ROX Hi-Tech Ltd, the IT solutions provider, has filed its Draft Red Herring Prospectus (DRHP) with NSE Emerge to raise funds with an initial public offering (IPO).
ROX Hi-Tech IPO will be an SME IPO of up to 60,64,000 equity shares, comprising a fresh issue of up to 55,14,000 shares and an Offer for Sale (OFS) of up to 5,50,000 shares.
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ROX Hi-Tech intends to raise funds through the SME IPO for setting up a Network Operations Centre (NOC) & Security Operations Centre (SOC) at Chennai, setting up a Chennai Medical Automation Centre, setting up a Global Software Delivery Center at Noida and strengthen the working capital requirements.
In FY2023, ROX Hi-Tech reported total revenues of ₹133.99 crore and a net profit of ₹15.33 crore.
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Swaraj Shares and Securities Private Limited has been appointed as the Book Running Lead Manager to the Issue, while Purva Sharegistry (India) Private Limited is the IPO Registrar.
The company’s strategic objective is to improve and consolidate its position as one of the leading end to end IT implementation company with a continuous growth philosophy and to enter into value services by expanding and augmenting its product portfolio, which includes Medical automation, powered by AI and advanced technologies, is revolutionizing the healthcare landscape, ROX Hi-Tech said in a release.
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The company is committed to establishing a Centre of Excellence (COE) focused on medical automation, specifically to create an assist system for surgeons using deep learning and AI and Revolutionizing Cancer Treatment CyberKnife System with LINAC technology, it added.
