Mouri Tech Files Draft IPO Papers To Raise Rs 1,500 Crore

Mouri Tech Ltd. filed preliminary papers with the Securities and Exchange Board of India to raise Rs 1,500 crore via initial public offering. The maiden offering consists of a fresh issue of shares worth Rs 440 crore and an offer for sale of Rs 1,060 crore.

Sujai Paturu, Anil Reddy Yerramreddy and Srinivasu Rao Sandaka will offload shares in the OFS portion of the offering.

Nuvama Wealth Management Ltd., ICICI Securities Ltd., and JM Financial Ltd. are the book-running lead managers for the issue.

The company will utilise Rs 165 crore from the net proceeds towards investing in subsidiaries for repayment of borrowing. It will use Rs 125 crore for funding working capital requirements.

Proceeds will also be used for inorganic growth through acquisitions and general corporate purpose.

Mouri Tech is an IT solutions and services company, that provides a comprehensive portfolio of services. It focuses on end-to-end capabilities in intelligent enterprise resource planning and enterprise digital transformation.

The company operates across four practice areas: iERP, enterprise digital transformation, infrastructure services, and program management. The IT services company has presence in the US, Europe, the Middle East and Africa and India.