Inspira Enterprises to raise Rs 800 crore via IPO

New Delhi: IT solution provider Inspira Enterprise India is set to raise Rs 800 crore via an initial public offering (IPO). The IT solutions company has filed draft papers with SEBI and sought approval for raising money.

According to the draft red herring prospectus (DRHP), the initial share-sale will comprise of issuance of equity shares of Rs 300 crore and an then an offer of sale of equity shares worth Rs 500 crore by Prakash Jain, Manjula Jain Family Trust and Prakash Jain Family Trust.

A certain portion of shares will also be reserved for employees of the company.

According to reports, the company is in talks with merchant bankers and is mulling a pre-IPO placement of Rs. 75 crore. If this materialized, the fresh issue size will be curtailed accordingly.

Profits from the business will be availed for the working capital demands, reimbursement of debt, and common corporate grounds.

Inspira Enterprise is a major digital transformation company in the country with a focus on cybersecurity, with many other services. The company provides digital transformation and cybersecurity services to its clients and have implemented large-scale infrastructure, digital transformation, and cybersecurity projects for several institutions in the country.

SBI Capital Markets, Yes Securities, Nomura Financial Advisory and Security (India), Axis Capital and JM Financial are the book running lead managers to the issue.