Lytus Technologies Holdings is a company that provides clients with content streaming and telecasting services platform. The company recently went public and has made the headlines in business news circles with its ups and downs. It's an Asian company based in Mumbai, India. If you're not yet familiar with the enterprise, here are twenty things you probably didn't know about lytus Technologies Holdings to bring you up to speed.
1. Lytus Technologies Holdings is an established company
Crunchbase confirms that Lytus Technologies Holdings is not a new startup. The business launched its operations in 2015. It's been in operation for seven years. The headquarters is in Mumbai, Maharashtra, India. The legal name is Lytus Technologies Ltd., but it is commonly known as Lytus Technologies Holdings.
2. Lytus Technologies serves multiple industries
Lytus Technologies provides services for streaming and telecasting for the telemedicine industries. It helps to link local health centers together. The platforms also link companies in other industries together with a large customer base and presence in the market with a diversified product portfolio to meet the needs of each customer. It serves businesses that require streaming and telecasting services to conduct conference video calls and other types of meetings and presentations. It's an excellent time to be in the business with many companies moving toward teleconferencing versus in-person meetings.
3. Lytus Technologies publicly-traded enterprise
Lytus Technologies holdings went public with its initial public offering on June 15, 2022. It's listed on the Nasdaq stock exchange under the ticker symbol LYT. The opening price of the stock at IPO was $475 per share for common shares. Lytus Technologies raised $12.4 million lat its IPO. It's a stock that is open to purchase by the public if you're looking at investing in the streaming and telecasting industry interests.
4. Lytus Technologies Holdings is a growing company
IPO Scoop reports that Lytus Technologies Holdings is still in the process of growing its platform services. Its primary products are content streaming and telecasting services. With seven years to its credit, it's grown considerably, but there is still much more work to do to meet the rising demands for the products and services. It's not even scratching the service in the market, but it's come a long way. Lytus Technologies Holdings provides more than eight million users throughout India with telecasting and content streaming services.
5. Lytus Technologies Holdings is incorporated in the British Virgin Islands
Lytus Technologies observed a strategy that allows it to maximize its profits while reducing the tax liability of the business. It organized and incorporated the company in the British Virgin Islands. The reason for the action is that taxes are lower for companies that incorporate in this territory. It's a common practice for startups across the globe.
6. Lytus Technologies Holdings is dedicated to changing the world around them
Lytus Technologies has a market base that has expanded and grown to place it in a position to further develop its portfolio of offerings. The focus of the organization is to adopt, then implement technologies that take it from a conventional service provider to a company that changes the landscape of the industry. It may seem like a lofty goal but the company is on a solid trajectory for accomplishing its stated goals.
7. Lytus Technologies Holdings is ideally postured in the market
Lytus Technologies Holdings is in the right place at the right time getting in on the current e-commerce boom that is happening in India. The leaders of Lytus intend to capitalize on the demand for services through the acquisition of a company called Global Health Sciences Inc. GHSI is a pioneer in telemedicine management in the United States. Lytus acquired the company to help them create a business model that offers three benefits. Its subsidiary will help them create a solid and sustainable business model, achieves rapid growth from its prospects, and achieve profitability.
8. Lytus Technologies Holdings has a high overhead
Growth and expansion come at a high cost. Lytus Technologies Holdings' fiscal report for the year ending March 31, 2021, reveals that it's paying out a high percentage of its revenue in overhead and operational costs. The figures show that Lytus brought in revenue of $16.55 million. The net income was $2.03 million, which is evidence that it's making a profit but not by a large margin.
9. Lytus Technologies Holdings has a staff of experts
The staff and leadership at Lytus Technologies holdings bear substantial expertise in the telecasting and content streaming industries. Leaders astutely gather information about the preferences and needs of their customers to create solutions that address the needs specifically. They've analyzed the data to serve their customers in ways that meet the criteria for efficiency and comprehensiveness. Lytus' leadership has extensive knowledge about the Indian markets, which helps them to determine the most effective strategic plans to provide consumers with products and services that meet their needs. Lytus Technologies is not interested in becoming a cookie-cutter company that provides generic services. They're stretching their boundaries to provide value-added products and services that go a step beyond.
10. Lytus Technologies holdings downsized its IPO
Lytus Technologies Holdings filed its stock and warrants offering on March 28, 2022, with an SEC filing of an F-2/A. It signaled the intention of the company to go public on March 31, 2021. The original contract set the terms for offering 2.72 million shares at a starting price between $10 to $12 per share. On February 9, 2022, they revamped the terms, reducing the price range from $6.30 to $6.90 per share. On March 28, 2022, Lytus reduced the price per share again to the range of $4.75 to $6.75 per share. They restructured the terms on multiple occasions before going public.
11. Lytus Technologies Holdings is a small company
We learned that Lytus Technologies Holdings is a small company with less than fifty employees. Lytus employs just 43 workers. It's phenomenal that such a small group serves a clientele that numbers more than eight million. The feat speaks to the talent, expertise, and efficiency of all members of its workforce.
