Pragyawan Technologies has filed preliminary papers with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an Initial Public Offering (IPO), comprising a fresh issue of shares valued at Rs 400 crore. Along with the fresh issue, there will be an offer for sale (OFS) of 1.5 crore equity shares by promoters -- Puneet Jain and Shefali Jain.
Proceeds from the fresh issuance will fund working capital requirements and general corporate purposes. Pantomath Capital Advisors is the sole book running lead manager to the public issue.
Pragyawan Technologies supplies skill development and training products, offering varied utility solutions and operations and maintenance services.
