content, data, and business processes. It serves sectors like banking, government, education, and healthcare, helping organizations save time, reduce errors, and work more efficiently. The company operates in India, the Middle East, and the USA, and is recognized for driving digital transformation with AI-powered solutions.
Ospyn offers products such as OspynDocs for document management, Business Process Management (BPM), TradeZact for trade finance automation, EdTech software, Customer Onboarding solutions, and Ospyn AI for intelligent workflow automation. These solutions use AI and machine learning to simplify operations, improve compliance, and speed up decision-making.
The company also provides 24x7 IT infrastructure services, including server management, cloud support, and disaster recovery. Ospyn earns revenue from software licenses and milestone-based service fees. Its financial performance shows strong growth: total revenue grew from ₹1,677.60 lacs in FY22 to ₹3,243.20 lacs in FY24, EBITDA (adjusted) rose from ₹46.31 lacs to ₹938.37 lacs, and PAT increased from a loss of ₹17.76 lacs to ₹563.57 lacs.
Industry Outlook
- India’s IT spending is expected to grow 11.1% in 2024, reaching US$138.6 billion from US$124.7 billion in 2023. This strong growth increases demand for AI, process automation, and enterprise software solutions, thereby boosting Ospyn’s growth.
- Indian IT companies maintain delivery centers worldwide, with major firms like TCS, Wipro, and Infosys creating 1.05 lakh jobs in FY22. The growing demand for IT services internationally will open up opportunities for Ospyn for expansion.
- India ranks among the world’s cheapest for data at Rs.10/GB (US$0.12/GB) and benefits from government initiatives like AI, cybersecurity, and the PLI scheme for IT hardware. These policies lower operational costs and encourage faster adoption of digital solutions, allowing Ospyn to scale its AI-driven offerings efficiently.
How To Apply for the Ospyn Technologies IPO Online?
- Login to Your Angel One Account: Open the Angel One app or website and log in with your credentials.
- Locate the IPO Section: Navigate to the 'IPO' section on the platform.
- Select IPO: Find and select the Ospyn Technologies IPO from the list of open IPOs.
- Enter the Lot Size: Specify the number of lots you want to bid for.
- Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application.
- Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN.
How To Check the Allotment Status of Ospyn Technologies IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app.
- Go to the IPO Section and then to IPO Orders.
- Select the individual IPO that you had applied for and check the allotment status.
- Angel One will notify you of your IPO allotment status via push notification and email.
Contact Details of Ospyn Technologies IPO
Registered office: 1st Floor, Kabani West Side, Technocity, Thonnakkal, Thiruvananthapuram, Kerala, Pin Code: 695317
Phone: +91 99416 46633
Email: cs@ospyn.com
Ospyn Technologies IPO Reservation
|
Investor Category |
Shares Offered |
|
QIB |
Not more than 50% of the Net Offer |
|
Retail |
Not less than 35% of the Net Issue |
|
NII |
Not less than 15% of the Net Issue |
Ospyn Technologies IPO Promoter Holding
|
Particulars |
Holding (%) |
|
Promoter Holding Pre-Issue |
94.80% |
|
Promoter Holding Post-Issue |
[To be updated] |
Note: Equity dilution will be determined by subtracting the Shareholding Post Issue from the Shareholding Pre Issue.
Key Performance Indicators for Ospyn Technologies IPO
|
Particulars |
2024 |
2023 |
2022 |
|
Growth in Revenue (%) |
8.03 |
78.96 |
NA |
|
EBITDA Margin (%) |
27.42 |
18.46 |
2.75 |
|
PAT Margin (%) |
17.38 |
11.46 |
-1.06 |
|
ROE (%) |
32.08 |
26.76 |
-1.54 |
|
ROCE (%) |
55.44 |
31.57 |
0.07 |
Ospyn Technologies IPO Prospectus
Ospyn Technologies IPO Registrar and Lead Managers
Ospyn Technologies IPO Lead Managers
- GYR Capital Advisors Pvt. Ltd.
Registrar for Ospyn Technologies IPO
Kfin Technologies Ltd.
- Phone: 04067162222, 04079611000
- Email: otl.ipo@kfintech.com
- Website: https://ipostatus.kfintech.com/
Financials of Ospyn Technologies
| Particulars | 2024 | 2023 | 2022 |
|---|---|---|---|
| Total Income (₹ Lakhs) | 3,359.26 | 3,036.11 | 1,681.17 |
| Profit After Tax (PAT) (₹ Lakhs) | 563.57 | 344.16 | -17.76 |
| Revenue from Operations (₹ Lakhs) | 3,243.20 | 3,002.16 | 1,677.60 |
| EBITDA (₹ Lakhs) | 920.96 | 560.32 | 46.31 |
| Other Income (₹ Lakhs) | 116.06 | 33.95 | 3.57 |
Know before investing
Strengths
5Continuously investing in R&D to stay ahead in AI automation solutions.
Senior management has maintained zero attrition over the past fifteen years.
Fully bootstrapped, promoting financial discipline, independence, and sustainable business growth.
Serving Tier 2, 3, and 4 SMEs with integrated solutions.
Total revenue grew from ₹1,677.60 lacs FY22 to ₹3,243.20 lacs FY24.
Risks
5Top 1 customer contributed 21.97% of revenue in FY24, high concentration risk.
Top 10 customers generated 75.05% of total revenue in FY24.
No long-term contracts; most projects end at completion, affecting revenue stability.
Requires multiple statutory approvals; delays could interrupt operations and impact profitability.
Employee strength of 476; failure to retain skilled personnel may affect growth.
Peer Comparison
| Competitor | Total Income (₹ Lakhs) | EPS (Basic) ₹ | RoNW (%) | P/E Ratio (times) |
|---|---|---|---|---|
| Newgen Software Technologies Ltd | 1,29,189.29 | 18.02 | 20.56 | 70.89 |
| Aurionpro Solutions Ltd | 89,652.22 | 60.48 | 15.37 | 27.99 |
| Ospyn Technologies | 3,359.26 | 4.03 | 27.42 | NA |
