Intellius Recode Limited files Draft Red Herring Prospectus for IPO comprising ₹1,170 million fresh issue and 1.29 million share offer for sale.
Company provides AI-powered digital worker solutions and technology consulting with ₹707.90M FY2025 revenue and 98.85% US market exposure.
IPO proceeds will fund digital worker development (₹816.14M), debt repayment, and general corporate purposes with listing planned on BSE/NSE.
Key risks include customer concentration (top client 21.15% revenue), FEMA compliance issues, and intense IT services competition.