Earthwood Services filed DRHP with SEBI: Company will issue 36 lakh fresh shares for IPO, there will also be OFS of 42 lakh shares.

Gurgaon based Earthwood Services Limited is preparing to launch its Initial Public Offering i.e. IPO. Earthwood Services has filed a draft red herring prospectus (DRHP) for the IPO with market regulator Securities Exchange Board of India i.e. SEBI. This information has been received from BSE notification.

This IPO with a face value of Rs 10 will be a combination of fresh issue and offer for sale (OFS). 36 lakh equity shares will be sold through fresh issue and 42 lakh equity shares of promoters will be sold through offer for sale.

Subscription reservation will be given to eligible employees

Through Offer for Sale, 27.30 lakh equity shares of Dr. Kaviraj Singh and 14.70 lakh equity shares of Ashok Kumar Gautam will be sold. In this offer, subscription reservation will be given to eligible employees. Discounts are also being offered to eligible employees bidding in the Employee Reservation Portion.

The company may consider an issue of specified securities aggregating up to Rs 10 crore through pre-IPO placement in consultation with BRLMS. After the pre-IPO placement is completed, the amount raised under it will be deducted from the fresh issue.

Unistone Capital is the book-running lead manager for the IPO.

The amount raised from the fresh issue will be used to meet the funding requirements. Unistone Capital Private Limited is the book-running lead manager for this IPO and Link Intime India Private Limited is the registrar to the issue. It is proposed to list the equity shares on NSE and BSE Limited.

Arthood Services was established in 2012

Arthood Services was established in 2012. Dr. Kaviraj Singh and Ashok Kumar Gautam are the promoters of this company. Earthood Services operates in the energy, environment and climate change sectors.