ReCode Solutions Inc, the promoter of IPO-bound Intellius Recode, has completed a significant stake sale worth ₹18 crore. According to a disclosure to the company on October 22, the promoter transferred 5.43 lakh equity shares, representing 5.43% of the company's pre-offer paid-up equity capital. The shares were transferred to investors at ₹331 apiece, valuing the company at approximately ₹480 crore.
Several investors participated in the stake acquisition, with Vanaja Iyer and Siddharth Iyer acquiring additional shares for ₹5 crore and ₹2 crore respectively. Other investors included Nishant Aggarwal, Pranav Naresh Chheda, Varsha Jitesh Jain and J Siddharth. As reported by the company disclosure, this transaction involved the promoter selling shares to investors ahead of the planned IPO.
Intellius Recode entered the IPO pipeline in March 2026 by filing its draft offer document with the Securities and Exchange Board of India (SEBI). The market regulator cleared the company's IPO papers in July 2026. According to the draft red herring prospectus (DRHP), the proposed initial public offering comprises a fresh issue of shares worth ₹117 crore and an offer for sale (OFS) of up to 12.9 lakh shares by promoter ReCode Solutions Inc.
Founded in 2018 by Prasanna Srinivasan Ramaswamy and Sivathanupillai Adhikesaven Nadarajapillai, Intellius Recode provides technology consulting services and develops products powered by agentic artificial intelligence (AI). The company's offerings are designed to support enterprises across geographies through autonomous, context-aware and adaptive AI capabilities. Of the net proceeds from the fresh issue, ₹43.1 crore will be used to fund the development of digital workers, while ₹38.4 crore will be allocated towards subcontracting fees for their development, with the remaining proceeds for general corporate purposes.
According to the draft red herring prospectus, the promoter held an 86.8% stake in the company, while the remaining 13.17% was held by public shareholders, including Franklin Street, Vanaja Sundar Iyer, Subkam Ventures and Siddharth Iyer. Inga Ventures has been appointed as the merchant banker for the Intellius Recode IPO.
