Tryfacta, Inc., a US-based provider of workforce and technology solutions for government agencies, has filed its Draft Offer Document (DOD) with the International Financial Services Centres Authority (IFSCA) for a proposed initial public offering (IPO) on the exchanges at GIFT City, Gujarat.
If completed, the listing is expected to make Tryfacta the first US-headquartered company to list its equity shares in India through the GIFT City framework.
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 shareholder Ratika Tyagi. The issue will be denominated in US dollars and is proposed to be listed on NSE IFSC Limited (NSE IX) and India International Exchange (India INX).
Founded in 1996 and headquartered in Dublin, California, Tryfacta provides workforce solutions and professional services to Federal government and State, Local and Education (SLED) agencies across the United States. The company offers recruitment, staffing, payroll management, executive hiring and managed services across healthcare, information technology, administrative and professional services sectors.
The company has increasingly adopted technology-driven processes, including automated candidate screening, digital onboarding and workforce management platforms. As of December 31, 2025, Tryfacta had secured staffing and professional services contracts from more than 220 Federal and SLED clients across 41 US states.
Tryfacta also operates a Global Capability Centre (GCC) in Mohali, India, supporting recruitment, technology development, pre-sales and account management functions. Through its subsidiary, Tryfacta Global IFSC Private Limited, the company plans to expand international service offerings from GIFT City.
According to the offer document, proceeds from the fresh issue will be used for repayment or prepayment of working capital facilities, strategic acquisitions and investments, and general corporate purposes.
For Fiscal 2025, Tryfacta reported net revenue of USD 50.5 million, up from USD 37 million in Fiscal 2023, while gross profit increased to USD 6.6 million from USD 4.9 million during the same period.
YOKI Financial Services Private Limited is acting as the Book Running Lead Manager to the proposed issue.
