Sattrix Information files DRHP for Rs 20 cr SME IPO, targeting mid-May listing
Sattrix Information Security has filed its draft red herring prospectus (DRHP) with the BSE SME for an IPO. The issue is completely a fresh equity sale of 18 lakh shares and through it, the company plans to raise around Rs 20 crore.
In the public offer, about 50% is reserved for allocation to retail investors and the the other 50% will be allocated to non-retail investors.
With a notable presence spanning the Middle East and the US, in addition to India, Sattrix Information Security plans to utilise the raised capital to fuel its expansion initiatives.
A part of net proceeds are proposed to be used for technological enhancements, research, innovation, and the development of new solutions. Further, a significant portion will be directed toward enhancing the security operations center (SOC) and network operations center (NOC) setup.
The company is also planning a concerted effort to strengthen its presence in India, with a strategic emphasis on tapping into enterprise SMBs, and the mid-market segment.
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«It is a significant milestone for us, and we believe it will provide us with the necessary resources and exposure to achieve our long-term growth objectives and strengthen our market presence,» said Sachhin Gajjaer, MD, Sattrix Information.
Sattrix offers a range of cybersecurity services, including assessments to identify weaknesses, professional services that encompass technology consultation and transformation
