Workmates Core2cloud Solution Ltd IPO

About Workmates Core2cloud Solution Ltd

Our Company was originally formed as a Private Limited company under the provisions of the Companies Act, 2013 vide certificate of incorporation dated November 14, 2018, issued by the Central Registration Centre, West Bengal. Our Company was converted from a Private Limited company to a Public Limited company pursuant to the board resolution dated December 12, 2024 and special resolution passed by the Shareholders at the EOGM dated December 16, 2024. Consequently, the name of the company was changed from Workmates Core2Cloud solution Private Limited to `Workmates Core2Cloud Solution Limited` and a fresh certificate of incorporation consequent upon conversion to Public Company dated January 16, 2025 was issued by the Registrar of Companies, Central Processing Centre.

The Cloud Computing Market size is estimated to reach USD 0.79 trillion in 2025, and is expected to reach USD 1.69 trillion by 2030, at a CAGR of 16.4% during the forecast period (2025-2030). The increasing global demand for cloud computing is driven by emerging technologies such as big data, artificial intelligence (AI), and machine learning (ML). The growing focus on customer-centric applications to enhance consumer satisfaction also contributes to these technologies' rise. Cloud-based infrastructure provides flexible and on-demand resource access, supporting new digital business solutions. This technology is beneficial for enterprise resource planning (ERP), online transaction processing (OLTP), and supply chain management (SCM) across various sectors. As of FY23, the IT industry contributed 7.5% to India's GDP, with projections indicating it could reach US$ 350 billion by 2026, accounting for 10% of the country's GDP. The industry added 290,000 new jobs in FY23, bringing the total workforce to 5.4 million people. In FY22, India's IT sector generated US$ 227 billion in revenue, a 15.5% year-on-year growth, and is estimated to have reached US$ 245 billion in FY23. According to a 2021 AWS survey, India is expected to see a ninefold increase in digitally skilled workers by 2025, requiring approximately 3.9 billion digital skill training sessions. By 2026, India will need 30 million digitally skilled professionals. The Indian software product industry is expected to reach US$ 100 billion by 2025. Indian companies are focusing on expanding their international presence by investing globally and enhancing their global delivery centers. In this context, Tata Consultancy Services (TCS) announced in February 2021 that it would hire 1,500 technology employees in the UK over the next year, a move aimed at improving TCS's ability to serve UK customers efficiently.

Workmates is a cloud and digital transformation company, dedicated to helping enterprises modernize, secure, and scale their digital core. In just six years, we have grown from a startup to a Premier Tier AWS Partner a distinction recognised for only a select group globally by AWS. This status reflects our deep technical expertise, proven customer success, and our ability to deliver complex cloud projects at scale. Completely bootstrapped and built with unwavering passion and grit, Workmates is led by a dynamic and visionary team of co-founders and professionals who have successfully steered the company to date. We were recently recognized as the AWS Consulting Partner of the Year 2025, a testament to our excellence in delivery, innovation, and customer satisfaction.

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