Cybersecurity firm Inspira Enterprise India, which plans to launch its Rs 800 crore IPO this month, will use funds raised from the new issue to expand its presence geographically, particularly in the United States, said on Sunday. his senior manager.
Currently, the Mumbai-based company has operations in six countries such as Singapore, Philippines, United Arab Emirates, Indonesia, United States and Kenya.
The company is looking to increase Rs 300 crore through the new share issue. In addition, there will be an offer to sell Rs 500 crore shares by Prakash Jain, Manjula Jain Family Trust and Prakash Jain Family Trust.
In an interaction with PTI, Chetan Jain, Managing Director of Inspira, said, “We plan to launch our Initial Public Offering (IPO) this month, primarily before the Christmas holidays. In case we can’t get out this month, we’ll surely be launching the public show next month. ”
The company has already received the green signal from Sebi to launch the public show.
He said the proceeds from the new show would be used to expand the company’s geographic presence.
“We intend to focus on strengthening our presence in new markets and responding to the need for digital transformation solutions in new industries,” said the CEO of the company, Manoj Kanodia.
“ We just opened an office in the United States and we are looking to further expand our presence in the United States over the next two to three years. In addition, we are also targeting Europe and Australia, ” he added.
In addition, the funds will be used for debt repayment and general corporate purposes.
The company provides cybersecurity and digital transformation services to its clients and has executed major cybersecurity, infrastructure and digital transformation transformation projects for various institutions in India.
Inspira, which classifies its activity into three categories: cybersecurity; digital solutions; and an integrated business solution – said cybersecurity vertical sector accounts for 44% of the company’s revenue.
The company recorded profit after tax (PAT) of Rs 36.1 crore in FY21 and generated revenue of Rs 803 crore in FY21 which includes Rs 354.5 crore from cybersecurity solutions. In fact, the cybersecurity category registered a 47% CAGR (compound annual growth rate) in fiscal year 19-21.
Currently, Inspira serves 235 financial institutions and businesses across all industries, and a large portion of the company’s revenue comes from the financial sector, Kanodia said.
“The company’s growth strategies include developing new solutions, expanding our customer base and expanding our geographic presence,” he added.
According to Jain, the company has grown tremendously over the past year and a half and during that time its workforce has grown three times to a total of 1,100.
Speaking about cybercrime in the country, he said India is the second most targeted nation for cyber attacks in the world after the United States. In fact, companies of all sizes and in all industries are targeted here.
In addition, to combat the threat of cybercrime, companies are dedicating a separate budget for cybersecurity solutions, he added.
To stay ahead of the game, Inspira’s Digital Security Operations Center at Navi Mumbai operates 24/7 and continuously monitors cybersecurity attacks that occur around the world. This constant monitoring helps us to better serve our customers, Jain said.
With its wide range of offerings across multiple verticals and geographies, the company has capabilities spanning the digital lifecycle of services ranging from consulting, architecture, design and implementation of solutions. monitoring and providing managed services.
(This story was not edited by Devdiscourse staff and is auto-generated from a syndicated feed.)