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Pure-play data analytics and insights company Course5 Intelligence Ltd has filed preliminary documents with markets regulator Sebi to raise 600 crore through an initial share-sale.

The public issue comprises a fresh issue of equity shares aggregating up to 300 crore and an Offer For Sale (OFS) of Equity Shares aggregating up to 300 crore.

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 company may consider a pre-IPO placement aggregating up to 60 crore. If such placement is completed, the fresh issue size will be reduced to the extent of such pre-IPO placement.

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 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. The company has an employee base of 902 full-time employees spread across 17 cities globally, as of September 30, 2021.

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

The draft papers filing comes after the successful IPO of Latent View Analytics in 2021. Data and analytics is expected to account for 13.9% of the estimated total digital spend ($2.3 trillion) by 2024.

"Globally, there is a rising acknowledgement in the market of the niche capabilities being developed by pure play analytics players and as a result, the overall analytics and AI-led analytics services market size for pure play analytics firms is expected to grow at CAGR of 24.8% and 32.7%, respectively, during 2020 to 2024. Moreover, the Covid pandemic has further accelerated digital adoption resulting in the majority of the companies globally determining to digitize their core business model to remain economically viable," Course5 Intelligence's prospectus noted.

Axis Capital and JM Financial are the book running lead managers to the issue.

The company has reported a revenue of 143 crore for the six months period ending 30 September, 2021, up by almost 28% when compared with the same period a year ago. Its profit for the same period has more than doubled to nearly 27 crore.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed.

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