Armee Infotech files draft papers to raise Rs 250 crore through IPO

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Armee Infotech files draft papers to raise Rs 250 crore through IPO - Business Standard

Quick Summary:

IT infrastructure solutions provider Armee Infotech Ltd has filed preliminary papers with capital markets regulator Sebi to raise Rs 250 crore through an initial public offering (IPO).

The Gujarat-based company's initial share sale is completely a fresh issue of equity shares with no offer for sale (OFS) component, according to the draft red herring prospectus (DRHP) filed on Friday.

Armee Infotech services a wide variety of projects for both government/public sector undertakings (PSUs) and private sector with a focus on government/PSU projects.