Armee Infotech Ltd, an IT infrastructure solutions company based in Gujarat, has filed for an initial public offering (IPO) to raise ₹250 crore. According to the documents submitted to SEBI, the capital market regulator, the IPO will be a fresh issue of shares, meaning all proceeds will come from newly issued equity rather than selling existing shares.
How Will the Funds Be Used?
The money from the IPO will be used to boost Armee Infotech’s working capital, repay debts, and cover general corporate expenses.
What Does Armee Infotech Do?
Armee Infotech handles various IT projects for both government and private clients. They specialise in:
- Supplying and installing IT hardware and software.
- Setting up smart classrooms.
- Implementing digital infrastructure for public distribution systems.
- Digitalising primary agriculture credit societies.
The Role of IT in India’s Economy
The IT sector is crucial for India’s economic growth. In the fiscal year 2023, it contributed 7.5% to the country’s GDP, a slight increase from 7.4% in the previous year. The industry also created 3.2 lakh new jobs, bringing the total workforce to 5.72 million, according to a D&B report.
Who Is Managing the IPO?
Khandwala Securities and Saffron Capital Advisors are the lead managers for Armee Infotech’s public issue.
The company’s decision to go public reflects the ongoing importance and expansion of the IT sector in India.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
