Mouri Tech files draft papers for Rs 1,500-crore IPO

Mouri Tech can access a wide range of talent and resources by strategically placing its delivery centers in several Indian cities. Access to prestigious universities and research facilities, a robust IT infrastructure, or a thriving tech ecosystem are just a few of the distinct benefits that come with each location. Mouri Tech is present in the United States, Europe, India, and the Middle East and Africa (EMEA). Hyderabad (Telangana), Bengaluru (Karnataka), Chennai (Tamil Nadu), Visakhapatnam (Andhra Pradesh), Kolhapur (Maharashtra), and Indore (Madhya Pradesh) are the locations of the company’s delivery centers. In addition to these competitors, the F&S report lists TCS, Infosys, Wipro, HCL, Tech Mahindra, LTI Mindtree, Persistent Systems, Coforge, Happiest Minds, Birlasoft, Mphasis, Sonata, and Zensa as well as others.

Mouri Tech submits an IPO application worth Rs. 1500 crore:

Mouri Tech, an IT solution provider, has submitted initial filing documents to market regulator Sebi in order to raise Rs 1,500 crore via an initial public offering (IPO). The DRHP, or draft red herring prospectus, details the Hyderabad-based company’s proposed initial public offering (IPO), which includes an offer-for-sale (OFS) of shares valued at Rs 1,060 crore by promoters and an existing shareholder, in addition to a new issue of equity shares worth Rs 440 crore.

Mouri Tech’s pre-IPO placement round:

The promotion includes a reservation for staff members who meet the requirements to make subscriptions. Promoters Sujai Paturu and Anil Reddy Yerramreddy will each sell their shares for a total of Rs. 316 crore and Rs. 615 crore under the OFS. Additionally, Srinivasu Rao Sandaka, a current shareholder, intends to sell equity shares for an estimated Rs. 129 crores.

To raise Rs. 88 crore, the company may consider doing a pre-IPO placement round. If such placement is completed, the new issue’s size will be smaller. The company intends to pay off the debt of its subsidiary MT USA with the Rs 165 crore proceeds from the new issue, keeping the remaining Rs 125 crore for working capital requirements. The residual funds will be allocated toward both general corporate functions and inorganic expansion via undisclosed acquisitions.

Conclusion: Mouri Tech is using an IPO to raise money in order to pay off debt and have some healthy working capital.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.