Shares of Affle India rallied 14 percent intraday to hit a record high of Rs 1,385 on October 23 after the company filed 14 technology patents in Singapore and the US.
The stock, which listed in August, has surged 86 percent from its issue price of Rs 745. It was quoting at Rs 1,353.90, up Rs 136.90, or 11.25 percent on the BSE at 1227 hours IST.
The technology company has filed four new patent applications in Singapore in the areas of conversational marketing & vernacular and voice-based intelligence.
The management has decided to expand the jurisdiction of its 10 patents earlier filed in India by filing in the patent office of US as well, Affle said in a BSE filing.
Commenting on strengthening its IP portfolio, Anuj Khanna Sohum, the Chairman, MD and CEO said, “Vernacular, voice and video will drive the next level of adoption for smart connected devices across emerging markets. With over 100 patentable claims and a strong patent portfolio, we have added credibility and defensibility to our global IP strategy.”
With these filings, Affle has now built robust patent portfolio with 18 patents filed in India, the US and Singapore. It has three patents granted in the areas of Consumer Acceptable Advertising in the US.
"15 patents are pending, out of which one is pending in the US covering partner pixelling for user identification; 10 pending in US and India and covers various algorithms of digital fraud detection; and four pending in Singapore in areas of conversational marketing and vernacular & voice-based intelligence," Affle said.
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