JSW Cement plans for an Ambitious ₹4,000 Crore IPO...
19 Jul, 2025
Neilsoft Ltd, a Pune-based engineering services company with backing from Japan’s Fujita Corporation, has refiled its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI), signaling renewed intent to launch its initial public offering (IPO). The revised filing showcases a reduction in the fresh issue size compared to its previous submission earlier this year.
The latest DRHP proposes a fresh issue of equity shares to raise up to ₹90 crore, down from the earlier target of ₹100 crore. In addition, the offering will include an offer for sale (OFS) of up to 80 lakh shares by existing shareholders, including promoters and institutional investors such as Small Industries Development Bank of India (SIDBI) and SICOM. The proceeds from the fresh issue are primarily earmarked for capital expenditure, with the remainder allocated for general corporate purposes.
Founded in 1991, Neilsoft specializes in engineering research and development (ER&D) services for the architecture, engineering, and construction (AEC), manufacturing, and industrial plant sectors. The company has demonstrated consistent financial growth, with revenues from operations rising to ₹325.9 crore in FY24, up 12% year-on-year. Profit after tax also saw a robust increase, climbing 24% to ₹57.9 crore in the same period. For the nine months ended December 31, 2024, Neilsoft reported revenue of ₹289.1 crore and a profit after tax of ₹41.2 crore.
Promoters currently hold a 54.43% stake in Neilsoft, while public shareholders, including Japan’s Fujita Corporation (14.14%), SIDBI (6.49%), and SICOM (4.93%), collectively own 45.47%. The IPO is being managed by Equirus Capital Pvt Ltd and IIFL Capital Services Ltd, with Link Intime India Pvt Ltd serving as the registrar.
The IPO will be conducted through the book-building process, with 75% of the shares reserved for qualified institutional buyers, 15% for non-institutional investors, and 10% for retail individual investors. Upon successful completion, Neilsoft’s shares are expected to be listed on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE).
Neilsoft’s decision to refile its DRHP with a reduced fresh issue size reflects a strategic adjustment in response to regulatory and market conditions. The company’s strong financial performance and focus on digital transformation and automation in engineering services have positioned it as a key player in the sector. The IPO is anticipated to provide the necessary capital for expansion and further strengthen Neilsoft’s market presence, both domestically and internationally.
