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Mobile Marketing Firm Affle India’s Rs 459-cr IPO to open on July 29

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The Rs 459-crore initial public offer (IPO) of mobile marketing company Affle India will open for bidding on July 29 with a price band of Rs 740–745 per equity share.

The IPO comprises of a fresh issue aggregating up to Rs 90 crore and an offer for sale of up to 49,53,020 equity shares by Affle Holdings, according to a company statement.

The issue will close on July 31, 2019, it added.

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ICICI Securities, Nomura Financial Advisory and Securities (India) are the book-running lead managers to the offer.

The equity shares of the company are proposed to be listed on the National Stock Exchange of India and BSE.

As on May 31, 2019, the company had 236 full-time employees across offices located in Gurugram, Mumbai, Bengaluru, Singapore, Jakarta (Indonesia) and Dubai (UAE), as per the company’s draft red herring prospectus.

To recall, last September Affle India acquired the brand, re-targeting and push notification businesses and technology platform of Vizury, a Bangalore-based AdTech startup, in an all-cash deal estimated at about $10 million.

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Vardaan
Founding editor at IndianWeb2, he's been writing at IndianWeb2 since 2007. Apart from blogging he had a professional career of software developer, Ux developer and search engine marketer in past. His vision of IndianWeb2 has been laid down so as to showcase, encourage and propagate Indian startups, innovation and entrepreneurship ideas.

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