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WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO

EntrackrEntrackr · 1y ago
WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO
Medial

WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO Workspace provider IndiQube has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 750 crore (approximately $89 million) and an offer for sale (OFS) of equity shares amounting to Rs 100 crore. Co-founders Rishi Das and Meghna Agarwal will each sell shares worth Rs 50 crore through the OFS. Notably, no external shareholders are participating in the OFS, highlighting the founders' significant role in the offering. According to the DRHP, Anshuman Das is IndiQube's largest shareholder, holding 25.32%, followed by Aravali Investment Holding with 22.07%. Other notable shareholders include WestBridge Capital (5.79%), Carenet Technologies (5.15%), and Hirepro Consulting (2.15%). The company's co-founders, Rishi Das and Meghna Agarwal, cumulatively own 37.92% of the company. IndiQube plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by ICICI Securities Limited and JM Financial, who are acting as the book-running lead managers. According to the company, the net proceeds from the fresh issue will be utilized for the establishment of new centers, repayment of borrowings, and other general corporate purposes. In the first quarter of the ongoing fiscal year, IndiQube reported revenue of Rs 242 crore, while its losses stood at Rs 42 crore. The WestBridge Capital-backed firm achieved a 43% year-on-year growth in revenue, reaching Rs 830 crore in FY24, up from Rs 580 crore in FY23. However, the pursuit of growth came at a cost, with losses surging 72.2% to Rs 341 crore in FY24, compared to Rs 198 crore in FY23.

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IndiQube gets SEBI nod for Rs 850 Cr IPO

EntrackrEntrackr · 11m ago
IndiQube gets SEBI nod for Rs 850 Cr IPO
Medial

IndiQube gets SEBI nod for Rs 850 Cr IPO Managed workplace solutions company, IndiQube, has secured approval from the Securities and Exchange Board of India (SEBI) for its initial public offerings (IPOs). In December last year, the Bengaluru-based company filed its DRHP for Rs 850 crore (approximately $100 million) IPO, comprising a fresh issue of Rs 750 crore and an offer for sale of equity shares totaling Rs 100 crore. As per the draft red herring prospectus (DRHP), the company plans to allocate Rs 427 crore from the fresh proceeds for capital expenditure, Rs 100 crore for loan repayment or prepayment, and the remaining amount for general corporate purposes. ICICI Securities Limited and JM Financial Limited will be the Book Running Lead Managers for its Initial Public Offering. The equity shares are proposed to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE). Indiqube has raised around $45 million across rounds. According to the DRHP, Anshuman Das is the largest shareholder, holding 25.32%, followed by Aravali Investment Holding with 22.07%. Other notable shareholders include WestBridge Capital (5.79%), Carenet Technologies (5.15%), and Hirepro Consulting (2.15%). The company's co-founders, Rishi Das and Meghna Agarwal, cumulatively own 37.92% of the company. Founded in 2015 by Rishi Das and Meghna Agarwal, it manages a portfolio of 103 centers across 13 cities, including 6 Tier II cities. IndiQube clients include Myntra, upGrad, Zerodha, No Broker, Redbus, Juspay, Perfios, Moglix, Ninjacart, and others. The WestBridge Capital-backed firm achieved a 43% year-on-year growth in revenue to Rs 830 crore in FY24 from Rs 580 crore in FY23. However, the pursuit of growth came at a cost, with losses surging 72.2% to Rs 341 crore in FY24, compared to Rs 198 crore in FY23. According to the company, it has recorded Rs 153 crore of EBITDA in Q1FY25 and claims to receive a CRISIL A+ / Stable rating.

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue

EntrackrEntrackr · 8m ago
Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue
Medial

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue Loyalty management firm Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 430 crore (approximately $50 million) and an offer for sale (OFS) of 1.83 crore equity shares, according to the DRHP. Earlier this month, the Bengaluru-based firm received the board nod for its planned Rs 2,250 crore or $265 million Initial Public Offering. Capillary Technologies International Pte. Ltd will offload approximately 77.6%, or 1.43 crore shares, of the total OFS. Other participants in the OFS include Ronal Holdings, Trudy Holdings, Filter Capital, and individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd, the promoter, holds a 65.47% stake in the company. Ronal Holdings and AVP Fund (Avataar Ventures) follow with holdings of 7.53% and 5.51%. Trudy Holdings and Filter Capital India own 4.49% and 3.66%, respectively. Capillary Technologies plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by JM Financial, IIFL Capital, and Nomura Financial Advisory, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for cloud infrastructure costs, research, design, development, and other general corporate purposes. In the previous fiscal year ended March 2025, the company recorded a 14% year-on-year growth in its revenue to Rs 598 crore, up from Rs 525 crore in FY24. It also posted a net profit of Rs 14.1 crore in FY25, compared to a loss of Rs 68.3 crore in FY24.

