India’s SME IPO segment has increasingly attracted investors looking for niche, service-led businesses. Prodocs Solutions Ltd, an IT-enabled services (ITES) and non-voice BPO company with a global client base, is now coming out with its public issue in December 2025. The issue combines a fresh equity raise with an offer for sale, giving the company growth capital while providing a partial exit to existing shareholders.
Here is a detailed look at Prodocs Solutions Limited, its IPO structure, financial performance, and key dates.
About Prodocs Solutions Ltd.
Incorporated in March 2019, Prodocs Solutions Limited operates in the IT-enabled services (ITES/BPO) space, primarily in the non-voice BPO segment.
The company provides a wide spectrum of non-voice outsourced services, including:
- Title Services:
Title insurance and related information services supporting real estate and mortgage settlement processes in the United States and select international markets. - E-Publishing Services:
End-to-end support across various aspects of digital publishing. - Indexing Services:
Indexing for clients in the US, Australia, and the UK, covering a variety of forms such as traffic citations, rebate coupons, and medical forms.
Prodocs Solutions offers offshore solutions tailored to clients primarily based in the United States and Australia. Its delivery operations are largely concentrated in Mumbai, supported by a workforce of over 1,000 employees as of October 31, 2025.
The company holds the following certifications, reflecting its focus on process discipline and governance:
- ISO 9001:2015 for Quality Management
- ISO 14001:2015 for Environment Management
- ISO 27001:2022 for Information Security Management
These certifications help ensure that services adhere to international standards of quality, reliability, and data protection.
Competitive strengths include:
- Integrated solutions across multiple domains
- Strong focus on quality and compliance
- Global reach with a diverse clientele
- Experienced team with domain expertise
Prodocs Solutions IPO Details
Prodocs Solutions IPO is a book-built issue aggregating to ₹27.60 crore. The issue structure is:
- Fresh Issue: 0.16 crore shares aggregating to ₹22.08 crore
- Offer for Sale (OFS): 0.04 crore shares aggregating to ₹5.52 crore
The company intends to list on the BSE SME platform.
Key intermediaries:
- Book Running Lead Manager: Cumulative Capital Pvt. Ltd.
- Registrar: MUFG Intime India Pvt. Ltd.
- Market Maker: Fortune Fiscal Limited
Important IPO Timeline
| Event | Date |
| IPO Open Date | December 8, 2025 (Mon) |
| IPO Close Date | December 10, 2025 (Wed) |
| Tentative Allotment Date | December 11, 2025 (Thu) |
| Initiation of Refunds | December 12, 2025 (Fri) |
| Credit of Shares to Demat | December 12, 2025 (Fri) |
| Tentative Listing Date | December 15, 2025 (Mon) |
| Cut-off time for UPI mandate confirmation | 5 PM on December 10, 2025 |
Key IPO Details
| IPO Date | December 8, 2025 to December 10, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹131 to ₹138 per share |
| Lot Size | 1,000 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 20,00,000 shares (aggregating up to ₹27.60 Cr) |
| Reserved for Market Maker | 1,00,000 shares (aggregating up to ₹1.38 Cr) Fortune Fiscal Limited |
| Fresh Issue (Ex Market Maker) |
15,00,000 shares (aggregating up to ₹20.70 Cr) |
| Offer for Sale | 4,00,000 shares of ₹10 (aggregating up to ₹5.52 Cr) |
| Net Offered to Public | 19,00,000 shares (aggregating up to ₹26.22 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE SME |
| Share Holding Pre Issue | 54,50,000 shares |
| Share Holding Post Issue | 70,50,000 shares |
Prodocs Solutions IPO Reservation
Prodocs Solutions IPO offers a total of 20,00,000 shares, allocated as follows:
| Investor Category | Shares Offered | Percentage of Issue |
| Market Maker | 1,00,000 | 5.00% |
| QIB | 9,30,000 | 46.50% |
| NII (HNI) | 3,00,000 | 15.00% |
| Retail (RII) | 6,70,000 | 33.50% |
| Total | 20,00,000 | 100.00% |
Prodocs Solutions IPO Anchor Investors
| Particulars | Details |
| Anchor Portion Size | ₹7.70 crore |
| Anchor Shares Offered | 5,58,000 |
| Anchor Bid Date | December 5, 2025 |
| Anchor lock-in end date for 50% shares | January 10, 2026 |
| Anchor lock-in end date for the remaining 50% | March 11, 2026 |
Prodocs Solutions IPO Lot Size
Investors can bid for a minimum of 2,000 shares, and in multiples of 1,000 shares thereafter.
