🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

TPG-backed Sai Life Sciences plans IPO with Rs 800 Cr fresh issue, OFS

YourStoryYourStory · 1y ago
TPG-backed Sai Life Sciences plans IPO with Rs 800 Cr fresh issue, OFS
Medial

Sai Life Sciences, backed by private equity firm TPG Capital, has filed preliminary papers for an initial public offering (IPO). The IPO will consist of a fresh issue of equity shares worth INR 800 crore and an offer-for-sale of 6.15 crore shares by existing shareholders. The proceeds will be used for debt repayment and general corporate purposes. Sai Life Sciences offers services across the drug discovery, development, and manufacturing value chain and operates in the rapidly growing Indian CRDMO (contract research, development, and manufacturing organization) market. Kotak Mahindra Capital, IIFL Securities, Jefferies India, and Morgan Stanley India have been appointed as merchant bankers for the IPO.

Related News

Curefoods raises Rs 160 Cr in pre-IPO placement from Binny Bansal’s 3State Ventures

EntrackrEntrackr · 26d ago
Curefoods raises Rs 160 Cr in pre-IPO placement from Binny Bansal’s 3State Ventures
Medial

Curefoods raises Rs 160 Cr in pre-IPO placement from Binny Bansal’s 3State Ventures Cloud kitchen operator Curefoods has raised Rs 160 crore ($18 million) in a pre-IPO placement from 3State Ventures, the investment arm of Flipkart co-founder Binny Bansal. According to the press release, Curefoods has allotted 1.28 crore equity shares at Rs 124 per share to 3State Ventures. The Bengaluru-based firm had filed its draft red herring prospectus (DRHP) in June to raise Rs 800 crore through a fresh issue along with an offer for sale (OFS) of 4.08 crore shares by early investors, including Iron Pillar, Chiratae Ventures, Crimson Winter, Accel, and Curefit Healthcare, among others. Founder and CEO Ankit Nagori will not participate in the OFS. As per the DRHP, the company plans to use the proceeds from the fresh issue to expand its network of cloud kitchens, restaurants, kiosks, and central kitchens, repay debt, invest in its subsidiary Fan Hospitality, and cover working capital and general corporate expenses. JM Financial, IIFL Capital, and Nuvama Wealth Management are the book-running lead managers to the issue. Curefoods operates a multi-brand cloud kitchen business across categories like Indian meals, pizza, desserts, and health-focused food. Its portfolio brands include EatFit, CakeZone, Nomad Pizza, Frozen Bottle, Sharief Bhai, and Krispy Kreme. The company closed FY25 with revenue of Rs 745.8 crore, up from Rs 585.1 crore in FY24, while losses narrowed to Rs 170 crore from Rs 172.6 crore in the previous year. Backed by marquee investors including Binny Bansal, Curefoods has rapidly scaled to over 500 service locations across more than 70 cities. It also expanded overseas last year with the launch of Sharief Bhai in the UAE. The pre-IPO funding from 3State Ventures is expected to reduce the size of the fresh issue in Curefoods’ upcoming IPO.

Download the medial app to read full posts, comements and news.