Sattrix Information Security files draft papers with BSE SME for IPO, targets listing by mid-May

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₹20 crore via initial public offerings (IPO). The offering is structured through a fixed-price method, with portions of the offer reserved for various investor categories covering Qualified institutional buyers (QIBs), Non-institutional investors (NIIs), and Retail individual investors (RIIs). Also read: SK Finance files DRHP with SEBI to raise ₹2,200-crore via IPO; details here “Filing the DRHP on BSE SME is a crucial step towards our goal of bringing our company to the public markets.

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 at Sattrix Information Security Limited. The public offering consists entirely of a new equity sale comprising 18 lakh shares, with the company aiming to raise approximately ₹20 crore through this avenue. Over 50 per cent of the shares are reserved for retail investors, while the remaining 50 per cent will be allocated to non-retail investors.

Sattrix Information Security, with a significant footprint across the Middle East and the US alongside its operations in India, intends to utilize the raised capital to drive its expansion efforts. A portion of the net proceeds is earmarked for technological advancements, research, innovation, and the creation of new solutions. Moreover, a substantial segment will be allocated to bolstering the security operations center (SOC) and network operations center (NOC) infrastructure.