| Application Category | Lots | Shares | Amount |
| Retail (Min) | 2 | 2,000 | ₹2,76,000 |
| Retail (Max) | 2 | 2,000 | ₹2,76,000 |
| S-HNI (Min) | 3 | 3,000 | ₹4,14,000 |
| S-HNI (Max) | 7 | 7,000 | ₹9,66,000 |
| B-HNI (Min) | 8 | 8,000 | ₹11,04,000 |
Prodocs Solutions Ltd. Financials
Standalone Financial Performance (Restated)
Prodocs Solutions has shown an interesting financial trend. Between FY 2024 and FY 2025, the company’s revenue decreased by 6%, but profit after tax (PAT) increased by 61%, indicating improved profitability and efficiency.
Key Standalone Financials (₹ crore)
| Particulars | 30 Sep 2025 | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
| Assets | 38.94 | 35.08 | 13.04 | 7.65 |
| Total Income | 21.11 | 42.78 | 45.66 | 36.81 |
| Profit After Tax | 3.43 | 5.11 | 3.16 | 1.54 |
| EBITDA | 5.53 | 8.18 | 4.62 | 2.19 |
| Net Worth | 22.43 | 19.19 | 5.87 | 2.80 |
| Reserves and Surplus | 16.98 | 13.74 | 5.06 | 2.66 |
| Total Borrowing | 7.46 | 7.99 | 2.15 | 0.85 |
Amounts are in ₹ crore as per the restated standalone financial information.
Consolidated Snapshot as of September 30, 2025
The company has also provided a consolidated financial snapshot for the six month period ended September 30, 2025, in ₹ lakh:
| Particulars | 30 Sep 2025 (₹ lakh) |
| Assets | 38.94 |
| Total Income | 2,501.87 |
| Profit After Tax | 378.44 |
| EBITDA | 601.60 |
| Net Worth | 2,293.75 |
| Reserves and Surplus | 1,748.75 |
| Total Borrowing | 1,190.25 |
Key Performance Indicators (KPI)
Based on the restated standalone financials, Prodocs Solutions has reported the following key performance indicators:
| KPI | Value |
| ROCE | 27.12% |
| Debt to Equity | 0.42 |
| Return on Net Worth | 26.62% |
| PAT Margin | 11.94% |
| EBITDA Margin | 19.57% |
Objects of the Issue
Prodocs Solutions proposes to utilise the net proceeds from the IPO towards the following objectives:
| S.No. | Objects of the Issue | Expected Amount (₹ crore) |
| 1 | Design, development, implementation and support for a tailored software to meet the specific needs of the company | 4.31 |
| 2 | Funding capital expenditure towards purchase and installation of IT equipment, computer hardware and other ancillary equipment | 3.93 |
| 3 | Repayment and or pre-payment, in full or part, of certain outstanding borrowings availed by the company | 3.77 |
| 4 | Funding working capital requirements of the company | 4.50 |
| 5 | General corporate purposes | Balance proceeds |
Prodocs Solutions IPO: Peer Comparison
Prodocs Solutions IPO can be compared with peers such as Datamatics Global Services Ltd, Firstsource Solutions Ltd, Infosys BPM, eClerx Services Ltd, and Hinduja Global Solutions Ltd. Reviewing these established ITES and BPO companies helps investors assess Prodocs Solutions’ positioning within the non-voice outsourcing and digital services segment, offering a clearer perspective on its scale, service capabilities, and competitive standing before making investment decisions.
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Conclusion
Prodocs Solutions Ltd offers investors exposure to the non-voice BPO and IT-enabled services segment, with a business model focused on offshore work for clients in the US, Australia and the UK. The company has:
- A diversified service portfolio across title services, e-publishing and indexing services
- A sizeable and certified delivery setup in Mumbai
- Growing profitability, with PAT rising faster than revenue in recent years
- Reasonable return ratios and moderate leverage as reflected in its KPIs
At the same time, as with any SME IPO, investors should carefully evaluate factors such as client concentration, competitive intensity in global BPO markets, currency exposure and execution risks before making an investment decision in the Prodocs Solutions IPO.
If you are exploring more investment opportunities, check out our dedicated page on upcoming IPO listings to stay updated on the latest market offerings.
