Lex Nimble Solutions Ltd

Lex Nimble Solutions

About the Company:

Lex Nimble Solutions is engaged in business of Appraisal Advisory, Certification, training and related services on quality models, IT product and development and services.

Company was incorporated in the name and Style of ‘ILBSG Professional Services Private Ltd (Incorporated in 2005) to engage in Business outsourcing, IT and supporting services. Later on, the name of the Company was changed to Lex Nimble Solutions Private Limited with effect from 17th January, 2012.

They also offer support in developing and maintaining enterprise information portals or corporate portals that is the framework for integrating information, people and processes across organizational boundaries.

Some of the recent works done in this domain include, development of mobile application and web application compatibility for Dubai port authority.

They also provide certification services for ISO 9001:2015, ISO 20000-1:2011 and ISO 27001:2013 each represents a standard of quality.

The major revenue streams are:

IT application development, maintenance and support:

They offer back office support in developing customer centric applications along with maintenance and support services. These applications are primarily developed by Lex Nimble Solutions Inc., Their holding company and ILBSG LLP, USA which is a promoter group venture. (. These two entities are also their major customers)

Some of the products developed by the Company are as follows:

MyESQ.NG is a complete integrated portal for the entire lifecycle management of petitions of over fifty-two types, covering the requirements of customers, petitioners, and Attorneys for immigration management. The portal is integrated with Android and IOS mobile applications.

SimpleLaw is a collaboration platform for lawyers, clients, paralegals and law firm back offices. It is a cloud based case management system for lawyers to streamline law practice, case management, client communication, conversations, collaborate with other lawyers and therefore, building their own legal ecosystem. The portal is integrated with Android and IOS mobile applications.

MemberPlus is a dynamic web application for posting the latest articles and news pertain to immigration law. The application allows the attorneys to publish new articles and notify the customers. The customers can access the news using web application and mobile application.

KaizenTree is a software development lifecycle automation application to automate the complete workflows for agile scrum based work flow management for software development. The tool allows the users to track the issues, assignments, time sheets and pending task, track risk, and issues.

LexQ-Track is an integrated portal for automating the third-party certification body operations. From proposals to certification all workflows are defined in the portal. The portal is under development and beta version has been released for testing.

vTrack 2.0 is a generic case tracking system to sort out software defects, project related issues, customer support issues, insurance claims, inter department issues, if any, in an organization.

Immitrack is the most advances immigration law office automation system, highly scalable and can be easily configured to meet any legal and regulatory requirement.

Corporate training:

Company’s corporate training and consulting revolves around the certification process.Their customized training includes understanding client specific needs and training them to become equipped in the following domains for which we house an expertise.

A snapshot of some of the tools or business models of training that they use and implement are shared herein:

  • Agile – Scrum.
  • ISO training and implementation assistance.
  • Six Sigma and Lean Sigma – training, consulting and project selection and implementation assistance.
  • Project management, training and consulting.
  • Customized training.
  • Technology training.(Mobile Application development using Android)
  • CMMI development and Software Version Control (SVC).


Management Team:

  1. Mr. Praveen Chakravarthy Medikundam (Designation: Non-executive Director and Chairman)
  2. Mr. Samuel Alemu (Designation: Non-executive Director)
  3. Smt. Sarada Devi Medikundam (Designation: Non-executive Director)


Promoters Average Acquisition Cost:

Name of the Promoter No. of Shares held Average Acquisition Cost (in Rs.)
Lex Nimble Solutions Inc 30,10,668 14.26


Promoters Stake Pre & Post Issue:

Shareholder Name Pre Issue Stake (%) Post Issue Stake
Lex Nimble Solutions Inc 97.81 71.85
Mr. Praveen Chakravarthy Medikundam —- ——
Promoters Group Entities              2.18          1.60
Total 99.99% 73.45%


Objectives of the Issue:

  • Foraying into CMMI consulting.
  • Establishment as an ISO certifying body.
  • Customisation of the product SimpleLaw for the Indian market.
  • General Corporate purposes.
  • Issue Expenses.


Fund Utilization:

Particulars Amount (Rs. in Crores)
Foraying into CMMI consulting 1.59
Establishment as an ISO certifying body 1.59
Customisation of SimpleLaw for the Indian market 1.90
General Corporate Purposes 0.80
Issue Expenses 0.44
Net Proceeds 6.34 cr


Financials of the Company:

(in Crores) FY 13 FY 14 FY 15 FY 16 FY 17 31st Oct 17
Revenue  1.27  2.19  1.41 1.42 1.74   1.00
Net Profit  0.07  0.10  0.12  0.11  0.05  0.12


Valuation of Peer Group Companies:

Company Name Face Value EPS PE Ratio RoNW NAV
Lex Nimble Solutions 10 0.98 58.16 1.04% 94.42
Intrasoft Technologies Ltd 10 17.28 89.75 31.00
HOV Services Ltd 10 0.9 301.7 70.1 1.3


IPO Details:

Details Info
Issue Opens on 12th March 2018
Issue Closes on:. 23rd March 2018
Issue Price Rs.57
Face Value Rs.10
Minimum Lot 2000
Minimum Investment Rs.1,14,000
Issue Constitutes 26.54%
Issue Size Rs.6.34 cr
Market Cap Rs.23.88 cr
Listing at BSE SME
Equity Shares Offered 11,12,000
Equity Shares Prior 30,78,000
Equity Shares after the issue 41,30,000


IPO Valuation Parameters:

Earnings Per Share (EPS) Price To Earnings ratio (PE) Return on Net Worth (RoNW) Net Asset Value (NAV)
0.98 58.16 1.04% 94.42


Markets Guruji Opinion:

IPO View Apply For: Expected listing Gain:
Avoid NA NA


Subscription Details:

(Subscription-Category-Wise (no. of times) Till time : 06:00 PM) Shares Offered Day-1 Day-2 Day-3 23/3
HNI  5,28,000  0.33  0.60  1.04 1.99
Retail  5,28,000  0.015  0.04  0.087 0.23
Others  56,000  0.00  0.00  0.00  0.00
Employee     ——  ——  —-  —-  —
TOTAL  11,12,000  0.16  0.305  0.53 1.05


Grey Market Premium :

Date IPO Price Band Grey Market premium
05/03/18 Lex Nimble Solutions Ltd 57 NA


Company Contact Info:
Lex Nimble Solutions Ltd
Q3, Module A1, 10th Floor,
Cyber Towers, Hitec City,
Madhapur, Hyderabad – 500081
Website: https://lexnimble.com


IPO Registrar Info:
Bigshare Services Private Limited
1st Floor, Bharat Tin Works Building,
Opp. Vasant Oasis, Makwana Road,
Marol, Andheri East, Mumbai – 400 059
Tel. No.: +91 ? 22 ? 6263 8200 /
Fax No.: +91 ? 22 ? 6263 8299
e-mail: ipo@bigshareonline.com;
Investor Email: investor@bigshareonline.com
Website: www.bigshareonline.com


Lead Manager to the Issue:
Quintessence Enterprises Private Limited
8-2-603/B/33/A/9, B-201,
Zahera Nagar, Road No.10,
Banjara Hills, Hyderabad ? 500 034,
Telangana Tel No: +91 40 6552 8262
Website: www.qeplindia.com