Several companies such as Protean eGov Technologies Ltd (formerly known as NSDL E-Governance Infrastructure Ltd, travel technology firm TBO Tek Ltd, footwear maker Campus Activewear and SaaS company Capillary Technologies India Ltd have filed their respective draft IPO papers over the weekend, joining a long queue of companies planning to go public.
Currently, 35 companies have secured the market regulator’s approval for floating IPOs next year, proposing to raise roughly Rs 50,000 crore, according to Prime Database. Another 33 companies awaiting the regulator’s approval, plan to raise about Rs 60,000 crore. This excludes the much-anticipated IPO of Life Insurance Corporation of India (LIC), expected to be launched in the current fiscal.
The Protean eGov IPO is a pure offer for sale (OFS) by existing investors of the company, such as IIFL Special Opportunities Fund, NSE Investments Ltd, Axis Bank and Deutsche Bank, among others.
Protean eGov has extensive experience in creating digital public infrastructure and developing innovative citizen-centric e-governance solutions. Originally setup as a depository in 1995, they created a systemically important national infrastructure for the development of capital markets in India. The company has been the Chief Architect and Implementer for some of the most critical and large-scale technology infrastructure projects in India
TBO Tek plans to raise Rs 2,100 crore through its IPO, and a mix of primary and secondary share sale. The Rs 900 crore primary capital to be raised through the IPO will be used to strengthen the company’s technology platform and inorganic growth.
“We simplify the business of travel for suppliers such as hotels, airlines, car rentals, transfers, cruises, insurance, rail and others (collectively, Suppliers), and buyers that includes, retail buyers such as travel agencies and independent travel advisors (Retail Buyers); and enterprise buyers that include tour operators, travel management companies, online travel companies, super-apps and loyalty apps (“Enterprise Buyers”, together with Retail Buyers, “Buyers”) through our two-sided technology platform that enables Suppliers and Buyers to transact seamlessly with each other. Our platform allows the large and fragmented base of Suppliers to display and market inventory to, and set prices for, the large and fragmented global Buyer base,” TBO Tek said in its draft papers.
Saas tech company Capillary Technologies India Ltd plans to raise Rs 850 crore in its share sale.
“We are a technology-first company and offer artificial intelligence (“AI”)-based cloud-native Software-as-aSolution (“SaaS”) products and solutions such as automated loyalty management and customer data platforms (“CDP”) that enable our large enterprise customers to develop loyalty of their consumers and channel partners. Our diversified product suite and technology platform allows our customers to run end-to-end loyalty programmes, get a comprehensive view of consumers and offer unified, cross-channel strategies that deliver a real-time omnichannel, personalized, and consistent experience for consumers. We are the market leader in the Asia-Pacific region with a 39% market share in terms of loyalty management capabilities in 2020 based on the geographies in which we operate,” the company stated in its draft prospectus.
The IPO of sports and athleisure footwear brand Campus is a pure secondary sale of shares by its promoters and private equity (PE) backer, TPG Growth.