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17 August 2023

Service Care Limited IPO: Transforming Workspace and Workforce Management

Introduction:

Founded in 2011, Service Care Limited is a prominent player in the realm of Workspace and Workforce Administration Services across diverse business domains. Their offerings encompass Workspace Administration Services that specialize in facility management, and Workforce Administration Services, providing end-to-end HRMS & HROS solutions to address complex HR challenges.

A Proven Track Record:

With over 23 years of industry experience and a substantial market presence, Service Care Limited has built a strong reputation among customers and partners nationwide. Boasting a team of more than 5,800 associates, including contractual employees, the company serves a wide spectrum of clients from various sectors including Engineering, Education, Manufacturing, Infrastructure, Government & Banking, Information Technology, healthcare, Staffing & Recruitment, Food, FMCG verticals, and more.

Key Services:

1. Workspace Administration Services: Providing professional facility management services to optimize workspace operations.
2. Workforce Administration Services: Offering comprehensive HRMS & HROS solutions to tackle intricate HR issues.

Noteworthy Offerings:

- Facility Management: Tailored services to efficiently manage and maintain workspaces.
- HRMS & HROS Solutions: Comprehensive tools to streamline workforce management, solving complex HR challenges.

IPO Details:

Service Care Limited's forthcoming IPO is a Book Built Issue, with an issue size of Rs 20.68 Crores. The IPO price band is set at ₹63 to ₹67 per share, with plans to list on NSE SME. The subscription window for the IPO was open from July 14, 2023, to July 18, 2023, and the listing date is anticipated to be July 26, 2023.

Promoter Holding:

The company is promoted by Mrs. Shany Jalal, Mr. Anil Kumar M, and Mr. Amit Kumar Rakhecha.

Financial Snapshot

Service Care Limited's financial journey reflects its resilience and growth:

Total Assets	₹1,920.92 Lakhs to ₹3,181.30 Lakhs
Total Revenue	₹10,812.34 Lakhs to ₹13,217.29 Lakhs
Profit After Tax	₹136.28 Lakhs to ₹302.34 Lakhs
Net Worth	₹434.38 Lakhs to ₹1,134.66 Lakhs
Reserves and Surplus	₹433.38 Lakhs to ₹1,133.41 Lakhs

Expert Insight:

While Service Care Limited's performance has gained attention due to its earnings surge in 10M-FY23, concerns about sustainability and competition in the segment linger. The IPO pricing is considered aggressive, and due to a lack of transparency in financial data, potential investors may exercise caution.

Conclusion:

Service Care Limited's IPO offers investors an opportunity to participate in the company's pursuit of excellence in Workspace and Workforce Administration Services. As they continue to innovate and address the evolving needs of businesses, investors should carefully consider the expert insights and their own investment goals. The company's journey showcases its commitment to delivering value in the workspace and workforce management landscape. Investors who align with Service Care Limited's vision can play a pivotal role in shaping its future success.

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