Course5 Intelligence Ltd., which enables global organisations to drive digital transformation through the use of artificial intelligence, advanced analytics and insights, is planning to raise ₹300 crore of fresh capital to finance inorganic growth initiatives, working capital requirements, product and IP initiatives, expansion of geographical footprint, and general corporate purposes, the company said in a filing with the Securities and Exchange Board of India (SEBI).
The company is looking to enhance existing capabilities and create new capabilities in existing areas of business and new areas that are related to its areas of business.
To further scale its operations, customer base and geographical presence, it intends to expand its geographical footprint in some of the regions where its customers operate, inorganically and organically, and strengthen its product and solution portfolio. These include the U.S., Canada and Singapore.
The company has proposed to utilise ₹75 crore of the net proceeds towards funding inorganic growth initiatives.
To capitalise on market opportunities and to pursue its growth strategies, it is working to identify and acquire targets, in India or abroad, that would strategically fit, be synergetic to its business.
“The key parameters would be strengthening position in existing markets and entering into new markets; industry penetration; capability upgradation, expansion and diversification,” Course5 Intelligence said.
Recently the company had appointed three independent directors to its board. These include Vikas Khemani (former Edelweiss Securities), Vinati Saraf Mutreja and Simon Chadwick.
Ashwin Mittal, Chairman, Managing Director and Chief Executive Officer, Course5 Intelligence, said, “We believe that their expertise will be invaluable to the company as we embark on the next phase of growth in our journey.”
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