Lytus Technologies Holdings, an Indian provider of content streaming and telecasting services, filed on Thursday with the SEC to raise up to $30 million in an initial public offering.
The Mumbai, India-based company plans to raise $30 million by offering 2.7 million shares at a price range of $10 to $12. At the midpoint of the proposed range, Lytus Technologies Holdings would command a market value of $406 million.
Lytus Technologies is a platform services company primarily providing content streaming and telecasting services, with over 8 million active users located across India. Its business also covers telemedicine services with the assistance of local Health Centers. Through its platform, customers are connected via customer premises equipment devices and set top boxes. The company is primarily focused on India, but expects to grow its international presence in regions such as Africa, Indonesia, the UK, and the US.
Lytus Technologies Holdings was founded in 2020 and booked $45 million in revenue for the period from inception through December 31, 2020. It plans to list on the Nasdaq under the symbol LYT. Aegis Capital Corp. is the sole bookrunner on the deal.
