Fujita Corporation backed Neilsoft Limited refiles DRHP for IPO
The IPO, with a face value of Rs 5, is a mix of fresh issue of shares up to Rs 90 crore and an offer-for-sale for sale up to 8 million shares by Promoters and Other Selling Shareholders.
Offer for sale consists of shareholders selling shares up to 1,145,384 by Rupa Harish Shah jointly with Harishkumar Shah, up to 1,255,784 equity shares by Netsophy Private Limited, up to 147,764 equity shares by Nishit Shah jointly with Rupa Harish Shah, up to 41,376 equity shares by Harishkumar Shah jointly with Rupa Harish Shah, up to 2,440,884 equity shares by Small Industries Development Bank of India, up to 1,854,808 equity shares by SICOM Limited, up to 350,000 equity shares by Rajan Vasant Vakil jointly with Priti Rajan Vakil, up to 229,000 equity shares by Shirish Shrikrishna Sathe jointly Swati Shirish Sathe, up to 187,500 equity shares by Haresh Shantichand Jhaveri jointly with Darshan Haresh Jhaveri and up to 150,000 equity shares by Rajnikant Dwarkadas Shah jointly with Mina Rajnikant Shah.
The company, in consultation with the BRLMS, may consider a pre-IPO placement of specified securities. The pre-IPO placement shall not exceed 20% of the fresh issue, the amount raised under the pre-IPO placement will be reduced from the fresh issue.
The proceeds from the fresh issue to the extent of Rs 63.52 crore will be used for funding of capital expenditure and general corporate purposes.
The Offer is being made through the book-building process, wherein not less than 75% of the Offer is allocated to qualified institutional buyers, and not less than 15% and 10% of the net offer is assigned to non-institutional investors and retail individual investors respectively.
Neilsoft was incorporated in 1991 and started operations in Fiscal 1992, under the leadership of Ketan Champaklal Bakshi and Rupa Harish Shah. It is a technology-driven, pure-play engineering services and solutions company operating in the engineering research & development (ER&D) industry catering to the Architecture, Engineering and Construction (AEC), Manufacturing, and Industrial Plant segments. The company has over 20 years of experience in providing Engineering Services and Engineering Solutions. Its offerings address the digitalization (using digital technologies for transforming a business/process), digitization (converting analog data into digital format) and automation needs of its customers in AEC, Manufacturing and Industrial Plant segments.
The company categorise its lines of business into Engineering Services, and Engineering Solutions.
During the 9 months ended December 31, 2024, it has worked with customers primarily across Americas, Europe, Asia Pacific (excluding India) and India, with marquee customers such as NBBJ Architecture PLLC, Praj Industries Limited, Fujita Corporation, Hilti AG, Küttner & Martin GmbH, Incotec SRL, and Sigmetrix LLC.
Neilsoft Ltd. services its global clientele through delivery centers located in Pune (Maharashtra), Ahmedabad (Gujarat), Bengaluru (Karnataka), Bad Soden (Germany), and Tokyo (Japan). The company’s Sales and Account Management teams operate from multiple offices across India—including Pune, Mumbai, Delhi, Bengaluru, Chennai, and Ahmedabad—as well as from international branch offices in Canada and the UK. Neilsoft also has overseas subsidiaries in Bad Soden (Germany), Rheinfelden (Switzerland), Tokyo (Japan), and Detroit (US). Its Research & Development (R&D) and product development team functions are carried out from its facilities in Pune and Bad Soden.
As of February 28, 2025, it had an aggregate of 1,459 permanent employees on a consolidated basis, out of which 1,185 employees are part of its Engineering Services business, 107 employees are part of its Engineering Solutions business, and 167 employees are part of its corporate functions, R&D and product development, and management teams.
The Company's revenue from operations increased by 11.96% from ₹291.03 crore in Fiscal 2023 to ₹325.85 crore in Fiscal 2024. Profit after tax increased by 24.05% from ₹46.64 crore in Fiscal 2023 to ₹57.85 crore in Fiscal 2024.
For the nine months ended December 31, 2024, revenue from operations stood at Rs 289.06 crore, and profit after tax stood at Rs 41.28 crore.
Equirus Capital Private Limited and IIFL Capital Services Limited are the book-running lead managers and Link Intime India Private Limited is the registrar of the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
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