PE firms eye exit as Trimax IT Infrastructure files for IPO

According to a draft red herring prospectus filed with the Securities & Exchange Board of India (SEBI), the company will issue 6 million new shares and sell 7 million existing shares.

ABPE currently owns 9.50% of Trimax, having invested INR1 billion ($19.5 million at the time) in April 2012. It will sell 1.99 million of its 4 million shares in the offering. Banyan Tree took a 9.06% stake in 2009 and intends to offload 1.89 million of its 3.8 million shares.

Two entities controlled by Zephyr Peacock India - ZP II Trimax and ZP India Advisory, which own 5.94% and 1.99%, respectively - will also trim their stakes. A third, Zephyr Peacock Fund III, will hold on to its 1.69% stake.

Trimax will use the proceeds from the fresh issue for procurement of hardware, software and other equipment. The company provides a range of IT infrastructure services and turnkey solutions (coupled with on-site support across India), data center and cloud computing services.

SBI Capital Markets and Anand Rathi Advisors are the book runners and lead managers for the issue.

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• Topics
• South Asia
• Exits
• IPO
• India
• Aditya Birla Capital Advisors
• Zephyr Peacock Management
• Banyan Tree Growth Capital
• Exit