Cogent IPO

Cogent E-services Limited has established themselves as among their clients’ most trusted and reliable service partners in redefining customer experience management in the digital age (Source: Zinnov Report). Cogent IPO will hit the stock market in July 2022.

About Cogent

They are a provider of end-to-end multichannel customer experience solutions that help organisations and brands engage with their customers, transform customer experience throughout all touchpoints and channels, and enhance response times, business outcomes, and productivity.

They help evaluate, customise, and execute CX strategies and programmes for their clients, based on their insights on customer behaviour and priorities throughout industry verticals derived from their analysis of data collected from user interactions over time, as well as their industry and technology expertise, to identify their clients’ requires at all stages of their CX path.

They provide omnichannel solutions for a wide range of customer engagement touchpoints, including customer sales and support via voice and non-voice channels, back office solutions, and transformative services.

Footprints

They were founded in 2004 and have since grown and expanded. They are based in Noida, and as of September 30, 2021, they had 9,022 full-time equivalent Customer Service Associates and 7,609 seats spread throughout 14 facilities in India (Noida, Vadodara, Bengaluru, Mangaluru, Meerut, Bareilly, and Thane).

They extended to include two new sites in Mangaluru and Thane which bringing their total number of sites to 16 as of November 30, 2021.

Their geographic expansion throughout cities offers them with a diverse talent pool and vernacular functionality, allowing them to serve customers in more than ten languages, including English, Hindi, and regional languages like Gujarati, Marathi, Tamil, Telugu, Kannada, Malayalam, Punjabi, and Bangla.

Growth

The India CXM addressed market grew at a rate of around 7% CAGR (2018-20) and is anticipated to grow at a rate of around 9% CAGR (2020-24), they saw revenue growth of around 31% between 2019 and 21, outpacing the industry.

Their regional presence and concentration on high-growth verticals made this possible. They are among the few organisations with positive revenue growth estimates in 2021, based on publicly stated financials of specific CXM focused service providers with a presence in the India market.

They are the only participant in Zinnov’s comparison set that has both high EBITDA margins and high cumulative growth, relying on publicly available information from certain CXM focused service providers with a presence in the India market.

Cogent IPO

Cogent E-services Limited, headquartered in New Delhi has submitted Draft Red Herring Prospectus(DRHP) to Securities and Exchange Board of India(SEBI) for initial public offering (IPO) of 150 Crores & 9,468,297 equity shares on 04 February 2022.

The offer includes a fresh issue of INR 150 crore and there is offer for sale (OFS) of 9,468,297 equity shares by the promoters mentioned in the DRHP. They are looking for a Pre-IPO placement of 30 crore in this issue.

They are now waiting for approval from Securities and Exchange Board of India(SEBI) to float the initial public offering (IPO) in the market.

Financials Trends

Particulars	For the year/period ended ( in Cr.)
	30-Sep-21	31-Mar-21	31-Mar-20	31-Mar-19
Total Assets	174.86	144.02	151.13	107.89
Total Revenue	180.95	275.11	248.42	159.78
Profit After Tax	24.31	20.12	8.89	4.64

Basic and Diluted Earnings Per Share

Financial Period	Basic EPS (in INR)	Diluted EPS (in INR)	Weight
Financial Year 2021	6.22	6.22	3
Financial Year 2020	2.75	2.75	2
Financial Year 2019	1.43	1.43	1
Weighted Average	4.27	4.27
30 Sep. 2021	7.51	7.51

Objects of the Issue

• Prepayment / repayment of all or a portion of the outstanding borrowings of the company to be availed on consolidated basis.
• To meet common corporate objectives.

Basis of the offer

The following are among the qualitative elements and their strengths that are used to calculate the Offer Price:

1. Clients receive customised solutions from a one-stop shop CX solutions provider with omnichannel capabilities.
2. In the Indian market, they have excellent domain information across industrial verticals, allowing them to be more agile in the process.
3. Their time to market is reduced by integrating across regions and sites.
4. Financial success that has been proven.

Cogent E-services Limited Comparison

There are no publicly traded organizations in India that operate in a similar industry to theirs. As a result, providing an industry analysis in relation to their company is impossible.

Cogent IPO Details

IPO Opening Date	July 2022
IPO Closing Date	July 2022
Issue Type	Book Building
Face Value	2 per share
IPO Price	0 to 0 per equity share
Market Lot	–
Min Amount	–
Listing At	BSE, NSE
Issue Size	–
Fresh Issue	150 Crore
Offer for Sale	9,468,297 Equity Shares

Cogent IPO Date

Cogent E-services IPO opening date is July 2022, and the closing date is July 2022. The Cogent E-Services issue may list in July 2022.

