Pragyawan Technologies Limited, active in skill development, utility solutions and infrastructure services, has filed its Draft Red Herring Prospectus with the Securities and Exchange Board of India for an initial public offering. The issue consists of a fresh equity offering of up to 400 crore rupees along with an offer for sale of up to 15 million shares of two rupees face value each. Net proceeds from the fresh issue will mainly fund working capital needs of 400 crore rupees, with the balance allocated for general corporate purposes. The company runs two primary segments: skill development through training products and capacity building programs, and utility solutions providing execution and operations and maintenance services in power, water, renewable energy and related infrastructure. Its integrated model covers procurement, contract manufacturing, system integration, project execution and lifecycle support across multiple Indian locations. Pantomath Capital Advisors Limited has been named sole book running lead manager for the offering.
