IPO-Bound Tryfacta Bags NIH Healthcare Staffing Contract

New Delhi: US-based workforce and technology solutions provider Tryfacta Inc on Wednesday said it has secured a healthcare staffing contract from the National Institutes of Health (NIH) in the United States.

The company, which recently filed draft papers for a proposed USD 100-150 million IPO at GIFT City, Gujarat, said it will provide healthcare staffing services in support of NIH operations in Bethesda, Maryland.

The operations under the contract are scheduled to commence on July 7.

Under the award, Tryfacta will recruit, credential and deploy qualified clinical and allied health professionals across a wide range of disciplines, including certified nurse assistants, registered nurses across multiple specialties, patient care coordinators, surgical and interventional radiology technicians, and dental healthcare professionals, according to a statement.

Last week, the company filed draft papers with the International Financial Services Centres Authority (IFSCA) for a proposed USD 100-150 million IPO on the exchanges at GIFT City.

Upon listing, Tryfacta is expected to become the first US-headquartered firm to list its equity shares in India through the GIFT City framework.

According to the draft offer document, the proposed IPO comprises a fresh issue of up to 13.3 million equity shares and an Offer-for-Sale of up to 3 million equity shares by selling shareholder Ratika Tyagi.

Proceeds from the fresh issue will be utilised towards repayment or pre-payment of working capital facilities, funding inorganic growth through acquisitions and strategic investments, and general corporate purposes, according to the draft papers.

The equity shares are proposed to be listed on NSE IFSC Ltd and India International Exchange (India INX).

(Disclaimer: Except for the headline, this article has not been edited by HDFC Sky editorial team and is auto-generated from PTI feed.)