Daijiworld Media Network - Mumbai

Mumbai, Mar 29: Intellius Recode Ltd has filed draft papers with the Securities and Exchange Board of India to raise funds through an initial public offering (IPO).

According to the draft red herring prospectus (DRHP), the proposed IPO comprises a fresh issue of equity shares worth Rs 117 crore, along with an offer for sale (OFS) of up to 12.9 lakh shares by existing shareholders.

The company said proceeds from the fresh issue will be utilised to fund the development of its AI-driven digital workers, pay sub-contracting costs related to their development, and meet general corporate requirements.

Intellius Recode operates as a technology solutions provider focused on digital transformation for enterprise clients. Its offerings span technology consulting and artificial intelligence-led services, including proprietary “Agentic AI”-based digital workers.

The consulting vertical covers services such as data and analytics, enterprise robotic process automation, integration, development and operations, quality assurance, and digital commerce.

The firm’s digital workers are AI-powered software products designed to function like virtual employees, capable of executing business processes by interacting with enterprise systems, data, and workflows across front, mid, and back-office operations.

Inga Ventures has been appointed as the book-running lead manager for the issue.