Wildnet Technologies Ltd. has submitted fresh draft papers to the Securities and Exchange Board of India to raise funds through an initial public offering. A significant portion of the IPO's fresh offer proceeds of up to Rs 99.3 lakh is allocated for the purchase of office laptops and the rest will be used for general corporate purposes.
The IPO will comprise a fresh issue of up to 3.5 lakh equity shares and an offer for sale of up to 28 lakh shares by shareholder Nitin Agarwal, according to the draft red herring prospectus that was submitted on Aug. 31. The face value of the equity shares is Rs 10 each.
Shreni Shares Ltd. is the book-running lead manager of the issue, while Bigshare Service Pvt. is the registrar for the issue.
The company will not receive any proceeds received from the OFS.
Wildnet is a technology-driven software development and consulting, digital marketing, design and development, IT outsourcing, and white-label services provider.
The company offers a range of digital marketing services, including pay-per-click advertising, social media marketing, programmatic ads, search engine optimisation and e-commerce marketing.
The company provides services across industries, such as manufacturing, education, e-commerce, healthcare, IT, banking media and the internet, marketing and advertising.
The equity shares offered through the DRHP are proposed to be listed on the Emerge Platform of BSE. For the purpose of the offer, the designated stock exchange shall be BSE.
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