Course5 Intelligence, one of the leading pure-play data analytics and insights companies among the entities incorporated in India, is proposing an Initial Public Offering (IPO) of equity shares of the face value of ₹ 5 each (“Equity Shares”) aggregating up to ₹ 600 crores (“Offer”).
The Offer comprises a fresh issue of Equity Shares aggregating up to ₹ 300 crores (the “Fresh Issue”) and an Offer For Sale (OFS) of Equity Shares aggregating up to ₹ 300 crores.
The OFS comprises Equity Shares by Ashwin Ramesh Mittal aggregating up to ₹ 32.5 crores; Equity Shares by Riddhymic Technologies Private Limited aggregating up to ₹ 40 crores; Equity Shares by Riddhymic Technoserve LLP aggregating up to ₹ 40 crores; Equity Shares by AM Family Private Trust aggregating up to ₹ 112.5 crores (the “Promoter Selling Shareholders”) and Equity Shares by Kumar Kantilal Mehta aggregating up to ₹ 75 crores (the “Other Selling Shareholder”, and together with the Promoter Selling Shareholders, the “Selling Shareholders”) (the “Offer For Sale”).
The company is promoted by Ashwin Ramesh Mittal, Riddhymic Technologies Private Limited, Riddhymic Technoserve LLP, and AM Family Private Trust.
The company may consider a pre-IPO placement aggregating up to Rs 60 crore before the filing of the Red Herring Prospectus with the ROC. If such placement is completed, the fresh issue size will be reduced to the extent of such pre-IPO placement.
The Company proposes to utilize the Net Proceeds of the Fresh Issue towards funding: Inorganic growth initiatives (Rs. 75 crores); Working capital requirements of the Company (Rs. 70 crores); Product and IP initiatives (Rs. 50 crores); Expansion of geographical footprint (Rs. 30 crores); and general corporate purposes.
Axis Capital and JM Financial are the book-running lead managers (BRLMs) to the IPO.