MITCON Consultancy & Engineering Services Ltd (MITCON), a Pune-based ISO certified company, has filed a draft prospectus for an initial public offering of its equity shares.
The company, which provides consultancy and engineering services, proposes to list its equity shares on NSE Emerge, the SME platform on the National Stock Exchange.
The fixed-price IPO aims to mobilise Rs 25.01 crore at a price of Rs 61 per share. The issue will constitute 33.88 per cent of the post-issue paid-up capital of the company.
The proceeds of the IPO will be deployed for expansion purposes, including acquisition of property for setting up new offices in Bangalore, Hyderabad, Chennai, New Delhi and Ahmedabad and environment testing laboratories in Bangalore and Ahmedabad.
Over the last three decades, MITCON has provided corporate solutions in power, energy efficiency, renewable energy, climate change and environmental management sectors. It has also diversified into providing services to banking, infrastructure and biotechnology sectors.
The solutions include feasibility studies, detailed project reports, techno economic feasibility report, financial syndication, lender’s engineer services and environment impact assessment. MITCON also conducts IT-based training courses and skill-based training programmes. It owns a wind power plant at Idukki, Kerala with an installed capacity of 0.75 MW.
Lead managers to the issue are IDBI Capital Market Services Ltd. and Keynote Corporate Services Ltd, while Link Intime India Pvt. Ltd would be the registrar.