MOURI Tech IPO: Files DRHP to SEBI for Upcoming IPO

MOURI Tech Limited has filed its DRHP with SEBI to prepare for its upcoming public issue. This upcoming IPO is offering a fresh issue of equity share worth up to Rs 440 crore and an Offer for sale of equity shares worth up to Rs 1,060 crore.

The total aggregate size of a public issue in rupees is up to Rs 1500 crores, whereas the total no. of equity shares that will be issued by the company is not yet disclosed.

This IPO will follow the book-building process, with not more than 50% of the offer reserved for Qualified Institutional Buyers (QIBs), not less than 15% for Non-Institutional Investors (NIIs), and not less than 35% for retail investors is reserved.

MOURI Tech IPO open date and close date is not yet declared. The price band & lot size will be revealed soon by the company. The Shares to be offered through the Red Herring Prospectus are proposed by the company to be listed on the BSE and NSE exchange.

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About MOURI Tech Limited

MOURI Tech Limited, established on December 19, 2005, at Hyderabad, Andhra Pradesh, India. It is a prominent global enterprise solutions provider. MOURI Tech is a specialized provider of integrated IT services which include intelligent Enterprise Resource Planning (iERP) and offers solutions through digital transformation that match the specific needs of the market place for different industries. Passion for quality and customer satisfaction distinguishes MOURI Tech as a Great Place to Work-Certified™ organization; its high-performance culture is  anchored in trust and collaboration. The company operates multiple offices worldwide, including locations in India and Europe, and employs over 1,000 professionals dedicated to driving innovation and excellence in the IT sector. MOURI Tech continues to position itself as a trusted partner for organizations seeking digital advancement.

MOURI Tech IPO Objectives

The company intends to utilize the Net Proceeds from the Fresh Issue primarily for investment in its Material Subsidiary, MT USA, to repay or prepay certain outstanding borrowings, including accrued interest, amounting to ₹Rs 65 crore. Rs 125 crore will be allocated to meet the working capital requirements of the company. Further the funds will be used towards supporting inorganic growth through acquisitions & other strategic initiatives, as well as general corporate purposes.

Financials of MOURI Tech Limited

MOURI Tech Limited financials show decent performance for the FY ended 2024, compared to FY 2023:

1. Assets increased from Rs 586.10 crores in March 2023 to Rs 736.03 crores in March 2024, a 25.58% increase.
2. Revenue increased from Rs 1,099.78 crores to Rs 1,141.30 crores, a 3.78% increase.
3. Profit After Tax (PAT) increased from Rs 159.95 crores to Rs 167.25 crores, a 4.57% increase.
4. Total Borrowing increased from Rs 29.63 crores to Rs 35.81 crores, a 20.85% increase.

Lead manager(s) and Registrar of MOURI Tech IPO

The IPO is managed by Nuvama Wealth Management Limited, ICICI Securities Limited and JM Financial Limited, which is the book-running lead manager for this public issue. The company has appointed Link Intime India Private Limited as the registrar for this public issue.

Promoters of MOURI Tech Limited

Anil Reddy Yerramreddy And Sujai Paturu identifiable promoter (s). They collectively hold 79.15% of the company's shares. However, post-IPO changes in their shareholding have not yet been disclosed in the Prospectus filed by the company with SEBI. To read the full DRHP, click here.

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