Prisma Global launches India's 1st AI solutions company bond 200cr
Business
Prisma Global, a Mumbai-based AI firm, is the first debt offering in India by an AI solutions company.
Its ₹50 crore bond offer (with a 10% interest rate for two years) sold out in just an hour on Monday.
Demand was so high; it increased the total to ₹200 crore using a greenshoe option.
Investors cite Prisma's crime prevention AI
Investors rushed in because Prisma Global is known for using AI to help government agencies, police, and airports prevent crime.
Ankit Gupta, founder, BondsIndia, the arranger for Prisma Global's bond offering, said, "The strong bidding response reflects robust investor confidence in the issuer and the transaction."
The company now plans to expand further by teaming up with international partners.