SSBA Innovations files for Rs.105-Cr IPO

SSBA Innovations, which runs tax portal TaxBuddy, has filed preliminary papers with capital markets regulator Sebi to raise INR 105 crore through an Initial Public Offering (IPO). Systematix Corporate Services has been appointed to manage the company's IPO. The equity shares of the company will be listed on both BSE and NSE. SSBA Innovations owns two platforms -- TaxBuddy and Finbingo. While TaxBuddy offers assisted tax (ITR and GST) planning and filing, advisory and IT notice management, Finbingo offers financial solutions, including planning, advisory and wealth management. Proceeds of the issue to the tune of INR 65.45 crore will be used for funding user acquisition and business development, INR 15.22 crore for technological development and balance towards general corporate purpose.