Mumbai-based sales and demand-generation specialist Novavente has submitted its issue papers with the National Stock Exchange (NSE), signaling its intent to go public. The IPO will be a fresh issue of up to 13,34,000 equity shares. Khambatta Securities has been appointed as the lead manager and MUFG Intime has been named as the registrar to the issue.
Promoters & Business Overview
Founded in 2016 by first-generation entrepreneurs Mr. Ronak Rajan and Mr. Samrat Dilip Parasnis, Novavente has positioned itself as a leading global sales organization. The company provides an array of services, including Sales-as-a-Managed Service, Demand Generation-as-a-Service, End-to-End Sales Solutions, The Sales School, and its proprietary SalesMinds Gen-AI Platform. Its clientele spans industries such as IT, software, engineering, energy, defense, aerospace, and media, with a strong global footprint across the USA, Europe, UK, Middle East, and Africa.
With a 44-member team stationed at its Navi Mumbai headquarters, Novavente has helped numerous Fortune 500 and funded tech companies optimize sales pipelines and expand into new markets. The company also leverages modern AI-driven tools to enhance sales intelligence and client engagement.
Novavente IPO – Utilization of IPO Fund
Novavente aims to deploy IPO proceeds into key growth areas:
- INR 6.00 crore for working capital needs.
- INR 2.50 crore for acquiring the usage rights of the SalesMinds platform from Thought Minds Systems.
- INR 3.64 crore to develop The Sales School, an online technology sales training and career program.
- The remaining amount will be allocated towards inorganic growth through acquisitions and other strategic initiatives, with no more than 15% of the raised capital earmarked for these purposes.
Financial Performance
Novavente’s financials reflect strong revenue growth and profitability. For the six-month period ending 30 September 2024, the company posted a total revenue of INR 6.59 crore, surpassing the INR 6.28 crore revenue in FY24. Profit after tax (PAT) stood at INR 1.94 crore for the half-year, following INR 1.98 crore in FY24. The company’s EBITDA margins appear strong, with consistent revenue growth driven by increasing demand for sales acceleration and AI-driven lead generation.
Key Collaborations & Expansion Strategy
Novavente has entered into strategic agreements with several notable firms, including:
- Geomage (Software Sales and Services)
- Thought Minds Systems (Software Sales and Services)
- Bajaj Finserv Direct (Lead Generation Consultant Agreement)
- Pharmalancers (Sales Partner Agreement)
- Exathought Technology Consulting (Consultant Agreement)
- Thermax (Master Service Agreement for chemical division sales support)
These collaborations enhance Novavente’s B2B sales expertise while extending its market reach into various industries.
Growth Outlook & Market Positioning
Novavente is banking on the global digital transformation trend as companies increasingly seek outsourced sales solutions and AI-powered revenue intelligence platforms. With its robust financials, AI-driven sales approach, and strategic partnerships, the company is well-positioned for rapid expansion in both domestic and international markets.
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