Netcore Cloud, a Mumbai-based bootstrapped SaaS unicorn, has delayed its initial public offering on Indian stock exchanges due to unpredictable macroeconomic conditions and perceived “softness” in customer decision-making in the SaaS sector.
The IPO process for Netcore had initially begun in August of this year, with the listing scheduled for February or March of the following year. After speaking with bankers, the firm made the decision to focus on developing new products and enhancing its presence in the US market, where it had made a $100 million acquisition in March of this year, rather than revisiting its IPO possibilities by February of next year.
Software for marketing automation is offered by Netcore to D2C and e-commerce businesses.
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