Preparing to go public via a ₹39.90-crore book-built issue, Logiciel Solutions SME IPO has a face value of ₹10. The issue combines fresh capital and an Offer-for-Sale (OFS): the fresh issue amounts between ₹30.70 to ₹32.70 crore, while the OFS component involves sale of 1..86 lakh shares (by the promoters), aggregating between ₹7.20 to ₹7.20 crore.
The IPO subscription window runs from 28 November 2025 to 2 December 2025. After the issue closes, the company’s shares are set to debut on the BSE SME platform.
Its price band is pegged between ₹183 and ₹193 per share, and retail investors can bid in lots of 600 shares (minimum investment is ₹1,15,800). Allocation is arranged with half the issue for QIBs, 15% for non-institutional bidders, and 35% earmarked for retail investors.
Let’s look at more Logiciel Solutions IPO details in this blog.
Logiciel Solutions IPO Details
The quick overview herein sums up every major detail of the Logiciel Solutions IPO analysis, featuring elements like the Logiciel Solutions IPO share price, etc.
| IPO opening date | November 28, 2025 |
| IPO closing date | December 02, 2025 |
| Face value | ₹10 per equity share |
| Price band | ₹183 to ₹193 each share |
| Issue price | Undisclosed |
| IPO lot size | 600 shares |
| Sale type | Fresh capital-cum-offer for sale |
| Fresh issue | 15,90,600 shares(summing up to ₹30.70Cr) |
| Offer for sale | 3,73,200 shares of ₹10(summing up to ₹7.20Cr) |
| Issue type | Bookbuilding IPO |
| Listing at | BSE as well as NSE |
| Total issue size | 20,67,600 shares (summing up to ₹39.90Cr) |
| Reserved for market marker | 1,03,800 shares (totalling up to ₹2.00Cr) |
| Minimum investment | NA |
| Retail discount | NA |
Logiciel Solutions IPO Timeline
Here is a date-wise rundown of all major events associated with the Logiciel Solutions IPO details in India.
| IPO open date | 28 November 2025 |
| IPO close date | 02 December 2025 |
| Provisional allotment | 03 December 2025 |
| Refund processing | 04 December 2025 |
| Transfer of shares into demat | 04 December 2025 |
| IPO listing | 05 December 2025 |
| Discontinuation date for UPI request validation | 02 December, 2025 (5 PM) |
Logiciel Solutions IPO Reservation
Below is the full reservation distribution assigned to every investor segment for this IPO.
| Investor category | Shares offered |
| Qualified institutional buyers (QIB) | Not more than 50.00% of the Net Offer. (Up to 1,00,200 Equity Shares) |
| NII (HNI) shares offered | Not less than 15.00% of the Net Offer. (At least 9,28,800 Equity Shares) |
| Retail shares offered (RII) | Not less than 35.00% of the Net Offer. (At least 9,34,800 Equity Shares) |
| Market maker reservation | Up to 1,03,800 Equity Shares (5.02% of the offer size). |
Logiciel Solutions IPO Core Performance Indicators
Here is a year-wise look at the company’s key operational and financial benchmarks such as price to book and more.
| Indicator | FY23 | FY24 | FY25 |
| EPS (Basic) (₹) | 2.69 | 7.95 | 10.00 |
| RoNW (%) | 26.80 | 51.78 | 32.80 |
| NAV per share (₹) | 11.37 | 19.32 | 41.09 |
| Debt to equity ratio | 0.09 | 0.05 | 0.00 |
| PAT Margin (%) | 9.54 | 23.23 | 25.83 |
| EBITDA (in ₹ lakhs) | 251.86 | 616.42 | 814.24 |
| RoCE (%) | 28.88 | 52.73 | 31.95 |
Logiciel Solutions IPO Financials
Presented here is a clear snapshot of Logiciel Solutions’ financial results over the disclosed periods.
| Particulars (₹ in lakhs) | FY23 | FY24 | FY25 |
| Revenue from Operations | 1,392.10 | 1,693.62 | 2,090.55 |
| Total Assets | 857.39 | 1,297.92 | 2,739.23 |
| Profit After Tax | 134.40 | 397.26 | 547.43 |
Logiciel Solutions IPO Lot Size
The following table shows the lot-wise investment framework, covering both minimum and maximum limits.
| Application | Lots | Shares | Amount (in ₹) |
| Retail (Min) | 2 | 1,200 | 2,31,600 |
| Retail (Max) | 2 | 1,200 | 2,31,600 |
| S-HNI (Min) | 3 | 1,800 | 3,47,400 |
| S-HNI (Max) | 8 | 4,800 | 9,26,400 |
| B-HNI (Min) | 9 | 5,400 | 10,42,200 |
Logiciel Solutions IPO Promoter Holding
Outlined here is the shift in promoter holding following the conclusion of the IPO process.
| Percentage | |
| Promoter Holding Pre-Issue | 82.78% |
| Promoter Holding Post-Issue | 59% |
Logiciel Solutions IPO Anchor Investors Details
The concise breakdown of the anchor investor allocation structure for the Logiciel Solutions IPO.
| Bid Date | Undisclosed |
| Shares Offered | Up to 60% of the QIB Portion |
| Anchor Portion Size | Yet to be announced |
Logiciel Solutions IPO Prospectus
You can find the complete set of official filings and IPO papers using the links provided below.
