IPO Watch: Mouri Tech refiles draft papers for ₹1,500 crore IPO
Mouri Tech specializes in IT solutions and services, adopting an 'AI first' strategy with a focus on comprehensive capabilities in intelligent enterprise resource planning ('iERP') and enterprise digital transformation. It operates through four primary practice areas: iERP, enterprise digital transformation, infrastructure services, and program management.
Mouri Tech caters to clients across a variety of sectors, including business services, energy and utilities, public sector and non-profit, professional services, hospitality, media and entertainment, manufacturing, life sciences, logistics and transportation, and has a global footprint that spans the USA, Europe, the Middle East and Africa ('EMEA'), and India.
In India, the company has locations in Hyderabad (Telangana), Bengaluru (Karnataka), Chennai (Tamil Nadu), Visakhapatnam (Andhra Pradesh), Kolhapur (Maharashtra), and Indore (Madhya Pradesh). Internationally, it maintains offices in Irving (Texas) and Fremont (California) in the USA, Scarborough (Ontario) in Canada, and in countries such as Singapore, South Africa, Germany, the United Kingdom, Philippines, Australia, and the UAE, all managed through its subsidiaries.
The IPO, priced at a face value of ₹ 10 per share, comprises a combination of a fresh issue of up to ₹ 250 crore and an offer for sale (OFS) amounting to ₹ 1,250 crore from Promoter and Other Selling Shareholders.
The Offer for Sale includes Sujai Paturu and Anil Reddy Yerramreddy, who are the Promoter Selling Shareholders, selling shares worth up to ₹ 726.30 crore and ₹ 370.60 crore, respectively.
Additionally, Srinivasu Rao Sandaka and other selling shareholders plan to sell shares up to ₹ 153.10 crore. The funds raised from the fresh issue will be directed towards investment in one of its Material Subsidiaries, MT USA, for the repayment or prepayment of certain outstanding borrowings obtained by the company, including the accrued interest, as well as for facilitating inorganic growth through undisclosed acquisitions and general corporate purposes.
Nuvama Wealth Management Limited, ICICI Securities Limited, and JM Financial Limited serve as the book-running lead managers, while MUFG Intime India Private Limited acts as the registrar for the issue. The equity shares are intended to be listed on both the National Stock Exchange of India Limited and BSE Limited.
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