Thursday, January 12, 2017 5:19PM IST (11:49AM GMT)
GlobalSpace Technologies Limited Plans SME IPO, Files Papers with BSE
Mumbai, Maharashtra, India
Mumbai based, GlobalSpace Technologies Limited, a digital, mobility, analytics & cloud technology company filed its Draft Red Herring Prospectus (DRHP) with the market regulator BSE seeking permission for its Initial Public Offering (IPO) in the SME segment.
The public issue consists of up to 30,34,000 equity shares of Rs. 10 each of GlobalSpace Technologies Limited. Out of which, up to 1,54,000 equity shares are reserved for subscription by market makers to the issue. The issue and the net issue will constitute 26.48% and 25.14% respectively of the post issue paid-up equity share capital of the company.
The net proceeds from the issue will be used to for expenditure on research and development, advertising and sales promotion, funding incremental working capital requirements and for general corporate purposes.
Choice Capital Advisors Private Limited is the lead manager to the issue and Link Intime India Private Limited is the Registrar to the issue.
About GlobalSpace Technologies Limited
Mumbai-based GlobalSpace Technologies Limited is a digital, mobility, analytics & cloud technology company providing integrated software product platforms and solutions to enable large and medium enterprises embrace mobility & digital technology for their business enhancement. GlobalSpace provides domain specific mobility & digital technology products by leveraging contemporary web, mobile technology, big data, analytics & custom hardware to deliver customizable and configurable solutions to different industry verticals. The company launched its flagship product for pharmaceutical industry in the year 2011. The core technology platform of GlobalSpace has been constantly evolving and now includes industry solutions in Banking, Financial Services, Insurance and Education domain.