The action in the IPO space is getting exciting by the hour. 2 more IPOs have now got the SEBI nod. These include Tokyo-based Fujita Corporation-backed Neilsoft and PROZEAL Green Energy.
Neilsoft IPO details
Neilsoft IPO is a mix of fresh issue of shares worth up to Rs 90 crore and an offer-for-sale of up to 8 million shares.
Promoters and other key shareholders are going to dilute the stake via OFS.
Small Industries Development Bank of India may offload up to 2,440,884 equity shares.
SICOM is likely to dilute up to 1,854,808 equity shares.
The other key shareholders offloading stake include-
-Rupa Harish Shah jointly with Harishkumar Shah are expected to sell up to 11,45,384 shares.
-Another key stakeholder, Netsophymay, may sell up to 12,55,784 equity shares.
-Nishit Shah jointly with Rupa Harish Shah are likely to offload up to 1,47,764 equity shares.
Neilsoft is a pure-play engineering services and solutions company catering to the Architecture, Engineering and Construction, Manufacturing, and Industrial Plant segments.
The Company’s revenue from operations stood at Rs 325.85 crore in FY24. Its profit after tax was Rs 57.85 crore in FY24.
PROZEAL Green Energy IPO details
PROZEAL Green Energy IPO comprises a fresh issue of Rs 350 crore and an offer for sale of up to Rs 350 crore.
The company said it will utilise the net proceeds from the offer towards funding the long-term working capital expenditure of the company, investment in the subsidiaries and repayment of certain borrowings and general corporate purposes.
Prozeal Green Energy works in delivering end-to-end renewable energy solutions, including engineering, procurement, and construction (EPC) of solar energy projects on a turnkey basis.
The company’s revenue stood at Rs 9,48.8 crore in FY24, and EBITDA was Rs 1,24.7 crore in the same year.