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

News on Medial

Related News

FabHotels’ parent files DRHP to raise Rs 250 Cr via fresh issue

EntrackrEntrackr · 4d ago
FabHotels’ parent files DRHP to raise Rs 250 Cr via fresh issue
Medial

FabHotels’ parent company Travelstack Tech Limited has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 250 crore through a fresh issue of shares. The public offer will also include an offer-for-sale (OFS) of 2.68 crore equity shares by its early backers including Accel India, Panthera Growth Fund, Anupam Mittal, Qualcomm, and XTO10X. According to the DRHP, Vaibhav Aggarwal will offload up to 35.82 lakh shares and Adarsh Manpuria will offload up to 17.91 lakh shares, while Anupam Mittal plans to sell 10.37 lakh shares. Other selling shareholders include Accel India, Panthera Growth Fund, Global Private Opportunities Partners and Qualcomm. The company will utilize the net proceedings from Fresh Issue for part-funding the working capital requirements, repayment of certain borrowings availed and general corporate purposes. Travelstack may also explore a pre-IPO placement of up to Rs 50 crore, which, if undertaken, will reduce the size of the public offer. As per the DRHP, Accel India is the largest external stakeholder with 21.75% followed by Qualcomm Asia which holds 8% stake in the company. Meanwhile, Vaibhav Aggarwal owns 19.20% of the company. Founded in 2014 by Aggarwal and Adarsh Manpuria, Gurugram-based FabHotels is a hotel chain operating over 1,300 properties across more than 50 major Indian cities, including Mumbai, NCR, Bengaluru, and Goa. Financially, FabHotels reported operating revenue of Rs 400 crore in the first half of the ongoing fiscal year (H1 FY26). Its net profit stood at Rs 32 crore during the same period. The IPO will be managed by Motilal Oswal, IIFL Capital and Nuvama while MUFG Intime will act as registrar.

Exclusive: FabHotels gears up for IPO, converts into public company

EntrackrEntrackr · 1m ago
Exclusive: FabHotels gears up for IPO, converts into public company
Medial

Exclusive: FabHotels gears up for IPO, converts into public company Hospitality chain FabHotels changed its status and converted itself into a public company. The board has passed a resolution and approved its conversion, a move that might signal its preparation for a public listing. FabHotels’ parent company, Travelstack Tech Private Limited (formerly Casa2 Stays Pvt Ltd), has passed a resolution to rename the entity as Travelstack Tech Limited by removing the word “Private,” according to its filing with the Registrar of Companies (RoC). Founded in 2014 by Vaibhav Aggarwal and Adarsh Manpuria, Gurugram-based FabHotels is a hotel chain operating over 1,300 properties across more than 50 major Indian cities, including Mumbai, the National Capital Region, Bengaluru, and Goa. According to startup data platform TheKredible, the company has raised around $68 million to date from investors including Accel and Goldman Sachs. Its most recent funding was a $20 million round led by Panthera Partners in September 2023. In FY25, the Accel-backed company’s revenue increased over 20% to Rs 716 crore in FY25, with narrowing losses by 45% to Rs 62.7 crore compared to Rs 114 crore in FY24. FabHotels competes directly with Treebo and Bloom Hotels. While both are yet to file their FY25 numbers, Treebo crossed Rs 100 crore in revenue in FY24, whereas Bloom Hotels saw a 73.6% rise in operating revenue to Rs 250 crore and posted a profit of Rs 14 crore.

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

EntrackrEntrackr · 6m 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.

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS

EntrackrEntrackr · 4m ago
Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS
Medial

Amagi files DRHP for Rs 1,020 Cr fresh issue; Accel, Norwest, PI to sell shares in OFS Amagi plans to raise Rs 1,020 crore through a fresh issue of equity shares, while existing investors will offload up to 3.4 crore shares via an Offer for Sale (OFS). Cloud-based SaaS platform Amagi Media Labs has filed its Draft Red Herring Prospectus (DRHP) with SEBI, marking a key step toward its public market debut. According to the DHRP, Accel, Norwest Venture Partners, Avataar Ventures, PI Opportunities Funds, and others are part of the OFS. Accel, through two entities, Accel India VI and Accel Growth VI will divest over 60 lakhs shares while Norwest Ventures and PI Fund are looking to sell 79 lakhs and 99 lakhs shares respectively in OFS. Avataar’s AVP I Fund will also offload nearly 18 lakhs shares. Trudy Holdings, Prem Gupta, Rahul Garg, Rajesh Ramaiah and other individual shareholders will also participate in the partial exit during the offer for sale. Founded in 2008, Amagi provides cloud-native solutions for broadcast and streaming TV platforms, enabling content owners to launch, distribute and monetize live linear channels globally. The company counts global media brands and FAST (Free Ad-Supported Streaming TV) platforms as clients, with the U.S. being its largest market. The IPO proceeds from the fresh issue will be deployed toward strategic investments in technology and product development, business expansion, and general corporate purposes. The company is also considering a pre-IPO placement of up to Rs 204 crore, which would reduce the size of the fresh issue accordingly. Amagi converted into a public company in May this year in preparation for the listing. The IPO is being managed by a consortium of banks, including Kotak Mahindra Capital, Citigroup, Goldman Sachs, IIFL Capital, and Avendus. As per the DRHP filings, Amagi’s has recorded a 32% year-on-year increase in its revenue to Rs 1,163 crore in FY25 from Rs 879 crore in FY24. With the decent growth, the company has managed to reduce its losses by 72% to Rs 68.7 crore in FY25, compared to Rs 245 crore in FY24. According to startup data intelligence platform TheKredible, SaaS unicorn Amagi has raised approximately $340 million to date from prominent investors such as Premji Invest, Accel, General Atlantic, and others. Indian SaaS companies are making headlines with ambitious IPO plans amid strong sector growth.

Ampere's parent Greaves Electric files DRHP for Rs 1,000 Cr IPO

EntrackrEntrackr · 12m ago
Ampere's parent Greaves Electric files DRHP for Rs 1,000 Cr IPO
Medial

Greaves Electric, the parent of EV maker Ampere, has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. 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 18.94 crore equity shares, according to the DRHP. Greaves Cotton Limited (the prompter shareholder) will divest 8.5% of its holding in the offer for sale (OFS) while Abdul Latif Jameel Green Mobility will offload 39.54% of its share from Ampere. The price band and minimum lot size will be decided in consultation with the book-running lead managers shortly through the book-building process. Motilal Oswal, IIFL Capital, and JM Financial will be Ampere's lead book-running managers. According to the DRHP, before the offer for sale (OFS), Greaves Cotton Limited (promoter) held 62.48% of the stake while Abdul Latif Jameel Green Mobility Solutions DMCC commands 34.44% in Ampere. For the quarter ending in September 2024, Ampere reported Rs 302 crore in revenue from operations with a loss of Rs 107 crore. In the previous fiscal year (FY24), Ampere experienced a 46% decline in revenue in FY24, with scooter sales plummeting by nearly 60%. Moreover, the company's losses widened more than 10X to Rs 215 crore, driven by the significant decline in scale. In August, Ola Electric, an EV manufacturer, filed its IPO and raised Rs 6,145 crore through a fresh issue. The company offered shares in a price band of Rs 72-76, which are now trading at Rs 94 (as of 11:30 AM), giving it a market capitalization of Rs 41,488 crore ($4.93 billion). Meanwhile, another EV maker, Ather, has filed its DRHP for a fresh issue of Rs 3,100 crore and is expected to launch its IPO soon.

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