Neilsoft Files DRHP with SEBI To Raise ₹100 crore via IPO

Pune-based advanced technology engineering services firm Neilsoft has announced its plans to launch an initial public offering (IPO) shortly. The company is preparing to raise approximately ₹100 crores through the offering, which will consist of both a fresh issue and an offer for sale (OFS).

Fresh Issue and Offer for Sale (OFS)

Neilsoft’s IPO will comprise a fresh issue of ₹100 crore and an offer for sale (OFS) of up to 8 million equity shares, with a face value of ₹5 each. The offer for sale includes shares being sold by promoters and other stakeholders, including the Small Industries Development Bank of India (SIDBI) and SICOM Ltd.

The share allotment for the IPO will be divided as follows:

• Retail Quota: 10%
• Qualified Institutional Buyers (QIB): 75%
• High Net-Worth Individuals (HNI): 15%

The IPO is set to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).

Funds Utilisation

The fresh issue’s proceeds will be utilised across several important areas of Neilsoft’s operations:

• Capital Expenditure: ₹69.63 crore will be allocated to fund the company’s capital expenditure needs.
• Office Infrastructure Expansion: Part of the funds will be used to enhance office spaces, including construction and interior work at their Viman Nagar office and a new workplace at the Hinjewadi office in Pune.
• Technology and Equipment: The funds will also be used for purchasing equipment, such as computers, servers, scanners, and printers, along with investments in cloud systems and software subscriptions/licenses.

About Neilsoft

Founded in 1991, Neilsoft has become a leading firm in the field of engineering services, headquartered in Pune. With over 20 years of experience in the industry, the company has established a strong global customer base.

Neilsoft specialises in providing solutions to industries such as architecture, engineering, construction, manufacturing, and industrial plants, with a focus on improving efficiency and sustainability through the use of advanced digital technologies.

The company employs a dedicated workforce of 1,429 permanent employees.

Financial Performance

Neilsoft has shown strong financial growth in recent years. For the fiscal year 2024, the company reported a 12% increase in revenue, reaching ₹326 crore, up from ₹291 crore the previous year.

Additionally, the profit after tax (PAT) saw a notable increase of 24%, growing to ₹58 crore from ₹46.64 crore in FY23. For the quarter ending June 2024, Neilsoft posted a revenue of ₹88.24 crore and a profit of ₹14 crore.

Book-Running Lead Managers

IIFL Capital Services and Equirus Capital have been appointed as the book-running lead managers for Neilsoft’s IPO.

Neilsoft’s IPO marks an important milestone for the company as it looks to further expand its operations, strengthen its infrastructure, and continue its growth trajectory in the engineering services industry.

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