Gurgaon-based Earthood Services files DRHP with SEBI to raise funds via IPO
Gurgaon-based Earthwood Services Limited is gearing up to launch its initial public offering i.e. IPO. Earthwood Services has filed a draft red herring prospectus (DRHP) for the IPO with market regulator Securities Exchange Board of India i.e. SEBI. This information comes from the ESB notification.
This IPO with a face value of Rs 10 will be a combination of new issue and offer for sale (OFS). 36 lakh shares will be sold through fresh issue and 42 lakh promoter shares will be sold through offer for sale.
Subscription reservation will be granted to eligible employees
Through the offer for sale, 27.30 lakh shares of Dr Kaviraj Singh and 14.70 lakh shares of Ashok Kumar Gautam will be sold. In this offer, subscription reservation will be given to eligible employees. Discounts are also offered to eligible employees who bid in the Employee Booking section.
Arthood Services was established in 2012.
The company may consider an issue of specified securities aggregating up to Rs 10 crore through a pre-IPO placement in consultation with BRLMS. Once the pre-IPO placement is completed, the amount raised under it will be deducted from the new issue.
Unistone Capital is the lead book-running manager for the IPO.
The amount raised through the new issue will be used to meet financing needs. Unistone Capital Private Limited is the lead book-running manager for this IPO and Link Intime India Private Limited is the issue registrar. The equity shares are proposed to be listed on NSE and BSE Limited.
Arthood Services was established in 2012
Arthood Services was established in 2012. Dr. Kaviraj Singh and Ashok Kumar Gautam are the promoters of this company. Earthood Services operates in the energy, environment and climate change sectors.