PNN
Mumbai (Maharashtra) [India], November 3: Micropro Software Solutions Limited, one of the leading IT solutions providers with a global reputation for excellence, has announced its plans to go public with an Initial Public Offering on 03rd November 2023. The company is aiming to raise Rs 30.70Crore at the fixed price of Rs 81 through this IPO, with shares set to be listed on the NSE EMERGE platform.
The issue size is Up to 37,90,400 equity shares at a face value of Rs 10 each.
Equity Share Allocation
- Non-Institutional Investors (NII) - Up To 18,00,000Equity Shares
- Retail Individual Investors (RII) - Up To 18,00,000Equity Shares
- Market Maker - 1,90,400 Equity Shares
The net proceeds from the IPO will be utilized for Working Capital Requirements, Funding Capital Expenditure Requirements, and General Corporate Expenses. The issue closes on 07th November 2023.
The Lead Manager to the Issue is Swaraj Shares and Securities Private Limited. The Registrar to the Issue is Purva Shareregistry Private Limited.
Sanjay Mokashi Yadavrao, Managing Director of Micropro Software Solutions Limited, said, "This IPO marks a significant milestone in Micropro's journey. We are excited about the opportunity to strengthen our position in the market, drive innovation, and expand our reach globally. The net proceeds from this offering will be utilized for working capital requirements, funding capital expenditure needs, and general corporate expenses.
This infusion of resources will enable us to continue our mission of delivering cutting-edge solutions and make a lasting impact in the IT industry, driving us toward a future of limitless possibilities."
Tanmoy Banerjee, Director of Swaraj Shares And Securities Private Limited, said, "We are happy to be a part of Micropro's transformative journey. Micropro's remarkable track record and innovative solutions demonstrate the company's strength and capabilities in the industry. We extend our best wishes and look forward to witnessing Micropro's future future achievements."
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