Intellius Recode IPO

About Intellius Recode IPO

The Intellius Recode IPO opens on TBA and closes on TBA. The allotment of shares will take place on TBA. The credit of shares to the demat account will take place on TBA. The initiation of refunds will take place on TBA. The listing of shares will take place on TBA.

The offer consists of both a fresh issue and an offer for sale component. The fresh issue will include [TBA] shares aggregating up to ₹117 crores. The offer for sale portion includes 12,90,000 shares of ₹10 aggregating up to ₹[TBA] crores. The total number of shares and aggregate amount are yet to be finalised.

Intellius Recode IPO’s price band is set at TBA to TBA per share. The lot size for an application is TBA. The minimum amount of investment required by a retail investor is ₹TBA (TBA shares) (based on upper price). The minimum lot size investment for HNI is TBA.

Intellius Recode is a India-based and Chennai headquartered digital transformation firm founded in 2018 and next generation technology solutions provider enabling businesses in their digital transformation. It is a specialized Industry 4.0 technology services company. Its mission is to make work smarter and faster through AI-powered solutions, using a software-first delivery model rather than traditional, labor-heavy consulting. From offices in the US and India, Intellius Recode serves a global client base across Australia, Europe, and North America.

Objectives of Intellius Recode IPO

• Funding cost for development of digital workers.

• Payment of sub-contracting fees for development of digital workers for the company.

• General corporate purposes.

Industry Outlook

As per the F&S Report, the global agentic AI market is expected to grow from US$ 770 crores in 2025 to US$ 4930 crores by 2030 growing at a compound annual growth rate of 45% during the period from 2025 to 2030.

U.S. trends largely mirror global ones. Companies prioritize data-driven decision-making and allocate significant budgets to AI and analytics. Big data adoption and AI/ML are key growth drivers in the U.S. market. Many U.S. firms are also early adopters of next-generation analytics (e.g. automated ML platforms, natural-language querying). Spending on analytics tools and services remains a strategic focus for U.S. businesses. U.S. enterprises are rapidly adopting AI-led automation platforms, particularly agentic AI systems that orchestrate multiple applications and data sources to streamline end-to-end business processes across finance, supply chain, customer service, and IT operations. At the same time, computer vision platforms are being deployed on factory floors, warehouses, and field sites to support industrial automation, worker safety, and productivity gains, especially when tightly integrated with OT systems and enterprise data platforms. This shift is further accelerating demand for technology consulting services spanning data and analytics, systems integration, digital commerce modernization, quality assurance, and DevOps to design, implement, and operate these complex, AI-enabled ecosystems at scale. The dynamic and diverse USA technology landscape thrives on innovation across various sectors. Key emerging technologies include Generative AI, Agentic AI, computer vision and AI & ML. Generative AI fosters creativity, while AI & ML drive automation and insights.

About Intellius Recode

Founded in 2018, Intellius Recode is a next generation technology solutions provider enabling enterprise businesses with their digital transformation. (Source: F&S Report) They support large global enterprises across geographies with technology consulting and autonomous, context-aware and adaptive artificial intelligence (Agentic AI) enabled products. Their business is organized under two core verticals: (i) technology consulting and (ii) Agentic AI based digital workers for enterprise process transformation including computer vision based artificial intelligence platform to enable industrial automation.

Through these two core verticals, they cater to the diverse business needs of their clients across industries and business functions. Their technology consulting vertical comprises (a) data & analytics, (b) enterprise robotic process automation, (c) integration, development & operation services, (d) quality assurance and (e) digital commerce solutions. These offerings are delivered through a combination of custom programming and select third-party enterprise platforms. Similarly, Digital Workers are their proprietary software products that function as AI-enabled virtual employees, designed to execute defined business roles and processes within an organisation. Each Digital Worker is configured to replicate human judgment and task execution by interacting with enterprise applications, data systems and workflows across front-office, mid-office and back-office functions.

Strengths of Intellius Recode

• A comprehensive portfolio of artificial intelligence led digital platforms, solutions and assets position them well to address the needs of regulated and process-intensive industries.

• Long-standing and growing relationships with marquee global clients.

• Robust financial performance supported by cash flows and access to capital.

• Comprehensive expertise across technical, domain, and functional areas.

• Qualified and experienced Individual promoters supported by a management team with domain and functional expertise.

Risks of Intellius Recode

• A significant part of their total revenue from operations is generated through their wholly owned subsidiary, Intellius Recode Solutions, Inc.

• They generate the majority of their revenue from operations from jurisdictions outside India, in particular, from the United States of America.

• They derive a substantial portion of their revenue from the technology consulting service category.

• They derive a significant portion of their revenue from operations from their key customers and they do not have long-term contracts with all of these customers.

• They depend on their top 10 suppliers for the supplies required in their service operations.

• They may be unable to attract new customers in a cost-effective manner.

• Their business depends on their ability to attract and retain highly skilled professionals.

• A majority of their revenues are dependent on a limited number of industry verticals.

• Exchange rate fluctuations in various currencies, particularly, the US Dollar, in which they do business could materially and adversely impact their business.

Anchor Investor Bidding Date: TBA

Registrar: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)

Book Running Lead Managers: Inga Ventures Private Limited

Intellius Recode Business Model

The company earns its revenue as a next generation solutions provider. They operate two core verticals: (i) technology consulting and (ii) Agentic AI based digital workers for enterprise process transformation including computer vision based artificial intelligence platform to enable industrial automation.

Intellius Recode Growth Trajectory

Intellius Recode’s Total Income for FY25 was ₹72.637 crores, whereas in FY24 and FY23 it was ₹80.961 crores and ₹69.952 crores, respectively.

The Profit After Tax for FY25 was ₹8.180 crores, whereas in FY24 and FY23 it was ₹9.246 crores and ₹4.138 crores, respectively.

Their EBITDA for FY25 was ₹11.093 crores, whereas in FY24 and FY23 it was ₹11.588 crores and ₹7.394 crores, respectively.

Intellius Recode Market Position

Across their business verticals, as of September 30, 2025, they have served over 25 clients across Asia, USA and Australia. Their operations span multiple industries, including chemical manufacturing, logistics, retail, medical equipment manufacturing and consumer packaged goods, enabling them to leverage domain expertise across both technology consulting and Digital Workers offerings.

As of 31 March 2025, the company’s Total Income, Profit After Tax, and EBITDA were ₹72.637 crores, ₹8.180 crores, and ₹11.093 crores, respectively.

How to apply for Intellius Recode IPO?

• Step 1: Log in to your Kotak Neo Demat account to access IPO investments. Next, select the current IPO section.

• Step 2: Specify IPO details. Enter the number of lots and the price you wish to apply for.

• Step 3: Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

• Step 4: Mandate Notification. Your UPI app will receive a mandate notification to block funds.

• Step 5: Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.