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Armee Infotech Limited (“The Company” or “AIL”) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).

The Company plans to raise funds of the total issue size through Initial Public Offering of Equity Shares (Face Value ₹ 10 each) comprising of fresh issue of equity shares aggregating up to ₹ 25,000 lakhs [₹ 250 crore]. (“Total Issue Size”).

The Company is sector agnostic and provides IT Infrastructure solution and IT managed service to a wide variety of projects for both Government/public sector undertakings (PSUs) and private sector with a focus on Government/PSU projects and a predominant presence in the state of Gujarat.

The Company proposes to utilize the net proceeds from the Issue towards funding (i) Augmentation of working capital requirements of the Company estimated up to ₹ 16000 lakhs [₹ 160 crore] providing earnest money deposit for bidding for various projects and margin deposits for bank guarantees, in Fiscal 2025 and Fiscal 2026; (ii) Prepayment or repayment of certain outstanding borrowings availed by the Company estimated up to ₹ 1,063.22 lakhs [₹ 10.63 crore]; and balance towards General corporate purposes.

The loans that we propose to repay from Net Proceeds (amounting to ₹ 1,063.22 lakhs) constitute 26.30% of the total outstanding borrowings of the Company as on December 31, 2023.

The Equity Shares to be offered through the Red Herring Prospectus are proposed to be listed on the stock exchanges being BSE Limited (“BSE”) and National Stock Exchange of India Limited (“NSE” together with BSE, the “Stock Exchanges”).

Khandwala Securities Limited and Saffron Capital Advisors Private Limited are the Book Running Lead Managers to the Issue (“BRLMs”).

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