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PNN
New Delhi [India], September 29: Plada Infotech Services Limited, specialize in delivering comprehensive Business Process Outsourcing (BPO) services, has announced its plans to go public with an Initial Public Offering (IPO) on 29th September, 2023. The company is aiming to raise 12.36 crore through this IPO, with shares set to be listed on the NSE EMERGE platform. The fresh issue size is Up to25,74,000equity shares at face value of10each. Equity Share Allocation Non-Institutional Investors (NII) 12,22,500 Equity Shares Retail Individual Investors (RII) 12,22,500Equity Shares Market Maker -1,29,000Equity Shares The net proceeds from the IPO will be utilized forfunding working capital requirements, purchaseof laptops and accessories forITdevelopment,repayment and / or prepayment, in part or in full, of certain outstanding loans, and for general corporate purposes.The issue closes on5th October, 2023. TheLead Manager to the Issue isIndorient Financial Services Limited.The Registrar to the Issue isBigshare Services Private Limited. Shailesh Kumar Damani, Chairman and Managing Director of Plada Infotech Services Limited said, I am immensely proud to witness this moment in Plada Infotech Services Limited's journey as we announce our Initial Public Offering. This significant step underscores our sustained commitment to innovation, growth, and delivering exceptional value to our clients. Over the years, we've embraced challenges, adapted to changes, and consistently delivered beyond expectations. We view this as a major stride forwardand are enthusiastic about embarking on this new journey. Soumya Padhi, Founder of Indorient Financial Services Limited said, As the lead manager for Plada Infotech Services Limited's IPO, we are excited to be a part of this pivotal moment. Plada's dedication to excellence and innovation in the BPO sector stands out. We believe that their choice to raise capital via SME IPO listing will empower them to effectively execute their growth and expansion plans. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)
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