14 Aug , 2021 By : Kanchan Joshi
Mumbai: Inspira Enterprise India Ltd has filed a draft paper with Securities Exchange Board of India to raise Rs800 crore via an initial public offering.
The IPO consists of a fresh issue of Rs300 crore and an offer for sale (OFS) of Rs500 crore by its existing shareholders and promoters.
The OFS comprises up to Rs131 crore by Prakash Jain, Rs91.70 crore by Manjula Jain Family Trust, Rs277.15 crore by Prakash Jain Family Trust.
Axis Capital, JM Financial, Nomura Financial Advisory and Securities India, SBI Capital Markets and Yes Securities India are the lead managers to the issue.
The proceeds from the issue worth Rs109.62 crore will be used for funding working capital requirements and Rs115.37 crore will be used for repayment of debt.
On a consolidated basis, its working capital facilities sanctioned from banks and financial institutions consisted of a fund based limit of Rs69 crore and a non-fund based limit of Rs231 crore in July. It had total outstanding borrowings of Rs201.67 crore.
The firm provides cybersecurity and digital transformation services to its clients and has executed large cybersecurity transformation projects, infrastructure and digital transformation projects for various institutions in India as well as globally. As of March 2021, it is present in six countries, including India, USA and across Southeast Asia, the Middle East and Africa.
The firm specialises in cybersecurity, digital solutions, and integrated enterprise solutions. For fiscal 2021, it had 235 active clients, of which it engaged with 69 clients in each of the last three fiscals.
For fiscal 2021, its total income stood at Rs813.90 crore versus Rs768.14 crore, a year ago. Net profit for the period was at Rs36.15 crore against Rs19.71 crore last year.
0 Comment