 "Cybersecurity firm Inspira Enterprise plans to float IPO this month")
CybersecurityfirmInspiraEnterpriseIndia,whichplanstolaunchitsRs800-croreIPOthismonth,willusethefundsgarneredthroughthefreshissueforexpandingitspresencegeographically,especiallyintheUS,itsseniorofficialsaidonSunday.
Atpresent,theMumbai-basedcompanyhaspresenceinsixcountriessuchasSingapore,thePhilippines,theUAE,Indonesia,theUSandKenya.
ThecompanyislookingtoraiseRs300crorethroughthefreshissuanceofequityshares.Besides,therewillbeanofferofsaleofequitysharestothetuneofRs500crorebyPrakashJain,ManjulaJainFamilyTrustandPrakashJainFamilyTrust.
InaninteractionwithPTI,ChetanJain,themanagingdirectorofInspira,said,"Weareplanningtolaunchourinitialpublicoffering(IPO)inthismonth,mostlybeforetheChristmasvacations.Incasewecouldn'tcomeoutinthismonth,wewillsurelylaunchthepublicissueinthenextmonth".
ThecompanyhasalreadyreceivedSebi'sgreensignaltolaunchthepublicissue.
Hesaidthatproceedsofthefreshissuancewillbeutilisedtoexpandthecompany'spresencegeographically.
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"Weintendtofocusonbuildingourpresenceinnewmarketsandaddressingtheneedfordigitaltransformationsolutionsinnewvertical,"thecompany'schiefexecutiveofficerManojKanodiasaid.
"WehavejustopenedaofficeintheUSandwearelookingtofurtherexpandourpresenceintheUSinthenexttwo-threeyears.Besides,wearetargetingEuropeandAustraliatoo,"headded.
Inaddition,thefundswillbeusedforrepaymentofdebtandgeneralcorporatepurposes.
Thecompanyprovidecybersecurityanddigitaltransformationservicestoitsclientsandhaveexecutedlargecyber-securitytransformationprojects,infrastructureanddigitaltransformationprojectsforvariousinstitutionsinIndia.
Inspira,whichclassifiesitsbusinessintothreecategories--cybersecurity;digitalsolutions;andintegratedenterprisesolution--saidcybersecurityverticalcontributes44percentofthecompany'srevenues.
Thecompanyclockedaprofitaftertax(PAT)ofRs36.1croreinFY21andgeneratedarevenueofRs803croreinFY21,whichincludesRs354.5crorefromcybersecuritysolutions.Infact,thecybersecuritycategorywitnessed47percentCAGR(compoundedannualgrowthrate)duringFY19-21.
Atpresent,Inspiraisserving235financialinstitutionsandenterprisesacrosssectorsandahugechunkofthecompany'srevenuecomesfromthefinancialsector,Kanodiasaid.
"Thecompany'sgrowthstrategiesincludedevelopingnewsolutions,expandingourclientbase,andexpandingourpresencegeographically,"headded.
AccordingtoJain,thecompanyhasseentremendousgrowthinlastone-and-a-halfyearsandduringthisperiod,itsworkforcestrengthsurgedthreetimestoatotalof1,100.
Talkingaboutthecybercrimeinthecountry,hesaidthatIndiaisthesecond-mosttargetnationforcyberattacksintheworldaftertheUS.Infact,companiesacrossthesizesandsectorsarebeingtargetedhere.
Moreover,tofightthemenaceofcybercrimes,companiesareearmarkingaseparatebudgetforcybersecuritysolutions,headded.
Tostayaheadoftime,Inspira'sdigitalsecurityoperationcentreinNaviMumbaiworks247andconstantlymonitorscybersecurityattackshappeningacrosstheworld.Thisconstantmonitoringhelpsusinservingourclientsbetter,Jainsaid.
Throughitswiderangeofofferingsacrossmultipleverticalsandgeographies,thecompanypossesscapabilitiesspanningthedigitallifecycleofservicesrangingfromconsultation,architecture,solutiondesignandimplementation,tomonitoringandprovidingmanagedservices.
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