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

News on Medial

Related News

Shadowfax raises Rs 850 Cr from anchor investors

EntrackrEntrackr · 15d ago
Shadowfax raises Rs 850 Cr from anchor investors
Medial

Shadowfax raises Rs 850 Cr from anchor investors Logistics and last-mile delivery firm Shadowfax Technologies has raised around Rs 850 crore ($95 million) from anchor investors, marking a strong start ahead of the launch of its initial public offering. According to disclosures, the Bengaluru-based company allotted close to 6.9 crore equity shares to anchor investors at Rs 124 per share, which is the upper end of the IPO’s price band. The anchor book saw participation from a mix of leading domestic mutual funds and global institutional investors. Among domestic investors, ICICI Prudential Mutual Fund emerged as the largest anchor investor, while other participants included Nippon India Mutual Fund, Motilal Oswal Mutual Fund, and several insurance and pension funds. On the global side, marquee names such as Government Pension Fund Global (Norges Bank), HSBC Global Investment Funds, Societe Generale, and Eastspring Investments also picked up stakes in the anchor round. Shadowfax’s IPO comprises a fresh issue of around Rs 1,000 crore and an offer-for-sale (OFS) component of approximately Rs 907 crore, where marquee backers, including Flipkart India, Eight Roads Investments, International Finance Corporation, Nokia Growth Partners, NewQuest Asia Fund, and Miare Asset, will offload portions of their stakes. The lot size has been set at 120 shares, meaning retail investors will need approximately Rs 14,880 at the upper end of the band to apply for one lot. Shadowfax is targeting a post-money valuation near Rs 7,400 crore, lower than earlier internal drafts. Founded in 2015 by Abhishek Bansal, Vaibhav Khandelwal, Praharsh Chandra, and Gaurav Jaithliya, the Bengaluru-based firm provides last-mile delivery across e-commerce and hyperlocal sectors, serving over 14,000 pin codes through 1.25 lakh delivery partners. According to data from TheKredible, Shadowfax has raised approximately $246 million to date. Eight Roads Ventures is the largest external stakeholder, followed by Flipkart, NewQuest Asia, and Nokia Growth Partners. Shadowfax reported 32% year-on-year growth in revenue to Rs 2,485 crore in FY25, along with a net profit of Rs 6.4 crore. For the first half of FY26, the company booked Rs 1,806 crore in revenue and Rs 21 crore in profit.

Ather raises Rs 1,340 Cr from anchor investors ahead of listing

EntrackrEntrackr · 9m ago
Ather raises Rs 1,340 Cr from anchor investors ahead of listing
Medial

Ather raises Rs 1,340 Cr from anchor investors ahead of listing Electric two-wheeler maker Ather Energy has allocated shares worth Rs 1,340 crore (around $157 million) to anchor investors ahead of its initial public offering (IPO). The board at Unicommerce has passed a resolution to offer 4,17,45,576 equity shares at an issue price of Rs 321 each (upper-band) to its anchor investors, its regulatory filing accessed from the Bombay Stock Exchange (BSE) shows. SBI, Abu Dhabi Investment Authority (ADIA), Invesco, Franklin Templeton, ICICI Prudential, Morgan Stanley, and Societe Generale are some key anchor investors for Ather. Out of the total issue, 49.6% of the total allocation was made to 7 domestic mutual funds through 14 schemes, the filing further added. Ather Energy initiated its public offering from (28th - 30th April) at a price band of (Rs 304-321) with a minimum bid quantity of 46 equity shares. Before the anchor round, Hero MotoCorp is the largest shareholder in Ather Energy, holding 38.19% of the company. It is followed by Caladium Investment (GIC) with a 15.43% stake. The National Investment and Infrastructure Fund (NIIF) and Tiger Global hold 14.22% and 6.56%, respectively. Ather’s co-founders, Mehta and Jain, each hold 6.81%. According to Entrackr’s estimates, Ather valued itself at $1.44 billion in its initial public offering. In the first nine months of FY25, the company sold 1,08,000 vehicles, generating revenue of Rs 1,578.9 crore. However, it posted a loss of Rs 579.6 crore during the same period. For the full fiscal year ending March 2024, the company reported revenue of Rs 1,753 crore with a loss of Rs 1,062 crore.

TBO raises Rs 696 Cr from anchor investors

EntrackrEntrackr · 1y ago
TBO raises Rs 696 Cr from anchor investors
Medial

Online B2B travel distribution platform Travel Boutique Online (TBO) has offered Rs 696 crore worth of shares to anchor investors as part of its initial public offering. The board at TBO Tek has passed a resolution to offer 75,70,807 equity shares at an issue price of Rs 920 each to its anchor investors, its regulatory filing accessed from BSE (Bombay Stock Exchange) shows. ABU Dhabi Investment, ICICI Prudential, Kotak Mahindra Securities, Nippon Life, SBI Technology Opportunities, Axis Mutual Fund, Goldman Sachs, Aditya Birla, and Invesco India are some key anchor investors for the company. Out of the total allocation of 7,570,807 equity shares to the anchor investors, 3,155,236 equity shares were allocated to 14 domestic mutual funds through a total of 26 schemes, the filing further added. TBO has initiated its public offering from today (8th May-10th May) 2024 with a price band of Rs 875-920 with the minimum bid quantity of 16 shares. In the DRHP, the Gurugram-based firm had proposed to raise funds through the issue of equity shares of face value of Rs 1 each consisting of a fresh issue of equity shares aggregating up to Rs 400 crore and an offer for sale of up to 12,508,797 equity shares. As per the DRHP, Lap Travel controls the largest holding in the firm with a 25% stake followed by Augusta TBO which has a 24.32% stake in the company. Bhatnagar and Dhingra control 20% and 5.63% stake respectively. During the nine months (March 23- Dec 23) of FY24, TBO Tek recorded a consolidated revenue of Rs 1,023 crore with a profit of Rs 154 crore. Importantly, income from hotels and packages comprised 72% of its total revenue while collections from air ticketing contributed 25% of its revenue.

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