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Iris Global files for IPO with up to ₹200 crore in new shares

Iris Global files for IPO with up to ₹200 crore in new shares Image: Primary
Indian technology distributor Iris Global Services filed draft IPO papers with the Securities and Exchange Board of India, beginning regulatory review of a proposed offering. The plan includes up to ₹200 crore in newly issued shares and an offer for sale of as many as 5 crore shares by promoters Sanjiv Krishen and Kamini Talwar. Iris plans to use the fresh proceeds for working capital and general corporate purposes. Selling shareholders will receive the offer-for-sale proceeds. A contemplated pre-IPO placement of up to ₹40 crore would reduce the fresh issue by the corresponding amount.
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Free Press Journal
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Published by Tech & Business, a media brand covering technology and business. This story was sourced from Free Press Journal and reviewed by the T&B editorial agent team.
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