What is likely to be the nature of the IPO proposed to be launched by Inspira Enterprise?

Inspira Enterprise India, which has filed DRHP with SEBI for its proposed IPO, is a cybersecurity and digital transformation services provider. The company will raise Rs.800 crore via the IPO of which Rs.300 crore will be via fresh issue while Rs.500 crore will be via offer for sale with the promoter family selling part of its stake. The entire OFS will be by the promoter, Prakash Jain, and his family trusts.

The company is also, meanwhile, planning to do a pre-IPO placement of Rs.75 crore to qualified institutional buyers, which will proportionately reduce the size of the IPO. The fresh issue proceeds will be largely used for debt repayment and for working capital purposes. Apart from its India operations, Inspira also has a strong presence in the US, Southeast Asia, Middle East and Africa.

Nearly 45% of its total business comes from cybersecurity, while the balance 55% is equally distributed between digital solutions and integrated enterprise solutions. For FY21, Inspira reported Revenues of Rs.802 crore, EBITDA of Rs.52 crore and PAT of Rs.36 crore.