Warburg Pincus-backed Truhome Finance files DRHP for Rs 3,000 Cr IPO

EntrackrEntrackr · 2d ago
Warburg Pincus-backed Truhome Finance files DRHP for Rs 3,000 Cr IPO
Medial

Warburg Pincus-backed Truhome Finance files DRHP for Rs 3,000 Cr IPO Affordable housing finance company Truhome Finance has filed its Draft Red Herring Prospectus (DRHP) with Securities and Exchange Board of India to raise Rs 3,000 crore through an initial public offering. The IPO comprises a fresh issue of equity shares aggregating up to Rs 1,500 crore and an offer for sale (OFS) of shares worth Rs 1,500 crore by promoter selling shareholder Mango Crest Investment Limited. The proceeds from the fresh issue will be used to ramp up the company’s capital base, support future lending requirements, and meet regulatory capital adequacy norms. Formerly known as Shriram Housing Finance Limited, the company was acquired in December 2024 by global private equity firm Warburg Pincus. Founded in 2010, Truhome Finance focuses on affordable housing loans and other secured lending products including loans against property. As of December 31, 2025, the company claimed assets under management (AUM) of Rs 21,124 crore. Housing loans account for about 57.37% of its portfolio, followed by loans against property at 39.22%. The company operates through a distribution network of 216 branches across 19 states and union territories. Its sourcing network includes more than 3,000 in-house sales personnel, 6,600 connectors, and 821 direct selling agents. For the nine months ended December 2025, Truhome Finance reported a profit after tax of Rs 333.53 crore. Its gross stage-3 assets stood at 1.60% while net stage-3 assets were at 1.09% during the same period. The company recently appointed former State Bank of India chairman Dinesh Kumar Khara as its chairperson. The company is led by managing director and CEO Ravi Subramanian. JM Financial, IIFL Capital Services, Jefferies India, and Kotak Mahindra Capital are the book-running lead managers for the issue.

Bluestone files DRHP for Rs 1,000 Cr IPO; Saama, Kalaari to exit

EntrackrEntrackr · 1y ago
Bluestone files DRHP for Rs 1,000 Cr IPO; Saama, Kalaari to exit
Medial

Omnichannel jewellery retailer Bluestone has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The firm has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore (approximately $119 million) and an offer for sale (OFS) of up to 2.398 crore equity shares, according to the DRHP. Accel Capital will divest 14.6% of its holding in the offer for sale (OFS) while Iron Pillar and Sunil Kant Munjal will offload 31.9% and 51.6%, respectively. Samma Capital, Ivycap Ventures, and Kalaari Capital will take a complete exit from the company in OFS. The fresh issue and OFS will be allotted at a face value of Re 1 while the company will decide the price band and minimum lot band in consultation with the book-running lead managers shortly. According to the DRHP, Accel Capital is the largest external stakeholder with 12.25% followed by Sunil Kant Munjal (Hero Enterprise) and Kalaari Capital and MIH Investment which hold 5.65%, 5.15%, and 4.43%, respectively. Peak XV, Iron Pillar, Steadview, and Kamath Associates are some other notable investors in Bluestone. Axis Capital, IIFL Capital, Kotak, and Kfintech are the book-running lead managers of the issue. In September, Bluestone launched a pre-IPO funding round worth Rs 900 crore. According to data from TheKredible, the company’s post-money valuation reached approximately Rs 7,750 crore ($922 million) after the latest tranche from the company’s founder and CEO Gaurav Singh Kushwaha. For the quarter ending in June 2024, Bluestone reported Rs 348.2 crore in revenue from operations with a loss of Rs 59.2 crore in the same period. In the previous fiscal year (FY24), Bluestone achieved a 64% year-on-year growth in revenue, increasing to Rs 1,266 crore from Rs 771 crore in FY23. During the same period, the firm reduced its losses by 15%, bringing them down to Rs 142 crore in FY24. Bluestone provides jewellery collections for both men and women, available through its website and network of offline stores. According to the DRHP, it operates over 203 stores across 86 cities.

Fintech unicorn Moneyview files DRHP with SEBI for Rs 1,500 Cr IPO

EntrackrEntrackr · 8d ago
Fintech unicorn Moneyview files DRHP with SEBI for Rs 1,500 Cr IPO
Medial

Bengaluru-based fintech lender Moneyview has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 1,500 crore through an initial public offering (IPO). According to the DRHP, the proposed IPO will comprise a fresh issue of equity shares worth Rs 1,500 crore, along with an offer for sale (OFS) of up to 13.6 crore equity shares by existing shareholders. Promoter and co-founder Puneet Agarwal will participate in the OFS alongside several early investors, including Accel, Ribbit Capital, and Apis Partners. The company is also considering a pre-IPO placement of Rs 300 crore. According to the DRHP, Axis Capital, IIFL Capital Services, BofA Securities India, and Kotak Mahindra Capital Company are the issue’s merchant bankers, while MUFG Intime India is the registrar. The company plans to utilize Rs 650 crore from the fresh issue to support loan disbursals through Default Loss Guarantee (DLG) arrangements, while Rs 450 crore will be infused into its NBFC arm, Whizdm Finance, to strengthen its capital base. The remaining proceeds will be used for general corporate purposes. Founded in 2014 by Puneet Agarwal and Sanjay Aggarwal, Moneyview operates a credit-led digital financial services platform offering personal loans, credit score tracking, insurance distribution, and other financial products. The company primarily focuses on serving new-to-credit and underserved customers across India. The fintech platform claims to have built a user base of over 125 million, with a strong presence in Tier II and smaller cities. It works with more than 40 financial institutions, including banks, NBFCs, and insurers, to offer credit and other financial services. On the financial front, Moneyview has reported strong growth and profitability in recent years. The company recorded operating revenue of around Rs 2,379 crore in FY25, while net profit stood at Rs 240 crore during the same period. For the nine months ended December 2025 (9MFY26), the startup reported revenue of Rs 2,409 crore and net profit of Rs 245 crore.

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