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:
- Mr. Praveen Chakravarthy Medikundam (Designation: Non-executive Director and Chairman)
- Mr. Samuel Alemu (Designation: Non-executive Director)
- 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 |
|---|---|---|
| Promoters | ||
| 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 E-mail:quintessence@qeplindia.com, Website: www.qeplindia.com |
