Softline Values "Software Factory" at 12 Billion Rubles Ahead of AI-Focused IPO

Softline is launching "Software Factory" on the public market and immediately sets an ambitious framework for the deal: the division specializing in custom development and off-the-shelf software is valued at 12 billion rubles. The planned placement price is 25 rubles per share, and the IPO volume is 2 billion rubles. For the market, this is not just another IT asset placement, but a bet that service development can grow faster and with higher margins thanks to AI tools that automate part of the work of programmers, analysts, and support teams.

"Software Factory" operates in a segment where it is usually difficult to promise rapid scaling: custom development traditionally depends heavily on team size and specialist workload. But Softline is putting emphasis on something else. The company combines a project model with reproducible software products, which means it can earn not only on development hours, but also on repeated implementations of the same solutions.

In this context, the IPO looks like an attempt to show investors a more understandable growth story: there is a clear business profile, there is demand for corporate software, there is an opportunity to accelerate production through automation. With the stated placement volume of 2 billion rubles, the market is being asked to finance the next stage of scaling. The main argument for growth is the use of artificial intelligence technologies in development.

It's essentially about a whole set of tools: code generation and verification, automation of routine tasks, acceleration of testing, documentation preparation, and support for product teams. For such a business, this is an important detail. If AI really allows reducing time on routine operations, the company gets a chance to execute more projects with the same staff, launch scalable solutions faster, and manage cost of goods sold more carefully.

Against the backdrop of a general shortage of qualified engineers, this is particularly important: revenue growth stops being completely tied to hiring new people. At the same time, the valuation of 12 billion rubles itself shows that "Software Factory" is expected to be not a static service, but a technological platform with potential for efficiency gains. Investors in such stories usually look not only at the current contract portfolio, but also at how reproducible the business model is.

If the division can turn AI into a real production tool, rather than a marketing overlay, its economics can change significantly: higher delivery speed, lower share of manual work, more opportunities to package developments into scalable products. But the flip side is also obvious: the market will expect proof that automation really affects timelines, quality, and financial results, not just sounds good in an investment presentation. For the Russian IT market, this deal could also be a test of investor attitudes toward AI stories within applied business.

Over the past two years, almost every technology company has talked about development automation, but the public market usually evaluates not promises, but the ability to translate them into revenue and profit growth. "Software Factory" has a clear starting point: an existing business in custom development and product solutions. Now the company needs to convince the market that AI for it is not an external hype, but a tool that transforms the production workflow and allows it to grow faster than traditional integrators and development studios.

What this means: Softline is bringing to the stock exchange not just a software developer, but a story about the transformation of IT production with AI. If the placement goes through as stated, the company will get capital for expansion and a public valuation of its AI strategy. For investors, this is a chance to bet on a segment where artificial intelligence should increase efficiency in a very applied and measurable zone — the creation of software products.

For the market as a whole, this will be an indicator of whether money is willing to go into AI stories when it comes not to laboratories, but to commercial development.