Data analytics firm Course5 Intelligence files draft papers to raise around Rs 600 crore through its initial public offering (IPO). The company has filed the preliminary documents with the Securities and Exchange Board of India for its IPO.
The draft red herring prospectus mentions that Course 5 Intelligence has planned to provide fresh equity shares of Rs 300 crores and an offer for sale of up to Rs 300 crores.
The company announced that Ashwin Ramesh Mittal, Riddhymic Technologies, Riddhymic Technoserve LLP, AM Family Private Trust, and shareholder Kumar Kantilal Mehta would sell their shares.
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The proceeds of the new issuance will be used to fund inorganic growth plans, working capital requirements, product and IP activities, global development, and general corporate reasons, according to the company.
Mumbai-based data analytics company Course5 Intelligence was founded in 2000. It has a vast customer base, including numerous industry-leading companies like Lenovo, Colgate-Palmolive Company, American Regent, Inc (a member of the Daiichi Sanyo Group), and National Bank of Fujairah PJSC.
The company helps businesses in their digital transformation process using various technologies, like artificial intelligence, analytics, and more. Course5 Intelligence is a digital, marketing, and customer analytics firm that specializes in understanding the omnichannel customer journey.
