This would include shares worth up to Rs 180 crore by Sandipkumar Gupta and up to Rs 180 crore by Rajdipkumar Gupta. The money raised through issue of fresh shares would be utilised for the repayment or pre-payment, acquisition and other strategic initiatives. “Besides, it would be used to purchase office premises in Mumbai,” the company said.
Investors could bid for a minimum bid lot of 40 shares and in multiples of 40 shares thereafter. The issue will close on September 11, Friday.
Incorporated in 2004, the company has served more than 30,150 clients since inception on June 30. The business deals happened in the three verticals — namely Enterprises, Mobile Operator and Business Process Outsourcing. It has clients across Africa, Asia Pacific, Europe, Middle East and North America.
The company’s profit stood at Rs 79.60 crore in FY20 against Rs 74.8 crore in FY19 and Rs 58.10 crore in FY18. Return on equity (RoE) stood at 30 per cent for FY20 against 36 per cent each in FY19 and FY18.
In terms of PAT margins, the company reported a margin of 8 per cent in FY20, down from 9 per cent in FY19 and 11 per cent in FY18. Total billable transactions for the company rose 38 per cent compounded annually, the company said in a presentation .
The company has a total of 291 employees (including the ones in subsidiaries). Besides, it has 27 employees working outside India. It was ranked 2nd globally as a tier 1 application-to-peer service provider and 1st for value added services amongst tier 1 vendors as per the A2P SMS Messaging Vendor Performance Report 2017.
“Bids by anchor investors shall be submitted, and allocation to them will be completed, on September 8, 2020, being one working day prior to the Offer opening date,” the company said .
ICICI Securities, Axis Capital, Edelweiss Financial Services and IDBI Capital Markets & Securities have been appointed as the book running lead managers to the offer. KFin Technologies Private is acting as the registrar to the offer. The shares of the company are proposed to be listed on both BSE and NSE.