AI company Bonbloc Technologies files IPO papers with SEBI, to raise Rs 230 crore via fresh issue

Bonbloc Technologies IPO News

Bonbloc Technologies, which builds SaaS solutions using Blockchain, IoT, and Data Science, has filed preliminary papers with markets regulator Sebi to raise funds through an initial public offering (IPO).

The Chennai-based company's proposed maiden public offering is a combination of a fresh issue of shares worth Rs 230 crore and an offer for sale (OFS) of up to 3 crore shares by promoter Bonbloc Inc, according to the draft red herring prospectus (DRHP) filed on Saturday.

From the fresh issue, the company plans to allocate Rs 136 crore towards investment in the development of its products and platforms and Rs 13 crore for the purchase of laptops. Also, a portion of the proceeds will be used to fund inorganic growth through unidentified acquisitions, other strategic initiatives, and for general corporate purposes.

Incorporated in 2020, Bonbloc Technologies has rapidly evolved into an AI-native enterprise technology services and software solutions provider with global delivery capabilities. It focuses on offering industry-specific AI-software-as-a-service (AI-SaaS) solutions, digital transformation and modernization offerings, and intelligent data solutions.

The company's platforms integrate AI, machine learning (ML), blockchain, and IoT into a unified architecture, enabling real-time decision-making, predictive analytics, and automated responses in complex and regulated environments.

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As per the DRHP, listed peers of the company include Happiest Minds Technologies, Newgen Software Technologies, and Saksoft.

Last month, artificial intelligence company Fractal Analytics filed papers with Sebi to raise Rs 4,900 crore through its maiden public offering.

Pantomath Capital Advisors is the sole book-running lead manager to the offer.