Vertoz to raise Rs 20 crore through IPO

Vertoz, a programmatic advertising company, proposes to raise Rs 20 crore through an initial public offering (IPO).

The company recently filed documents with the regulator for the proposed Rs 20-crore IPO and is expecting approval this week.

As part of its expansion plans, the company is now focusing on the USA and UAE operations to increase overall revenues, a statement issued here said.

The company has appointed Amit Gandhi as director of sales, wherein he will also look into overseas operations.

Prior to joining Vertoz, Gandhi had worked at several companies, including Kratos Ads, Techzone, Geodesic Ltd, Onmobile Global and BSNL.

At Vertoz, Gandhi will ensure smooth functioning of the marketing and sales function of overseas operations, besides managing the P&L account. He will also look at other functions like publisher management and develop and maintain relations with media agencies and brands, the release said.

"This is another big move to add third senior position for our US market. This only reiterates our focus on this market. With this we are condiment of building sizable business in US and other related markets. I am confident that Gandhi will expand our business in US and other developed markets," Vertoz CEO Ashish Shah said.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)