Gujarat-based compliance and validation company Gamp Services has filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO) of 46.93 lakh shares.
The IPO comprises a fresh issue of 31.93 lakh shares and an offer for sale (OFS) of 15 lakh shares.
Promoters Sanjeevkumar Mahendrakumar Patel, Girish Agrawal and Gaurav M Shah will be the selling shareholders in the OFS.
Gamp Services may also consider a pre-IPO placement of 6.38 lakh shares. If undertaken, the placement will form part of the fresh issue, reducing its size by the corresponding amount.
The company proposes to use Rs 40.05 crore from the net proceeds of the fresh issue to purchase equipment and IT hardware for its services and data logger manufacturing verticals. The remaining proceeds will be used for inorganic growth through acquisitions yet to be identified and for general corporate purposes.