Engineering services firm Neilsoft Ltd, backed by Japan’s Fujita Corporation, has refiled its Draft Red Herring Prospectus (DRHP) with capital markets regulator Sebi to raise funds through an initial public offering (IPO). The IPO includes a fresh issue of shares worth up to ₹90 crore and an offer-for-sale (OFS) of up to 8 million equity shares by existing shareholders.
Neilsoft Ltd has revived its IPO plan as it looks to strengthen its capital base and fund key growth initiatives. The company plans to utilise ₹63.52 crore from the fresh issue proceeds primarily towards capital expenditures and general corporate purposes. The DRHP also allows for a potential pre-IPO placement of up to 20 percent of the fresh issue, which could reduce the size of the actual offering.
Promoted by a group holding 54.43 percent stake, Neilsoft counts several prominent institutions among its public shareholders. These include Japan-based construction giant Fujita Corporation, which holds a 14.14 percent stake, as well as SIDBI (6.49 percent) and SICOM (4.93 percent).
The IPO will follow the book-building route and is proposed to be listed on both the NSE and BSE. The issue will be managed by Equirus Capital Private Limited and IIFL Capital Services Limited as the book-running lead managers. The share allocation is structured to target 75 percent of the offer to qualified institutional buyers (QIBs), 15 percent to non-institutional investors (NIIs), and 10 percent to retail investors.
About The Firm
Founded in 1991, Neilsoft operates in the high-growth engineering research and development (ER&D) space, offering specialised services in digitalisation, digitisation, and automation. Its core focus spans sectors such as architecture, engineering and construction (AEC), manufacturing, and industrial plants.
The company runs delivery centres in Pune, Ahmedabad, Bengaluru, Bad Soden (Germany), and Tokyo, while its sales operations extend across India, Canada, and the United Kingdom. With a strong global footprint, Neilsoft serves clients in the Americas, Europe, Asia-Pacific, and India. Key clients include NBBJ Architecture, Praj Industries, and Hilti AG.
Financial Growth Underscores IPO Timing
Neilsoft has reported consistent growth in its financials. Revenue from operations rose 11.96 percent year-on-year to ₹325.85 crore in FY24 from ₹291.03 crore in FY23. Profit after tax also saw a strong 24.05 percent rise to ₹57.85 crore over the same period. For the nine months ended December 31, 2024, the company posted revenue of ₹289.06 crore and a PAT of ₹41.28 crore.
With subsidiaries in Germany, Switzerland, Japan, and the United States, and R&D centres in Pune and Bad Soden, Neilsoft is well-positioned to benefit from rising global demand for engineering and digital transformation solutions.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
