Operates across four practice areas: iERP, enterprise digital transformation, infrastructure services, and program management.
MUMBAI, May 7 (The CONNECT)- IT Solutions and Services company Mouri Tech Ltd has refiled its Draft Red Herring Prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) for its Rs 1,500 crore initial public offering (IPO).
The company had earlier filed its DRHP in September 2024,but withdrew it.
The IPO, with a face value of ₹10 per share, is a mix of fresh issue of up to Rs 250 crore and an offer for sale (OFS) up to Rs 1,250 crore by Promoter and Other Selling Shareholders.
The Offer for sale consists of Promoter Selling shareholders Sujai Paturu and Anil Reddy Yerramreddy selling up to Rs 726.30 crore and Rs 370.60 crore respectively. Srinivasu Rao Sandaka, other selling shareholders selling up to Rs 153.10 crore.
The company, in consultation with the book-running lead manager, may consider a pre-IPO placement aggregating up to Rs 50 crore.
The proceeds from the fresh issue will be utilized for investment in one of its Material Subsidiaries, MT USA, for the repayment / prepayment, in full or in part, of certain outstanding borrowings availed by the company, including payment of the interest accrued thereon and funding inorganic growth through unidentified acquisitions and general corporate purposes.
The Offer is being made through the book-building process, wherein not more than 50% of the net offer is allocated to qualified institutional buyers, and not less than 15% and 35% of the net offer is assigned to non-institutional investors and retail individual investors respectively.
Mouri Tech is an IT solutions and services company, delivering services with an “AI first” approach and a focus on end-to-end capabilities in intelligent enterprise resource planning (“iERP”) and enterprise digital transformation.
It operates across four practice areas: iERP, enterprise digital transformation, infrastructure services, and program management.
Its portfolio includes in-house developed digital assets that encompass industry, business processes, and technological expertise, and are further classified into templates, accelerators, frameworks, tools, products, process maps, best practices, performance metrics, industry solutions, assessments, and methodologies
The Company acquired 119 new customers in nine months ended December 31, 2024.
Mouri Tech serves customers that operate across industries such as business services, energy and utilities, non-profit and public sector, professional services, hospitality, media and entertainment, manufacturing, life sciences, logistics and transportation and has a presence in the USA, Europe, the Middle East and Africa and India.
Domestically, it is located in Hyderabad (Telangana), Bengaluru (Karnataka), Chennai (Tamil Nadu), Visakhapatnam (Andhra Pradesh), Kolhapur (Maharashtra) and Indore (Madhya Pradesh). Internationally, it has offices in Irving (Texas) and Fremont (California) in the USA, Scarborough (Ontario) in Canada and in Singapore, South Africa, Germany, the United Kingdom, Philippines, Australia and the UAE that are operated through its Subsidiaries.
Mouri Tech Ltd. had an employee base of 2,983 employees, as of December 31, 2024. It also ranked 18 among the top 100 best companies to work for in India by Great Place to Work Institute in 2023.
As of December 31, 2024, Mouri Tech had 554 active customer accounts.
Nuvama Wealth Management Limited, ICICI Securities Limited, and JM Financial Limited are the book-running lead managers and MUFG Intime India Private Limited is the registrar to the issue. The equity shares are proposed to be listed on the National Stock Exchange of India Limited and BSE Limited.
