Pune-based Nelsoft Ltd has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO consists of a fresh issue worth Rs 1,000 crore and an offer for sale of up to 8 million shares by the company’s existing promoters and shareholders.
The IPO funds will be deployed toward several capital expenditures, including civil construction and interior development of its office at Viman Nagar, putting in new workstations and infrastructure at its Hinjewadi office, and advanced IT equipment comprising servers, cloud systems, computer graphics workstations, scanners, printers, and network switches. A portion of the proceeds would also go to software subscriptions and licensing that would help support operational and technological requirements of the Company.
Nelsoft Ltd. is a technology-driven engineering service and solution company with a background of over two decades of experience. It serves Architecture, Engineering, and Construction, and also caters to Manufacturing and Industrial Plants. Its offerings address the problems of digitalization, digitization, and automation that help bring in more efficiency and sustainability in the design, build, and operate activities.
Nelsoft reported revenue of Rs 325.85 crore for the financial year 2023-24 as against Rs 291 crore in FY23. Its net profit rose to Rs 57.85 crore in FY24 from Rs 46.64 crore in the previous year, indicating consistent improvement in the performance of its business operations.
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Source: Moneycontrol
News Desk
