Cogent e-services Files Draft Papers With 'Sebi' To Mop-Up Funds via IPO

Cogent e-services Ltd has filed preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The initial share-sale comprises fresh issue of equity shares aggregating up to Rs 150 crore and an offer for sale of up to 994.68 lakh equity shares by promoters, according to the Draft Red Herring Prospectus. The company may consider a private placement of equity shares aggregating up to Rs 30 crore. If such pre-IPO placement is undertaken, the fresh issue size will be reduced.

Funds raised from fresh issue will be used for funding investment in IT assets for expansion and existing IT infrastructure of the company, support working capital requirements and general corporate purposes. Cogent is an end-to-end customer experience or CX solutions provider offering omnichannel solutions along various customer interaction touchpoints from customer sales and support through voice and non-voice channels, back office solutions and transformative services and digital marketing.

The company's clients are diversified across more than 10 industry verticals including banking and financial services and e-commerce. DAM Capital Advisors and IIFL Securities are the book running lead managers to the issue.

(PTI)