Nelsoft Ltd, a Pune-based engineering services and solutions company, has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to launch an initial public offering (IPO).
IPO Details
The IPO will comprise a fresh issue of Rs 1,000 crore and an offer for sale (OFS) of up to 8 million shares by existing promoters and shareholders. Equirus Capital and IIFL Capital are the lead managers for the issue.
Utilization of Funds
Proceeds from the IPO will be used for:
- Capital expenditure, including civil construction and interior work at the Viman Nagar office.
- Setting up new workstations and infrastructure at the Hinjewadi office.
- Procuring advanced IT infrastructure, including computer graphics workstations, servers, cloud systems, and printers.
- Software subscriptions and licenses.
About Nelsoft Ltd
Nelsoft Ltd specializes in engineering services and solutions for the Architecture, Engineering, and Construction (AEC), Manufacturing, and Industrial Plant sectors. With over 20 years of experience, the company focuses on digitalization, digitization, and automation to enhance design-build-operate efficiency.
Financial Performance
For FY24, Nelsoft reported a revenue of Rs 325.85 crore, a 12% increase from Rs 291 crore in FY23. Net profit also grew to Rs 57.85 crore in FY24, up from Rs 46.64 crore the previous year.
The IPO is expected to support Nelsoft’s growth trajectory, solidifying its presence in the technology-driven engineering space.
