Prodocs Solutions IPO: Subscription Status, Price Band & Key Details Explained

Market Performance

The SME IPO space stayed active as Prodocs Solutions' IPO opened for subscription on Monday, December 8. The sentiment around small and mid-sized offerings remains mixed, and this issue added another layer of interest as investors tracked its subscription numbers through the day.

By early afternoon, the market reaction was cautious. The broader trend across SME counters also reflected a wait-and-watch approach, making the Prodocs Solutions IPO one of the closely observed listings of the week.

Main News: Prodocs Solutions IPO Opens for Subscription

The Prodocs Solutions IPO, an SME public issue, opened its subscription window on December 8. The company is raising ₹27.60 crore through a book-built issue that includes both a fresh issue and an offer for sale.

The structure of the issue is clear and balanced:

• Fresh Issue: 16,00,000 shares (₹22.08 crore)
• Offer for Sale (OFS): 4,00,000 shares (₹5.52 crore)

Before the IPO opened, the company secured ₹7.70 crore from anchor investors by allotting 5.58 lakh shares at ₹138 per share.

This anchor round included allocations of 3.40 lakh shares and 2.18 lakh shares, respectively, across two fund houses.

Subscription Status (as of 1:40 PM on Day 1)

The early numbers showed a slow but steady start:

• Overall Subscription: 0.24 times
• Retail Investors: 0.04 times
• Non-Institutional Investors (NII): 0.81 times
• QIB: No bids recorded yet

These figures often see sharp movement toward the end of the subscription period, but the first-session reading helps set initial market sentiment.

Company Details & IPO Structure

The Prodocs Solutions IPO price band has been fixed at ₹131–₹138 per share, placing it in line with typical SME valuations. The bidding will stay open from December 8 to December 10.

Important IPO Details (Point-to-Point)

• Price Band: ₹131 to ₹138
• IPO Date: December 8–10
• Issue Size: ₹27.60 crore
• Fresh Issue: ₹22.08 crore
• OFS: ₹5.52 crore
• Lot Size: 2,000 shares (both min & max for retail)
• Reservation Structure:
  • QIB: 46.50% (9,30,000 shares)
  • Retail: 33.50% (6,70,000 shares)
  • NII: 15% (3,00,000 shares)

Allotment & Listing Timeline

• Allotment: Expected on December 11
• Demat Credit: Expected on December 12
• Listing: Proposed on December 15 on BSE SME
• Registrar: MUFG Intime India Private Limited
• Lead Manager: Cumulative Capital Private Limited

The timeline follows the standard T+3 listing cycle.

What Prodocs Solutions Does

Prodocs Solutions operates in the IT-enabled services (ITES/BPO) space. The company is particularly focused on the non-voice BPO segment, working across categories such as:

• Indexing services
• Title services
• E-publishing
• Finance & accounting services
• Litigation support

Its business model revolves around process-driven back-office operations, which have shown rising demand over the years.

Financial Performance (As per RHP)

The financials of Prodocs Solutions show an upward trend, especially in profitability.

Revenue from Operations

• FY23: ₹36.61 crore
• FY24: ₹45.43 crore
• FY25: ₹41.79 crore
• FY26 (H1): ₹20.54 crore

Net Profit

• FY23: ₹1.54 crore
• FY24: ₹3.16 crore
• FY25: ₹5.11 crore
• FY26 (H1): ₹3.43 crore

This steady rise in profit across four financial periods highlights efficiency improvements within the company’s non-voice BPO operations.

Use of IPO Proceeds

The company intends to allocate the fresh issue funds toward:

• Development and support of custom software
• Capital expenditure on IT and hardware
• Working capital needs
• Loan repayment
• General corporate purposes

These allocations are directly linked to strengthening operational capabilities.

Summary

The Prodocs Solutions IPO brings another SME listing to the market, one backed by consistent financial performance and a diversified BPO service portfolio. With a ₹27.60 crore issue size and a ₹131–₹138 price band, the IPO attracted initial attention from NIIs, while retail and QIB participation started slowly on Day 1.

The issue remains open till December 10, with allotment likely on December 11 and the proposed listing on December 15.

Investors across the market will be watching how the subscription momentum builds over the next sessions.