Bonbloc Technologies IPO | The Chennai-based company’s planned IPO consists of an offer for sale (OFS) of up to 3 crore shares by promoter Bonbloc Inc. and a new issuance of shares valued at Rs 230 crore.
In order to generate money via an initial public offering (IPO), Bonbloc Technologies, a company that develops software as a service (SaaS) solutions using blockchain, the Internet of Things, and data science, has submitted preliminary documents to markets regulator Sebi.
The draft red herring prospectus (DRHP) issued on Saturday states that the Chennai-based company’s planned first public offering consists of an offer for sale (OFS) of up to 3 crore shares by promoter Bonbloc Inc. and a new issuance of shares valued at Rs 230 crore.
The business intends to use Rs 13 crore for laptop purchases and Rs 136 crore for investments in the growth of its platforms and products as a result of the new issuance. A part of the revenues will also go toward general business needs, other strategic initiatives, including funding inorganic expansion via unnamed acquisitions.
Since its incorporation in 2020, Bonbloc Technologies has quickly developed into a software solutions and enterprise technology services company that specializes in AI and can supply its products anywhere in the world. It focuses on providing intelligent data solutions, digital transformation and modernization options, and AI-software-as-a-service (AI-SaaS) solutions tailored to certain industries.
The company’s systems provide real-time decision-making, predictive analytics, and automated responses in complex and regulated contexts by integrating AI, ML, blockchain, and IoT into a single architecture.
According to the DRHP, Saksoft, Newgen Software Technologies, and Happiest Minds Technologies are among the company’s listed counterparts.
Fractal Analytics, an artificial intelligence firm, submitted applications to Sebi last month in an attempt to earn Rs 4,900 crore via an IPO.
The offer’s only book-running lead manager is Pantomath Capital Advisors.