Iris Global Services files SEBI draft for ₹200cr, 5cr IPO
Business
Iris Global Services, a Delhi-based IT solutions company, just filed draft papers with SEBI for an IPO comprising a fresh issue of up to ₹200 crore and an offer for sale of up to 5 crore equity shares, opening the doors for new investors.
Iris promoters to sell stake
Promoters Sanjiv Krishen and Kamini Talwar, who currently own over 98% of the company, will be giving up some of their stake through this IPO.
The money raised will help boost working capital and support general corporate purposes.
There's also talk of a ₹40 crore pre-IPO placement that could tweak the final numbers.
Founded in 2009, Iris focuses on affordable IT solutions, and this move could set them up for their next big chapter.