Neilsoft Ltd Gears Up for IPO With Revised Plans

Fujita Corporation-backed Neilsoft Ltd is pursuing an IPO to raise funds, featuring a fresh share issue worth Rs 90 crore. The company's revenue increased by 12% in FY24. The money raised will go towards capital expenditure and corporate purposes. Neilsoft offers engineering services and digital solutions.

Neilsoft Ltd, backed by Fujita Corporation, has refiled its draft papers with SEBI, indicating plans to generate capital through an Initial Public Offering (IPO).

The IPO will include a fresh issue of shares valued at Rs 90 crore, alongside an offer-for-sale by promoters and current shareholders amounting to 80 lakh shares, as outlined in the recent draft.

The Pune-based company's revenue rose 12% from Rs 291 crore in 2023 to Rs 326 crore in fiscal year 2024, with profits up by 24%. The funds will be allocated towards capital expenditure and general corporate applications.

(With inputs from agencies.)