Mitcon files for Rs 25 cr IPO; shares to list on NSE Emerge

Fixed-price IPO aims to mobilise Rs 25 cr at the price of Rs 61 per share

Pune-based Mitcon Consultancy & Engineering Services (Mitcon) has filed a draft prospectus for an initial public offering (IPO) to raise Rs 25 crore.

The fixed-price IPO aims to mobilise Rs 25.01 crore at the price of Rs 61 per share. The company plans to list its equity shares on NSE Emerge, the SME platform on National Stock Exchange.

The issue constitutes 33.88% of the post-issue paid up capital of the company, Mitcon said in a release here.

Mitcon provides corporate solutions in power, energy efficiency, renewable energy, climate change and environmental management sectors. Over the years, the company has diversified into providing services to banking, infrastructure and biotechnology sectors.

The Pune firm also provides solutions related to feasibility studies, project reports, techno economic report, financial syndication, lender's engineer services, Environment Impact Assessment, basic and detailed engineering, bid process management, project management, cluster development and consultation services in wind power project.

Mitcon's clients include small and medium enterprises, large corporates, banks, financial institutions and various Government bodies.