Plada Infotech Services announces IPO

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Plada Infotech Services announces IPO

On September 27th, 2023, Plada Infotech Services Limited, a global provider of business process outsourcing services, has announced its plans to go public with an initial public offering. The company aims to raise 12.36crore through this IPO, with shares set to be listed on the NSE EMERGE platform.

The new issue's size is up to 25,74,000 equity shares at a face value of 10 each.

* Non-Institutional Investors - 122,22,500Equity Shares

* Retail Individual Investors - 12,22,500 equity shares

* Market makers - 1,29,000 equity shares

The net proceeds of the IPO will be utilized for funding working capital requirements, purchasing laptops and accessories for IT, repayment and/or prepayment of certain outstanding loans and for general corporate purposes. Indorient Financial Services Limited is the leading provider of the issue. Bigshare Services Private Limited is the registrar to the issue.

Shailesh Kumar Damani, chairman and Managing Director of Plada Infotech Services Limited, said his journey as we announce our initial public offering. This significant step shows our continued commitment to innovation, growth, and exceptional value to our clients. Over the years, we've embraced obstacles, adjusted to changes, and consistently delivered beyond expectations.