New Delhi, July 9 -- A new listing could soon hit the GIFT City exchanges, with CloudThat, an enterprise cloud trainer and consultant, preparing to raise about $8 million through an initial public offering (IPO).

Bengaluru-based CloudThat is expected to file its draft red herring prospectus (DRHP) over the next few months, a company official confirmed.

The planned issue comes after XED, which was set to become the first company to list on the GIFT City exchanges, withdrew its $12 million IPO due to weak investor participation during the Israel-Iran conflict. XED plans to revisit the markets at a more opportune time. Currently, there are no companies listed on the GIFT City exchanges.

US based Tryfacta had, in June, filed its DRHP with ...