Enterprise AI Firm C5i Files Confidential IPO Papers With SEBI
Data analytics and AI startup C5i has filed confidential IPO papers with India's SEBI, marking its second attempt to go public after shelving plans in 2022.
Enterprise AI and data analytics firm C5i, formerly known as Course5 Intelligence, has submitted draft IPO papers to the Securities and Exchange Board of India (SEBI) through a confidential route. This is the company's second attempt to become a publicly listed entity, following the withdrawal of its initial plans in 2022 due to unfavorable market conditions.
The company is reportedly aiming to raise approximately ₹1,000-1,200 crore (around $120-$145 million USD) through its Initial Public Offering (IPO). The specifics of the offering, including the allocation between new shares and existing ones for sale, remain undisclosed. C5i's previous IPO attempt in January 2022 sought to raise ₹600 crore but was postponed.
Founded in 2000, C5i provides data analytics and AI solutions to large enterprises, enabling them to derive actionable insights from their data for better decision-making. The company is backed by investors including Nuvama Asset Management and 360 ONE, which led its latest funding round of $55 million in 2023.
Financially, C5i reported a consolidated revenue surge of 26% to ₹545.3 crore (approximately $65 million USD) in FY25, compared to the previous year. However, its net profit saw a 15% decrease, falling to ₹48.3 crore in the same period. The majority of its revenue, 73.9%, came from the US market in FY25.