smartData Enterprises (India) Limited Received In-Principle Approval From NSE Emerge
Mumbai (Maharashtra) [India], September 18: smartData Enterprises (India) Limited (smartData, The Company), a global technology services pro...
Mumbai (Maharashtra) [India], September 18: smartData Enterprises (India) Limited (smartData, The Company), a global technology services provider engaged in delivering information technology (IT) services and digital solutions with a focus on custom software development, product engineering and technology consulting, has received in-principle approval from NSE Emerge for the listing of its equity shares, marking a significant step toward its Initial Public Offering (IPO) on the SME Platform of NSE.
The company plans to issue up to 72,00,000 fresh equity shares with a face value of ₹ 10 each. As the company moves forward with its IPO plans, the capital raised will be utilized towards Investment in designing and development of its products and platform, Funding upgradation of the Company’s digital infrastructure covering software, hardware and communications & network services, Funding capital expenditure for setting up development centres in Nagpur and Hyderabad, Repayment of certain outstanding borrowings availed by the Company and General Corporate Purposes. This strategic allocation will help enhance operational efficiency, support growth initiatives, and strengthen the company’s financial position.
Beeline Capital Advisors Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Skyline Financial Services Private Limited will serve as the Registrar to the Issue.
