ISSPL Limited Files Draft Red Herring Prospectus for Proposed SME IPO

ISSPL Limited, formerly known as IRClass Systems and Solutions Limited, has submitted its Draft Red Herring Prospectus (DRHP) for the proposed Initial Public Offering (IPO) on the SME platform to BSE Limited. The IPO may include up to 25,00,000 shares with a face value of ₹10 each, priced according to consultations with the Book Running Lead Manager, subject to regulatory approvals and market conditions.

The IPO aims to provide the company with access to capital markets, bolstering its growth in the subsequent phase. The DRHP can be accessed on ISSPL's website, BSE SME, and Arihant Capital Markets' website. ISSPL specializes in providing independent technical inspection, certification, and testing solutions across various industrial sectors.

The Company has expanded its customer base and presence across key locations in India. Mr. Arun Sharma, ISSPL's Chairman, stated that the DRHP filing signals a significant milestone in ISSPL's journey as an independent, professionally managed technical services company. The proposed listing will offer enhanced capital access, increased visibility, and expanded opportunities across existing and emerging markets.

Mr. Vinay Kshirsagar, ISSPL's Managing Director, highlighted the growing demand for inspection, certification, and testing services in India's industrial sectors, driven by a focus on safety, regulatory compliance, asset integrity, quality assurance, and independent inspection. The IPO is subject to regulatory and market approvals, with further details to be disclosed in line with applicable regulations.

The Book Running Lead Manager is Arihant Capital Markets Limited, and MUFG Intime India Private Limited (formerly Link Intime India Private Limited) serves as the Registrar to the Issue.