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SSBA Innovations, which runs tax portal TaxBuddy, has filed draft red herring prospectus (DRHP) with the market regulator Securities and Exchange Board of India (SEBI) to raise up to Rs 105 crore through a Initial Public Offering (IPO).

Proceeds of the issue to the tune of Rs 65.45 crore will be used for funding user acquisition and business development, Rs 15.22 crore for technological development and balance amount towards general corporate purpose. Systematix Corporate Services has been appointed to manage the company’s IPO. The equity shares of the company will be listed on the BSE and NSE.

The company is a technology-driven financial solutions and services platform focused on providing financial solutions in the area of tax planning and filing, personal investment advisory and wealth building to individuals, HUF, professionals, firms, and companies registered on its platforms.