Affle (India) IPO opens today

The initial public offer(IPO) of Affle (India), the Indian unit of global technology company Affle, opens on monday. Affle International, Singapore is the parent company of 13-year old Adtech company Affle (India) Limited . Affle (India) is a global technology company with two business segments – the consumer platform and the enterprise platform. 

Founded in 2005, Affle is a global technology company with a proprietary consumer intelligence platform that delivers consumer engagements, acquisitions and transactions through relevant Mobile Advertising. The platform aims to enhance returns on marketing investment through contextual mobile ads and also by reducing digital ad fraud.

On Friday, Affle (India) raised about Rs 206.55 crore from 15 anchor investors by allotting 2772,483 equity shares at a price of Rs 745. Among the 15 anchor investors, Abeerden Asian Smaller Companies Investment and Franklin Templeton Investment Funds has subscribed over 3.05 lakh shares each.

Company History :

Company was incorporated as ‘Tejus Securities Private Limited’ under the Companies Act, 1956, with a certificate of incorporation issued by the Registrar of Companies, Maharashtra (“RoC”) on August 18, 1994 at Mumbai. Subsequently, the name of Company was changed to ‘Affle (India) Private Limited’ and a fresh certificate of incorporation issued by the RoC on September 29, 2006. Company was subsequently converted to a public limited company and the name of Company was changed to our present name, i.e., ‘Affle (India) Limited’, and a fresh certificate of incorporation consequent upon conversion was issued by the RoC on July 13, 2018.

Promoters And Management of Affle (India) :

  1. Anuj Khanna Sohum– Anuj Khanna Sohum, aged 41 years, is the Chairman, Managing Director and Chief Executive Officer of our Company.
  2. Affle Holdings- Affle Holdings was incorporated on July 16, 2008, under the Companies Act, Chapter 50 of Singapore with the Singapore Registrar of Companies.
  3. Affle IPO Promoter Holding
    Pre Issue Share Holding Pattern 92.17%
    Post Issue Share Holding Pattern 68.4%

Affle India Limited IPO Details :

ICICI Securities, Nomura Financial Advisory and Securities (India) are the book-running lead managers to the offer.

Open Date: Jul 29 2019
Close Date: Jul 31 2019
Total Shares: 6161073
Face Value: Rs. 10 Per Equity Share
Issue Type: book building
Issue Size: 458 Cr.
Lot Size: 20 Shares
Issue Price: Rs. 740-745 Per Equity Share
Listing At: NSE,BSE
Listing Date: Aug 08 2019

 

Financials of Affle India :

Affle India reported net worth of Rs 72.4 crore with gross debt standing at Rs 9 crore at the end March 2019. Its cash equivalents and other bank balances stood at Rs 30.4 crore in the same period. Its revenues have increased by 3x in the last 5 years.

Affle (India) IPO opens today
Affle India Limited (Restated – Un-Consolidated)

They primarily earn revenue from thier Consumer Platform on a cost per converted user (“CPCU”) basis, which
comprises user conversions based on consumer acquisition and transaction models. There consumer acquisition model focuses on acquiring new consumers for businesses, which is usually in the form of a targeted user downloading and opening an App or engaging with an App after seeing an advertisement delivered by us.

Also Consumer Platform’s transaction model is usually in the form of a targeted user submitting a lead acquisition form or purchasing a product or service after seeing an advertisement delivered by them.Consumer Platform also earns revenue through awareness and engagement type advertising, which comprises cost per thousand impressions (“CPM”), cost per view (“CPV”) and cost per click (“CPC”) models.

For Fiscals 2019 and 2018 on an unconsolidated basis,revenue from contracts with customers was Rs. 1,177.94
million and Rs. 837.56 million, respectively, an increase of 40.6% . Total Operating Expenses were Rs. 930.43 million and Rs. 669.91 million, respectively, an increase of 38.9% .

EBITDA was Rs. 247.51 million and Rs. 167.65 million, respectively, an increase of 47.6%. More importantly, revenue growth in India, which is a low CPCU market, did not impact EBITDA margin on an unconsolidated basis, which was 21.0% in Fiscal 2019 and 20.0% in Fiscal 2018. As at March 31, 2019 and 2018 on an unconsolidated basis, total assets were Rs. 935.85 million and Rs.580.31 million, respectively, an increase of 61.3%.

Company Contact Information :

Affle (India) Limited
312, B-Wing, Kanakia Wallstreet,
Andheri Kurla Road,
Andheri (East), Mumbai 400 093

Phone: +91 124 4992 914
Email: compliance@affle.com
Website: https://www.affle.com/

Affle IPO Registrar :

Karvy Computershare Private Limited
Karvy Registry House, 8-2-596, St. No. 1,
Banjara Hills, Hyderabad – 500 034
Andhra Pradesh, India

Phone: +91-40-23312454
Email: einward.ris@karvy.com
Website: https://karisma.karvy.com/

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