Intellius Recode (NEW IPO): GMP, Profit, Price & expert review

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Intellius Recode Limited is a digital automation and AI solutions provider specializing in “Agentic AI” and digital workers. Founded in 2018, the Chennai-based company offers technology consulting, data analytics, and robotic process automation to streamline enterprise workflows and enhance operational efficiency.

Intellius Recode Limited was incorporated on July 9, 2018 & currently Mr. Pradeep Jeyaraj serves as the Managing Director, while Prasanna Srinivasan Ramaswamy acts as the Chairman of the company.
It offers Agentic AI-based “digital workers” and technology consulting, including RPA, data analytics, computer vision, and digital commerce solutions.

Intellius Recode Limited has filed its DRHP with SEBI for a proposed IPO featuring a Fresh issue of ₹ 117 Crore and an Offer for Sale (OFS) of 1,290,000 Equity Shares.

Subscription date to apply for Intellius Recode Limited is yet to be announced. Price band for the IPO is yet to be declared.

Check DRHP
Check IPO Allotment
Visit OfficialWebsite
Issue Size:₹ 117 Cr + 1,290,000 Equity Shares
Fresh Issue:₹ 117 Cr
Offer for Sale:1,290,000 Equity Shares
Price Range:TBA
Lot Size:TBA
GMPPending

Intellius Recode Limited important data points

Revenue, PAT, EBITDA

YearFiscal 2025
Networth₹ 1.48Cr
Revenue:₹ 70.38 Cr
EBITDA₹ 11.09 Cr
EBITDA Margin:~15.67%
PAT₹ 8.18 Cr
PAT Margin~ 11.55%
Face Value:₹ 10

IPO important dates

Open Date:TBA
Close Date:TBA
Anchor Investor BiddingTBA
Allotment Date:TBA
Refunds & Demat CreditTBA
Tentative Listing Date:TBA

Use of Proceeds

PurposeAmount
Development of Digital Workers~ ₹ 43.1 Cr
Development of Digital Workers ~ ₹ 38.48 Cr
Sales and Marketing~ ₹ 00 Cr
Ultra-Advanced AI Staffing Suite ₹ 00 Cr

Intellius Recode Limited Financial Data

202320242025
Revenue (₹ Cr)₹ 62.6₹ 78.38₹ 78.38
PAT (₹ Cr)₹ 5.24₹ 9.07₹ 2.8
Asset (₹ Cr)₹ 28.6₹ 35.22₹ 44.26
Net Worth (₹ Cr)₹ 1.42₹ 1.42₹ 1.48

Intellius Recode Limited IPO Grey Market Premium

DateIPO PriceIPO GMPProfit per lot
14-Apr₹ –₹ –₹ –
13-Apr₹ –₹ –₹ –
12-Apr₹ –₹ –₹ –
11-Apr₹ –₹ –₹ –
10-Apr₹ –₹ –₹ –
Intellius Recode Limited

Intellius Recode Limited IPO Pros & Cons

Strengths:

  • Niche AI Focus: Specialization in “Agentic AI” and digital workers positions the company in a high-growth sector.
  • Global Revenue Stream: Over 90% of revenue comes from international markets, specifically high-value clients in the USA.
  • Improving Profitability: EBITDA margins showed strong growth, rising significantly from 10.6% to 15.7% from FY23 to FY25.
  • Customer Stickiness: High proportion of repeat business with long-term enterprise clients demonstrates strong trust and reliability.
  • Early Mover Advantage: Proprietary software-driven virtual employees provide a competitive edge in the automation-led digital transformation space.

Risks:

  • Customer Concentration: Top 10 clients contribute over 90% of total revenue, creating high dependency and risk.
  • Financial Volatility: Recent reports show an 11% decline in both revenue and profit for Fiscal 2025.
  • Monetization Stages: The AI “Digital Worker” segment is still early-stage and not yet a primary revenue contributor.
  • High Competition: Faces intense pressure from much larger, well-capitalized listed tech giants like Happiest Minds and Coforge.
  • Geographic Risk: Heavy reliance on the US market exposes the company to global economic and currency fluctuations

Intellius Recode Limited
Promoters – Pre offer equity (Approx)

Promoters%Shares
ReCode Solutions Inc.~ 86.83 %
Sivathanupillai Adhikesaven Nadarajapillai~ 00.01 %
Prasanna Srinivasan RamaswamyNegligible
–
–
–

Intellius Recode Limited Promoters – Pre offer equity (Approx)

Application TypeLot SizeNo. of LotNo. of SharesInvestment Amount
Retail (Min)–1–₹ –
Retail (Max)–13–₹ –
HNI (Min)–14–₹ –
HNI (Max)–66–₹ –
Big HNI (Min)–67–₹ –

Lead Managers / Registrars of Intellius Recode Limited

Lead / Book Running Lead ManagersInga Ventures Private Limited
Registrar (RTA)MUFG Intime India Private Limited

FAQ’S of Intellius Recode Limited

  • It provides AI-led automation and digital worker solutions, specializing in technology consulting and enterprise digital transformation.

  • Intellius Recode Limited is raising funds via IPO to develop proprietary digital workers, pay sub-contracting fees, and for general corporate purposes.

  • The IPO includes a Fresh Issue of ₹117 Crore and an Offer for Sale (OFS) of 12.9 lakh shares. It will be listed on NSE and BSE platform.

  • Key risks include high customer concentration (90%+ revenue from top 10 clients) and heavy geographic reliance on the US market.

  • Potential upsides include growing demand for Agentic AI and strong global expansion with high-margin international clients.

  • Investors can apply for the IPO through ASBA via net banking or using UPI through registered stock brokers once the IPO opens for subscription.

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