Mouri Tech refiles DRHP with Sebi for Rs 1,500 crore IPO; check details
(You can now subscribe to our
(You can now subscribe to our ETMarkets WhatsApp channel
Mouri Tech has refiled its Draft Red Herring Prospectus (DRHP) with the capital markets regulator Securities and Exchange Board of India (SEBI), to raise Rs 1,500 crore through an initial public offering ( IPO ).Previously, the company had filed its DRHP in September 2024. The IPO, with a face value of Rs 10 per share, is a mix of a fresh issue of up to Rs 250 crore and an offer for sale (OFS) up to Rs 1,250 crore by the promoter and other selling shareholders.The offer for sale includes the promoter selling shareholders Sujai Paturu and Anil Reddy Yerramreddy, who plan to sell shares worth up to Rs 726.30 crore and Rs 370.60 crore, respectively. Additionally, Srinivasu Rao Sandaka and other shareholders will sell shares worth up to 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 utilised 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. 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 and the BSE.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.The company's 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.It acquired 119 new customers in the 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 ('EMEA') 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 people as of December 31, 2024. It was also ranked 18th among the top 100 best companies to work for in India by the Great Place to Work Institute in 2023. As of December 31, 2024, Mouri Tech had 554 active customer accounts.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
12 minutes ago
- Time of India
Truemeds closes $85 million funding led by Accel and Peak XV Partners
Academy Empower your mind, elevate your skills Telehealth platform Truemeds has secured $85 million in a funding round led by Accel and Peak XV Partners , its cofounder Akshat Nayyar told the total, $65 million was primary capital while $20 million was secondary transactions through which early backers are exiting, according to Nayyar, who said existing investors WestBridge Capital and Info Edge Ventures also participated in the company will use the funds to triple its national footprint by adding fulfillment centres, expand its team and set up a technology hub in Bengaluru, he said.'We have cracked the business model and the product market fit is in place too. Even at an order level economics, we are able to deliver a very positive result. So, now we are focusing on expanding our footprint in the country,' Nayyar April 2022, Truemeds had raised $22 million in a funding round led by Westbridge Capital and participation from existing investors. In 2021, the company had raised $5 million from investors including InfoEdge Ventures, Asha Impact and Indian Angel platform has raised $135 million to date and is valued at over $400 million.'India's healthcare market is undergoing rapid transformation, yet affordability continues to be a major barrier, especially in chronic care,' Abhinav Chaturvedi, Partner at Accel, said in a prepared statement. 'Truemeds is bridging this gap with a clinically guided, technology-led platform that delivers transparency and accessibility at scale.'Truemeds, founded by Nayyar and Kunal Wani in 2019, focuses on recommending value alternative brands to patients.'By leveraging technology to deliver a seamless customer experience, they are redefining how essential medicines reach those who need them the most,' Sakshi Chopra, managing director of Peak XV, said in a Mumbai-based company has 19 fulfillment centres and plans to take it to 50 in the next 12 months, according to Nayyar. Monthly orders processed by the platform have grown by more than 100% year-on-year to close to 600,000 each closed FY25 with about Rs 510 crore in net the e-pharmacy space, it competes with companies including Tata 1mg, PharmEasy, Netmeds and a growing demand for quick commerce, Truemeds' rivals have launched rapid delivery services. However, Truemeds target consumers are people with chronic ailments who plan their medicine purchase.'There is a need for urgent care when it comes to health, which is what quick commerce will be able to solve. However, we are focusing more on the planned care part,' said Nayyar. 'Our target market is that where there is a planned need for medicines, which is more value-driven than speed-driven.'Even quick commerce platforms such as Swiggy's Instamart, Flipkart Minutes and Zepto have also started delivering medicines in minutes.
