Esconet Tech files draft paper to list in NSE Emerge

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New Delhi-headquartered Esconet Technologies has filed draft paper for listing at NSE Emerge. The IPO comprises a fresh issue of 33.60 lakh shares.

The company manufactures high-performance supercomputers, data servers and workstations, besides offering a wide range of IT solutions for SMEs, large organisations and public sector clients, such as data storage and networks, security, virtualisation and data protection

The company plans to use ₹16 crore from IPO proceeds to fund its long-term working capital requirements and ₹2.5 crore to invest in its wholly owned subsidiary ZeaCloud Services Private Ltd to fortify data backup capabilities.