ANI PR Wire
14 Sep 2022, 15:00 GMT+10
Mumbai (Maharashtra) [India], September 14 (ANI/PNN): Technology company, Varanium Cloud Ltd primarily focused on providing services surrounding the digital audio, video, and financial blockchain (for PayFac) based streaming services is scheduled to open its Rs 36.6 crore public issue for subscription on September 16. The company has received approval to launch its public issue on SME Emerge Platform of National Stock Exchange. Proceeds of the public issue will be utilised to fund company's expansion plans including setting up Containerized Edge Data Centres, Rollout of three Edmission flagship Digital Learning Centres; and General Corporate Purpose. First Overseas Capital Ltd is the lead manager of the issue. Public issue will close on September 20.
The initial public offering will comprise a fresh issue of 30 lakh equity shares of face value Rs 10 each at a price of Rs 122 per share (including a premium of Rs 112 per equity share) aggregating Rs 36.60 crore. Minimum lot size for the application is 1,000 shares which translates in to Rs 1.22 lakh per application. Retail allocation for the IPO is 50 per cent. Market maker reservation portion is 4.86 lakh equity shares - 16.2 per cent of the issue size.
Jaya Chandrakant Gogri, wife of Chandrakant Gogri and also one of the promoters of Aarti Industries holds 2.84 per cent stake in the company as on date of filing prospectus. In the pre-ipo placement, Jaya Chandrakant Gogri has bought 2 lakh shares at the price of Rs. 99 per share.
Harshawardhan Sabale, Managing Director, Varanium Cloud Ltd said, "We are a fast-growing Indian technology company that is focused on providing services surrounding digital audio, video and financial blockchain (for PayFac) based streaming services. Varanium Cloud identifies existing limitations in small communities and finds digital solutions to solve them. Our aim is to mitigate technological gaps by introducing new-age digital tools that create equal opportunities. Company has a vision to create possibilities & find solutions through technology. Breaking digital barriers for non-urban cities. We are confident that after the proposed public issue, we will be able to execute our growth strategy in a manner that creates exponential value for all stakeholders."
For the FY21-22 company reported total revenue of Rs. 35.35 crore, EBITDA of Rs. 12.04 crore and Net Profit of Rs. 8.40 crore. Total net worth of the company as on March 2022 stands at Rs. 15.12 crore and Book Value per share at Rs. 23.81 per share. Shares of the company will be listed on NSE Emerge platform. In FY22, Domestic sales stands at Rs. 4.58 crore while Export Sales at Rs. 30.77 crore. Voice over Internet Protocol (VoIP) contributed Rs. 30.77 crore in the total sales in FY22.
Established in 2017, Incorporated in Dec 2017, Varanium Cloud Limited is a technology company focused on providing services surrounding the digital audio, video, and financial blockchain (for PayFac) based streaming services. The Company operates in the following key verticals:
1) Provision of digital audio and video content streaming services to various content owners and telecom operators in India and internationally on a SaaS (Software As A Service) model such as Voice & Video over Internet Protocol solutions (VoIP) in the B2B and B2C segments;
2) Online payment facilitation services (PayFac);
3) Provision of low bandwidth digital education content platforms (EdTech) with complete Learning Management Systems (LMS) focused on non-urban areas under the Edmission brand;
4) Provision of information technology-related services to startups and SMEs to help them transition their business to digital platforms and manage the relevant infrastructure on an IaaS (Infrastructure As A Service) model.
Customers of the company range from business owners, telecom providers, education institutions to end consumers in some cases. For our phy-gital educational platform 'Edmission', customers include educational institutions - private & government organisations. JumpTalk customers include resellers of mobile services as well as end consumers who wish to avail international calling facilities to India. Lastly, our offering of Infrastructure as a Service, payment facilitation services and e-commerce as a service, are all B2B (business to business) in nature and comprises of small to large businesses across industries who want to avail of our services to enhance their offering to the end consumers.
This story has been provided by PNN. ANI will not be responsible in any way for the content in this article. (ANI/PNN)
Get a daily dose of Nepal National news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Nepal National.
More InformationNEW YORK CITY, New York: With just weeks to spare before a potential government default, U.S. lawmakers passed a sweeping tax and spending...
PARIS, France: Fast-fashion giant Shein has been fined 40 million euros by France's antitrust authority over deceptive discount practices...
PALO ALTO/TEL AVIV: The battle for top AI talent has claimed another high-profile casualty—this time at Safe Superintelligence (SSI),...
FRANKLIN, Tennessee: Hundreds of thousands of Nissan and Infiniti vehicles are being recalled across the United States due to a potential...
REDMOND, Washington: Microsoft is the latest tech giant to announce significant job cuts, as the financial strain of building next-generation...
LONDON UK - U.S. stock markets were closed on Friday for Independence Day. Global Forex Markets Wrap Up Friday with Greeback Comeback...
WASHINGTON, D.C.: President Donald Trump says the United States could soon reach a trade deal with India. He believes this deal would...
Nearly three months after a devastating earthquake struck Myanmar, the country remains trapped in a deepening crisis, compounded by...
The groups combined GDP is $20 trillion greater than that of the Western bloc, the Russian president has said BRICS has already outstripped...
The summit declaration denounced the recent terrorist attack in Kashmir that triggered a military escalation between India and Pakistan...
Prayagraj (Uttar Pradesh) [India], July 6 (ANI): Former Union Cabinet Minister and senior BJP leader Mukhtar Abbas Naqvi on Sunday...
Rio de Janeiro [Brazil], July 6 (ANI): Prime Minister Narendra Modi, during the 17th BRICS Summit on Sunday, asserted that condemning...