The Initial Public Offering(IPO) for the week is-
Fidel Softech Limited-
Fidel Softech limited is a Lang Tech consulting firm that offers technology services in local languages UI/UX. The services are IT services that include software development, infrastructure, and cloud support, localization that includes translation, interpretation, software localization, multilingual data creation, and consulting and staffing services.
The company helps its clients with technology, languages, and people. It helps its customers to deliver solutions to end-users in their local languages by leveraging technology and localization and has engineers speaking in various languages working for the Asian market. The company trains its engineers in various languages and technology to work closely with clients.
Fidel Softech has in-house linguistics and technology skillsets that provide better control on delivery timelines, quality, and pricing and specializes in delivering technology solutions in local languages there has the advantage to work in regions that have language dependencies.
The company caters to both domestic and international markets and has an office in Pune. It has clients in Gujarat, Haryana, Himachal Pradesh, Karnataka, Kerala, Madhya Pradesh, Maharashtra, New Delhi, Orissa, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal. Internationally the company has executed projects in Argentina, Belgium, China, Cyprus, Dubai, Egypt, Germany, Hong Kong, Ireland, Italy, Japan, Saudi Arabia, Malaysia, Mauritius, Netherland, New Zealand, Poland, Portugal, Russia, Singapore, South Korea, South Africa, Spain, Sweden, Taiwan, United Kingdom and the United States of America.
The promoters of the company are Mr. Sunil Sudhakar Kulkarni and Mrs. Prachi Sunil Kulkarni. The objects of the public issue are to fund working capital requirements and listing would enhance the company’s brand name and corporate image.
The company had revenues of Rs 22.80 crore with a net profit of 3.14 crores (Year ended March 31, 2020), revenues of Rs. 26.20 crore with a profit of Rs. 3.45 crore (Year ended March 31, 2021) and revenue of Rs. 26.86 crore with a net profit of Rs. 4.56 crore (Year ended March 31, 2022).