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News on Medial
Kedaara, Norwest eye above-par return in Veritas IPO but impact investors to steal show
VCCircle
·
6m ago
Medial
Kedaara Capital and Norwest Venture Partners are set to gain above-average returns by reducing their stakes in Veritas Finance Ltd during its IPO. However, two other investors are anticipated to achieve even greater returns. These investors, along with Kedaara and Norwest, plan to sell portions of their holdings. The Veritas IPO is poised to be profitable for its backers, highlighting the growing appeal and success of Indian financial ventures to investors.
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Kedaara-backed Veritas Finance receives SEBI approval for IPO
VCCircle
·
3m ago
Medial
Veritas Finance, backed by Kedaara Capital and Norwest Venture Partners, has received SEBI approval for its IPO, aiming to raise Rs 2,800 crore. The IPO includes a fresh issue of shares worth Rs 600 crore and an offer for sale by existing shareholders of Rs 2,200 crore. Norwest, Kedaara, BII, Lok Capital, and Growth Catalyst plan to sell part of their holdings. Other shareholders such as Multiples PE and IFC are not participating in the IPO.
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Veritas Finance files draft papers with Sebi to mobilise Rs 2,800-cr via IPO
YourStory
·
6m ago
Medial
Veritas Finance, a retail-focused NBFC, filed with SEBI for a Rs 2,800 crore IPO, including a Rs 600 crore fresh issue and Rs 2,200 crore Offer-for-Sale (OFS) by existing investors. The OFS involves major stakeholders like Norwest Venture Partners and British International Investment offloading shares. The IPO aims to bolster Veritas's capital for business expansion. Founded in 2015, Veritas is the fastest-growing NBFC, focusing on MSME and individual business loans.
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SoftBank, Schroders Capital set for big gains in Lenskart IPO
YourStory
·
10d ago
Medial
SoftBank and Schroders Capital are poised for significant gains as Lenskart prepares for a major IPO, selling 25.5 million and 19 million shares respectively. The IPO, partly comprising a fresh issue worth Rs 2,150 crore, aims to raise approximately Rs 8,000 crore overall. Schroders anticipates an 11X return, while SoftBank expects a 6X return. Other investors like PI Opportunities Fund and Kedaara Capital also foresee substantial exits, marking Lenskart's shift to profitability and market debut.
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Bottomline: Is PE-backed ASG Hospital's M&A-led growth strategy bearing fruit?
VCCircle
·
1y ago
Medial
ASG Hospital Pvt Ltd, an eye-care chain, is expected to see a significant increase in revenue and profit due to several acquisitions it has made in recent years. Private equity firms General Atlantic and Kedaara Capital are among the investors in the company. The M&A-led growth strategy appears to be paying off for the hospital, with positive financial results projected for the financial year ending in March 2024.
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Avanse Financial looks to raise $250 million in private round after shelving IPO
Livemint
·
18d ago
Medial
Avanse Financial Services, an NBFC backed by Kedaara Capital and Warburg Pincus, is planning to raise $200-250 million through a private funding round after shelving its IPO plans due to market volatility. Known for dominating the overseas education loan sector in India with HDFC Credila Financial Services, Avanse's funding round will be primarily secondary, facilitated by recent capital infusions from existing investors such as Kedaara Capital, Mubadala Investment Company, and Avendus PE Investment Advisors.
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How Warburg, Kedaara, IFC's bet played out as Avanse seeks over $1.2-bn valuation
VCCircle
·
1y ago
Medial
Avanse Financial Services, a company backed by private equity firms Warburg Pincus, Kedaara Capital, and IFC, is preparing for its initial public offering (IPO). With a valuation target of over $1.2 billion, the IPO will offer an opportunity for the investors to exit. Avanse Financial Services is a non-banking financial company that specializes in providing education loans.
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Swiggy files updated prospectus, to raise Rs 3,750 crore
Economic Times
·
10m ago
Medial
Food delivery company Swiggy has submitted an updated prospectus for its initial public offering (IPO), consisting of a fresh capital raise of Rs 3,750 crore and an offer for sale of 185.3 million shares. The IPO has received approval from the Securities and Exchange Board of India. Investors such as Prosus, Accel, Norwest Venture Partners, Tencent, Elevation Capital, and Alpha Wave Global will sell part of their stakes in the IPO, while SoftBank will not be selling any shares.
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How Norwest, TPG stand to mint money as SK Finance eyes $1 bn valuation in IPO
VCCircle
·
1y ago
Medial
Non-banking lender SK Finance is preparing for an initial public offering (IPO) and is eyeing a valuation of $1 billion. The company recently concluded a pre-IPO funding round worth $160 million from new investors such as Motilal Oswal Alternates and existing backers including TPG Growth. With this IPO, both Norwest and TPG stand to make significant profits. SK Finance aims to raise additional capital to fuel its growth and expand its operations in the non-banking financial sector.
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Lenskart founder to buy back 2% from bunch of investors at $7 billion valuation
Internet
·
1m ago
Medial
Lenskart founder Peyush Bansal plans to buy back a 1.5-2% stake from investors like TR Capital, Chiratae, Softbank, and Kedaara Capital for approximately $150 million. This move comes as the company prepares for an IPO, targeting a valuation of $8-10 billion. By increasing his stake with the help of Avendus Capital, Bansal aims to counteract his equity dilution from previous funding rounds. The transaction signals strategic planning ahead of the IPO.
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Swiggy packs an IPO lunch for Instamart
Livemint
·
11m ago
Medial
Food delivery firm Swiggy plans to use most of the funds raised from its upcoming IPO to expand its quick commerce service, Instamart, according to an anonymous source. While existing investors Prosus Ventures, Norwest Venture Partners, and Goldman Sachs may sell some of their shares in the $1.25 billion IPO, SoftBank is expected to retain its stake. Swiggy aims to double its network of dark stores serving groceries and home essentials with the additional funds. The IPO is expected to open in November and Swiggy is targeting a valuation of around $15 billion.
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