Iris Global Services files IPO papers with SEBI; eyes ₹200 crore via fresh issue

Iris Global Services Ltd, a technology and IT distribution services provider, has submitted draft documents to the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO will involve the issuance of up to ₹200 crore in fresh equity shares and an offer for sale (OFS) of up to 5 crore equity shares by the promoters, Sanjiv Krishen and Kamini Talwar, as per the draft red herring prospectus (DRHP) filed on Monday.

Currently, the promoters own more than 98% of the company. Iris Global Services, based in New Delhi, aims to utilize the proceeds from the IPO to address working capital needs and general corporate purposes. A pre-IPO placement of ₹40 crore is also planned. If this placement occurs, the size of the fresh issue will be adjusted accordingly.

Established in 2009, Iris Global Services has been engaged in IT distribution and services, with the goal of offering cost-effective products and solutions across all IT domains. Pantomath Capital Advisors is the sole book-running lead manager for the issue, while KFin Technologies acts as the registrar. Comments must be in English and written in full sentences; they cannot be abusive or personal.