Course5 Intelligence has filed draft red herring prospectus with the capital markets regulator SEBI, to raise funds through initial public offering (IPO). The company to mop up Rs 600 crore via public offer that consists of fresh issuance of shares worth Rs 300 crore and an offer for sale of Rs 300 crore by promoters which comprises of shares worth Rs 32.5 crore by Ashwin Ramesh Mittal, while Riddhymic Technologies and Riddhymic Technoserve LLP will sell shares worth Rs 40 crore each via OFS. Am Family Private Trsust will offload its shares of Rs. 112.5 crore an also Kumar Kantilal Mehta will sell his shares of Rs. 75 crores. The company may also raise Rs 60 crore in a pre-IPO placement, before filing the red herring prospectus with the Registrar of Companies. They intend to utilise its proceeds for inorganic growth initiatives, working capital requirements, product and IP initiatives, and expansion of geographical footprint, besides general corporate purposes.
The company clocked significant growth in profit at Rs 29.72 crore in FY21 against Rs 16.93 crore in previous year, but revenue during the same period declined to Rs 247.19 crore from Rs 255.84 crore.
Profit for the six months period ended September 2021 stood at Rs 26.82 crore, increasing sharply compared to Rs 12.79 crore in same period last year, while revenue, too, jumped to Rs 143.67 crore from Rs 112.22 crore in the same period. Axis Capital and JM Financial are appointed as book running lead managers to the issue, while Link In time India is the registrar for the offer.
They had significant expertise in analytics for digital, direct to consumer (D2C) and omnichannel models, which includes areas such as customer, supply chain, enterprise AI and social media analytics and insights. It also specializes in marketing analytics and insights, which includes dynamic customer segmentation, brand measurement and analytics, market mix optimization, AI powered research insights and market and competitive intelligence.