Neilsoft has resubmitted its DRHP with SEBI with the aim of raising funds via an Initial Public Offering (IPO) with a reduction in the size of the fresh issue.
As per draft papers filed on May 26, this IPO comprises a fresh issue of ₹90 crore and an offer-for-sale of 80 lakh shares by promoters.
On December 26, 2024, the company filed the DRHP with its fresh issue size reduced from ₹100 crore; however, on March 10, 2025, the SEBI returned those draft papers to the company.
The promoters will be selling 54.43% shares in the company, and 45.47% shares will be sold by public shareholders. This includes Fujita Corporation from Japan with a 14.14% stake, the Small Industries Development Bank of India (SIDBI) with 6.49%, and SICOM with 4.93%.
The proceeds raised of ₹63.5 crore will be used for the capital expenditure, and lastly, the remaining funds will be used for the company’s general corporate usage.
Additionally, IPO money will be used for building and enhancing office spaces along with construction and interior at the place of Viman Nagar office, as well as a new workplace at the Hinjewadi office.
IIFL Capital Services and Equirus Capital are the book-running lead managers, and the equity shares are proposed to be listed on the NSE and the BSE
Neilsoft is one of the leading firms in terms of providing engineering services, It is headquartered in Pune. Moreover, it has around 20 years of experience handling customer satisfaction, so they have global customers.
It has a main focus on industries like Architecture, Engineering, Construction, Manufacturing, and Industrial Plants, as they have a goal of making their design, building, and operations more efficient and sustainable through digital technologies.
This was founded in 1991 and, since then to till now they have 1,429 permanent employees.
Financially, in FY24, the company’s revenue increased 12%, which means ₹326 crore, in comparison to ₹291 crore in the previous year. Moreover, profit after tax also grew by around 24%, increasing to ₹58 crore from ₹46.64 crore.
For the nine months ending December 2024, revenue was ₹289 crore, with a profit of ₹41.21 crore.
Neilsoft IPO Prospectus:
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | To be Updated Soon |
Neilsoft Company Financial Report
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax |
| 2022 | ₹253.40 | ₹209.21 | ₹34.79 |
| 2023 | ₹303.96 | ₹246.43 | ₹46.64 |
| 2024 | ₹336.70 | ₹266.43 | ₹57.85 |
| December 2024 | ₹295.24 | ₹244.13 | ₹41.22 |
Neilsoft IPO Valuation – FY2024
Neilsoft IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| Earning Per Share (EPS): | ₹15.52 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 23.85% |
| Net Asset Value (NAV): | ₹69.87 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| KPIT Technologies | 21.95 | 57.15 | 27.67% | 79.85 | 4931.81 Cr. |
| Onward Technologies Limited | 15.13 | 15.61 | 16.37% | 92.37 | 479.66 Cr. |
| Cyient Limited | 62.24 | 19.11 | 15.42% | 415.38 | 7213.10 Cr. |
| L&T Technology Services Limited | 123.34 | 33.43 | 24.43% | 505.95 | 9854.60 Cr. |
| Tata Technologies Limited | 16.75 | 39.83 | 21.09% | 79.40 | 5232.75 Cr. |
Objects of the Issue
-
Funding
capital
expenditure
requirements
for:
- Civil works and interior development at Office No. 1201 A & 1201 B, 12th Floor, Sky One Corporate Park, Survey No. 239/2, Plot No. 3 Lohegaon, Pune – 411 014 (Viman Nagar Office);
- Civil construction and interior development at our existing Hinjewadi office campus at Plot No. 21/2, Rajiv Gandhi Infotech Park, Hinjewadi Ph. III, Pune – 411 057 building (Hinjewadi Office Phase II);
- Furnishings for our existing Hinjewadi office campus at Plot No. 21 /2, Rajiv Gandhi Infotech Park, Hinjewadi Ph. III, Pune – 411 057 building (Hinjewadi Office Phase I);
- Purchase of new computer graphics workstations and IT Infrastructure (servers storage, cloud, scanner, firewall, UPS, network switches and printers, etc.) for offices of our Company as described below on page 178;
- Purchase of software subscriptions and licenses for offices of our Company as described below; and
- Setting up solar plants and EV chargers at Hinjewadi Office Phase I and Hinjewadi Office Phase II (collectively, ‘Hinjewadi Office’).
- (collectively, ‘Capital Expenditure’).
- General corporate purposes.
IPO Lead Managers aka Merchant Bankers
- Equirus Capital Private Limited
- IIFL Capital Services Limited
