• About Us
  • Our Team
  • Advertising
  • Careers
  • Contact
Tuesday, June 10, 2025
  • Login
No Result
View All Result
Navjeevan Express
Advertisement
  • Gujarat
    • Ahmedabad
    • Vadodara
    • Surat
    • Rajkot
    • Saurashtra
    • Kutch
    • Central Gujarat
    • South Gujarat
  • National
    • Andhra Pradesh
    • Rajasthan
    • Maharashtra
    • Pondicherry
    • Tamil Nadu
    • OTHER STATES
  • Politics
  • Business
    • Companies
    • Personal Finance
  • Sports
    • Cricket
    • Hockey
    • Football
    • Badminton
    • Other Sports
  • Entertainment
    • Arts and Culture
    • Theatre
    • Cinema
    • Photos
    • Videos
  • Lifestyle
    • Fashion
    • Health & Environment
    • Food and Beverages
    • Spirituality
    • Tourism and Travel
  • World
  • More
    • Science and Technology
    • Legal
    • Opinion
    • Student’s Corner
    • Youth
Navjeevan Express
  • Gujarat
    • Ahmedabad
    • Vadodara
    • Surat
    • Rajkot
    • Saurashtra
    • Kutch
    • Central Gujarat
    • South Gujarat
  • National
    • Andhra Pradesh
    • Rajasthan
    • Maharashtra
    • Pondicherry
    • Tamil Nadu
    • OTHER STATES
  • Politics
  • Business
    • Companies
    • Personal Finance
  • Sports
    • Cricket
    • Hockey
    • Football
    • Badminton
    • Other Sports
  • Entertainment
    • Arts and Culture
    • Theatre
    • Cinema
    • Photos
    • Videos
  • Lifestyle
    • Fashion
    • Health & Environment
    • Food and Beverages
    • Spirituality
    • Tourism and Travel
  • World
  • More
    • Science and Technology
    • Legal
    • Opinion
    • Student’s Corner
    • Youth
No Result
View All Result
Navjeevan Express
No Result
View All Result
ADVERTISEMENT
Home National Gujarat Ahmedabad

IT infra solutions provider Armee Infotech files draft papers to raise Rs 250 crore via IPO

by Nav Jeevan
12 months ago
in Ahmedabad, Breaking News, Business, Capital Market, Gujarat, Information Technology, Launchpad, National, Personal Finance
Reading Time: 2 mins read
0
0
IT infra solutions provider Armee Infotech files draft papers to raise Rs 250 crore via IPO
ADVERTISEMENT
  • The IPO comprises solely a fresh issue with no offer-for-sale component
  • The company has already surpassed bottomline and topline numbers of fiscal 2023 in the nine-month-period ended December FY24

NE BUSINESS BUREAU

AHMEDABAD, JUNE 24

Armee Infotech Ltd, an Ahmedabad-based IT infrastructure solutions provider, has filed preliminary papers with capital markets regulator Sebi to raise Rs 250 crore through an initial public offering (IPO). The Gujarat-based company’s initial share sale is completely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Friday.

The issue proceeds (excluding IPO expenses) will be utilised mainly for its working capital requirements amounting to Rs 160 crore, and repaying debts worth Rs 10.63 crore. The remaining amount will be used for general corporate purposes.

The Company is sector agnostic and provides IT Infrastructure solution and IT managed service to a wide variety of projects for both Government/public sector undertakings (PSUs) and private sector with a focus on Government/PSU projects and a predominant presence in the state of Gujarat.

The range of projects undertaken by the company includes supply and installation of IT hardware and software, setting up of smart classes, installing digital infrastructure for public distribution systems, and digitalisation of primary agriculture credit societies, among others

Armee Infotech’s outstanding borrowings at the end of April this year stood at Rs 79.8 crore.

Armee Infotech, which provides IT managed services too, has already surpassed bottomline and topline numbers of fiscal 2023 in the nine-month-period ended December FY24. Profit stood at Rs 24.96 crore on revenue of Rs 560.2 crore for the said period.

Profit in the financial year 2023 grew 393 percent to Rs 16.6 crore compared to Rs 3.4 crore in previous year. Revenue from operations during the same period increased by 301.6 percent to Rs 502.7 crore.

Khandwala Securities, and Saffron Capital Advisors are the book running lead managers to the issue.

The IT industry plays a pivotal role in driving India’s overall economic growth. The industry contributed 7.5 per cent to India’s GDP in FY 2023, up from 7.4 per cent in FY 2022. The IT industry added an impressive 3.2 lakh new jobs in FY 2023, taking the total workforce to 5.72 million people, according to a D&B report.

 

Tags: ArmeedraftfilesInfotechinfraIPOitpapersproviderraiseRs 250 croresolutionstovia
ADVERTISEMENT
Previous Post

Cyber security: HDFC Bank hosts virtual fraud awareness session for its employees

Next Post

Country does not need slogans, it needs substance: PM before commencement of 1st session

Nav Jeevan

Nav Jeevan

Next Post
Country does not need slogans, it needs substance: PM before commencement of 1st session

Country does not need slogans, it needs substance: PM before commencement of 1st session

Infibeam inks MoU with EDII to accelerate AI adoption for enterprises, MSMEs and Start-ups

Infibeam inks MoU with EDII to accelerate AI adoption for enterprises, MSMEs and Start-ups

ADVERTISEMENT

Recommended

Clubhouse to host special Independence Day programme ‘Happy Birthday India’  

Clubhouse to host special Independence Day programme ‘Happy Birthday India’  

4 years ago
4.5 lakh Sukanya Samriddhi accounts opened in Post offices of N Gujarat Region: Postmaster General

4.5 lakh Sukanya Samriddhi accounts opened in Post offices of N Gujarat Region: Postmaster General

9 months ago
ADVERTISEMENT

Recent Posts

  • Double lung transplant at Rela Hospital breathes new life into mother of 2 angels, and averts heart transplant
  • DRDO transfers 9 defence system technologies to 10 industry partners in public, pvt sectors
  • A childhood among cliffs and Vikings: The true story behind – ‘How to Train Your Dragon’

Category

Select Category

    Contact Us

    Email:
    ne.gowri1964@gmail.com

    Phone:
    9643255068

    Live Visitors

    • About Us
    • Our Team
    • Advertising
    • Careers
    • Contact

    © 2021 all right reserved by Navjeevanexpress.com. Consulted by MediaHives.com

    No Result
    View All Result
    • Gujarat
      • Ahmedabad
      • Vadodara
      • Surat
      • Rajkot
      • Saurashtra
      • Kutch
      • Central Gujarat
      • South Gujarat
    • National
      • Andhra Pradesh
      • Rajasthan
      • Maharashtra
      • Pondicherry
      • Tamil Nadu
      • OTHER STATES
    • Politics
    • Business
      • Companies
      • Personal Finance
    • Sports
      • Cricket
      • Hockey
      • Football
      • Badminton
      • Other Sports
    • Entertainment
      • Arts and Culture
      • Theatre
      • Cinema
      • Photos
      • Videos
    • Lifestyle
      • Fashion
      • Health & Environment
      • Food and Beverages
      • Spirituality
      • Tourism and Travel
    • World
    • More
      • Science and Technology
      • Legal
      • Opinion
      • Student’s Corner
      • Youth

    © 2021 all right reserved by Navjeevanexpress.com. Consulted by MediaHives.com

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In