Course5 Intelligence files documents with Sebi to raise Rs 600 cr via IPO

The IPO comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an Offer For Sale of equity shares aggregating up to Rs 300 cr.

Pure-play data analytics and insights compay Course5 Intelligence Ltd has filed preliminary documents with markets regulator Sebi to raise Rs 600 crore through an initial share-sale.

The initial public offering (IPO) comprises a fresh issue of equity shares aggregating up to Rs 300 crore and an Offer For Sale of equity shares aggregating up to Rs 300 crore, according to the draft red herring prospectus (DRHP).

As part of the OFS, promoter 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 pre-IPO placement aggregating up to Rs 60 crore. If such placement is completed, the fresh issue size will be reduced.

The company proposes to utilise the proceeds of the fresh issue towards funding inorganic growth initiatives, working capital requirements, supporting product and IP initiatives, expansion of geographical footprint and for general corporate purposes.

The focus of Course5 is to help organisations 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 omnichannel customer journey.

Its clients include Lenovo, Colgate-Palmolive Company, American Regent, Inc (a member of the Daiichi Sanyo Group) and National Bank of Fujairah PJSC.

The draft papers filing comes after the successful IPO of Latent View Analytics in 2021.

Axis Capital and JM Financial are the book running lead managers to the issue.