SaaS firm Virtual Galaxy Infotech files draft IPO papers with NSE Emerge

Quick Summary:

Proceeds from the issue worth Rs 34.26 crore will be used for setting up additional development facilities in Nagpur, Rs 18.9 crore for funding expenditure related to enhancement, maintenance and upgrading existing products, Rs 14.06 crore for funding business development and marketing activities.Additionally, Rs 5.05 crore will be utilised for procuring GPU, server & storage system at the data centre, Rs 3 crore for payment of debt and the remaining capital will be used for general corporate purposes.

BFSI-focused SaaS firm Virtual Galaxy Infotech Ltd on Wednesday said it has filed draft papers with NSE Emerge to raise funds through an Initial Public Offering (IPO).

The Nagpur-headquartered company's IPO comprises a fresh issue of 66 lakh equity shares with a face value of Rs 10 each, according to a statement.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: BusinessFinance

Markets: India

Topics: SaaS firm NSE IPO papers BFSI-focused Virtual Galaxy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-30 @ 16:37:23 (1 days ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Readers: 89 people read this story

Article Length: 375 words

Reading Time: 3 minutes read

Sentences: 13 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23337627

View Article Analysis

About Business Standard

Main Topics: BusinessFinance

Official Website: business-standard.com

Update Frequency: 198 posts per day

Year Established: 1975

Headquarters: India

News Last Updated: 2 hours ago

Coverage Areas: India

Ownership: Independent Company

Publication Timezone: GMT +5:00

Content Availability: Worldwide

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #49

Publisher Details

Frequently Asked Questions