Mouri Tech refiles DRHP with SEBI
Mouri Tech has refiled draft red herring prospectus (DRHP) with capital markets regulator Securities and Exchange Board of India (SEBI) to raise Rs 1,500 crore through an Initial Public Offering (IPO). The company has proposed to raise Rs 250 crore through selling new shares, while promoters and a selling shareholder plan to sell stock to the tune of Rs 1,250 crore.
Proceeds from the fresh issue will be utilised for investment in its subsidiary --MT USA-- for the payment of a debt, funding inorganic growth through unidentified acquisitions, and for general corporate purposes. Nuvama Wealth Management, ICICI Securities, and JM Financial are the book-running lead managers to the issue. The equity shares are proposed to be listed on the NSE and 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.
