Affle India's board has approved fund raising of just over a thousand crores. There will be an extraordinary general meeting on March 24 to get shareholder approval for this fund raising.

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On fund raising, Anuj Khanna Sohum, Chairman & Managing Director and CEO at Affle India said, “Affle has 16 years of history of being a consumer platform global company, 50 percent of our focus is in India and another 50 percent is in global emerging markets and international markets.”

“We in our annual report had already given a clear vision that Affle 2.0 for this decade 2020 to 2030 aims to reach over 10 billion connected device globally. To achieve this kind of massive growth trajectory and growth plan, we have historically shown that Affle has been super capital efficient. So this is really about growth, this is about investing into our vision and we are supper bullish about our abilities going forward.”

On promoter stake, Sohum said, “We are still looking at having close to 57-58 percent of the effective ownership in the listed company and at the holding company level the management already owns or is clearly on the path of 75 percent control in ownership at the holding company.”

He further added, “We are long term believers and it is a massive growth story and with are in it for the very long term.”

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(Edited by : Ajay Vaishnav)

First Published:Mar 2, 2021 11:04 AM IST