Bonbloc Technologies has secured Securities and Exchange Board of India’s (SEBI's) approval to raise funds through initial public offering (IPO). The company’s proposed maiden public offering is a combination of a fresh issue of shares worth Rs 230 crore and an offer for sale (OFS) of up to 3 crore shares by promoter Bonbloc Inc.
From the fresh issue, the company plans to allocate Rs 136 crore towards investment in the development of its products and platforms and Rs 13 crore for the purchase of laptops. Also, a portion of the proceeds will be used to fund inorganic growth through unidentified acquisitions, other strategic initiatives, and for general corporate purposes. Pantomath Capital Advisors is the sole book-running lead manager to the offer.
Bonbloc Technologies has rapidly evolved into an AI-native enterprise technology services and software solutions provider with global delivery capabilities. It focuses on offering industry-specific AI-software-as-a-service (AI-SaaS) solutions, digital transformation and modernization offerings, and intelligent data solutions.
