Gamp Services has filed draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO). The company's IPO comprises a fresh issue of 31.93 lakh shares and an offer for sale of 15 lakh shares by promoters.
The company plans to utilise Rs 40.05 crore to procure equipment and IT hardware for its Services and data Logger Manufacturing Verticals. Also, a portion would be used to fund inorganic growth through unidentified acquisitions and for general corporate purposes. Valmiki Leela Capital is the sole merchant banker for the public issue. The shares of the company are proposed to be listed on BSE and NSE.
Gamp Services provides compliance and validation, qualification and instrumentation solutions to customers operating primarily in regulated industries.