NEW DELHI: The initial public offer (IPO) by IT consulting services firm Tranway Technologies kicked off on Monday.The company intends to raise Rs 4.2 crore by offering 42,40,000 fresh shares with a face value of Rs 10 each.Founded in 2015, Tranway Technologies is a provider of IT consulting services and emerging technology solutions. Besides, the company provides product development & support and IT & non-IT staffing solutions to enterprises.The company reported Rs 5 crore revenue in FY19.“With this IPO, we aim to scale up the business, expand our team and market presence. I am confident that the proceeds from the issue will help us achieve these objectives,” Founder, and MD, Bharat said in a media release.Finshore Management Services has been appointed as the lead manager for the issue.The issue will close on Wednesday.

Source: Economic Times January 27, 2020 14:15 UTC