Ybrant Digital to raise $100 mn via PE or QIP

Ybrant Digital, a Hyderabad-based provider of digital marketing solutions, is planning to raise $100 million (approximately Rs 520 crore) either through private equity or a qualified institutional placement (QIP) to fund its proposed acquisition of a content company that can bring Internet traffic into its network, according to chairman and managing director Suresh Reddy.

“We are looking at a couple of companies in the US and evaluating some in Europe. Discussions are at various stages. It (time line for the proposed buyout) all depends on striking the right deal and make it happen. We expect it to fall in place very quickly … sometime in the first half of the next financial year,” he told Business Standard.

The closely-held company has made eight acquisitions in the last five years, with the latest being Hyderabad-based, publicly-listed IT implementation and outsourcing services provider LGS Global Limited in August this year.Reddy said the Bombay Stock Exchange had already given in-principle approval for the scheme of amalgamation and was now they were awaiting a go-ahead from the respective general bodies under the supervision of the Andhra Pradesh High Court

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