Gurgaon-based company Earthood Services files DRHP for IPO
The IPO, with a face value of Rs 10, combines a fresh issue of up to 36 lakh equity shares and an offer for the sale of up to 42 lakh equity shares by promoter-selling shareholders.
The offer for sale consists of shareholders selling up to 27.30 lakh equity shares by Dr. Kaviraj Singh and up to 14.70 lakh equity shares by Ashok Kumar Gautam. The offer also includes a subscription reservation by eligible employees, and a discount is being offered to eligible employees bidding in the employee reservation portion.
The company, in consultation with the BRLMS, may consider an issue of specified securities aggregating up to Rs 10 crore as a pre-IPO placement. Once the pre-IPO placement is completed, the amount raised under it will be reduced from the fresh issue.
The proceeds from the fresh issue to the extent of Rs 30 crore will be used for funding requirements towards strengthening our technological capabilities through the development, ownership, and commercialization of proprietary DMRV intellectual property and solutions and general corporate purposes.
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