Lytus Technologies Holdings
We are a growing platform services company primarily providing content streaming/telecasting services with over 8 million active users located all across India. Our scope of business also covers telemedicine services with local assistance through local Health Centers. Through our platform, our customers are well connected via customer premises equipment (“CPE”) devices/set top boxes (“STBs) and have access to multi-dimensional services, including telemedicine service. (Incorporated in the British Virgin Islands)
Our customer base and expansive market presence position us to widen our portfolio of offerings. We have been focused on adopting and implementing technologies that can change the landscape of being a conventional streaming services provider.
We intend to benefit from India’s e-commerce boom and the recent telemedicine regulation through the acquisition of Global Health Sciences, Inc. (“GHSI”). The management of GHSI has many years of pioneering experience of the management in telemedicine in the U.S., which we believe will help us create a profitable and sustainable business model with rapid growth prospects. We believe that our deep understanding and local expertise have enabled us to create solutions that address the needs and preferences of our consumers in the most comprehensive and efficient way. We possess extensive local knowledge of the markets in which we operate, which we consider to be a key component of our success.
Note: Lytus Technologies Holdings reports its results on a fiscal year that ends on March 31. For FY ended March 31, 2021, Lytus Technologies reported revenue of $16.55 million and net income of $2.03 million, according to the prospectus.
(Note: Lytus Technologies Holdings PTV. Ltd. downsized its IPO at pricing on June 14, 2022, to 2.61 million shares, down from 3.25 million shares in the prospectus, and priced its IPO at $4.75 – the bottom of its $4.75-to-$6.75 range – to raise $12.4 million. The deal’s structure was revised many times on its way to going public. In an F-1/A filing dated June 8, the company dropped the warrants from its IPO and changed underwriters to the team of Spartan Capital Securities and Pacific Century Securities, a switch from Aegis, which previously was the sole book-runner. The deal had been revamped as a stock-and-warrants offering – a unit offering – in a March 28, 2022, filing (an F-1/A) with the SEC. Lytus had filed to go public on March 31, 2021, with initial terms of 2.72 million shares at $10 to $12. The price range was cut by 40 percent to $6.30 to $6.90 on Feb. 9, 2022; the price range was cut again on March 28, 2022, to $4.75 to $6.75, along with the deal’s restructuring as a unit offering.)
|Industry:||Content streaming, telecasting & telemedicine|
|Address||601 Everest Grande, A Wing Mahakali Caves Road Andheri (East) Mumbai, India 400 093|
|View Prospectus:||Lytus Technologies Holdings|
|Revenues||$16.55 mil (last 12 months)|
|Net Income||$2.03 mil (last 12 months)|
|Price range||$4.75 - $4.75|
|Est. $ Volume||$12.4 mil|
|Manager / Joint Managers||Spartan Capital Securities/ Pacific Century Securities|
|Expected To Trade:||6/15/2022|
|Quiet Period Expiration Date:||Available only to Subscribers|
|Lock-Up Period Expiration Date:||Available only to Subscribers|
|SCOOP Rating||Available only to Subscribers|
|Rating Change||Available only to Subscribers|