Nelsoft IPO draft papers is with SEBI for raising funds via IPO
Nelsoft IPO – Nelsoft Ltd, based in Pune, has submitted a preliminary red herring prospectus to the Securities and Exchange Board of India (SEBI) in order to raise funds through an initial public offering (IPO).
Nelsoft IPO will consist of a fresh issue of Rs 1,000 crore and an offer for sale of up to 8 million shares by current promoters and shareholders.
The funds raised from the IPO will be allocated towards various capital expenditures, including the civil construction and interior development of its Viman Nagar office, the establishment of new workstations and infrastructure at the Hinjewadi office, and the acquisition of advanced IT infrastructure such as computer graphics workstations, servers, cloud systems, scanners, network switches, and printers. Additionally, the funds will be used for the procurement of software subscriptions and licenses.
Leading the issue are Equirus Capital and IIFL Capital. Nelsoft Ltd is a technology-driven engineering services and solutions (ER&D) company with over 20 years of experience serving clients in the Architecture, Engineering, and Construction (AEC), Manufacturing, and Industrial Plant sectors.
The company’s services are centered around digitalization, digitization, and automation to improve efficiency and sustainability in design-build-operate activities.
In the fiscal year 2024, Nelsoft reported revenue of Rs 325.85 crore, an increase from Rs 291 crore in the previous year, with a net profit of Rs 57.85 crore compared to Rs 46.64 crore in the preceding year.
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Disclaimer: This blog post is for informational purposes only and should not be considered financial advice. Investors should conduct thorough research and consult with a qualified financial advisor before making any investment decisions.