Tagbin Looking To Hit The IPO Markets By Year End

Gurgaon-based experiential tech start-up Tagbin Services is gearing up to file the Draft Red Herring Prospectus (DRHP) by September of this year. 

Speaking to Outlook Business, Saurav Bhaik, CEO of Tagbin, shared that the company is currently undergoing the process of getting converted into a public limited company before they file the papers for the initial public offering (IPO). 

“We have been in the market for 11 years now, and this seems like the right time for us to get listed. We have been profitable since 2017, and our EBITDA is rising, and currently, we are at 25 per cent PAT positive,” he stated. 

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Speaking about the company’s performance over the years, Bhaik added that currently 90 per cent of revenue comes from the government of India and other state governments, and the rest 10 per cent comes from private clients.

He added that the start-up is now expanding its footprints across the globe by opening offices in Dubai and the United States, and it is also serving major international orders that include a privately funded cultural center in Japan. 

Recent orders that the company has served include the Pradhan Mantri Sangrahalaya, the transmission of the Bose Hologram at India Gate, and the and the digital experience center at the G20 summit. Additionally, it has provided AI services to NITI Aayog, the National Academy of Customs, indirect taxes and narcotics, the Ministry of Culture, the National Film Archives of India, etc. The company is also working on various smart city projects across India. 

The company claims to have also provided its services to companies like Hero MotoCorp, L&T, Coca-Cola, Accenture, Vodafone, Audi, etc., and organizations like the Isha Foundation, Sathya Sai Foundation, Ram Janambhoomi Trust, etc. to provide experience centers. 

Founded in 2013 by Saurav Bhaik, Ankit Sinha, and Chetan Bansiwal, Tagbin uses artificial intelligence, augmented reality, and virtual reality to redesign museums and enhance the experience of visitors by turning simple spaces into digitally interactive ones.