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ICICI Venture-backed Epack Durable drops on stock market debut
VCCircle
·
1y ago
Medial
Epack Durable Ltd, an original equipment manufacturer of home appliances, had a disappointing stock market debut with shares listing at a discount to the issue price and subsequently falling further. Despite receiving a strong response from investors, the shares dropped to a low of Rs 211.20. This comes as ICICI Venture, one of the company's private equity investors, sold a third of its stake in Epack Durable. The Noida-based company manufactures various home appliances and competes with larger peers such as Amber Enterprises and Dixon Technologies.
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Related News
Q3 Results Today: Ballarpur Ind, Hardwyn India, R Systems and more
Livemint
·
1y ago
Medial
Companies such as Ballarpur Industries Ltd, EPACK Durable Ltd, Hardwyn India Ltd, R Systems International Limited, and Shivom Investment & Consultancy Ltd are scheduled to announce their Q3 results on February 15. This comes as the earnings season nears its end, with over 620 companies having already announced their December quarter earnings on February 14. The Indian stock market witnessed a rebound on February 14, with the BSE Sensex closing higher by 268 points and the Nifty 50 gaining 97 points.
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Swiggy IPO planned in 2024, investment bankers picked
Livemint
·
1y ago
Medial
Swiggy, backed by SoftBank, is reportedly considering Kotak Mahindra Capital, Citi, and JP Morgan for senior roles in its upcoming IPO. Additionally, Bofa Securities, Jefferies, ICICI Securities, and Avendus Capital are expected to be potential advisors for the IPO. The company aims to debut on the stock market in 2024 after previously postponing its listing plans due to market conditions. Swiggy is the second-largest player in the food delivery and grocery delivery markets and was valued at $10.7 billion in its last funding round in 2022.
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ICICI Venture beats benchmark in new exit move
VCCircle
·
12m ago
Medial
ICICI Venture, the private equity arm of ICICI Bank, has successfully made its fourth exit move in 2024. The firm is capitalizing on the current stock market boom to monetize its investments and is achieving returns that exceed the benchmark. This move further establishes ICICI Venture as one of the pioneering alternative investors in India, operating across private equity and other investment avenues.
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ICICI Venture-backed Prayagraj Power plans over $700 mn expansion
VCCircle
·
11m ago
Medial
ICICI Venture-backed Prayagraj Power, a thermal power producer, is planning to invest around $715 million to expand its coal-based generation capacity by one-third. The Uttar Pradesh-based company aims to increase its existing capacity with this investment. Prayagraj Power is backed by ICICI Venture, the private equity arm of ICICI Bank.
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FirstCry, Unicommerce turn multibaggers for SoftBank, others after bumper stock market debut
YourStory
·
1y ago
Medial
Indian e-commerce company FirstCry and SaaS firm Unicommerce experienced significant gains on their stock market debuts, resulting in substantial returns for their major investors, including SoftBank. FirstCry's stock saw a 40% premium on its debut and closed 3.5% higher, allowing SoftBank's stake in the company to grow to over Rs 7,000 crore. Unicommerce, backed by AceVector Group and SoftBank, also saw a strong premium on its debut. Snapdeal's parent company and SoftBank enjoyed significant notional gains from Unicommerce's listing.
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ICICI Venture extends benchmark busting exit move from portfolio company
VCCircle
·
11m ago
Medial
ICICI Venture, the private equity arm of ICICI Bank, has successfully exited one of its portfolio companies with impressive returns. Taking advantage of the bullish stock market, the firm has reduced its stake in the company, continuing its streak of above-benchmark exits. ICICI Venture is known for its expertise in various alternative investment sectors such as private equity, real estate, and infrastructure. This move highlights their continued success in navigating the investment landscape for optimal returns.
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GEF Capital Partners bets on modular construction firm
VCCircle
·
8m ago
Medial
GEF Capital Partners has invested $20 million in EPACK Prefab, a provider of turnkey solutions for modular construction. The funding will support EPACK Prefab's sustainability initiatives and be used to enhance its manufacturing capabilities and research and development efforts. EPACK Prefab plans to expand its market presence internationally. GEF Capital Partners focuses on equity investments in small and medium enterprises that drive climate action and environmental sustainability. The firm recently closed its second fund at $200 million and is now targeting $400 million for its third fund.
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ICICI Prudential AMC to take over PE, VC, real estate funds from ICICI Venture
VCCircle
·
3m ago
Medial
ICICI Prudential Asset Management Co Ltd is set to acquire private equity, venture capital, and real estate fund management businesses from ICICI Venture, as part of the companies' internal agreement. The acquisition, detailed in a stock exchange filing, has received in-principle approval from their respective boards and is subject to regulatory clearance. This move will allow ICICI Prudential AMC to offer an integrated range of investment asset classes, though ICICI Venture will continue some advisory roles.
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ICICI Venture nears final close of debut VC fund for growth-stage bets
VCCircle
·
1y ago
Medial
ICICI Venture, the private equity and real estate investment subsidiary of ICICI Bank, is nearing the final close of its first venture capital fund, according to sources. The fund will focus on investing in companies during their growth stages. ICICI Venture is an asset manager with a strong track record and is considered a significant player in the Indian market.
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Sanjay Nayar-led Sorin Investments onboards new partner for maiden fund
VCCircle
·
1y ago
Medial
Sorin Investments, a tech-focused investment firm co-founded by Sanjay Nayar and Angad Banga, has added a new partner, Subeer Monga, for its maiden fund. Monga was previously with ICICI Venture, the alternative investment arm of ICICI Bank. The firm recently announced the first close of its debut fund, aiming to raise $100 million to support early-stage tech startups in India.
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