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Spotlight: Can Warburg-backed insurer IndiaFirst pick up pace after dropping IPO plan?

VCCircle

VCCircle · 10m ago

Spotlight: Can Warburg-backed insurer IndiaFirst pick up pace after dropping IPO plan?

- IndiaFirst Life Insurance Company Ltd recorded higher earnings and new business premium for the year through March 2024. - The company let regulatory approval to float an initial public offering lapse earlier this year. - The Warburg Pincus-backed insurer experienced a drop in other key metrics, affecting its profit outlook. - Despite the challenges, IndiaFirst Life Insurance is expected to pick up pace and improve its performance. - The spotlight is on the company's CEO, Rushabh Gandhi, and his strategy to steer the insurer back on track. - The decision not to proceed with the IPO has raised questions about the company's future plans and growth trajectory.

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Warburg Pincus-backed Fortegra Group aims to raise $324 million in US IPO

Reuters · 1y ago

Warburg Pincus-backed Fortegra Group aims to raise $324 million in US IPO

Fortegra Group, backed by private equity firm Warburg Pincus, plans to raise up to $324 million through an initial public offering (IPO) in New York. The specialty insurance company aims to sell 18 million shares priced between $15 and $18 each. The IPO will be led by Goldman Sachs, JPMorgan, Jefferies, and Barclays.

Seeing signs of improvement in deals ecosystem: Anicut’s Ashvin Chadha

VCCircle

VCCircle · 1y ago

Seeing signs of improvement in deals ecosystem: Anicut’s Ashvin Chadha

Anicut Capital, an Indian asset manager, is optimistic about the deals ecosystem as they notice signs of improvement in deal closures. Despite global slow-down, Anicut's co-founder, Ashvin Chadha, believes that India remains resilient. The asset manager expects the pace of deals to pick up by the second half of this year.

Growing faster than industry, to maintain pace: PE-backed Home First Finance’s CEO

VCCircle

VCCircle · 5m ago

Growing faster than industry, to maintain pace: PE-backed Home First Finance’s CEO

Home First Finance Company India Ltd, a private equity-backed mortgage lender, experienced a significant 33% growth in assets under management, reaching Rs 11,949 crore by December 31. This expansion was primarily fueled by an increase in disbursements. The company, supported by firms like Warburg Pincus and True North, aims to maintain this rapid growth pace, surpassing industry standards. CEO Manoj Viswanathan spearheads these efforts, focusing on strategic measures to continue the upward trajectory.

Meesho Unveils INR 411 Cr Bonus Share Plan Ahead of IPO

StartupTalky

StartupTalky · 2m ago

Meesho Unveils INR 411 Cr Bonus Share Plan Ahead of IPO

Meesho, an e-commerce giant, has announced a plan to issue INR 411.4 crore in bonus shares ahead of its upcoming IPO. The plan, approved by shareholders, proposes issuing one bonus share per existing share in a 47:1 ratio. This will increase Meesho's paid-up share capital significantly. Backed by notable investors and focusing on Tier II and III cities, Meesho has seen substantial growth and plans to raise up to $1 billion with its IPO by the end of 2025.

How Warburg, Kedaara, IFC's bet played out as Avanse seeks over $1.2-bn valuation

VCCircle

VCCircle · 1y ago

How Warburg, Kedaara, IFC's bet played out as Avanse seeks over $1.2-bn valuation

Avanse Financial Services, a company backed by private equity firms Warburg Pincus, Kedaara Capital, and IFC, is preparing for its initial public offering (IPO). With a valuation target of over $1.2 billion, the IPO will offer an opportunity for the investors to exit. Avanse Financial Services is a non-banking financial company that specializes in providing education loans.

Warburg-backed Perfios weighing $500 million IPO

Economic Times

Economic Times · 1y ago

Warburg-backed Perfios weighing $500 million IPO

Perfios, a fintech startup backed by Warburg Pincus, is reportedly considering an initial public offering (IPO) worth $500 million. The company, which provides digital financial analysis solutions to banks and other financial institutions, is said to be in talks with potential advisors for the IPO. Perfios aims to leverage the growing demand for digital financial services in India and expand its product offerings.

Warburg Pincus-backed boAt revives IPO plan, taps bankers

VCCircle

VCCircle · 6m ago

Warburg Pincus-backed boAt revives IPO plan, taps bankers

boAt, an audio products and wearables brand backed by Warburg Pincus, is preparing to revive its initial public offering (IPO) plans after more than two years. The company has engaged bankers to facilitate the process. Previously, boAt had shelved its IPO plans but is now looking to go public, highlighting a strategic move towards expanding its financial and market reach.

Avanse Financial shortlists bankers ahead of IPO; GMR Airports raises debt

VCCircle

VCCircle · 1y ago

Avanse Financial shortlists bankers ahead of IPO; GMR Airports raises debt

Avanse Financial Services, backed by Warburg Pincus, Kedaara Capital, and the International Finance Corporation, has shortlisted six bankers for its upcoming IPO. The Mumbai-based education loan non-banking company plans to raise Rs 4,000 crore through the IPO. Kotak Mahindra has been chosen as one of the shortlisted bankers. In another news, GMR Airports has raised debt for its ongoing airport expansion projects.

True North plans exit move as Niva Bupa prepares for $360-mn IPO

VCCircle

VCCircle · 1y ago

True North plans exit move as Niva Bupa prepares for $360-mn IPO

Indian health insurer Niva Bupa is preparing to raise $360 million in an initial public offering (IPO), with a potential valuation of up to $2.5 billion. Bupa, which currently holds a 63% stake in the Indian venture, plans to sell a small stake worth up to $38 million, while private equity firm True North intends to sell a stake worth up to $225 million. Niva Bupa has hired Morgan Stanley and several Indian banks for the IPO, and plans to use the funds to strengthen its balance sheet and cover operating expenses.

Warburg, Kedaara-backed Avanse Financial gets SEBI approval for IPO

VCCircle

VCCircle · 9m ago

Warburg, Kedaara-backed Avanse Financial gets SEBI approval for IPO

Avanse Financial Services, an education loan provider backed by private equity firms Warburg Pincus and Kedaara Capital, has received approval from the Securities and Exchange Board of India (SEBI) for its initial public offering (IPO). The company aims to raise Rs 1,000 crore through a fresh issue of shares, along with an offer for sale of Rs 2,500 crore. The proposed IPO would value Avanse at at least $1.2 billion. NTPC Green Energy, a subsidiary of state-run power producer NTPC Ltd, also received SEBI approval for its planned Rs 10,000 crore IPO.

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