Price band of Rs. 78/- to Rs. 80/- per Equity Share of Face value of Rs. 10/- each
MUMBAI, April 23, 2018: SoftTech Engineers Limited (“Company”), a software product innovation company which caters to the Architecture, Engineering and Construction (“AEC”) verticals, will be launching its Initial Public Offering (“IPO” or the “the Offer”) on EMERGE Platform of National Stock Exchange of India Limited (“NSE EMERGE”), which is scheduled to open on Friday April 27, 2018 and closes on Thursday, May 03, 2018, with a price band of Rs. 78/- to Rs. 80/- per Equity Share of face value of Rs. 10/- each of the Company (the “Equity Shares”).
The Offer consist of Initial Public Offer of upto 28,51,200* Equity Shares of Face value of Rs. 10/- each (“EQUITY SHARES”) of SoftTech Engineers Limited (“Company” or “Issuer”) for cash at a price of Rs. [•] per equity share (including a share premium of Rs. [•] per equity share) aggregating up to Rs. [•] lakhs (“the offer”) comprising of a fresh issue of upto 23,71,200* equity shares aggregating up to Rs. [•] lakhs by the company (“Fresh Issue”) and an offer for sale of upto 4,80,000* equity shares by Rajasthan Trustee Company Private Limited A/c SME Tech Fund RVCF Trust II (referred to as the “selling shareholder”) aggregating upto Rs. [•] lakhs by the selling shareholder (“Offer for Sale”).
The Offer comprises of upto 1,44,000 equity shares of face value Rs. 10/- each for cash at a price of Rs. [•] per equity share, aggregating Rs. [•] lakhs which will be reserved for subscription by the market maker to the offer (the “Market Maker Reservation portion”).
The Offer less market maker reservation portion i.e. offer of upto 27, 07,200* equity shares of face value of Rs. 10/- each for cash at a price of Rs. [•] per equity share, aggregating Rs. [•] Lakhs is hereinafter referred to as the “net offer”. The offer and the net offer will constitute [•] % and [•] %, respectively of the post offer paid up equity share capital of our company.
The Face value of the Equity Shares is Rs 10/- each.
The Net Proceeds will be utilized for Product Development and Enhancement Costs; Funding of the Domestic and International Product Penetration and Marketing Costs; Repayment/ Pre-payment of certain unsecured borrowings availed by our Company; and General corporate purposes (Collectively, herein referred to as the “Objects”).
In terms of Rule 19(2)(b)(i) of the Securities Contracts (Regulation) Rules, 1957, as amended (the “SCRR”) the Offer is being made for at least 25% of the post-Offer paid-up Equity Share capital of our Company. The Offer is being made in accordance with Chapter XB of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended from time to time (“SEBI (ICDR) Regulations”), wherein 49.94% of the Net Offer shall be available for allocation on a proportionate basis to QIBs. 5% of the QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only, and the remainder of the QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders, including Mutual Funds, subject to valid Bids being received at or above the Offer Price.
Further, not less than 15% of the Net Offer will be available for allocation on a proportionate basis to Non-Institutional Investors and not less than 35% of the Net Offer will be available for allocation to Retail Individual Investors, in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Offer Price. All investors shall participate in this Offer mandatorily through the Applications Supported by Blocked Amount (“ASBA”) process by providing details of their respective bank accounts which will be blocked by SCSBs.
Pantomath Capital Advisors Private Limited and Small Industries Development Bank of India are the Book Running Lead Managers to the Offer and Link InTime India Private Limited is the Registrar to the Offer.
The Equity Shares of the Company are proposed to be listed on NSE EMERGE platform.
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