The IPO of the Bangalore-based startup includes an issue of 3,62,90,000 equity shares of face value Re 1 each for cash at Rs 10 per equity share. The IPO will not have an offer for sale (OFS) component.
Infurnia co-founders Nikhil Kumar and Lovepreet Mann will hold the largest share in the startup at a combined share of 50.64%.
“The startup aims to invest Rs 29.02 crore in its wholly-owned subsidiary, while Rs 8.68 crore will be used for general corporate purposes,” the company said.
According to the IPO prospectus, the listing will allow Infurnia to expand and diversify its cloud-based offerings. The funds will also be directed towards expanding the team, expertise and capabilities by entering into new market segments and acquiring new customers.