SoftTech Engineers to launch IPO on NSE EMERGE Platform

SoftTech Engineers, a software innovation SME catering to architecture, engineering and construction segments in set to launch its initial public offering on EMERGE platform of National Stock Exchange of India on April 27, 2018.

With a price band of Rs. 78 to Rs. 80 per equity share of face value of Rs. 10 each, the IPO will be open from Friday, April 27, 2018 to Thursday, May 03, 2018. The public issue of up to 28,51,200 equity shares of SoftTech Engineers will have a minimum bid lot is 1600 equity Shares and in multiples of 1600 equity shares thereafter. 

The Net Proceeds will be utilized for Product Development and Enhancement Costs; Funding of the Domestic and International Product Penetration and Marketing Costs; Repayment/ Pre-payment of certain unsecured borrowings availed by our Company; and General corporate purposes.

Pantomath Capital Advisors Private Limited and Small Industries Development Bank of India are the Book Running Lead Managers to the Offer and Link InTime India Private Limited is the Registrar to the Offer.

Established in 1996, the company has been specialising in developing product for e-governance and construction ERP products for smart city projects, municipal corporations, urban local bodies, development authorities and work organizations. It also offers 2D and 3D CAD based intelligent and machine learning driven technology which eliminates entire human intervention along with providing Cloud Technology enabled products offered as “SaaS”.