IT solution provider Mouri Tech has filed preliminary papers with markets regulator Sebi to raise Rs 1,500 crore through an initial public offering (IPO).
The Hyderabad-based company’s proposed IPO comprises a fresh issue of equity shares worth Rs 440 crore, and an offer-for-sale (OFS) of shares worth Rs 1,060 crore by promoters and an existing shareholder, according to the draft red herring prospectus (DRHP).
The offer includes a reservation for subscription by eligible employees,
Under the OFS, promoters Sujai Paturu, and Anil Reddy Yerramreddy will be selling shares worth Rs 615 crore, and Rs 316 crore, respectively. Further, existing shareholder Srinivasu Rao Sandaka intends to offload equity shares valued Rs 129 crore.
The company may consider raising Rs 88 crore in a Pre-IPO Placement round. If such placement is completed, the fresh issue size will be reduced.
Proceeds from the fresh issue to the tune of Rs 165 crore will be used for debt payment of its subsidiary MT USA an
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