The provider of cybersecurity services and digital transformation services inspires Enterprise India has submitted publications projects with the Sebi Capital Markets Regulator on August 13 to launch its initial public offering (OPI).
The company plans to raise RS 800 million rupees through a public offer comprising a new issuance of RS 300 million rupees and an offer for the sale of RS 500 Crore by Promoters Prakash Jain, Manjula Jain Family Trust and Prakash Jain Family Trust .
Prakash Jain is going to download capital stocks to RS 131.08 Crore, Manjula Jain Family Trust will be sold up to RS 91.77 million, and the remaining RS 277.15 Crore shares will be sold by Prakash Jain Family Trust.
The offer will also include a reservation of actions for employees of the company.
The company in consultation with commercial bankers can consider a placement prior to RS OPI 75 million rupees. If it is completed, the fresh emission size will be reduced accordingly, according to the DRHP filed with SEBI.
The net income of the new issue will be used working capital requirements (RS 109.63 million rupees), debt reimbursement (RS 115.37 million rupees) and general corporate purposes.
Inspira Enterprise India is a leading digital transformation company in India with a focus on cybersecurity. It has a global presence in several verticals that are property of promoters. As of March 2021, it has operations throughout India, the United States, Southeast Asia, the Middle East and Africa.
The company classifies its company in cybersecurity, digital solutions and integrated business solutions that contributed 44.16 percent, 28.18 percent, and 27.66 percent, respectively, to total income for the final year of March 2021.
The benefit of RS 36.15 Crore grew at a CEGR of 191.27 percent and RS 802.76 million revenues increased at a CAG of 13.35 percent during FY19-FY21, the company said, adding profits before interest, tax, depreciation and the amortization (EBITDA) of RS 52.2 Crore grew up in a CAG of 40.93 percent in the same period.
In FY21, Inspira had 235 active clients, of which 69 clients were engaged in each of the last three prosecutors. The revenues of these 69 customers were RS 511.62 million, which represents 63.73 percent of contracts with customers in fiscal year21, reflecting a high degree of customer retention, the company said.
Given the IT services sector, the inspire company can be compared with the colleagues listed, including HCL technologies, happier minds, happier minds technologies, Birlasoft, Mindtree, Tech Mahindra, Wipro, TCS, L & T Infotech, CORFORGE, CYIENT, and Zear Technologies.
Axis Capital, JM Financial, Nomura Financial Advisory and Values (India), Capital Markets of SBI, and yes Securities are named as a book that runs leading managers to the subject.