- The Indian unit Affle (India) is expected to raise approximately 650 crores through its IPO.
- ICICI Securities and Nomura Financial Advisory and Securities (India) are lead manager for Affle India Limited IPO.
Affle India is all set to file its IPO in the first week of August this year, informed a source on condition of anonymity. This came a bit late as the upcoming IPO was earlier announced but the tentative dates were not.
The 13-year-old adtech company, based in India but operating in South East Asia, MENA, Europe, USA, Japan, South Korea and Australia, obtained SEBI permission for its October 2018 IPO. Affle’s parent business -Affle Holdings Singapore -is going to divest some of its interest through the IPO.
Affle Holdings, based in Singapore, has submitted draft documents to SEBI to list its Indian division. According to commercial finance sources, the Indian company— Affle (India) — is anticipated to raise about 650 crores through its IPO.
According to draft papers filed with the SEBI, The IPO comprises a fresh issue of shares worth ₹90 crore, besides an offer-for-sale of up to 55 lakh equity shares by Affle Holdings. ICICI Securities and Nomura Financial Advisory and Securities (India) will manage the IPO.
Affle in the beginning…
Affle was set up with an SMS-based marketing solution in April 2005 when there was no 3 G, PDAs (private digital assistants) were all the rage, and the Blackberry was the smartest device around. Founders Anuj Khanna Sohum and Anuj Kumar were persuaded that customers would spend plenty of time on their mobile phones even back then.
Currently, Affle provides a proprietary customer intelligence platform through appropriate mobile advertising that provides customer purchases, commitments and operations. The proprietary platform of Affle seeks to increase the yields on marketing spending by providing contextual portable advertisements and decreasing digital ad fraud while proactively addressing the demands of consumer privacy.