New Delhi: Video surveillance and biometric solutions provider Transline Technologies has filed draft papers with markets regulator Sebi seeking its approval to launch initial public offering (IPO).
The company's maiden public issue is entirely an offer for sale (OFS) of 1.62 crore equity shares by promoters and a shareholder, with no fresh issuance component, according to the draft red herring prospectus (DRHP) filed on Thursday.
Accordingly, the company will not receive any funds from the public issue, and all the capital will go to selling shareholders.
At present, promoters and promoter group entities hold 70.81 per cent stake in the city-based Transline Technologies.
The company offers integrated products and services across four verticals -- video surveillance solutions, including proprietary software's like StorePulse, CheckCam and CamStore; biometric solutions for identity verification and Aadhaar-linked applications; IT Infra solutions such as data centres and network integration; and services including SaaS products and managed support.
It serves a diverse clientele like government bodies, public sector units, and private enterprises across sectors, including information technology, railways, and oil & gas, delivering secure solutions across India.
To assist the company's maiden public issue, Motilal Oswal Investment Advisors Ltd has been appointed as the lead merchant banker.
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