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IIFL Securities to hire 100 bankers as it rebrands into IIFL Capital

VCCircle

VCCircle · 9m ago

IIFL Securities to hire 100 bankers as it rebrands into IIFL Capital

IIFL Securities, now known as IIFL Capital Services, is planning to hire around 100 bankers as part of its rebranding strategy. The company, backed by Fairfax, aims to enhance its wealth management division while building on its existing investment banking and institutional equities franchise. The hiring initiative signals the company's commitment to expanding its services and catering to a wider range of clients.

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Gaja Capital set to become first Indian PE firm to go public with ₹500 cr IPO

Livemint

Livemint · 7m ago

Gaja Capital set to become first Indian PE firm to go public with ₹500 cr IPO

Gaja Capital plans to raise ₹500-600 crore through an IPO, marking it as the first standalone Indian private equity firm to go public. They've appointed JM Financial and IIFL Securities as merchant bankers for the process. Expected by June 2025, the IPO will issue fresh shares. Transitioning to a public limited company, Gaja aims to scale globally, diversify its business, and enhance its brand. Founded in 2004, it manages around $500 million across various sectors.

CarDekho Eyes $500 Mn IPO Next Year

Inc42 · 11m ago

CarDekho Eyes $500 Mn IPO Next Year

CarDekho is in discussions to hire merchant bankers for its upcoming IPO. The startup is aiming to submit its Draft Red Herring Prospectus (DRHP) in March 2025. Peak XV, Google Capital, and Hillhouse Capital will sell a portion of their stakes as part of the Offer for Sale (OFS). The funds raised from the IPO will be used for CarDekho's expansion into new geographical regions and categories, as well as for potential acquisitions.

Tax authorities conduct searches at IIFL group companies; shares fall

VCCircle

VCCircle · 7m ago

Tax authorities conduct searches at IIFL group companies; shares fall

India's income tax authorities are conducting searches at IIFL group companies, including IIFL Finance, 360 One Wam, and IIFL Securities. The exact details of the search remain unclear as employees were restricted from using phones during the operation. This development led to a slump in the companies' shares, with 360 One Wam dropping 7.6%, IIFL Finance 3.5%, and IIFL Capital Services around 2.1%. No comments have been given by the involved parties.

IIFL Securities enhances employee engagement with grant of 3,69,500 stock option

Livemint

Livemint · 1y ago

IIFL Securities enhances employee engagement with grant of 3,69,500 stock option

IIFL Securities has granted 3,69,500 stock options to its employees under the 'IIFL Securities Employee Stock Option Scheme - 2018'. The grant aligns with the company's strategy to foster employee ownership and dedication. The options are convertible into one equity share each and have an exercise price of Rs. 189.45. The vesting schedule is four years from the grant date, and the options can be exercised within seven years. The move demonstrates IIFL Securities' commitment to employee engagement and retention.

LetsVenture rebrands to LVX to integrate private market offerings

YourStory

YourStory · 1m ago

LetsVenture rebrands to LVX to integrate private market offerings

LVX has rebranded from LetsVenture to streamline private market offerings into three segments: LVX Start for early-stage investments, LVX Grow for growth-stage capital raises and secondary transactions, and LVX School for investor education. The platform caters to about 13,000 individuals, 350 family offices, and 100 venture capital firms, supporting over 900 startups. It focuses on capital raising, exit facilitation, and investor education while keeping customer acquisition costs effectively zero without heavy digital marketing.

Awfis Space Solutions shares list at 14% premium over issue price

Economic Times

Economic Times · 1y ago

Awfis Space Solutions shares list at 14% premium over issue price

Awfis Space Solutions' shares debuted on the stock exchanges with a 13.6% premium. The stock opened at Rs 435 on NSE, higher than the issue price of Rs 383 per share. The company saw strong demand for its IPO, with oversubscription of over 100 times. However, Awfis' financial performance raises concerns, as it struggles to achieve profitability and faces negative cash flow. The company plans to use the proceeds from the IPO for expansion, establishing new centers, and general corporate purposes. ICICI Securities, Axis Capital, IIFL Securities, and Emkay Global Financial Services were the book running lead managers to the issue.

TPG-backed Sai Life Sciences plans IPO with Rs 800 Cr fresh issue, OFS

YourStory

YourStory · 1y ago

TPG-backed Sai Life Sciences plans IPO with Rs 800 Cr fresh issue, OFS

Sai Life Sciences, backed by private equity firm TPG Capital, has filed preliminary papers for an initial public offering (IPO). The IPO will consist of a fresh issue of equity shares worth INR 800 crore and an offer-for-sale of 6.15 crore shares by existing shareholders. The proceeds will be used for debt repayment and general corporate purposes. Sai Life Sciences offers services across the drug discovery, development, and manufacturing value chain and operates in the rapidly growing Indian CRDMO (contract research, development, and manufacturing organization) market. Kotak Mahindra Capital, IIFL Securities, Jefferies India, and Morgan Stanley India have been appointed as merchant bankers for the IPO.

Peak XV-Backed Awfis Looking To Go Public, Shortlists 3 Investments Banks

Inc42 · 1y ago

Peak XV-Backed Awfis Looking To Go Public, Shortlists 3 Investments Banks

Awfis, a Chennai-based coworking space provider backed by ChrysCapital and Peak XV Partners, plans to file a draft red herring prospectus (DRHP) within a month for an IPO valued at $100-125 million. The company has shortlisted ICICI Securities, IIFL Capital, and Axis Capital as the investment banks for the IPO. This move would make Awfis the first coworking startup from India to go public. The IPO will comprise both primary and secondary share issues, allowing investors to dilute their shares and the company to raise expansion capital.

Grapevine: BlueStone ropes in bankers for IPO; former TPG exec to launch fund

VCCircle

VCCircle · 10m ago

Grapevine: BlueStone ropes in bankers for IPO; former TPG exec to launch fund

Jewellery startup BlueStone has enlisted Axis Capital, IIFL Securities, and Kotak Mahindra Capital to handle its $200 million IPO scheduled for Q2 2023. In other news, a former TPG executive is launching a fund.

Ecom Express sets the ball rolling for Rs 3,000-crore IPO

Economic Times

Economic Times · 1y ago

Ecom Express sets the ball rolling for Rs 3,000-crore IPO

Indian logistics company Ecom Express is reportedly planning to raise Rs 3,000 crore ($402 million) through an initial public offering (IPO). The Warburg Pincus-backed firm has appointed Kotak Capital, IIFL, Axis Capital, and UBS as its bankers for the IPO. Ecom Express is expected to file its draft red herring prospectus soon. The company had previously postponed its planned public listing in 2022 due to market conditions. In FY2023, Ecom Express reported a 20% increase in revenue, reaching Rs 2,548 crore, but also a loss of Rs 375 crore.

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