Hyderabad-based IT giant Mouri has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). The company plans to raise Rs 1,500 crore through an initial public offering (IPO).
IPO Structure and Key Details
The IPO will consist of both a fresh issue of shares worth Rs 440 crore and an offer for sale (OFS) of shares valued at Rs 1,060 crore, to be sold by existing shareholders.
The face value of each equity share is Rs 10.
Furthermore, the company promoters Sujai Paturu and Anil Reddy Yerramreddy will offload shares worth Rs 615 crore and Rs 316 crore, respectively, while non-promoter Srinivasu Rao Sandaka will sell shares worth Rs 129 crore.
Furthermore, the company may consider pre-IPO placement of up to Rs 88 crore.
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Utilisation of the fund
The company intends to use the net proceeds from the IPO for a variety of business objectives. These include investing Rs 165 crore in its subsidiary, MT USA, to repay outstanding borrowings, allocating Rs 125 crore for working capital, and using the remainder for acquisitions and other corporate purposes.
IPO Allocation Breakdown
The offer will be made through the book-building process, with allocations as follows: 50 per cent for qualified institutional buyers, 15 per cent for non-institutional bidders, and 35 per cent for retail individual investors.
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About the company
The company operates across four key practice areas: intelligent enterprise resource planning (iERP), enterprise digital transformation, infrastructure services, and program management.
The company has presence spans across India, the USA, Europe, the Middle East, and Africa (EMEA). In the last three fiscal years, more than 80 per cent of Mouri Tech’s revenue came from the USA, with the remainder predominantly generated in India and the EMEA region.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Investing in IPOs involves risks and potential volatility. Readers are advised to conduct their own research and consult a financial advisor before making investment decisions. The author and publisher are not responsible for any financial losses incurred by readers.
