PNN

New Delhi [India], September 15: Techknowgreen Solutions Limited, an environmental consulting company, has announced its plans to go public with an Initial Public Offering (IPO). The issue opens for subscription on September 18th, 2023 and closes on September 21st 2023. The company is aiming to raise Rs 16.72 crore through this IPO, with shares to be listed on the BSE SME platform.

Equity Share Allocation

*    Non Retail Individual Investors (NII) - 9,23,200 Equity Shares

*    Retail Individual Investors (RII) - 9,23,200 Equity Shares

*    Market Maker - 97,600 equity Shares

The net proceeds from the IPO will be utilized to fund research and development initiatives, infrastructure expansion, hiring and resourcing, repayment of bank loan, and general corporate purpose. 

The Lead Manager to the Issue is Indorient Financial Services Limited and The Registrar to the Issue is Bigshare Services Private Limited.

Dr. Ajay Ojha, Managing Director, Technowgreen Solutions Limited said, "With over 20 years of experience we are well positioned to provide environmental consultancy services to various areas like regulatory framework, sustainability, technology and engineering. The IPO funding will enhance our capabilities to expand our reach to clients across different industries. Investment in R&D, human resources and infrastructure and will strengthen our capability to execute turnkey projects and stay ahead of competition."

Further, the issue will also help us enhance our brand and create a public market for our equity shares."

Prasad Pawar, CEO and Director, Techknowgreen Solutions Limited said, "IPO is an opportunity for us to enhance our scale and visibility. Enhancement of resources will help us cater to larger government projects''.

Ivor Misquith, Executive Director, Indorient Financial Service Limited, the lead manager to the issue, said, "We're delighted with this opportunity of being associated with Techknowgreen Solutions Limited as the Lead Manager and being a partner in their journey of becoming a Listed entity.  We are proud to bring a company like Techknowgreen to the capital markets and hope to continue to engage investors with quality transactions"."

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