SSBA Innovations Limited files DRHP with SEBI. SSBA Inovations Limited (‘TaxBuddy’) has filed its Draft Red Herring Prospectus (“DRHP”) with market regulator Securities and Exchange Board of India (“SEBI”).
The Company is a technology-driven financial solutions and services platform focusing on providing end-to-end financial solutions in the area of tax planning and filing, personal investment advisory and wealth building to individuals, HUF, professionals, firms, and companies registered on our platforms (jointly referred to as the “Users”) in India. Over the years, it has transformed from being an online tax filing platform to a one-stop-shop for end-to-end Tax Solutions and Financial Solutions provider at an affordable cost.
The company plans to raise funds via initial public offerings through fresh issue of equity share capital face value of Rs. 10 each aggregating up to Rs. 105 Crore through fresh issue.
The company proposes to utilize the net proceeds towards funding (i) User acquisition and business development estimated to be Rs. 65.45 Crores (ii) Technological development estimated to be Rs. 15.22 crores and balance amount towards general corporate purpose.
Systematix Corporate Services Limited is the Book Running Lead Managers