The Rs 459 crore Initial Public Offer (IPO) of mobile marketing company Affle (India), opened for subscription on Monday (July 29, 2019). The offer closes on July 31 and the price band is fixed at Rs 740-745 per share.
“The 13-year-old company aims to raise up to Rs 459 crore through the IPO, which is a combination of fresh issue of Rs 90 crore (20 per cent of the issue size) and offer for sale of Rs 369 crore (80 per cent),” said Anuj Kumar, Co-founder, Affle (India).
He added that the money raised through the fresh issue will be used for funding working capital requirements and for general corporate purposes
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The IPO will be the first offer under the new Unified Payment Interface (UPI) mechanism, which was made mandatory for retail investor category with effect from July 1, 2019.
The shares of the company will be listed on both NSE and BSE, and ICICI Securities, Nomura Financial Advisory and Securities (India) are the book-running lead managers to the offer.
Affle (India), a global technology company, has two business segments – the consumer platform and the enterprise platform – and it primarily deals in mobile advertising and mobile applications. While the consumer platform aims to enhance returns on marketing spend through delivering contextual mobile advertisements and reducing digital ad fraud, the enterprise platform provides end-to-end solutions for enterprises to enhance their engagement with mobile users.
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For FY19, Affle reported the consolidated revenue of Rs 268.6 crore and a profit after tax (PAT) of Rs 51.8 crore.
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