Nihilent Ltd files DRHP with SEBI

Nihilent Limited (Company), a global business consulting and IT solutions integration company, filed its DRHP with SEBI today on August 09, 2018.

Aug 11, 2018 06:08 IST India Infoline News Service

Nihilent Limited (Company), a global business consulting and IT solutions integration company, filed its DRHP with SEBI today on August 09, 2018.

The Initial Public Offering (IPO) comprises of fresh issue aggregating up to Rs250cr by the Company (“Fresh Issue”) and an offer for sale of up to 2,125,599 equity shares by the selling shareholders (including an offer for sale of up 1,171,219 equity shares by Vastu IT Private Limited, a member of promoter group), (“offered shares”).

Motilal Oswal Investment Advisors Limited is the book running lead managers and Link Intime India Private Limited is the Registrar.

The equity shares will be listed on BSE and NSE. The Company proposes to utilise the Net Proceeds from the Fresh Issue (“Net Proceeds”) towards (i) Funding inorganic growth; (ii) Replacement and upgradation activities at our corporate office; (iii) Relocating our branch office and setting up a Heuristic testing center in Chennai; (iv) Setting up of a user experience laboratory (“UX Lab”) and a media laboratory; and (v) General corporate purposes. 

 

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