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Nihilent files IPO papers with Sebi

Press Trust of India  |  New Delhi 

IT solutions firm has filed its draft papers with market regulator Sebi to raise funds through an initial share sale.

The initial public offer (IPO) comprises fresh issuance of shares worth up to Rs 250 crore, besides an offer of sale OF around 21,25,599 equity stocks by promoter group entity Vastu IT Private Limited, according to the draft red herring prospectus (DRHP) filed with Sebi.

The funds garnered through the issue would be utilised for replacement and upgradation activities to fund inorganic growth and for setting up of a user experience laboratory as well as a among others.

will manage the the company's IPO. The equity shares will be listed on BSE and (NSE).

is a Pune-based consulting and (IT) solutions integration firm.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, August 10 2018. 19:35 IST