Affle shares up 15.2% over issue price on NSE listing day

Affle, the digital marketing service, has said it will focus on omni-channel strategy

e4m by exchange4media Staff
Updated: Aug 8, 2019 7:32 PM

Mumbai-based digital marketing service Affle’s shares on the listing day rose 15.2 per cent on the NSE. Its issue price of Rs 745 went up to Rs 858, media reports said.

Its Initial Public Offering (IPO) was subscribed around 86.5 times on July 31, the last bidding day. Non-institutional investors were among those who made the highest demand.

Affle India has posted a three times jump in revenue to Rs 250 crore in 2018-19 as compared to the last financial year, Anuj Khanna Sohum, Chairman and Managing Director, was quoted as saying.

Affle expects to continue the growth by going for an omni-channel strategy, Sohum has told media networks. “All the customers that we work with are increasing their mobile marketing and digital spends at an average of 25-35 per cent CAGR every year,” he said.

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