Nihilent Technologies plans $53M IPO

Pune-based Nihilent Technologies is planning to go public and is expected to file draft papers with market regulator Sebi soon to raise an estimated Rs 350 crore through Initial Public Offer (IPO).

Nihilent is a global consulting and solutions integration company. The Pune headquartered firm has experience in international consulting, IT outsourcing and services.

The company will soon approach Securities and Exchange Board of India (Sebi) to file its Draft Red Herring Prospectus (DRHP), merchant banking sources said.

The company is planning to raise funds to the tune of Rs 350 crore, they added.

Led by L C Singh, the company has operations in North America, the UK and Ireland, Africa, Middle East, Australia and Asia.

According to the company's website, its shareholders include Hatch Investments (Mauritius) Ltd.

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