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Medibuddy eyes $130 million in pre-IPO
Economic Times
ยท
2m ago
Medial
Health-tech firm Medibuddy initially sought to raise $130 million in a pre-IPO round but clarified it's targeting $60 million instead. The fundraising, led by Avendus Capital, includes $25-30 million in primary capital and $30-35 million for secondary investors, primarily offering exits for early angel investors. Medibuddy, founded by IIT Madras alumni, prioritizes building a sustainable healthcare market leader and is not rushing towards an IPO, despite its long-term plans.
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MENA Digest: Salla gets $130 mn in pre-IPO funding; Arcapita raises $500-mn fund
VCCircle
ยท
1y ago
Medial
Saudi software startup Salla has raised $130 million in a pre-IPO funding round led by Investcorp, Sanabil Investments, and STV. This surge in dealmaking activity showcases the growing investment interest in the Middle East and North Africa (MENA) region. Additionally, Arcapita has successfully closed a $500 million fund, further highlighting the region as an attractive market for investors.
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Boatโs parent Imagine Marketing files for IPO; eyes valuation of over $1.5 billion
Economic Times
ยท
4m ago
Medial
Imagine Marketing, owner of consumer device maker Boat, has filed draft IPO documents with India's SEBI using a confidential route. The company previously planned a Rs 2,000 crore IPO in 2022 but paused due to market conditions, opting instead for $60 million in private funding. Now, it prepares for a $300-500 million IPO, aiming for a valuation over $1.5 billion. Under SEBI's pre-filing scheme, details remain undisclosed until a more final decision.
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Zepto eyes $250 mn from HNIs, wealth firms at flat valuation
Livemint
ยท
8m ago
Medial
Quick commerce startup Zepto is reportedly seeking to raise about $250 million from high-net-worth individuals and wealth management firms at a valuation of $5 billion. The Mumbai-based company, which plans to go public next year, aims to balance its captable ahead of its IPO. Zepto recently raised $340 million in a funding round led by General Catalyst, and in a pre-IPO round, it secured $665 million. The company is expanding its network of dark stores and its Zepto Cafรฉ service to compete with food delivery platforms like Swiggy and Zomato in the quick-commerce sector.
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Carlyle-backed Varmora eyes funding; Axis Cap appoints new ECM head
VCCircle
ยท
1y ago
Medial
Sanitaryware manufacturer Varmora Granito, backed by Carlyle Group, aims to raise $100-150 million in a pre-IPO funding round, valuing the company at around $600 million. The fundraising will involve primary and secondary investments from private equity investors, with significant interest from GIC and other funds. Meanwhile, Axis Capital has appointed a new Head of Equity Capital Markets (ECM) to strengthen and expand its ECM business.
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Accel eyes partial exits from multiple early investments
Livemint
ยท
10m ago
Medial
Venture capital firm Accel is considering selling partial stakes in its portfolio companies, including Swiggy, Urban Company, BlackBuck, and BlueStone, to create liquidity. The sales are expected to involve a mix of pre-IPO secondary sales and offer-for-sale transactions in upcoming IPOs. Accel aims to return capital to limited partners and has been invested in these companies for a long time. The firm plans to find pre-IPO exit opportunities or public market exits and is actively looking at secondary opportunities. The timing of the IPOs may vary among the companies.
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Axis PE, other backers get a mark-up as Gopal Snacks eyes over $670 mn tag
VCCircle
ยท
1y ago
Medial
Private equity investors who purchased a small stake in Gopal Snacks Ltd in a pre-IPO secondary transaction last October are set to benefit as the food company prepares to launch its IPO. Gopal Snacks, known for its fried snacks and potato wafers, plans to go public next week. The investors, including Axis PE, are expected to make a significant profit as the company is valued at over $670 million.
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How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO
VCCircle
ยท
1y ago
Medial
Non-banking lender SK Finance is preparing for an initial public offering (IPO) and is eyeing a valuation of $1 billion. The company recently concluded a pre-IPO funding round worth $160 million from new investors such as Motilal Oswal Alternates and existing backers including TPG Growth. With this IPO, both Norwest and TPG stand to make significant profits. SK Finance aims to raise additional capital to fuel its growth and expand its operations in the non-banking financial sector.
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Groww files draft papers for IPO, eyes $700 million to $1 billion listing
Economic Times
ยท
2m ago
Medial
Online investment platform Groww has confidentially filed a draft red herring prospectus with the Securities and Exchange Board of India for an estimated $700 million to $1 billion initial public offering. Ahead of the listing, Singaporeโs GIC plans to acquire a 2.14% stake in Groww as part of a $250 million to $300 million pre-IPO round, potentially valuing Groww at around $7 billion. Groww reported an operating revenue of Rs 3,145 crore for FY24.
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Neuberg Diagnostics eyes pre-IPO funding; Tatas in talks for Fabindia stake
VCCircle
ยท
1y ago
Medial
Neuberg Diagnostics, a leading diagnostics chain, aims to raise approximately $100 million from private equity investors as part of its pre-IPO funding. The company, supported by healthcare entrepreneur GSK Velu, has engaged investment bank o3 Capital to facilitate the funding. Meanwhile, the Tata Group is reportedly in discussions to acquire a stake in Fabindia, the renowned Indian retail brand known for its ethnic products.
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Ratan Tata-Backed BlueStone Eyes Unicorn Tag In Pre-IPO Round
Inc42
ยท
1y ago
Medial
BlueStone, a Bengaluru-based startup, has received multiple bids from investors in its pre-IPO round, with some valuing the company at over $1 billion. The company is targeting profitability by March next year and plans to raise INR 2,000 crore through its IPO, which is expected to be launched later this year.
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