Upskilling startup Intellipaat taps EY for pre-IPO fundraise

Bootstrapped upskilling firm Intellipaat Software Solutions Pvt. Ltd has appointed consultancy major EY to advise on its fundraising plans as it targets a revenue of ₹700-800 crore over the next two years, a top executive of the firm told Mint.

- Mansi Verma

To fund the next phase of growth, the company is exploring a pre-initial public offering (IPO) private equity round of about ₹500 crore, before an approximately ₹800 crore IPO within 12-16 months, said founder and chief executive officer Diwakar Chittora.

While the company has not appointed a banker for its IPO yet, EY will advise Intellipaat on its pre-IPO fundraising. "We have multiple business lines, each with significant growth potential. That said, our immediate target for the next one and a half to two years is to reach a revenue of around ₹700-800 crore," Chittora said. "We also have a very clear vision for the future, with plans to go public in the next 12 to 16 months."