It ams to raise Rs 1.19 crore through this issue at a price of Rs 14 apiece. It is an offer for sale issue by Sarthak Vijlani, says the merchant banker and advisory firm in its prospectus filed with the SEBI.
After the issue, promoter Sarthak Vijlani will reduce its shareholding in the company to 66.21 percent from 93.17 percent. Other promoter group will dilute their entire 6.83 percent stake through this offer.
The company will not get any proceeds from the offer. Navigant has reported profit of Rs 20.38 lakh on revenue of Rs 83.84 lakh for FY15. For June quarter, its profit stood at Rs 7.6 lakh on revenue of Rs 23.84 lakh.
Equity shares are proposed to be listed on the BSE SME platform. First Overseas Capital is a lead manager and Karvy Computershare Private Limited is registrar to the issue.
