Nielsoft Limited Refiles DRHP with SEBI for IPO

Fujita Corporation-backed Neilsoft Limited has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its upcoming Initial Public Offering (IPO). The IPO will be conducted through a book-building process with the company shares to be listed on both NSE and BSE.

IPO Details

According to the DRHP, 

• The IPO will comprise a fresh issue of face value ₹5 each, aggregating up to ₹100 crore. 
• It will also include an offer for sale (OFS) of up to 8 million equity shares by existing shareholders of face value ₹5 each.
• The equity shares are proposed to be listed on the National Stock Exchange (NSE) and BSE, as per the DRHP. The company will determine the price band and minimum bid lot for the IPO in consultation with the book-running lead manager.
• Equirus Capital Private Limited and IIFL Capital Services Limited are the book-running lead managers of the public issue, while Link Intime India Private Limited is the registrar.

Utilisation of Proceeds

The Company proposes to utilise the Net Proceeds towards the following objects:

1. Funding capital expenditure requirements for:

• Civil construction and interior development at Viman Nagar Office;
• Construction and interior development, along with setting up a new workstation at the Hinjewadi Office of the Company; 
• Purchase of new Computer Graphics Workstation and server storage, cloud, scanner, network switches and printer, etc. (IT Infrastructure); and
• Purchase of software subscriptions and licenses

2. General corporate purposes.

About Nielsoft Limited

Incorporated in 1991, Nielsoft Limited is an engineering firm operating in the high-growth engineering research and development (ER&D) space. It offers specialised services in digitalisation, digitisation, and automation. Its core focus spans sectors such as architecture, engineering and construction (AEC), manufacturing, and industrial plants. 

The company is backed by Fujita Corporation, a Japanese construction giant, and serves clients in the USA, Europe, Asia-Pacific, and India. Key clients include NBBJ Architecture, Praj Industries, and Hilti AG.

Nielsoft Limited runs delivery centres in Pune, Ahmedabad, Bengaluru, Bad Soden (Germany), and Tokyo, while its sales operations are extended across India, Canada, and the United Kingdom.

Company Financials

Neilsoft Ltd. has seen a consistent growth in its financials. For the FY24,  the revenue from operations increased 11.96% year-on-year to ₹325.85 crore as compared to FY23, which was ₹291.03 crore. Profit after tax (PAT)also saw a 24.05% rise to ₹57.85 crore over the same period.

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