Technology-driven engineering services and solutions provider Neilsoft has submitted draft documents to capital markets watchdog Sebi to raise money through an IPO.
According to the draft red herring prospectus (DRHP) submitted on Thursday, the Pune-based company’s initial public offering (IPO) consists of an offer for sale (OFS) of 80 lakh shares by promoters and other selling shareholders and a new issue of shares valued at Rs 100 crore.
SICOM Ltd. and the Small Industries Development Bank of India are among the companies offering shares in the OFS.
The Rs 69.63 crore in proceeds from the new issue would finance capital expenditures. Additionally, a portion would be used for general business needs.
Neilsoft was established in 1991 and offers specialized engineering services, such as AEC design solutions, industrial plant design, and production line and manufacturing equipment design. Additionally, it creates customized software applications and provides Engineering Process Outsourcing (EPO) services to facilitate digital transformation.
Neilsoft had 1,429 permanent workers as of August 2024.
In terms of finances, the company’s operating revenue climbed by 12% to Rs 326 crore in FY24 from Rs 291 crore in the previous fiscal year.
In FY24, profit after tax increased by 24% to Rs 58 crore from Rs 46.64 crore in FY19.
Operational revenue was Rs 88.24 crore for the three months ending June 2024, while profit after tax was Rs 14 crore.
IIFL Capital Services and Equirus Capital are the book-running main managers. It is suggested that the equity shares be listed on both the BSE and the NSE.
