Armee Infotech information draft papers to boost Rs 250 crore by IPO | IPO Information

IT infrastructure options supplier Armee Infotech Ltd has filed preliminary papers with capital markets regulator Sebi to boost Rs 250 crore by an preliminary public providing (IPO).

The Gujarat-based firm’s preliminary share sale is totally a recent subject of fairness shares with no supply on the market (OFS) element, in accordance with the draft pink herring prospectus (DRHP) filed on Friday.

Proceeds of the difficulty can be used to extend the working capital necessities of the corporate, cost of debt and normal company functions.

Armee Infotech companies all kinds of initiatives for each authorities/public sector undertakings (PSUs) and personal sector with a deal with authorities/PSU initiatives.

The vary of initiatives undertaken by the corporate consists of provide and set up of IT {hardware} and software program, organising of good courses, putting in digital infrastructure for public distribution techniques, and digitalisation of major agriculture credit score societies, amongst others.

The IT trade performs a pivotal position in driving India’s general financial development. The trade contributed 7.5 per cent to India’s GDP in FY 2023, up from 7.4 per cent in FY 2022. The IT trade added a formidable 3.2 lakh new jobs in FY 2023, taking the full workforce to five.72 million individuals, in accordance with a D&B report.

Khandwala Securities and Saffron Capital Advisors are the book-running lead managers to the general public subject.

First Printed: Jun 23 2024 | 5:49 PM IST