Intellipaat seeks ₹500 crore pre-IPO funds

Intellipaat Software Solutions is preparing for significant growth and is planning to go public in the near future. The company has hired consultancy EY to help with fundraising ahead of an initial public offering (IPO). Intellipaat aims to raise about ₹500 crore through a private equity round before its IPO, which is expected to be worth around ₹800 crore in the next 12 to 16 months. Founded in 2011, Intellipaat reported a revenue of ₹182.9 crore for 2023-24, a notable increase from ₹70.5 crore in 2021-22. This growth has been driven by rising demand for courses in data science and artificial intelligence, especially in the latter part of 2022. Intellipaat held back on marketing during peak funding years but ramped up spending when competitors ran out of funds. The company plans to diversify its offerings and expects to generate ₹700-800 crore in revenue within the next two years. Intellipaat is expanding from technology certification courses to management programs and offline centers, starting in Bengaluru, and launching international study opportunities. The CEO, Diwakar Chittora, believes this aggressive target is achievable due to the introduction of these new business lines. Currently, most of Intellipaat's revenue comes from individual learners, with a smaller portion from corporate partnerships. The company works with clients like Wipro and Adobe. Chittora highlighted the importance of finding investors who support sustainable growth, rather than focusing solely on rapid expansion at any cost. This approach has made Intellipaat an attractive option for investors looking for a more stable business model in the edtech sector.