ANI Integrated Services Ltd. today became the 100th small and medium enterprise to list on the National Stock Exchange's SME platform.
The initial public offering, which included an offer for sale and issue of fresh shares. The Rs 26 crore raised via fresh issue will be used to repay debt, meet working capital requirement and for general corporate purposes.
The company, which is in the business of technical manpower staffing, expects its revenue to increase by more than 30 percent going ahead as it plans to add more overseas client, Navin Korpe, chairman and managing director of Ani Integrated Services told BloombergQuint.
The company reported revenue of 62.8 crore, up by 58.6 percent in financial year 2016-17, while its net profit rose by 12.5 percent to Rs 7.88 crore.
The company also plans to increase its revenue from its overseas clients to 25-30 percent by FY19 from 20 percent currently, Korpe said.
NSE also launched NSE SME Emerge index earlier today, which will cater to investors looking to track the performance of SMEs listed on the NSE Emerge platform.
So far, SME companies have raised more than Rs 1,400 crore of capital using the NSE Emerge platform.
Also Read: On India's Bourses, SMEs Might Just Be Coming Of Age
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