Ybrant Tech to raise $ 30 Mn via IPO

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Mumbai: Ybrant Technologies, a digital marketing company is all set to hit the capital market in the next two months to raise up to $30 million (Rs 120 crore) to boost its acquisition plans, said a company official.

"We expect to come out with our initial public offer (IPO) in January or February and we expect to raise $30 million," said Vijay Kancharla, CEO, Ybrant technologies

Ybrant Technologies has raised $20 million through a pre-IPO placement of 2.5 million shares to New York-based venture capitalist and hedge fund Sensar Capital.

Earlier this month, Ybrant announced the acquisition of Israel-based online media solutions company Oridian for $13 million, its fourth in the last two years.

"We are talking to companies in the U.S., UK and Australia in the affiliate marketing and search engine space. The takeovers could be of the size $5-10 million," said Kancharla.

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