Affle Holdings has received Sebi’s nod to float the initial public offer (IPO) of its Indian unit, as per merchant banking sources statement. The Indian unit namely Affle (India), is expected to raise around Rs. 650 crore through its IPO, the source added.
The company, which had filed the draft prospects or DRHP with the regulator in July seeking its clearance to float an initial share sale, finally obtained the observations from the regulator on October 19. As per the draft paper, Affle Holdings IPO comprises fresh issue of shares worth Rs. 90 crore, in addition an offer-for-sale of up to 55 lakh equity shares by the company. Nomura Financial Advisory and Securities and ICICI Securities will manage the company’s public issue.
Affle Holdings is a leading global technology company based on Singapore, with a proprietary consumer intelligence platform delivering consumer acquisitions, engagements and transactions through relevant mobile advertising.