IFSPL may come out with IPO this year

IFSPL may come out with IPO this year

Innovators Façade Systems India Pvt. Ltd., a facade fabrication company, may soon come out with an IPO to fund its capex programme and working capital needs. The public issues are likely to happen in first half of the current financial year, provided the market condition is favourable. According to our sources, the company has already received Rs 9.5 crore as part of pre-IPO proceeds.

IFSPL is an Aluminium Façade contractor engaged designing, engineering, fabrication and installation of all types of façade systems. The company is headed by Radheshyam S. Sharma with about 17 years of experience in the construction industry. IFSPL has completed projects primarily in Mumbai, Pune and Thane with reputed corporate clientele and airport projects across geographies. Over a period of time, IFSPL had been able to increase its orders from the existing clientele and also added new corporates like Infosys, JW Marriot, Reliance Industries Ltd, etc. The current order book position as on March 31, 2018 is estimated to be Rs. 270 crore.

Majority of the contracts of IFSPL are from Mumbai, Navi Mumbai, Thane and Delhi. In order to improve the scale of operations, the company has set up satellite facilities at Delhi and Bangalore. On account of growing demand of office space in metro cities like Delhi and Bangalore, the company has set up a temporary warehouse facility (satellite facilities) in nearby vicinity. This will give locational advantage to the company and help absorb its transportation costs. The company is planning to raise Rs 50 crore through equity issue.

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