Issue size of Rs 10 crore with 8,00,000 equity shares
Trivandrum: Richa Info Systems Limited has announced a public issue of 8,00,000 equity shares of face value of Rs 10 each for cash at a price of Rs 125 per equity share, including a share premium of Rs 115 per equity share. The IPO opens on 9th February 2022 and closes on the 11th February 2022 and will subsequently be listed on NSE Emerge platform.
The lead manager for the issue is Swastika Investmart Ltd and the issue advisor is Beeline Merchant Banking Private Ltd.
The object of the issue is to meet incremental working capital requirements and for general corporate purposes.The company started its business from the office automation products and at present is engaged in assembling of innovative products and systems Integrator of multifaceted solutions of leading quality products like Interactive Flat Panel, Interactive Board, Digital Podium, Digital Kiosk, CCTV Cameras to esteemed customers in sectors like government, PSUs, Education, Defence. The company provides a wide choice of “Innovative Solutions”, providing service to Government organizations across India through Government e Marketplace (GeM).
Techno is a brand name of Richa Infosystems Limited working under the government’s initiative to support “Vocal for Local” with a commitment to provide a competitive advantage by making current operations efficient & cost effective for Government PSU, Educational Institutes & all Organizations across the country. The company has added e-learning school content in its product portfolio from FY2021-22. and has developed content for classes from Standard 1 to Standard 12 (for science stream) for CBSE Board. The aim is to make video interactions, education systems, and surveillance more engaging and easily accessible to the mass.
Richa InfoSystems is a well-diversified enterprise and has the advantage of vast experience and in-depth understanding of the industry. The company today has an excellent team who are professionally managed with positive growth plans. The total revenue of the company was Rs 1,396.87 lakhs and the profit stood at Rs 48.57 lakhs as of November 2021.
The company is based in Gandhinagar and Mr. Tushar Dineshchandra Shah and Mrs. Hemaben Tushar Shah are the promoters of the company.
Report : Reshmi Kartha
