VCCircle

Hyderabad-based digital marketing company Ybrant Technologies Ltd has filed for IPO. It will be the first company in that space to go public in India. The company will issue 3.5 million shares of Rs 10 each through a 100 per cent book building process. This would constitute 15.85 per cent of fully diluted post-issue paid-up capital of the company.
The company is considering a pre-issue placement of up to 1,200,000 equity shares. New York-based Jina Ventures is advising a private equity fund to pick up stake in Ybrant via a pre-IPO placement. Ybrant has revenues of $23 million. It made three acquisitions over the last year. In November 2006, the firm acquired MediosOne, a US-based Internet advertising network with clients like American Express, eBay, US Army and Vonage. In February 2007, It acquired another US-based online ad-network company AdDynamix for $10 million. Two months later, it bought out a Serbian email marketing platform VoloMP.
Ybrant is founded by Suresh Reddy (chairman) and Vijay Kancharla (CEO).