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Manjushree, 2 others plan IPO; Postman valuation falls in secondary deals

VCCircle

VCCircle · 1y ago

Manjushree, 2 others plan IPO; Postman valuation falls in secondary deals

Advent International is reportedly planning an IPO for Manjushree Technopack Ltd, India's largest rigid plastic packaging solution provider. The private equity firm has engaged JM Financial, ICICI Securities, Avendus Capital, and Goldman Sachs to manage the offering. Meanwhile, Postman's valuation has fallen in secondary deals.

Related News

SaaS star Postman sees 30-40% cut in value in secondary deals

Economic Times

Economic Times · 1y ago

SaaS star Postman sees 30-40% cut in value in secondary deals

Indian SaaS startup Postman has reportedly made secondary deals with a 30-40% discount, marking a significant decline in value for SaaS firms. The company's latest deals were made at a steeper discount than usual, reflecting the readjustment in valuations for SaaS firms based on revenue projections. Existing investors, including Nexus Venture Partners, Bond Capital, and Battery Ventures, have reportedly purchased shares in the secondary deals. SaaS investments have slowed down overall, with late-stage and mid-stage firms seeing a decline in funding in 2023 compared to the previous year.

Reddit should go public at $5B, according to secondary data

TechCrunch · 1y ago

Reddit should go public at $5B, according to secondary data

Reddit is preparing for its initial public offering (IPO) and needs to determine the right valuation to attract investor interest and maximize its potential for success. Secondary investors suggest that pricing the IPO at $5 billion or less would be ideal, considering Reddit's $800 million yearly revenue and the modest revenue multiples seen in today's public market for companies in its category. Recent secondary deals and investor bids also support this valuation. However, there is a lack of significant secondary activity, which could pose a challenge. Reddit may offer shares to its top users to generate early trading momentum and avoid meme-trading territory. Pricing the IPO conservatively and delivering consistent performance are crucial for maintaining valuations and encouraging more successful IPOs in the future.

Lenskart sets sights on round at $6 billion valuation

Economic Times

Economic Times · 9m ago

Lenskart sets sights on round at $6 billion valuation

Eyewear retailer Lenskart is in discussions for a fresh secondary share sale that could value the company at $6 billion, a 20% increase from its valuation in June. Existing investors including Fidelity, Kedaara Capital, and a significant early investor are seeking to increase their holdings in the company. The final structure and size of the round will depend on finding the right number of sellers. Lenskart has seen significant demand in recent years and has recorded multiple secondary deals. The company's CEO has also hinted at a potential IPO in the next two years.

Cendana, Kline Hill have a fresh $105M to buy stakes in seed VC funds from LPs looking to sell

TechCrunch · 1y ago

Cendana, Kline Hill have a fresh $105M to buy stakes in seed VC funds from LPs looking to sell

Cendana Capital and Kline Hill Partners have raised $105 million for their Kline Hill Cendana Partners fund, exceeding their initial target of $75 million. The fund will focus on buying secondary interest in seed-stage venture capital funds and individual companies. As the lack of liquidity in venture capital becomes a growing challenge, this fund aims to take advantage of the opportunity to purchase illiquid positions at discounted rates. Cendana's relationships with portfolio funds will help source these secondary deals, with Kline Hill assisting in valuation, underwriting, and negotiation. If successful, the two firms plan to raise a successor fund next year.

IPO-bound BlueStone geared for unicorn tag

Economic Times

Economic Times · 2m ago

IPO-bound BlueStone geared for unicorn tag

Bluestone, a jewellery retailer, is preparing for its IPO with a valuation of approximately Rs 10,500 crore ($1.2 billion). 360 One and Centrum Wealth are managing secondary deals worth Rs 300–350 crore, seeing existing investors, such as RB Investments, exit with significant returns. This follows BlueStone’s Rs 900 crore funding round in 2024. The company closed fiscal 2024 with Rs 1,266 crore in revenue, despite net losses, reflecting increased investor interest in the jewellery sector.

SoftBank, CPPIB to participate in Eruditus’ secondary funding round

Money Control

Money Control · 1y ago

SoftBank, CPPIB to participate in Eruditus’ secondary funding round

SoftBank and Canada Pension Plan Investment Board (CPPIB) are reportedly considering an investment in the potential secondary funding round of upskilling and higher education platform Eruditus. The platform aims to raise around $120-150 million, with approximately half of it coming from secondary funding. This secondary round might happen at a valuation of about $2.5 billion, representing a 20% discount to Eruditus' previous valuation of $3.2 billion. SoftBank and CPPIB are existing investors in Eruditus, and a sovereign wealth fund has also expressed interest in participating in the funding round.

WeWork’s India Exit Deal Falls Through Amid Sector Revival

Inc42 · 11m ago

WeWork’s India Exit Deal Falls Through Amid Sector Revival

WeWork's plans to sell its stake and exit its Indian unit have fallen through due to a disagreement over valuation. The coworking company currently holds a 27% stake in the Indian unit, while the remaining 73% is owned by real estate company Embassy Group. WeWork had intended to sell its remaining stake in April through a secondary transaction worth INR 1,200 Cr.

Infra.Market bags ₹1,050 crore at $2.8 billion valuation

Inshorts · 7m ago

Infra.Market bags ₹1,050 crore at $2.8 billion valuation

IPO-bound Infra.Market has raised ₹1,050 crore in its pre-IPO round at a valuation of about $2.8 billion, a jump of over 10% from its valuation of $2.5 billion during the previous funding round. The fundraise, termed as its Series F round, saw participation from existing investors Tiger Global, Foundamental GmbH, Evolvence, among others.

Bluestone bags Rs 900 crore in pre-IPO round, to file draft papers this year

Economic Times

Economic Times · 1y ago

Bluestone bags Rs 900 crore in pre-IPO round, to file draft papers this year

Indian jewellery retailer Bluestone has raised Rs 900 crore ($122 million) in a financing round, more than doubling its valuation to $970 million. Investors including Prosus, Steadview Capital, and Kris Gopalakrishnan's family investment office participated in the primary-plus-secondary share sale. Bluestone plans to file a draft prospectus for its initial public offering (IPO) later this year. The funds raised will be used for an aggressive expansion plan, aimed at increasing the number of offline stores from 220 to 400 in the next 12-18 months. Bluestone reported Rs 1,200 crore of revenue and Rs 3 crore of EBITDA in FY24.

Dr Agarwals Health Care plans IPO for $300 million

Livemint

Livemint · 1y ago

Dr Agarwals Health Care plans IPO for $300 million

Dr Agarwals Health Care Ltd (AHCL) is reportedly planning a public share sale worth $300-400 million later this year. The company, which is majority-owned by TPG and Temasek, is expected to receive a valuation of $1.8-2 billion through the IPO. The offering will likely involve a mixture of primary and secondary fundraising, with TPG and Temasek potentially seeking a partial exit. The parent company will list separately, and a merger with its subsidiary, Dr Agarwals Eye Hospital Ltd (AEHL), will occur afterward. AHCL operates eye care services in multiple states across India.

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