ReCode Solutions Inc, the promoter of IPO-bound Intellius Recode, a technology solutions provider, has offloaded a 5.4 percent stake in the company for Rs 18 crore.
The shares were transferred to investors at Rs 331 apiece, valuing the company at approximately Rs 480 crore.
In a disclosure to the company on October 22, the promoter, which is also the selling shareholder in the proposed IPO, said it had transferred 5.43 lakh equity shares, representing 5.43 percent of the company’s pre-offer paid-up equity capital.
Wealthwave Capital Trust, sponsored by Choice International, acquired 1.81 lakh shares through Wealthwave Capital Fund for Rs 6 crore, emerging as the largest buyer among the seven investors.
Vanaja Iyer and Siddharth Iyer acquired additional 1.51 lakh shares and 60,422 shares, respectively, for Rs 5 crore and Rs 2 crore. Nishant Aggarwal, Pranav Naresh Chheda, Varsha Jitesh Jain and J Siddharth were among the other investors.