Shares of mobile marketing firm Affle India will make a market debut on Thursday. The Rs 459-crore initial public offer (IPO) by Affle India, a company in which Microsoft is a minority shareholder, had received an overwhelming response last week, with the issue getting subscribed a whopping 86.48 times. 
The quota limit for QIBs was subscribed 55.31 times, NII 198.69 times and retail 10.94 times. The issue had received approximately 2,96,561 applications across all investor segments. At the issue price of 745 per share, the stock is available at a P/E multiple of 38.9 times FY19 consolidated EPS on Pro-forma basis. The company has no listed peers.
The technology company has two business segments, consumer platform, and enterprise platform. The consumer platform aims to enhance returns on marketing spend through delivering contextual mobile ads and reducing digital ad fraud. On the other hand, the enterprise platform primarily provides end-to-end solutions for enterprises to enhance their engagement with mobile users.
The global ad tech market is expected to grow at a compounded annual growth rate of 10 per cent to $54 billion during 2017-22. India’s ad tech market is seen growing at 39 per cent to $808 million over 2017-22.
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