12. Lytus Technologies Holdings is a versatile provider
Lytus explains some of the products and services that it offers clients. The offerings are diverse and continue to expand. The OTT Platform provides customers with global movies, documentaries, series, and streaming programs from around the world. there is a section of curated playlists for each subscriber on the topics of wellness, health, and lifestyle. Each subscriber may receive customized playlists based on their needs and preferences. Within the OTT Platform is Lytus Play. It offers exclusive programs for subscribers across multiple genres. Lytus Play centralizes content from across the globe, including some that are hard to find, in one convenient place. Users may also access interactive and On-Demand content in a personalized format that is based on behavior and health patterns.
13. Lytus Technologies connects clients with direct E-Doctor providers
Subscribers to Lytus Technologies Holdings telemedicine services gain access to E-Doctor services that are direct and one-on-one. The service also provides avenues for preventative healthcare and continuous monitoring devices. It partners with more than one hundred local health centers to allow them to operate and hold intelligent devices. The technologies that drive its telemedicine services are innovative and advanced.
14. Lytus Stream is for commercial and retail customers
One of the services Lytus Technologies Holdings offers is its Lytus Stream product. It is a subscription-based service that provides its customers with internet services and linear video services. It's available for customers in Allahabad, New Delhi, Calcutta, Hyderabad, and Mumbai, India. customers that subscribe to Lytus Stream may access over 450 channels in a choice of SD and HD. It's partnered with various providers to provide access to network channels. Some of the partners include Times Broadcasting, Star TV, Zee TV, Sony, and many others. such as Discovery, and channels that are dedicated to gamifying health and fitness podcasts, programs, and other content.
15. Lytus Health is the telemedicine product
Lytus Health is the name of the telemedicine service offered by Lytus Technologies Holdings. The goal of Lytus is to provide solutions for consumers in India and the United States to fill the gap in unmet medical needs. US Sub-Global Health Services provides customers with telemedicine solutions. It's based on a platform that features state-of-the-art technology, administered through the local health network. The service provides basic healthcare monitoring. The system features diagnostic examination and support services through software and smart devices.
16. The Lytus Platform is the first of its kind
Globe Newswire confirms that the services it offers for telemedicine in India and the US markets are the first of its kind. The market is expanding rapidly in both countries as the need for medical care exceeds the number of healthcare providers. It's the latest product and service offered by Lytus Technologies Holdings. The program maintains uniqueness in the market with a patient-centric system. It focuses on the needs of the patients with a network and solutions that allow healthcare workers to deliver services that comply with all regulations and conditions of the current healthcare industry and the telecommunications market. Lytus has partnered with numerous patient management suppliers in both countries to develop a sound system for remote patient management.
17. Lytus Technologies telemedicine solutions encompass a broad array of technologies
We learned that the GHSI platform uses a vast variety of technologies to provide unrivaled patient management and services. The telemedicine delivery platform employs medical monitoring devices, video capabilities, digital communication technologies, and data capturing technologies. This is just the tip of the iceberg. Other technologies involved in the process include machine learning, artificial intelligence, conversational computing, and intelligent robotic process automation.
18. Lytus Technologies telemedicine is operational in several US states
The GHSI platform is deployed in the United States with s125 medical physician practices in Texas, Florida, Illinois, and New Jersey. The innovative telemedicine system serves about 3,000 patients through the clinic and hospital networks. The overarching goal is to expand the services to include individual practices, physician networks, hospital networks, and university medical schools.
19. Dharmesh Pandya is the founder and CEO of Lytus
Mr. Dharmesh Pandya founded Lytus Technologies Holdings in 2015. He serves as the chief executive officer of the telecasting startup. The recent pandemic spurred increasing demand for telecasting services. Before 2020, Lytus Technologies focus on streaming services and other types of video telecasting. The company acquired GHSI to move its focus into the telemedicine industry as the pandemic was in full swing and the need for telemedicine services exploded. Patients were afraid to leave their homes and go into medical facilities because of the rising number of Covid-19 infections and the high death tolls from the insidious disease. Virtual medicine was no longer a convenient option or reserved for the indigent. It became a necessity for the preservation of public health in every country throughout the world. Since the acquisition of GHSI, Lytus has become an essential player in the telemedicine industry. It filled a gap that would still exist if it were not for telemedicine technology. Underserved populations still exist en masse.
20. Lytus is led by a veteran physician and leader
Mr. Pandya gets help from a small yet competent team of professionals. Each of them is an expert in their respective field. Dr. Sanjeiiv Geeta Chaudhry is the physician in charge of the telemedicine business of Lytus in India. He is a veteran in the health care industry. The doctor worked with large companies throughout his career and has established a reputation for driving growth and innovation. Dr. Chaudhry oversees the details of the existing business to help build the network infrastructure to support local health centers and diagnostic centers, supplying one for every 5,000 customers. Dr. Chaudhry is about taking care of the business of ensuring trained healthcare professionals populate the network for exceptional customer support and additional patient services not available through remote visits. Lytus Technologies Holdings is a company to keep your eye on. It's committed to continuing its evolution to expand and serve underserved populations with quality medical services via telemedicine.
Written by Allen Lee
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