Nelsoft files draft papers with SEBI for raising funds via IPO

Equirus Capital and IIFL Capital are the lead managers for the issue.

Pune-based Nelsoft Ltd has filed a draft red herring prospectus with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).

The IPO includes a fresh issue of Rs 1,000 crore and an offer for sale of up to 8 million shares by existing promoters and shareholders.

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The proceeds from the IPO will be utilized for capital expenditure, including civil construction and interior development of its Viman Nagar office, setting up new workstations and infrastructure at the Hinjewadi office, and procuring advanced IT infrastructure such as computer graphics workstations, servers, cloud systems, scanners, network switches, and printers. Additionally, funds will be used for the purchase of software subscriptions and licenses.

Equirus Capital and IIFL Capital are the lead managers for the issue.

Nelsoft Ltd, a technology-driven engineering services and solutions (ER&D) company, has over 20 years of experience catering to clients in the Architecture, Engineering, and Construction (AEC), Manufacturing, and Industrial Plant sectors.

The company’s offerings focus on digitalization, digitization, and automation to enhance efficiency and sustainability in design-build-operate activities.

For FY24, Nelsoft reported revenue of Rs 325.85 crore, up from Rs 291 crore in FY23, with a net profit of Rs 57.85 crore compared to Rs 46.64 crore in the previous year.