Mumbai: Data analytics and insights company Course5 Intelligence Limited has filed DRHP for an IPO. Course5 Intelligence is among the top pure-play data analytics and insights companies in India.
The company is proposing an initial public offering (IPO) of equity shares of the face value of ₹ 5 each (equity shares) aggregating up to ₹ 600 crore (offer).
Through the offer, the company aims to raise ₹600 cr via a fresh issue of equity shares worth up to ₹ 300 crore (fresh issue). Along with an offer for sale (OFS) of equity shares aggregating up to ₹ 300 crore.
Ashwin Ramesh Mittal, Riddhymic Technologies Private Limited, Riddhymic Technoserve LLP and AM Family Private Trust are the key promoters in the company.
Course5 Intelligence may consider a pre-IPO placement aggregating up to ₹ 60 crore prior to the filing of the Red Herring Prospectus with the ROC. If such placement is completed, the fresh issue size will be reduced to the extent of such pre-IPO placement.
It proposes to utilise the net proceeds of the fresh issue towards funding: inorganic growth initiatives ( ₹ 75 crore); working capital requirements of the company ( ₹ 70 crore); product and IP initiatives ( ₹ 50 crore); expansion of geographical footprint ( ₹ 30 crore); and general corporate purposes.
Axis Capital and JM Financial are the books running lead managers (BRLMs) to the IPO.
The focus of Course5 Intelligence is to help organisations drive digital transformation using artificial intelligence (AI), analytics and insights. It also has developed deep domain expertise in the technology, media and telecom (TMT), life sciences/ pharmaceuticals and consumer packaged goods (CPG) and retail verticals.
TMT, pharmaceuticals and CPG and retail verticals as per the Zinnov report are expected to have significant tailwinds post the COVID-19 pandemic, specifically in data and analytics. In addition, it 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.
Course5 Intelligence has set up Course5 AI Labs in Bangalore and Toronto for AI-led innovation and research and development with a 29 member team of AI scientists, as of September 30, 2021.
The overall analytics services market size was $34 billion in 2020, and it is expected to grow at a CAGR of 18.8% and reach $ 67.7 billion in 2024.
In 2020, the AI-led analytics services market was $6.9 billion (accounting for 20% of the overall analytics addressed market). The market is expected to touch $170 billion by 2024, at a CAGR of 25.4% (accounting for 25% of the overall analytics addressed market) according to the Zinnov report.
Course5 Intelligence has ‘Fortune Global 500 2021’ and ‘Forbes The Global 2000 2021’ companies such as amongst others, Lenovo, Colgate-Palmolive Company, American Regent, Inc. (a member of the Daiichi Sanyo Group) and National Bank of Fujairah PJSC.
With Lenovo, the company has been engaged for over 10 years and its services have evolved to advanced and IP/AI-led solutions. It is a Microsoft Partner Network Gold Competency member, which recognises the company’s technical capabilities in Microsoft products or technologies in the data analytics domain. In addition, Course5 is a member of Intel’s AI Builders program.
Along with a strong leadership team, the company has 902 full-time employees spread across 17 cities globally, as of September 30, 2021. The company trains its workforce through certain key training initiatives including Course5 University.