IPO
US-based staffing solutions provider Tryfacta files papers for $150-M GIFT City IPO
California (USA)-based Tryfacta has filed draft papers with the International Financial Services Centres Authority (IFSCA) for a proposed $100-150-M initial public offering on exchanges at GIFT City. YOKI Financial Services is the bookrunning lead manager to the transaction.Founded in 1996, Tryfacta provides artificial intelligence-enabled workforce and technology solutions to government and educational agencies. The firm plans to use the funds raised from the fresh issue to repay working capital facilities and fund acquisitions and strategic investments.The proposed offering includes a fresh issue of 13.3 million equity shares and an offer for sale of 3 million shares by shareholder Ratika Tyagi.Upon listing, Tryfacta would be the first US-headquartered company to list its equity shares in India through the GIFT City framework.
Want to receive such news items in your inbox? Click Here to sign up for a trial.
