Gurgaon based Earthood Services Limited is preparing to bring its Initial Public Offering i.e. IPO. Earthood Services has filed 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. 27.30 lakh equity shares of Dr. Kaviraj Singh and 14.70 lakh equity shares of Ashok Kumar Gautam will be sold through offer for sale. Subscription reservation will be given to eligible employees in this offer. Discount is also being offered to eligible employees bidding in the employee reservation portion. The Company, in consultation with BRLMS, may consider issuing specified securities aggregating up to INR 10 crores through a Pre-IPO placement. Upon completion of the Pre-IPO placement, the proceeds raised under the same will be reduced from the fresh issue. Unistone Capital is the book-running lead manager for the IPO. Proceeds raised through the fresh issue up to INR 30 crores will be used to meet funding requirements. Unistone Capital Private Limited is the book-running lead manager for the IPO and Link Intime India Private Limited is the registrar to the issue. The equity shares are proposed to be listed on NSE and BSE Limited. Earthwood Services was incorporated in 2012 Earthwood Services was incorporated in 2012. Dr. Kaviraj Singh and Ashok Kumar Gautam are the promoters of the Company. Earthwood Services operates in the energy, environment and climate change sectors.