IPO Opening Date	July 2022
IPO Closing Date	July 2022
Basis of Allotment Date	July 2022
Initiation of Refunds	July 2022
Credit of Shares to Demat Account	July 2022
IPO Listing Date	July 2022

Basis of Allotment

Type	% of Offer	Basis of Allotment
Qualified Institutional Buyer	50	Roughly  equivalent
Non Institutional Investor	15	Roughly  equivalent
Retail	35	Minimum 1 lot based on availability

Cogent E-services IPO Status

Allotment of equity stocks subject to the Fresh Issue and transfer of the Promoter Selling Shareholders’ OFS Stocks to the winning Bidders subject to the Offer for Sale. Nevertheless, the status of the allotment has yet to be revealed.

Here, you can find the Allotment Status of Cogent e-services IPO.

Cogent IPO GMP

Cogent IPO Grey Market Premium is 0. You can check out GMP of Other IPOs on below Links:

Date	GMP (in Rs)	Subject to Sauda	Kostak (in Rs)
July 2022
July 2022
July 2022
July 2022
July 2022
July 2022
July 2022
July 2022
July 2022
July 2022
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July 2022

Check Out the GMP of all Other IPOs

IPO Grey Market Premium

Cogent E-services IPO Review

Cogent E-services IPO review will depend on the price band which will be announced after SEBI approval. Whenever it will be announced we will update you regarding review of Cogent IPO is good or bad.

Cogent E-services IPO Risk

1. They operate in a highly competitive atmosphere, and any inability to properly compete against current and future competitors could have a negative impact on their revenue.
2. Their business may be considerably and negatively harmed if they do not develop and improve their tools, platforms, and procedures.
3. They rely on a small number of clients for a significant amount of their revenue.
4. The COVID-19 pandemic, or any public health hazard, might have a negative impact on their business.
5. They usually do not have long-term contracts with their customers.
6. Their revenues are reliant on a small number of industry verticals, and any reduction in demand for services in these verticals might lower revenues and have a materially negative impact on their business.

Other Threats

1. If they are unable to maintain pricing, or develop their business through increased client engagements, their profitability will suffer.
2. Breach of security, attacks, and unauthorised information exposure, could jeopardise their reputation.
3. Their sales efforts take a lot of time and money, and the sales or credit cycle can take a long period.
4. Employee fraud or misbehaviour, whether internal or external, could have a negative impact on their firm.
5. They rely on technology from other parties to deliver their services and their failure to get these technologies could jeopardise their operations.
6. Certain legal processes are pending against their company, promoters, and certain of its directors. Any negative decision in such processes could  have a negative impact on their business.

Clients

Major corporations from more than ten industry verticals, including banking and financial services, e-commerce, direct-to-home television, telecommunications (along with internet service providers), consumer goods, fast-moving consumer goods and retail, schooling, leisure and tourism, logistics, and automotive, were among their clients as of September 30, 2021.

They had 57 clients & Their revenue from their main five clients (based on total revenue) was 59.7%, 58.5 percent, 64.4 percent, and 61.0 percent in fiscal years 2019, 2020, and 2021, and for the six months ending September 30, 2021, respectively.

Their turnover from their top 10 clients was 78.3 percent, 78.1 percent, 81.2 percent, and 82.3 percent in fiscal years 2019, 2020, and 2021, and for the six months ending September 30, 2021.

CX Lab

They use the knowledge gained from their CX Lab’s proprietary datasets on how different technologies in the CX ecosystem interact and connect with one another to develop and integrate technology that better serves their clients.

They can also combine in-house developed technology with third-party technologies and platforms to solve operational difficulties faced by their clients.

Their in-house development team, for example, added a background noise cancellation application into their voice assistance to support minimise background noise and provide a better user experience at their call centres.

They constructed a CRM system and combined it with an API – SMS to help their customer monitor and service vehicle failures and location tracking, for example.

Cogent E-services IPO Brokerage views

Here is the views of different stock brokers regarding this IPO:

• Yes Securities : Not Updated
• Choice Brokering: Not Updated
• Axis Securities: Not Updated
• IIFL Securities: Not Updated
• Trade swift: Not Updated
• Anand Rathi : Not Updated
• ICICI Securities: Not Updated

Cogent E-services IPO Subscription Status

Date	Day	QIB	NII	Retail	Employees	Total Subscription
July 2022	1
July 2022	2
July 2022	3

Management

They have an experienced management team that understands the sector as well as the needs of its clientele. Abhinav Singh, Gaurav Abrol, and Pranjal Kumar, its co-founders and Promoters and Directors, have all worked in the field of CXM and have been essential in the company’s success from its beginning.

An experienced board and management team with expertise across key functional areas supports their co-founders and Promoters.

Their board and management team’s practical knowledge and business skills have aided and will continue to aide them in driving their growth and operating performance.

Promoters

• Abhinav Singh
• Arunabh Singh
• Gaurav Abrol
• Pranjal Kumar
• Boomerang
• TSSR

Promoter’s Holding

Pre Issue Share Holding	99.99%
Post Issue Share Holding

Cogent E-services Limited Prospectus