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News on Medial
InvAscent-backed Malladi Drugs seeks to step up growth with potential IPO in sight
VCCircle
·
10m ago
Medial
Malladi Drugs, a contract manufacturer of bulk drugs, is looking to boost its growth with a potential IPO in the next financial year. Backed by InvAscent, the company plans to explore the option of going public to accelerate its business expansion. Malladi Drugs reported a decline in its revenue for the past financial year and hopes that an IPO will help drive its growth efforts.
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PE firm InvAscent keen to list five portfolio companies
Livemint
·
1y ago
Medial
Private equity firm InvAscent plans to list five of its portfolio companies in the healthcare and pharmaceutical sectors over the next 24-36 months. The portfolio firms include Symbiotec Pharmalab, Malladi Drugs, Ankura Hospital, Accumax Lab Devices, and MediBuddy. This move will provide exit opportunities for the investor and reflects a strategic shift in their approach. InvAscent has invested in these firms through India Life Sciences Fund III and aims for them to have scaled to ₹150 crore in Ebitda before listing. The firm has previously exited through sales to larger private equity firms or companies.
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InvAscent plots an exit move as healthcare portfolio firm’s IPO plan takes shape
VCCircle
·
4m ago
Medial
InvAscent, a healthcare-focused private equity firm, plans to partially exit its three-year investment in a South India-based bulk drugs manufacturer. The company is preparing for an initial public offering (IPO). This move comes as InvAscent continues to progress with its fourth fund, which reached its halfway mark in June. The anticipated IPO offers an opportunity for InvAscent to reap returns from this strategic investment.
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Lightrock, 360 One-backed Kauvery Hospital weighs public listing
VCCircle
·
6m ago
Medial
Kauvery Hospital, a multi-specialty chain in Tamil Nadu, is contemplating an initial public offering (IPO). Backed by private equity investors including 360 One Asset Management, Stakeboat Capital, and Lightrock, the hospital chain is preparing for this financial step. Operated by Sri Kavery Medical Care (Trichy) Pvt Ltd, the potential IPO aims to support their growth and expansion plans. This strategic move seeks to leverage public markets for additional funding and visibility.
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InvAscent-backed Sharp Sight draws interest from PE investors, healthcare firms
VCCircle
·
5m ago
Medial
Indian eye-care chain Sharp Sight Group of Eye Hospitals has attracted interest from both global and domestic private equity firms, as well as local strategic suitors. This comes as its current investor, InvAscent, a healthcare-focused private equity firm, considers potential investments. At least two sources confirmed the increased interest, reflecting the ongoing attractiveness of the healthcare sector. The development is significant for Sharp Sight as it looks to expand and enhance its services.
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Grapevine: PE-backed firms eye Sharp Sight; KKR pauses Lighthouse Learning sale
VCCircle
·
12m ago
Medial
The founders of Sharp Sight Eye Hospitals are considering selling a controlling stake, which would allow private equity investor InvAscent to exit the company. Investment bankers have been invited to bid for the opportunity to raise fresh capital and facilitate the exit. This comes as PE-backed eyecare chains ASG Eye Hospital and Eye-Q Vision plan to merge, eyeing potential consolidation in the industry. In other news, KKR has decided to temporarily pause the sale of Lighthouse Learning, a move that may have been influenced by the current market conditions.
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OfBusiness converts into public limited company
Economic Times
·
6m ago
Medial
OfBusiness, a B2B e-commerce firm, is preparing for a potential IPO by converting to a public limited company, as per its filings with the Registrar of Companies. The conversion, a step towards meeting IPO requirements, comes amid plans for a $750 million to $1 billion offering. Backed by investors like SoftBank, the company reported a 30% rise in net profit to Rs 603 crore for FY24, with significant revenue growth and multiple acquisitions enhancing its portfolio.
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ChrysCap-backed Centre For Sight strikes another acquisition in bid to expand
VCCircle
·
11m ago
Medial
Centre For Sight, a leading ophthalmology chain backed by Chrys Capital, has acquired a majority stake in a Mumbai-based hospital chain as part of its expansion strategy. The company recently raised $100 million and aims to grow its presence in the healthcare sector. This acquisition marks another step towards its goal.
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Quadria, PremjiInvest-backed firms move a step closer to public float
VCCircle
·
1y ago
Medial
Akums Drugs & Pharmaceuticals and Gold Plus, backed by Quadria and PremjiInvest respectively, have received approval from SEBI to proceed with their plans for a public listing. Akums Drugs aims to raise Rs 680 crore through a fresh issue in its IPO, while Gold Plus plans to raise Rs 500 crore. Both companies have also announced offers for sale by their promoters and investors. Akums Drugs is a pharmaceutical contract development and manufacturing organization (CDMO), while Gold Plus is one of India's largest float glass manufacturers.
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SoftBank-backed Neumora bags $2.51 billion valuation in lacklustre debut
Economic Times
·
1y ago
Medial
SoftBank-backed Neumora Therapeutics had a lackluster market debut, with its shares falling and giving the company a market capitalization of $2.51 billion. The artificial intelligence drug development company raised $250 million in its initial public offering (IPO) and is focused on developing drugs for brain diseases. This IPO comes amid a recovery in the US IPO market, fueled by expectations of a pause in interest rate hikes by the Federal Reserve.
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Ola Electric eyes IPO filing by end-October in expedited listing plan
Economic Times
·
1y ago
Medial
Ola Electric, the Indian e-scooter maker, plans to file regulatory papers for its IPO of up to $700 million by the end of October. Backed by investors such as SoftBank and Temasek, Ola Electric seeks to fast-track its listing process. The company's IPO project is internally known as "Project Himalaya", and it has asked its bankers and lawyers to prioritize meeting a five-week deadline. Ola Electric's IPO roadshows are expected to take place in January or February. The company, with a 30% market share in India, recorded a loss of $136 million in the fiscal year ending March 2023.
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