Inspira Enterprise files draft papers with Sebi to raise Rs 800-cr via IPO

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IT solution provider Inspira Enterprise India has filed draft papers with markets regulator Sebi to raise Rs 800 crore through an initial public offering (IPO).

The initial share-sale consists of fresh issuance of equity shares to the tune of Rs 300 crore and an offer of sale of of equity shares worth Rs 500 crore by Prakash Jain, Manjula Jain Family Trust and Prakash Jain Family Trust, as per the draft red herring prospectus (DRHP).

As a part of the OFS, Prakash Jain will to offload equity shares up to Rs 131.08 crore, Manjula Jain Family Trust will sell up to Rs 91.77 crore and Prakash Jain Family Trust will divest shares up to Rs 277.15 crore.

The offer will also include a reservation of shares for employees of the company.

The company, in consultation with merchant bankers, may consider a pre-IPO placement of Rs 75 crore. If completed, the fresh issue size will be reduced accordingly.

Proceeds from the fresh issue will be utilised towards working capital requirements, repayment of debt and general corporate purposes.

Inspira Enterprise is a leading digital transformation company in the country with a focus on cyber-security.

The company provide cyber security and digital transformation services to its clients and have executed large cyber-security transformation projects, infrastructure and digital transformation projects for various institutions in India.

Through its wide range of offerings across multiple verticals and geographies, the company possess capabilities spanning the digital lifecycle of services ranging from consultation, architecture, solution design and implementation, to monitoring and providing managed services.

Axis Capital, JM Financial, Nomura Financial Advisory and Securities (India), SBI Capital Markets, and Yes Securities are are the book running lead managers to the issue.