Iris Global Services Files Draft IPO Papers with SEBI to Raise Rs 200 Crore via Fresh Issue

New Delhi-based technology and IT distribution firm Iris Global Services Ltd has filed preliminary papers with the capital markets regulator, the Securities and Exchange Board of India (SEBI), to raise capital through an initial public offering (IPO).

According to the Draft Red Herring Prospectus (DRHP), the public offering consists of a fresh issue of equity shares aggregating up to ₹200 crore, along with an Offer for Sale (OFS) of up to 5 crore equity shares by the promoter selling shareholders.

Issue Structure and Selling Shareholders

Under the OFS component, company promoters Sanjiv Krishen and Kamini Talwar will partially divest their holdings. Promoters currently hold over 98% equity stake in the company.

In addition, Iris Global Services may consider raising up to ₹40 crore through a pre-IPO placement. Should such a private placement be successfully completed, the size of the fresh issue component will be reduced on a proportionate basis.

Objects of the Offer

The company plans to deploy the net proceeds generated from the fresh issue towards strengthening its operational footprint:

• Funding working capital requirements
• General corporate purposes

Company Background and Intermediaries

Established in 2009, Iris Global Services operates as a provider of IT distribution and technology solutions across India. The company focuses on distributing a wide array of cost-effective hardware, software, and networking products while servicing system integrators and enterprise clients.

Pantomath Capital Advisors Private Limited is acting as the sole book-running lead manager for the public issue, while KFin Technologies Limited has been appointed as the registrar to the offer. The equity shares are proposed to be listed on both major Indian bourses, the BSE and the National Stock Exchange of India (NSE).

Tags: Iris Global Services SEBI IPO Pantomath Capital Advisors IT Distribution