Course5 Intelligence, a data analytics firm, has filed a draft red herring prospectus with SEBI, the capital markets regulator, in order to acquire money via an initial public offering (IPO). The business plans to raise Rs 600 crore via a public offering that includes a new issue of shares worth Rs 300 crore and a promoter offer for sale of Rs 300 crore.
Ashwin Ramesh Mittal will sell shares worth Rs 32.5 crore via the offer for sale, while Riddhymic Technoserve LLP and Riddhymic Technologies would each sell shares worth Rs 40 crore through the OFS. AM Family Private Trust will also sell shares worth Rs 112.5 crore, while Kumar Kantilal Mehta will sell shares worth Rs 75 crore via an offer for sale.
Before filing the red herring prospectus with the Registrar of Companies, Course5 Intelligence may raise Rs 60 crore in a pre-IPO placement. If the pre-IPO placement is successful, the amount of the new issue will be decreased to the extent of the pre-IPO placement.
In addition to general business reasons, the firm plans to use the proceeds from the new issuance for inorganic growth activities, working capital needs, product and IP initiatives, and global development.
Course5 is a low-asset business, hence it is not obliged to spend much on fixed assets
The company’s profit increased significantly to Rs 29.72 crore in FY21 from Rs 16.93 crore the previous year, although sales fell to Rs 247.19 crore from Rs 255.84 crore over the same time. Profit for the six months ended September 2021 was Rs 26.82 crore, up substantially from Rs 12.79 crore in the same period the previous year, while sales also increased sharply to Rs 143.67 crore from Rs 112.22 crore.
Course5 has extensive experience in digital, direct-to-consumer (D2C), and omnichannel analytics, including customer, supply chain, corporate AI, and social media analytics and insights. It also offers marketing analytics and insights, such as dynamic consumer segmentation, brand measurement and analytics, market mix optimization, AI-powered research findings, and market and competitor intelligence.
It has also established significant domain experience in the sectors of technology, media, and telecommunications (TMT), life sciences/pharmaceuticals, consumer packaged goods (CPG), and retail. The issue’s book running lead managers are JM Financial and Axis Capital, with Link Intime India serving as the registrar.
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