About Logiciel Solutions
Logiciel Solutions, founded in 2011, is a global software development company headquartered in Miami, Florida, with delivery centers in Ludhiana, India. The company specialises in building and scaling digital products for startups and B2B SaaS businesses through services such as product discovery, UX/UI design, custom web and mobile app development, cloud-native engineering, DevOps, and QA. It operates as an extension of clients’ in-house teams, offering dedicated, AI-enabled development squads focused on rapid, scalable product delivery. Logiciel Solutions is privately held and emphasises long-term partnerships, better engineering practices, and secure, high-quality software solutions aligned with ISO-certified standards.
| Book running lead managers | Fintellectual Corporate Advisors Private Limited |
| Registrar to the offer | Maashitla Securities Private Limited |
Objectives of the Logiciel Solutions IPO
The following section summarises the stated objectives for deploying IPO proceeds.
| Objects of the issue | Allocation (₹ in Lakhs) |
| Investment in Human Resources through Manpower hiring | 1,527.55 |
| Capital expenditure towards upgrading IT infrastructure | 417.41 |
| Funding for business development and marketing activities | 250.00 |
| Capital Expenditure on upgrading physical infrastructure | 185.83 |
| General corporate purposes | NA |
Strength Of Logiciel Solutions IPO
Here are the strengths underline Logiciel Solutions’ competitive capabilities.
- Startup & growth venture expertise: Specialised in partnering with startup founders and CTOs to support the full software lifecycle from MVP to scale, including rapid team onboarding.
- AI-augmented software development: Early adopter of integrating AI tools (e.g., GitHub Copilot, Windsurf) across the software delivery lifecycle for automated code generation, testing, and bug detection.
- Operational cost efficiency: Operates a hybrid model with a central development center in Ludhiana and remote teams across India, providing high-value delivery at competitive costs compared to US/UK in-house teams.
- Long-term client retention: Significant portion of revenue derived from repeat clients with multi-year engagements; the longest active engagement is entering its 12th year.
- Comprehensive service portfolio: Offers end-to-end services including Custom Software Development, Cloud Engineering (AWS Partner), AI/ML, and UI/UX Design.
Risk of Logiciel Solutions IPO
Outlined below are the core risks associated with the business and its operations.
- Limited client diversification: The single largest customer accounted for 51.34% of revenue for the period ended Sept 30, 2025, and the top 10 customers contributed over 97% of total sales.
- Geographical dependence (USA): Revenue is heavily dependent on customers in the United States (approx. 96.28% for the period ended Sept 30, 2025), creating vulnerability to US economic conditions and regulations.
- Negative cash flows: The company’s cash flow remained in the negative territory for the stub period ending 30 September 2025 and for the full years 2024 and 2025.
- Regulatory non-compliances: History of delays in filing statutory forms (ROC forms) and delays in payment of statutory dues (EPF, ESIC, GST, TDS).
- Likely conflict of interest: Group entity “Logiciel Solutions Inc.” (Canada) operates in a similar line of business, which may result in conflicts of interest regarding business opportunity allocation.
Conclusion
As the Logiciel Solutions IPO hits the market, it offers exposure to the AI and software sector. While revenue growth is strong, recent cash flow issues suggest caution is needed. It is smart to track market demand closely before making an investment decision.
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Logiciel Solutions IPO FAQs
Logiciel Solutions is coming with an SME book-built IPO on BSE SME, sized around ₹37.9–₹39.9 crore, with a price band of ₹183–₹193 per share. The issue comprises a fresh issue and a small OFS; face value is ₹10.
On the opening day, log in to Zerodha Console, go to Portfolio > IPO, select “Logiciel Solutions,” enter the number of lots at a price within ₹183–₹193 or choose cut-off if enabled, submit, and approve the UPI mandate before 5 PM on the close date.
The IPO opens on November 28, 2025, and closes on December 2, 2025, per multiple exchange-tracking portals and brokers’ calendars.
The market lot is 600 shares; some portals show retail must apply for at least 1,200 shares (2 lots) as the minimum application on BSE SME.
Make sure you have a demat and trading account, adequate funds, and an active UPI. During Nov 28–Dec 2, select the IPO in your broker’s IPO section, choose lots (multiples of 600), bid within ₹183–₹193, submit, and accept the UPI mandate by 5 PM.
The basis of allotment is scheduled for December 3, 2025; refunds and share credit are slated for December 4, 2025, as per published timelines.
The Logiciel Solutions IPO is scheduled to list on the BSE SME platform on 5 December 2025, subject to successful allotment, fund settlement, and final exchange approvals.
