Sattrix Information Security files DRHP for SME IPO, targeting a listing by mid-May

• 08 May 2024
• TM Team
• 0 Comments

Sattrix Information Security Limited (SIS), a distinguished IT and Cyber Security Solution provider, has successfully filed its Draft Red Herring Prospectus (DRHP) with the BSE SME. The company aims to raise approximately Rs. 20 Crore. 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).

With a notable presence spanning the Middle East and America, in addition to its home ground in India, Sattrix Information Security Limited plans to utilize the raised capital to fuel its expansion initiatives, thereby fortifying its market presence.

Sattrix’s strategic roadmap is to utilize the raised capital for several key initiatives. Firstly, significant investment will be directed towards technological enhancements, research, innovation, and the development of new solutions. Additionally, a significant portion of the investment will be directed toward enhancing the Security Operations Center (SOC) and Network Operations Center (NOC) setup. This commitment solidifies Sattrix's leadership in cybersecurity solutions while enhancing its capacity to effectively monitor and counter cyber threats using AI/ML and automation.

Furthermore, the roadmap entails a concerted effort to strengthen Sattrix's presence in India, with a strategic emphasis on tapping into enterprise SMBs, and the mid-market segment. This expansion underscores Sattrix’s commitment to growth and innovation in the Indian market.

Sattrix has witnessed a robust 68% year-over-year growth in the FY23-24. By collaborating with numerous government and non-government organizations, the company has significantly expanded its clientele during the last fiscal year. In addition to its strong IT and cybersecurity offerings, Sattrix has further diversified its service portfolio to help transform Technology and Operations within enterprises.

Commenting on the filing of the DRHP, Sachhin Gajjaer, MD at Sattrix Information Security Limited, stated, “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.”

Sattrix Information Security Limited was incorporated in 2013 with the objective of providing information technology and cybersecurity services. Boasting a team of 141+ employees the company has established partnerships with leading enterprises from Telecom, IT-ITES, BFSI, NBFC, and Retail sectors, as well as with SMBs and Conglomerates. With an impressive track record, Sattrix has successfully completed over 500 projects for 200 clients spanning 12 countries, underscoring its ability to deliver comprehensive solutions.

Sattrix Information Security offers a range of cybersecurity services, including assessments to identify weaknesses, professional services that encompass technology consultation and transformation initiatives such as cloud migration and digital transformation, and managed services for 24/7 support.