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India Ratings downgrades Infra.Market; company plans to raise Rs 2,500 crore via IPO - The Economic Times

Economic Times

Economic Times · 2m ago

India Ratings downgrades Infra.Market; company plans to raise Rs 2,500 crore via IPO - The Economic Times

Infra.Market plans a Rs 2,500 crore IPO but faces a downgrade from India Ratings due to debt refinancing concerns and negative cash flow. While the company reports improved financials and equity infusions, reliance on refinancing is highlighted. Acuité Ratings gives a stable outlook, acknowledging revenue growth but noting high debt. Despite reported financial improvements, India Ratings cites liquidity pressures and stretched receivables, particularly in its Singapore subsidiary.

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Shadowfax to file IPO papers under confidential route - The Economic Times

Economic Times

Economic Times · 2m ago

Shadowfax to file IPO papers under confidential route - The Economic Times

Shadowfax, a hyperlocal logistics startup, plans to file for an IPO under a confidential route with Sebi. The IPO aims to raise between Rs 2,000-2,500 crore, with half from fresh shares, potentially valuing the company at Rs 5,500-6,000 crore. The funds will mainly support its quick commerce segment. Shadowfax, offering rapid delivery services, reported operating revenue of Rs 1,885 crore in FY24, marking a 33% growth, and turned operationally profitable.

Shadowfax files confidential prospectus for its IPO - The Economic Times

Economic Times

Economic Times · 1m ago

Shadowfax files confidential prospectus for its IPO - The Economic Times

Shadowfax, a hyperlocal logistics company backed by Flipkart, has filed a confidential draft red herring prospectus for its IPO, aiming to raise Rs 2,000-2,500 crore, with about half in primary shares. This strategic filing allows Shadowfax to gauge investor interest and refine its IPO plans. The company, which reported Rs 1,885 crore in operating revenue for fiscal year 2024, plans to use the funds to enhance quick-delivery services, noting improved business economics and increasing market traction.

Lenskart secures shareholder nod to raise Rs 2,150 crore via IPO - The Economic Times

Economic Times

Economic Times · 1m ago

Lenskart secures shareholder nod to raise Rs 2,150 crore via IPO - The Economic Times

Lenskart's shareholders have approved an IPO to raise Rs 2,150 crore, with plans to file a draft red herring prospectus with Sebi soon. The eyewear company, valued at $6.1 billion, aims to join other firms seeking public funding. The shareholders also endorsed a new employee stock option plan. Lenskart reported a 43% rise in FY24 revenue and reduced net loss. The company continues to expand its omnichannel strategy, combining online and over 2,500 retail outlets.

Wearables brand Boat's shareholders clear IPO plan; company to raise Rs 500 crore in fresh capital

Economic Times

Economic Times · 6m ago

India’s leading wearables brand, Boat, plans to file an IPO prospectus after shareholder approval, aiming to raise Rs 500 crore in fresh capital. This move follows its halted 2022 IPO attempt. Parent company, Imagine Marketing, received shareholder approval for the IPO plan. Boat's total IPO size may range Rs 2,000-2,500 crore, contingent on market conditions. Despite economic pressures and a 5% revenue decline, Boat retains a 25.7% market share in India's wearables market.

Grapevine: PhysicsWallah, Apax Partners, Supertails, 10Club, Deep Rooted in news

VCCircle

VCCircle · 5m ago

Grapevine: PhysicsWallah, Apax Partners, Supertails, 10Club, Deep Rooted in news

Edtech unicorn PhysicsWallah plans to raise Rs 4,600 crore through an initial public offering (IPO) via a confidential pre-filing route. The IPO will include a fresh issue of shares and an offer for sale by existing investors.

Logistics company Shadowfax eyes Rs 3,000 crore IPO

Economic Times

Economic Times · 1y ago

Logistics company Shadowfax eyes Rs 3,000 crore IPO

Flipkart-backed ecommerce logistics firm Shadowfax Technologies is planning to raise around Rs 2,500-3,000 crore through an initial public offering (IPO). The company is in talks with merchant bankers for the IPO, aiming for a valuation of Rs 5,000-8,000 crore. In February, Shadowfax raised $50 million in a Series E funding round, bringing its total funding to $230 million. It currently serves 2,500 cities and towns, delivering 1.5 million orders per day. Shadowfax's revenue for FY23 was Rs 1,415 crore with a narrowed loss of Rs 143 crore.

PhysicsWallah plans ₹2,500 crore takeover of Drishti IAS

Inshorts · 5m ago

PhysicsWallah plans ₹2,500 crore takeover of Drishti IAS

Alakh Pandey-led edtech startup PhysicsWallah is in talks to acquire Drishti IAS coaching in a deal that could be valued at around ₹2,500 crore, reports claimed. Reports of potential acquisition come as PhysicsWallah gears up for its IPO. Earlier this month, Moneycontrol reported that PhysicsWallah filed draft papers through the confidential pre-filing route to raise ₹4,600 crore via an IPO.

Elevation Capital raises Wakefit stake in run-up to IPO; buys Rs 32 crore employee shares - The Economic Times

Economic Times

Economic Times · 2m ago

Elevation Capital raises Wakefit stake in run-up to IPO; buys Rs 32 crore employee shares - The Economic Times

Elevation Capital increased its stake in Wakefit by purchasing shares worth Rs 32.5 crore from current and former employees, as the company prepares for an IPO. The shares were bought at Rs 1,600 each, alloted under Wakefit's 2019 employee stock option plan. Wakefit, which filed its draft red herring prospectus, plans to raise Rs 468 crore through fresh capital. Elevation Capital chose not to participate in the offer-for-sale component of the IPO.

Warburg Pincus-backed Avanse Financial files draft papers for Rs 3,500 Cr IPO

YourStory

YourStory · 1y ago

Warburg Pincus-backed Avanse Financial files draft papers for Rs 3,500 Cr IPO

Avanse Financial Services, an education-focused non-banking financial company (NBFC), plans to raise Rs 3,500 crore through an initial public offering (IPO). The funds will be used to increase the company's capital base. The IPO includes a fresh issue of equity shares worth up to Rs 1,000 crore and an offer for sale (OFS) of up to Rs 2,500 crore by existing shareholders. Avanse Financial Services is the second-largest education-focused NBFC in India, offering education loans to students and financing for educational institutions. The IPO is being managed by multiple financial firms including Kotak Mahindra Capital and J.P. Morgan.

ETtech explainer: Decoding Lenskart’s draft prospectus for Rs 8,000 crore IPO - The Economic Times

Economic Times

Economic Times · 1m ago

ETtech explainer: Decoding Lenskart’s draft prospectus for Rs 8,000 crore IPO - The Economic Times

Lenskart, an omnichannel eyewear retailer, is set for a significant IPO, with a draft red herring prospectus (DRHP) filed to raise Rs 2,150 crore. The IPO, including a fresh issue and offer-for-sale from investors like SoftBank, aims for a Rs 7,500-8,000 crore valuation. Lenskart intends to utilize funds for store expansion, technology enhancement, and marketing. Profitable in FY25, the company reported a Rs 297 crore net profit, with significant revenue from international markets.

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