NEW DELHI, Mar 29: Intellius Recode Ltd has filed preliminary papers with the markets regulator Sebi to raise funds through an initial public offering (IPO).
The proposed IPO comprises a fresh issue of equity shares aggregating Rs 117 crore and an offer for sale (OFS) of up to 12.9 lakh equity shares by existing shareholders, according to the draft red herring prospectus (DRHP).
The company intends to utilise the net proceeds from the fresh issue towards funding the development of its digital workers, payment of sub-contracting fees related to their development, and for general corporate purposes.
Intellius Recode is a technology solutions provider focused on enabling digital transformation for enterprise clients. It offers services across technology consulting and artificial intelligence-led solutions, including its proprietary “Agentic AI”-based digital workers.
Its technology consulting vertical includes services like data and analytics, enterprise robotic process automation, integration, development and operations, quality assurance, and digital commerce solutions.
The company’s digital workers are AI-enabled software products designed to function as virtual employees, capable of executing defined business processes by interacting with enterprise systems, data and workflows across front, mid and back-office operations.
Inga Ventures is the book-running lead manager of the issue. (PTI)
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