Cogent E-Services obtains the green light from Sebi to launch its IPO

Cogent E-Services Ltd has received the green light from capital markets regulator Sebi to raise funds through an initial public offering (IPO).

The initial share sale includes a new issue of capital shares aggregating up to Rs 150 crore and an offer for sale of up to 94.68 lakh capital shares by promoters, according to the draft prospectus of red herring.

Cogent E-Services, which filed its IPO documents with Sebi in February, obtained submissions on May 23, an update with the regulator showed on Monday.
In the language of Sebi, his observation implies that the company concerned has received approval to launch the IPO.

According to the draft documents, Cogent E-Services may also consider a private placement of shares aggregating up to Rs 30 crore. If such a pre-IPO placement is undertaken, the size of the new issue will be reduced.

Funds raised from a new issue will be used to fund investment in IT assets for expansion and the company’s existing IT infrastructure, support working capital requirements and general corporate needs. company.

Cogent is an end-to-end Customer Experience or CX solutions provider offering omnichannel solutions along various customer interaction touchpoints, from sales and customer support to voice and non-voice channels, back office and transformation services and digital marketing. The company’s clients are diversified across more than 10 verticals, including banking and financial services and e-commerce.
DAM Capital Advisors and IIFL Securities are the lead managers of the issue.

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