Economic Times
12 minutes ago
- Economic Times
Truemeds closes $85 million funding led by Accel and Peak XV Partners
Company Images (L-R) Akshat Nayyar and Dr Kunal Wani, cofounders, Turemeds Telehealth platform Truemeds has secured $85 million in a funding round led by Accel and Peak XV Partners, its cofounder Akshat Nayyar told the total, $65 million was primary capital while $20 million was secondary transactions through which early backers are exiting, according to Nayyar, who said existing investors WestBridge Capital and Info Edge Ventures also participated in the financing. The company will use the funds to triple its national footprint by adding fulfillment centres, expand its team and set up a technology hub in Bengaluru, he said. 'We have cracked the business model and the product market fit is in place too. Even at an order level economics, we are able to deliver a very positive result. So, now we are focusing on expanding our footprint in the country,' Nayyar April 2022, Truemeds had raised $22 million in a funding round led by Westbridge Capital and participation from existing investors. In 2021, the company had raised $5 million from investors including InfoEdge Ventures, Asha Impact and Indian Angel platform has raised $135 million to date and is valued at over $400 million.'India's healthcare market is undergoing rapid transformation, yet affordability continues to be a major barrier, especially in chronic care,' Abhinav Chaturvedi, Partner at Accel, said in a prepared statement. 'Truemeds is bridging this gap with a clinically guided, technology-led platform that delivers transparency and accessibility at scale.'Truemeds, founded by Nayyar and Kunal Wani in 2019, focuses on recommending value alternative brands to patients.'By leveraging technology to deliver a seamless customer experience, they are redefining how essential medicines reach those who need them the most,' Sakshi Chopra, managing director of Peak XV, said in a Mumbai-based company has 19 fulfillment centres and plans to take it to 50 in the next 12 months, according to Nayyar. Monthly orders processed by the platform have grown by more than 100% year-on-year to close to 600,000 each closed FY25 with about Rs 510 crore in net the e-pharmacy space, it competes with companies including Tata 1mg, PharmEasy, Netmeds and a growing demand for quick commerce, Truemeds' rivals have launched rapid delivery services. However, Truemeds target consumers are people with chronic ailments who plan their medicine purchase.'There is a need for urgent care when it comes to health, which is what quick commerce will be able to solve. However, we are focusing more on the planned care part,' said Nayyar. 'Our target market is that where there is a planned need for medicines, which is more value-driven than speed-driven.'Even quick commerce platforms such as Swiggy's Instamart, Flipkart Minutes and Zepto have also started delivering medicines in minutes. Elevate your knowledge and leadership skills at a cost cheaper than your daily tea. Can Coforge's ambition to lead the IT Industry become a reality? How Mukesh Ambani's risky bet has now become Reliance's superpower Berlin to Bharuch: The Borosil journey after the China hit in Europe As RBI retains GDP forecast, 4 factors that will test the strength of Indian economy In a flat market, are REITs the sweet spot between growth and safety? These large- and mid-cap stocks may give more than 25% return in 1 year, according to analysts Buy, Sell or Hold: Avendus trims target on Titan Company; Motila Oswal maintains buy on Jindal Stainless Stock picks of the week: 5 stocks with consistent score improvement and return potential of more than 23% in 1 year
Time of India
26 minutes ago
- Time of India
Govt may amend rules to auction excise licences, wine merchants up in arms
Bengaluru: Industry stakeholders and the excise department are again at loggerheads, this time over the department's move to amend rules to facilitate auctioning of certain licences. Excise minister RB Timmapur said preparations are under way for the auction and that it is likely be completed in Sept. But industry stakeholders are sceptical. They say the number of licences that can be auctioned is significantly lower than the number listed by the department. The Federation of Wine Merchants' Associations of Karnataka says licences that the excise department considers unrenewed for about 30-35 years, and those that are pending approval, have been listed for auction. You Can Also Check: Bengaluru AQI | Weather in Bengaluru | Bank Holidays in Bengaluru | Public Holidays in Bengaluru The federation said the list has a total 241 licences, including 136 under the CL-2 category (retail liquor shops) and 105 under CL-9 (bars). However, 463 unrenewed licences were reportedly allotted to Mysore Sales International Ltd (MSIL) in 2009 and hence cannot be auctioned now. Additionally, the federation contented that a total of 260 CL-2 and 216 CL-9 licences were validated following the allocation to MSIL till March 31. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like With temperatures hitting 95°F, this is the mini air conditioner everyone's buying in the U.S News of the Discovery Undo It maintained that only 42 licences of the 241 listed licences are pending renewal as 199 were from before 2008-09 when unrenewed licences were given to MSIL. Office-bearers of the federation met chief minister Siddaramaiah during his visit to Delhi last week and submitted an appeal against the department's decision to auction licences. Timmapur has said that he has asked officials to consider legal issues raised by the federation. "The rules may have to be amended to auction licences," he said, adding that merchants may be worried about the effect of new licence approvals on their businesses. A senior official told TOI that details of the auctioning process are yet to be decided. "The available licences will be auctioned only after legal hurdles are cleared," the official said, adding that the merchants' interpretation is inaccurate. The decision to auction licences comes in the backdrop of low liquor sales in the state compared to last year. The excise department said sales of beer fell by 20.4% between April 1 and July 30 this year, compared to the same period last year. Sales of Indian-made liquor (IML) also fell, but at 2% the decrease wasn't as dramatic. Interestingly, revenue for the period rose by 12.2% in 2025 compared to 2024. The department had increased additional excise duty on IML in May and excise duty on beer in Jan. Excise duty on beer now stands at 200% from the earlier 195%. However, the other component of paying Rs 130 per bulk litre (whichever is higher) was dropped. Stay updated with the latest local news from your city on Times of India (TOI). Check upcoming bank holidays , public holidays , and current gold rates and silver prices in your area.
