Renewable energy solutions provider Integrum Energy Infrastructure on Thursday said it has filed preliminary papers to raise funds through an initial public offering.
The IPO comprises a fresh issue of up to 49.5 lakh equity shares and an offer-for-sale component of up to 5.40 lakh equity shares by promoters -- Shyam Sundar Maheshwari and Shipra Goel, according to the draft red herring prospectus.
Under the OFS, Maheshwari will sell 3.56 lakh shares and Goel will divest 1.83 lakh shares of the company.
The shares of the company will be listed on the SME platform of BSE, the company said in a statement.
The net proceeds from the fresh issue will be used towards investment in a subsidiary, Integrum Green Assets, for financing the establishment of a 2 MegaWatt Peak solar plant, funding working capital requirements of the company.
Funds from the issue will also be used for inorganic growth through acquisitions and other strategic initiatives and general corporate purposes.
Integrum Energy Infrastructure is engaged in the business of creating, developing and providing differentiated renewable energy solutions to our industrial and commercial clients, deploying, in particular, Solar, Wind and Hybrid installations that enable customers to minimise both their energy cost and carbon footprint.
Beeline Capital Advisors is the sole book running lead manager while Integrated Registry Management Services is the registrar to the IPO.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
