Indian Software Undervalued Small Caps

Intellect Design Arena

Market Cap: ₹124.7b

Engages in the development, marketing, and sale of integrated banking software systems in India and internationally.

R Systems International

Market Cap: ₹43.2b

A digital product engineering company, designs and builds chip-to-cloud software products and platforms.

Ramco Systems

Market Cap: ₹16.0b

Operates as an enterprise software company in the United States, Europe, the Asia-Pacific, India, and the Middle East, and Africa.