Technology and IT distribution firm Iris Global Services Limited has filed draft IPO papers with India’s market regulator SEBI, initiating the required regulatory review. The company is looking to raise up to ₹200 crore through a fresh issue of equity shares, along with an offer for sale (OFS) of up to 5 crore shares by promoter shareholders.
Across reports, promoters Sanjiv Krishen and Kamini Talwar are identified as planning partial divestment via the OFS. The draft papers indicate the promoters currently hold more than 98% of the company’s equity. The proceeds from the OFS are to go to selling shareholders rather than the company.
The Free Press Journal adds details on potential use of funds and execution. It states that fresh proceeds would be used mainly for working capital needs and general corporate purposes. It also notes the company is considering a pre-IPO placement that could raise up to ₹40 crore, which would correspondingly reduce the fresh-issue size if completed. The filings also name Pantomath Capital Advisors as sole book-running lead manager, with KFin Technologies as registrar.
Business Line focuses on the headline structure—fresh issue of up to ₹200 crore and OFS of up to 5 crore shares—without additional fundraising or fund-use specifics.
