Park Hospital, Ardee Engineering, SIS Cash and Pace Digitek file DRHPs with Sebi for IPOs

Four companies — Park Hospital, Ardee Engineering, SIS Cash Service and Pace Digitek — have filed their draft prospectus offer letters with capital markets regulator Sebi to raise funds through an IPO.

Pace Digitek, which is a multi-disciplinary solutions provider specializing in telecom passive infrastructure industry including telecom tower infrastructure and optical fibre cables, is planning to raise around Rs 900 crore through the public offer.

The proceeds from the fresh issue to the extent of Rs 630 crore for funding capital expenditure requirement and general corporate purposes.


The company, in consultation with the bankers, may consider a further equity issue up to Rs 180 crore as pre-IPO placement. If this happens, the fresh issue size will be reduced.

The company’s business is broadly classified into verticals like telecom, energy and information, communications and technology (ICT) sector.

Ardee Engineering

Meanwhile, Ardee Engineering is an integrated design, engineering and manufacturing company having three primary business lines - pre-engineered buildings (PEB), material handling systems (MHS) and engineering services.

The IPO of the Hyderabad-headquartered company consists of a fresh equity issue of up to Rs 500 crore and an offer for sale of Rs 80 crore by the promoter selling shareholder Chandra Sekhar Moturu.

Ardee proposes to utilize Rs 279.6 crore from the net proceeds for capex requirements towards setting up two new manufacturing facilities at Seetharampur, Telangana. About Rs 45 crore will be used for setting up a new integrated manufacturing facility at Parawada. Rest of the funds will go for repayment of debt and general corporate purposes.

SIS Cash Service

SIS Cash Service is the second largest cash logistics player in the Indian cash logistics industry in terms of revenue from operations for fiscal 2024. The company's IPO, with a face value of Rs 10, is a mix of fresh issue of up to Rs 100 crore and an OFS of up to 37 lakh shares.

The company has been providing cash logistics solutions in India for 13 years. It offers cash in transit services, retail cash management (doorstep banking) services, automated teller machine (ATM) cash replenishment and first level maintenance services; and cash assistant-cash peon services.

Park Hospitals

Park Medi World is planning to raise around Rs 1,260 crore through its public offer. The issue comprises a fresh equity sale of Rs 960 crore and an offer for sale (OFS) of Rs 300 crore. Net proceeds will be used for repayment of debt, funding capex, and unidentified acquisitions.

The company is the second largest private hospital chain in North India with an aggregate bed capacity of 3,000 beds, and the largest private hospital chain in terms of bed capacity in Haryana with 1,600 beds located in the state as of September 2024.

It operates a network of 13 NABH accredited multi-super specialty hospitals under the ‘Park’ brand.