The Initial Public Offering will comprise recent subject of fairness shares aggregating as much as Rs 400 crore and an Offer For Sale (OFS) of as much as 1.33 crore fairness shares.
Proceeds can be used for cost of debt, funding working capital necessities, pursuing inorganic initiatives and basic company functions.
Integrated services administration Updater Services Ltd (UDS) has filed preliminary papers with capital market regulator Sebi to boost funds via an preliminary public providing.
The Initial Public Offering (IPO) will comprise recent subject of fairness shares aggregating as much as Rs 400 crore and an Offer For Sale (OFS) of as much as 1.33 crore fairness shares by a promoter and current shareholders, in line with the draft pink herring prospectus.
Those who can be promoting shares within the OFS are Tangi Facility Solutions Private Ltd, India Business Excellence Fund-II and India Business Excellence Fund–IIA.
Also, the corporate could contemplate a pre-IPO placement aggregating as much as Rs 80 crore. If such a placement is accomplished, the recent subject measurement can be decreased.
Proceeds from the recent subject can be used for cost of debt, funding working capital necessities, pursuing inorganic initiatives and basic company functions.
The firm affords built-in services administration providers and enterprise assist providers to its shoppers.
It caters to buyer segments throughout sectors equivalent to FMCG, manufacturing and engineering, BFSI, healthcare, IT/ITes, vehicles, logistics and warehousing, airports, ports, infrastructure and retail.
IIFL Securities Ltd, Motilal Oswal Investment Advisors Ltd and SBI Capital Markets Ltd are the e-book working lead managers to the problem. The fairness shares of the corporate can be listed on the BSE and NSE.
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