Intellius Recode Limited files DRHP with SEBI for an IPO

Intellius Recode Limited, a next generation technology solutions provider has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).

 Intellius Recode Limited enables enterprise businesses with their digital transformation (Source: F&S Report). It supports large global enterprises across geographies with technology consulting and autonomous, context-aware and adaptive artificial intelligence (“Agentic AI”) enabled products.

 Recode Solutions Inc., Prasanna Srinivasan Ramaswamy and Sivathanupillai Adhikesaven Nadarajapillai are the promoters of the company.

 The offer comprises of a fresh issue of upto Rs.1,170 million (Rs.117 Crore) and an offer for sale of upto 12,90,000 equity shares. The face value of each equity share is Rs.10.

The company proposes to utilise the net proceeds towards funding cost for development of Digital Workers, Payment of sub-contracting fees for development of Digital Workers for the Company, and General corporate purposes.

 The company's business is organized under two core verticals: technology consulting and Agentic AI based digital workers for enterprise process transformation including computer vision based artificial intelligence (“AI”) platform to enable industrial automation (“Digital Workers”).

 Its technology consulting vertical comprises data & analytics, enterprise robotic process automation, integration, development & operation services, quality assurance and digital commerce solutions. These offerings are delivered through a combination of custom programming and select third-party enterprise platforms. 

 Similarly, Digital Workers are company's proprietary software products that function as AI-enabled virtual employees, designed to execute defined business roles and processes within an organisation. Each Digital Worker is configured to replicate human judgment and task execution by interacting with enterprise applications, data systems and workflows across front-office, mid-office and back-office functions.

The equity shares that will be offered through the Red Herring Prospectus are proposed to be listed on the Stock Exchanges, being the BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE", and together with BSE, the " Stock Exchanges").


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