Mouri Tech Files for Rs 1,500 Crore IPO to Drive Expansion

Hyderabad-based IT solution provider Mouri Tech has submitted initial papers to market regulator Sebi to raise Rs 1,500 crore via an IPO. The IPO includes a fresh issue worth Rs 440 crore and an offer-for-sale worth Rs 1,060 crore. Proceeds will fund debt repayment, working capital, and acquisitions.

Hyderabad's IT solution provider, Mouri Tech, has officially filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise Rs 1,500 crore through an initial public offering (IPO).

The proposed IPO includes a fresh issue of equity shares valued at Rs 440 crore, alongside a Rs 1,060 crore offer-for-sale by existing shareholders and promoters. Notably, promoters Sujai Paturu and Anil Reddy Yerramreddy plan to sell shares worth Rs 615 crore and Rs 316 crore, respectively, while shareholder Srinivasu Rao Sandaka intends to offload Rs 129 crore in equity.

The IPO proceeds will primarily be used to pay off Rs 165 crore in debt for its subsidiary MT USA, with an additional Rs 125 crore allocated for working capital. Remaining funds will target acquisitions and general corporate initiatives. Mouri Tech operates in various regions including the US, Europe, the Middle East, Africa, and India, competing with major firms like TCS and Infosys.

(With inputs from agencies.)