Cogent E-Services Ltd has acquired capital markets regulator Sebi’s go-ahead to increase funds by an Initial Public Offering (IPO).
The preliminary share-sale includes recent subject of fairness shares aggregating up to Rs 150 crore and a proposal on the market of up to 94.68 lakh fairness shares by promoters, in accordance to the draft purple herring prospectus.
Cogent E-Services, which filed its IPO papers with Sebi in February, obtained observations on May 23, an replace with the regulator confirmed on Monday.
In Sebi’s parlance, its statement implies the company involved has acquired the approval to launch the IPO.
Going by the draft papers, Cogent E-Services may additionally contemplate a non-public placement of fairness shares aggregating up to Rs 30 crore. If such pre-IPO placement is undertaken, the recent subject measurement can be lowered.
Funds raised from recent subject can be used for funding funding in IT belongings for growth and current IT infrastructure of the company, help working capital necessities and basic company functions.
Cogent is an end-to-end buyer expertise or CX options supplier providing omni-channel options alongside numerous buyer interplay contact factors from buyer gross sales and help by voice and non-voice channels, again office options and transformative providers and digital advertising. The company’s shoppers are diversified throughout greater than 10 trade verticals, together with banking and monetary providers and e-commerce.
DAM Capital Advisors and IIFL Securities are the e book working lead managers to the difficulty.