Course5 Intelligence Ltd. Analytics data and insights from Pure-play has filed preliminary documents with market regulator Sebi to raise R600 crore through initial share sale.
An Initial Public Offering (IPO) consists of a new issuance of equity shares totaling up to RRs 300 crore and offer to sell equity shares totaling up to R300 crore, according to the draft Red Herring Prospectus (DRHP).
As part of the OFS, the promoting entities – Ashwin Ramesh Mittal, Riddhymic Technologies, Riddhymic Technoserve LLP and AM Family Private Trust – and shareholder Kumar Kantilal Mehta will offload their shares.
The company may consider a total public offering of up to R60 crores. If this placement is complete, the size of the new version will be reduced.
The company proposes to utilize the proceeds of the new issuance to fund inorganic growth initiatives, working capital requirements, support for product and intellectual property initiatives, expanding geographic footprint, and for general corporate purposes.
Course 5 focuses on helping organizations drive digital transformation using artificial intelligence (AI), analytics, and insights. It is an independent digital, marketing and customer analytics company, with a deep understanding of the multi-channel customer journey.
Its clients include Lenovo, Colgate-Palmolive Corporation, American Regent, Inc (a member of the Daiichi Sanyo Group), and National Bank of Fujairah PJSC.
The submission of draft papers follows the successful IPO of Latent View Analytics in 2021.
Axis Capital and JM Financial are the book managers that manage the issuance.
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