Vinsys IT Services files draft papers for IPO; to list on NSE Emerge

Vinsys IT Services India on Monday said it has filed preliminary papers with NSE Emerge to raise funds through an initial public offering (IPO).

The Pune-headquartered company plans to offer 38.9 lakh equity shares of Rs 10 each through the book-building process. The firm will be listed on NSE Emerge, a platform for small and medium enterprises, it said in a statement.

Proceeds from the public issue will be utilised to meet working capital requirements, repayment of loan to subsidiary and for other general corporate purposes.

The company has appointed Beeline Capital Advisors as merchant bankers to the issue.

Marquee investors led by overseas funds, including NAV Capital Emerging Star Fund and xMultiplied, and domestic players, such as Nova Global Opportunities Fund, Aegis Investment Fund and Sambhavnath Investments, have invested in the company's pre-IPO funding.

Vinsys provides a full suite of software service offerings, including ERP solutions, architectural consulting, integration, and middleware service. Also, it offers customised courses across 17 domains, including BFSI, telecom, and government departments.

The company has a presence in Saudi Arabia, Oman, Qatar, Australia, Kenya, Tanzania, Singapore, and Malaysia.