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Amagi converts to public entity ahead of IPO plans

EntrackrEntrackr · 1m ago
Amagi converts to public entity ahead of IPO plans
Medial

Amagi, a leading cloud-based media SaaS company, is preparing for an initial public offering (IPO) and has taken a concrete step by converting its holding company into a public entity. The board of Amagi has approved a resolution to change its status to a public company and rename it from "Amagi Media Labs Private Limited" to "Amagi Media Labs Limited," according to its regulatory filing. As per media reports, Amagi is planning to raise Rs 3,200 crore through a public listing and has appointed Kotak Mahindra Capital, Citigroup, IIFL Capital, and Goldman Sachs as book-running lead managers. Earlier this month, the Accel-backed company also appointed Ira Gupta and Giridhar Sanjeevi as independent directors to meet the regulatory requirements of the Securities Exchange Board of India (SEBI). Amagi is a cloud-based media SaaS company offering solutions for content creation, distribution, and monetization. Its platform enables broadcasters to virtualize operations and deliver personalized ads for clients such as Warner Bros., NBCUniversal, Rakuten TV, and Paramount. As per the startup data intelligence platform TheKredible, the SaaS unicorn Amagi has raised approximately $340 million to date from prominent investors such as Premji Invest, Accel, General Atlantic, and others. The company, which established a steady revenue stream after navigating a difficult pivot, attained unicorn status in March 2022 following its largest funding round—a $100 million investment led by General Atlantic. During the fiscal year ending March 2024, the company recorded 29% year-on-year growth in its operating revenue to Rs 879 crore while managing to reduce its losses by 23.7% to Rs 245 crore in FY24.

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Exclusive: Shiprocket converts to public entity ahead of 2025 IPO

EntrackrEntrackr · 5m ago
Exclusive: Shiprocket converts to public entity ahead of 2025 IPO
Medial

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO Logistics and supply chain enabler Shiprocket is gearing up for a definitive initial public offering (IPO) plan in 2025, taking its first major step toward public listing by converting it into a public entity. The board at Shiprocket has approved a resolution to change its status to a public company and rename it from “Shiprocket Private Limited” to “Shiprocket Limited”, as per its regulatory filing. The conversion into the public entity has come a month after raising $26 million in its Series E round led by KDT Ventures, with participation from MUFG Bank, Tribe Capital, and SAI Global. The company will likely raise more capital in its pre-IPO round. Shiprocket reportedly plans to raise between Rs 2,000-2,500 crore through its IPO, which will include both primary components and an offer for sale (OFS). According to media reports, the company has enlisted Axis Capital, Kotak Mahindra, JM Financial, and BofA Securities as its investment bankers for the offering. Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket is a logistics and supply chain platform that enables businesses to streamline shipping through courier integration, real-time tracking, and automated solutions. Shiprocket has raised over $320 million to date and is valued at $1.21 billion. According to the startup data intelligence platform TheKredible, Bertelsmann Nederland B.V is the largest external stakeholder followed by Tribe. Zomato, Temasek, LightRock, and Paypal are other notable investors in Shiprocket. During the fiscal year ending March 2024, the company recorded a 21% year-on-year increase in revenue, reaching Rs 1,316 crore, while its losses stood at Rs 595 crore for the same period. It competes with Unicommerce which recently acquired Shipway, along with other players such as Shipyard.

Exclusive: Razorpay converts to public entity ahead of IPO plans

EntrackrEntrackr · 2m ago
Exclusive: Razorpay converts to public entity ahead of IPO plans
Medial

Exclusive: Razorpay converts to public entity ahead of IPO plans Fintech unicorn Razorpay has transitioned into a public limited company, moving closer to its planned initial public offering (IPO). While it has no immediate plans to go public, the Bengaluru-based firm—previously domiciled in the United States—is in the process of shifting its headquarters to India. “As part of our redomiciling to India, we’re initiating the process to become a public company well before our IPO in approximately two years, in order to align with best governance practices and build early readiness,” a company spokesperson said in response to Entrackr’s queries. Razorpay will join the likes of Paytm and MobiKwik, which have already gone public, while Pine Labs and PayU are also expected to list by the end of the ongoing fiscal year (FY26). As per media reports, the Bengaluru-based payments unicorn is targeting its IPO by 2026-27. The development comes two months after the Regional Director in Hyderabad approved the amalgamation of Razorpay Inc with Razorpay India. Razorpay provides easy and secure payment solutions tailored for local businesses. Its offerings include multi-currency transactions, real-time payments, and cost-effective cross-border solutions. In addition to India, the company has expanded its presence to Singapore and Malaysia. Razorpay has raised over $800 million across multiple funding rounds and was last valued at around $7 billion. In FY24, the company posted a revenue of Rs 2,068 crore with a profit of Rs 35 crore. It competes with players like Cashfree, which reported Rs 642 crore in revenue for the same period, and PayU, which recorded $444 million (approximately Rs 3,800 crore) in revenue during FY24.

