IPO Update: Cogent E-Services Files Draft Papers with SEBI to Raise Funds of 150 Crores

IPO Update: Cogent E-Services Files Draft Papers with SEBI to Raise Funds of 150 Crores Cogent e-services Ltd has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO). According to the Draft Red Herring Prospectus, the initial share-sale will include a fresh issue of equity shares worth up to Rs 150 crore and a promoter offer to sell up to 994.68 lakh equity shares. Cogent, according to its website, is an Indian CXM solutions provider that helps businesses rethink customer experience management in the digital age. We've been providing industry-specific solutions and a strategy that improves client relationships and sets your business apart from the competition since 2004. They use artificial intelligence and machine learning to build and manage customer experiences through analytics, digital, and automation. The company may pursue a private offering of up to Rs 30 crore in equity shares. If a pre-IPO placement is made, the size of the new offering will be reduced. Spread in seven major cities of India, the company provides measurable growth within operations through domain experts, contact centers, and back-office processes. They claim to be one of the most trusted and dependable service partners for their clients to redefine CXM in the digital age. The funds raised from the new issue will be utilized to fund IT asset investments for the company's expansion and current IT infrastructure, as well as to meet working capital needs and other general business reasons. With 50 million+ consumer touchpoints in India, the company's clients span more than ten industrial verticals, including banking and financial services and e-commerce. The issue's book running lead managers are DAM Capital Advisors and IIFL Securities.