Primech Holdings Ltd.

General Information
Business:

We are an established technology-driven facilities services provider in the public and private sectors operating mainly in Singapore. Our mission is to support businesses by improving lives and strengthening communities through our business practices and ethics. We compete primarily in Singapore, with a small portion of our operations in Malaysia.

We provide general cleaning services and maintenance of public and private facilities, such as airports, conservancy areas (i.e., the public areas, refuse disposal areas, parks and carparks of public housing units), common areas of hotels, educational institutions, public roads, residential spaces, commercial buildings, office facilities, industrial areas, retail stores and healthcare facilities; housekeeping services; specialized cleaning services, such as marble polishing services; building façade cleaning services and clean room sanitation services, and waste management and pest control services.

We derive the majority of our revenue from the provision of facilities services, which accounted for approximately $36.9 million or 77.3% of our revenue in FY 2020 and approximately $40.6 million or 84.4% of our revenue in FY 2021. For the six months ended September 30, 2020 and 2021, we generated approximately $18.7 million or 82.6% of our revenue and approximately $22.9 million or 87.2% of our revenue, respectively, from the provision of facilities services.

Note: For the fiscal year ended March 31, 2021, our revenue was $48.08 million and our net income was $5.36 million.

Note: For the six months ended Sept. 30, 2021, our revenue was $26.24 million and our net income was $405,312.

(Note: Primech Holdings Ltd. added Spartan Capital Securities as a joint book-runner, teaming with Pacific Century Securities, in an F-1/A filing dated June 16, 2022. Primech Holdings ltd. filed terms for its IPO – 5 million shares at $4 to $5 each to raise $22.5 million – in its F-1/A filing dated May 31, 2022. The company also changed its sole book-runner to Pacific Century Securities, LLC, according to this filing; its previous sole book-runner was Tiger Brokers. Primech Holdings filed its F-1 (prospectus) on March 31, 2022. The company had filed confidentially to go public on Nov. 24, 2021.) 

Industry: SERVICES-TO DWELLINGS & OTHER BUILDINGS
Employees: 2613
Founded: 1984
Contact Information
Address 23 Ubi Crescent Singapore 408579
Phone Number +65 6286 1868
Web Address https://www.homehelpy.com/
View Prospectus: Primech Holdings Ltd.
Financial Information
Market Cap $166.5mil
Revenues $51.63 mil (last 12 months)
Net Income $0.92 mil (last 12 months)
IPO Profile
Symbol PMEC
Exchange NASDAQ
Shares (millions): 5.0
Price range $4.00 - $5.00
Est. $ Volume $22.5 mil
Manager / Joint Managers Pacific Century Securities/ Spartan Capital Securities
CO-Managers -
Expected To Trade:
Status: TBA
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change