Delhi-based Funny Software Ltd, which is into offering IT services, consulting and business solutions, has entered the capital market with a public issue of 32,80,000 equity shares of Rs 10 each at a fixed price of Rs 14 each aggregating Rs 4.59 crore.
Of the total numbers, 1,80,000 equity shares will be reserved for subscription by market makers, leaving a net issue of 31,00,000 for the public. The shares are proposed to be listed on the BSE SME platform, a company statement said here.
The net proceeds of the issue are proposed to be utilised to part—finance incremental working capital requirements as also to acquire certain fixed assets and general corporate purposes.
The company’s total revenue stood at Rs 3.38 crore for the year ended March 31, 2014, from Rs 84.76 lakh for the year to March-end of 2013. For the first nine months of 2014-15, it achieved a total revenue of Rs 2.75 crore.
The issue opened on May 14 and will close on May 20.
First Overseas Capital Limited is the lead manager for the issue and Skyline Financial Services Pvt Ltd the registrar.