NewsIPOTryfacta Inc Eyes $100-150 Million IPO at GIFT City, Expanding Global IT Services FootprintTryfacta Inc Eyes $100-150 Million IPO at GIFT City, Expanding Global IT Services Footprint
US-based IT services provider Tryfacta Inc is preparing to file draft papers for an Initial Public Offering (IPO) at Gujarat International Finance Tec-City (GIFT City) exchanges. The company aims to raise between $100 million and $150 million. Tryfacta, founded in 1996, specializes in IT services, technology solutions, staffing, and payrolling services for US government and institutional clients. The company has secured high-value contracts with US government agencies, including a $43 billion contract with the US Defence Health Agency. Tryfacta has grown from 205 employees in 2020 to over 4,000 in 2024, with active contracts increasing from 10 to over 150 in the same period. Yoki Financial Services is the lead manager for the IPO, with draft papers expected to be filed by the end of the month.
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US-based IT services provider Tryfacta Inc is gearing up for a significant move in the Indian financial landscape, with plans to file draft papers for its Initial Public Offering (IPO) at Gujarat International Finance Tec-City (GIFT City) exchanges by the end of this month. The California-headquartered company aims to raise between $100 million and $150 million through this listing.
Company Overview
Tryfacta Inc, co-founded in 1996 by Ratika and Adesh Kumar Tyagi, has established itself as a prominent player in the IT services sector. The company specializes in providing IT services, technology solutions, staffing, and payrolling services to government and institutional clients across the United States.
Key Sectors and Contracts
Tryfacta serves a diverse range of sectors, including:
- Healthcare
- Information Technology
- Engineering
- Education
- Professional Services
The company has secured several high-value contracts with notable US government agencies and institutions:
| Client | Contract Value |
|---|---|
| US Defence Health Agency | $43.00 billion |
| US Defence Logistics Agency | $11.90 billion |
| US Department of Veterans Affairs | $100.00 million |
| State of Florida | $143.00 million |
| Baltimore County Public Schools | $55.00 million |
Growth Trajectory
Tryfacta has demonstrated remarkable growth in recent years:
| Metric | 2020 | 2024 |
|---|---|---|
| Workforce | 205 | 4,000+ |
| Active Contracts | 10 | 150+ |
Most of Tryfacta's contracts span five to ten years, indicating long-term stability and recurring revenue streams.
IPO Details
- Listing Venue: GIFT City exchanges
- Target Raise: $100-150 million
- Lead Manager: Yoki Financial Services
- Timeline: Draft papers to be filed by end of the month
Market Context
Tryfacta's IPO plans come at a time when GIFT City is gaining traction as an international financial services center. Currently, XED is the only other company that has filed for an IPO at GIFT City exchanges, having submitted its draft papers in August.
This move by Tryfacta not only highlights the company's growth ambitions but also underscores the increasing attractiveness of GIFT City as a listing destination for international companies. The successful execution of this IPO could pave the way for more foreign entities to consider GIFT City for their capital-raising activities, potentially boosting India's position in the global financial landscape.
As Tryfacta prepares to take this significant step, investors and market watchers will be keen to see how this IT services company positions itself in the public market and leverages the unique advantages offered by GIFT City.
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