Course5 Intelligence files DRHP with SEBI, to raise Rs 600 cr via IPO

Pure-play data analytics and insights company 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 Course5 Intelligence 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 Intelligence 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.

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Course5 Intelligence is an independent digital analytics and marketing and customer analytics company.

Course5 has 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.

Course5 Intelligence has deep domain expertise in the technology, media and telecom, life sciences/ pharmaceuticals and consumer packaged goods and retail verticals. However, the company also works in other industries such as financial services, utilities, automotive and industrial goods, and provide analytics and insights services in other areas such as risk, finance and operations in certain cases to clients.

The company has set up Course5 AI Labs in Bangalore and Toronto, that are AI-led innovation and research and development centres, which aims to create a broad base of deep AI capabilities that supports the creation of innovative products and platforms, and comprises a team of 29 dedicated AI scientists

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

Course5 is an asset-light organization and is not required to make substantial investments into fixed assets.

The Course5 Intelligence 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.

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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.