GlobalSpace Technologies Limited plans SME IPO, files papers with BSE

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 consist 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 lead manager to the issue and Link Intime India Private Limited is the Registrar to the Issue.

Source : Equity Bulls

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