Neilsoft Files for IPO: Plans to Raise ₹100 Crores Through Fresh Shares

Neilsoft Files for IPO: Plans to Raise ₹100 Crores Through Fresh Shares Crores

Neilsoft, an engineering services and software solutions company that uses Technology as its key operating tool, has announced its plans for its IPO. Currently, the company has submitted its draft papers with SEBI to intend to launch an IPO to mop up funds for the growth. Pune-headquartered company submitted the Draft Red Herring Prospectus on Thursday that stated the company’s proposal to float new shares of ₹100 crores. Furthermore, 80 lakh equity shares are proposed to be collected by an Offer for Sale, by the promoters and other selling shareholders.

Utilization of Neilsoft Files IPO Funds

Due to this the Offer for Sale (OFS) include share from Small Industries Development Bank of India (SIDBI) & SICOM. This is also noteworthy: the amount of fresh issue ₹69,63,03,208 was used for capital fund, the part of which is used for financing of capital expenditures. A part of the fund will be also utilised for specific and other corporate requirements. The book running lead managers to the IPO are Equirus Capital and IIFL Capital Services. Further, Neilsoft wants to get itself floated on NSE and BSE through its equity shares.

Neilsoft Files Business Model

Neilsoft was founded in 1991 and is a company that focuses on delivering client bespoke engineering solutions. Its services encompass AEC design solutions, industrial plant design, manufacturing equipment and production line design. Also, the company provides engineering process outsourcing (EPO) services and build software solution to facilitate digitalisation. According to the company records, 1,429 people were permanent employees of Neilsoft as of August 2024.

Financial Performance

On the financials front, Neilsoft Files revenue has increased by 12% in FY24 with ₹326 crores against ₹291 crores in the immediately preceding fiscal. The Profit After Tax (PAT) was up by 24 percent, to ₹58 crores, from ₹46.64 crores previously. For the financial year, ending June 2024, the realisation of the company was ₹88.24 crores, and the PAT was ₹14 crores.

Key Highlights

• Fresh Issue: ₹100 crores
• OFS: 80 lakh shares
• Primary Investors in OFS: SIDBI, SICOM
• Fund Allocation:
  • Capital Expenditure: ₹69.63 crores
  • General Corporate Purposes
• Lead Managers: Equirus Capital, IIFL Capital Services
• Listing Exchanges: NSE, BSE

Also Read : Vodafone Group Repays ₹11,650 Crore Debt Pledged Against VIL Shares

Disclaimer

The information contained in this site is strictly for the sole view of passing information only. Stocks are bought in the stock market, and so they are subject to market influence. A word of advise would be to seek the services of a qualified financial advisor before making an investement decision. This article is not an investment advisory recommendation.

The organisation’s advancement plan and growth strategy are evident in Neilsoft’s upcoming IPO announcement. Watch this strategy unravel to evaluate its effect on the engineering services industry.