Public Market

IPO

Data analytics player Course5 Intelligence files draft papers to raise Rs.600-Cr

MyBigPlunge  

Pure-play data analytics and insights compay Course5 Intelligence Ltd has filed preliminary documents with capital markets regulator Sebi to raise INR 600 crore through an initial share-sale. The initial public offering (IPO) comprises a fresh issue of equity shares aggregating INR 300 crore and an Offer for Sale (OfS) of equity shares aggregating INR 300 crore. The company proposes to use 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. Axis Capital and JM Financial are the book running lead managers to the issue. Course5 aims to help organisations drive digital transformation using artificial intelligence (AI), analytics and insights.