Can you tell me about the DRHP of Cogent E-Services that was recently filed by the company?

The latest to file the draft red herring prospectus or DRHP with SEBI is Cogent E-Services. The IPO will be a combination of a fresh issue and an offer for sale (OFS). The IPO will include a fresh issue of Rs.150 crore which would imply fresh infusion of funds into the company. In addition, there will be an offer for sale of up to 94.68 lakh equity shares where promoters and early investors will dilute stake. Overall issue size is around Rs.300 crore.

Cogent E-Services could also evaluate the possibility of raising approximately Rs.30 crore through the pre-IPO placement route. In that case, the size of the fresh issue will be reduced proportionately. The fresh issue component of the IPO of Rs.150 crore will be largely utilized by the company to bankroll its investment in information technology and also for expansion of existing IT infrastructure. Some funds will also go to routine working capital.

Just a brief background; Cogent E-Services is an end-to-end customer experience or CX solutions provider. It is an omnichannel solutions provider specializing in multiple customer interaction touchpoints including such touchpoints that could be physical, part physical or entirely digital. The solution offered by the company will encompass customer sales and support through voice and non-voice channels, apart from back office solutions.

Cogent E-Services boasts of a wide and varied client base that is spread across more than 10 industry verticals that comprise of banking and financial services as well as digital and e-commerce verticals. It also brings the benefit of deep industry insights into these verticals. The issue will be lead managed by DAM Capital Advisors (formerly IDFC Securities Ltd) and IIFL Securities and other details will be decided post the final approval from SEBI.