Info Edge-backed NoPaperForms converts into public company

EntrackrEntrackr · 6d ago
Info Edge-backed NoPaperForms converts into public company
Medial

Info Edge-backed NoPaperForms converts into public company Info Edge-backed NoPaperForms, the parent company of Meritto, has converted into a public entity and is gearing up for a stock exchange listing soon. The board of NoPaperForms has approved a resolution to change its status to a public company and rename it from "NoPaperForms Solutions Private Limited" to "NoPaperForms Solutions Limited”, according to its regulatory filing accessed from the Registrar of Companies (RoC). The Gurugram-based SaaS company has reportedly roped in IIFL Capital and SBI Capital as its investment bankers. As per the media reports, NoPaperForms expects to file for an Initial Public Offering (IPO) worth Rs 500-600 crore at a valuation of Rs 2,000 crore ($235 million) by the end of 2025. Founded in 2017 by Naveen Goyal, NoPaperForms is a vertical SaaS and embedded payments platform for educational institutions. NoPaperForms offers range of services through two flagship products, “Meritto”, which helps educational institutions manage student recruitment, leads, applications, communication, and analytics in one place, and “Collexo”, a payment and fee management system that makes it easy to collect fees, offer flexible payment plans, and track finances in real time. According to startup data platform TheKredible, Info Edge currently holds a 47.9% stake followed by founder Naveen Goyal, who owns 30.17% stake. NoPaperForms turned profitable in the fiscal year ended March 2024, posting a Rs 4 lakh profit compared to a Rs 15.6 crore loss in FY23, driven by a 45% jump in operating revenue from Rs 48 crore to Rs 70 crore in FY24. With this conversion, NoPaperForms will join the growing list of Indian startups that recently converted into public companies including Amagi, Dairy company Milky Mist, fintech majors PhonePe, Pine Labs, Razorpay, and Meesho, which also filed its DRHP after recently completing its reverse flip.

Meesho to rename legal entity ahead of $1 Bn IPO

EntrackrEntrackr · 2m ago
Meesho to rename legal entity ahead of $1 Bn IPO
Medial

Meesho to rename legal entity ahead of $1 Bn IPO Homegrown e-commerce platform Meesho has received board approval to change its legal name as part of a strategic move ahead of its public listing. The company’s board and members have approved a special resolution to rename the entity from “Fashnear Technologies Private Limited” to “Meesho Private Limited,” according to a regulatory filing with the Registrar of Companies (RoC). This development comes just a month after reports indicated that Meesho is preparing for a $1 billion IPO. According to media reports, the firm shortlisted Morgan Stanley, Kotak Mahindra Capital, and Citi as its IPO advisers, with discussions ongoing to include JP Morgan in the syndicate. The bankers have reportedly valued Meesho at $10 billion for its IPO, with plans to file draft documents in the coming months. The company aims to list on the stock exchange around Diwali this year. On a year-on-year basis, the company saw a 33% year-on-year revenue growth, reaching Rs 7,615 crore in the fiscal year ending March 2024. It also reduced its adjusted losses by 97% to Rs 53 crore. During the first nine months of FY25, Meesho delivered 1.3 billion orders.

Exclusive: Fintech unicorn Moneyview to convert into public company ahead of IPO

EntrackrEntrackr · 1m ago
Exclusive: Fintech unicorn Moneyview to convert into public company ahead of IPO
Medial

Fintech unicorn Moneyview is set to convert into a public company ahead of its IPO. The company recently changed its parent company’s name from “Whizdm Innovations Private Limited” to “Moneyview Private Limited.” The board has passed a special resolution to convert the company into a public entity, renaming it “Moneyview Limited.” Moneyview aims to raise over $400 million through its IPO, having appointed Axis Capital, Kotak Mahindra, and others as banking partners. Founded in 2014, Moneyview offers loans, credit cards, BNPL, and financial management tools, partnering with over 15 institutions. It has raised over $230 million from investors such as Accel and Tiger Global. For FY24, Moneyview's revenue increased by over 75% to Rs 1,012 crore, with a profit of Rs 171 crore. Other fintech firms like Pine Labs and Razorpay are also preparing to go public.

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