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US-based IT and staffing firm Tryfacta is gearing up to file draft papers for a $100–150 million IPO by the end of this month, suggests reports. This will be one of the first few listings planned on GIFT City’s international exchanges.
GIFT City’s international exchanges let companies raise funds and list shares in foreign currencies from India.
Tryfacta is headquartered in California & provides IT services, tech consulting, and payroll solutions to US government and institutional clients.
The deets: Tryfacta will list on either India INX or NSE IX, the two exchanges operating in GIFT City.
The IPO will be managed by Yoki Financial Services, the investment banking arm of Mefcom Capital.
Notably, the only other company to file for a GIFT City IPO so far is Mumbai-based XED, which did so in August.
The company has major contracts, including a $43 billion project with the US Defense Health Agency and a $100 million deal with the US Department of Veterans Affairs.
The IPO planning shows international firms are ready to list and raise capital from Indian soil. If successful, it could open the door for more cross-border tech and service firms to tap Indian investors while staying globally connected.
