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News on Medial
M&As may improve this year, IPO pipeline to stay strong: Kotak I-Banking's S Ramesh
VCCircle
·
6m ago
Medial
M&A activities are expected to improve, and the IPO pipeline is likely to remain strong this year, according to S Ramesh, managing director and CEO of Kotak Investment Banking. Kotak Mahindra Capital led the league tables for total investment banking fees in 2024, earning approximately $93 million, which represents 7.2% of India's investment banking fee pool. This success underscores Kotak's strong position in the investment banking sector.
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Aikyam Capital fund gets investment commitment worth Rs 105Cr
YourStory
·
3m ago
Medial
Aikyam Capital Management announced the first close of its maiden fund, Aikyam Capital Stressed Assets Fund I, with commitments of Rs 105 crore. The fund seeks Rs 300 crore, with a possibility to increase to Rs 500 crore. It targets investments in viable but financially and operationally challenged businesses. CEO M Venkatasubramaniam highlighted this as a significant milestone and noted a strong pipeline of potential investments. The firm specializes in India's stressed assets.
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Finmin appoints SBI Chairman C S Setty, Uday Kotak as governing council members of infrastructure fund
YourStory
·
7m ago
Medial
The Finance Ministry has appointed SBI Chairman C S Setty and Kotak Mahindra Bank director Uday Kotak to the governing council of the National Investment and Infrastructure Fund Trustee Ltd, replacing Dinesh Khara and T V Mohandas Pai. Approved by Finance Minister Nirmala Sitharaman, the council guides investment strategy for the NIIF, a quasi-sovereign wealth fund established to boost infrastructure financing. Other council members include Ajay Seth, M Nagaraju, and Hemendra Kothari.
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Avammune Therapeutics raises $12 Mn in Series A round
Entrackr
·
3m ago
Medial
Avammune Therapeutics and its subsidiary, Avammune Lifesciences, have secured $12 million in a Series A financing round co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I. The proceeds will be utilized to accelerate its proprietary pipeline, which targets the innate immune system, to develop orally bioavailable small molecules and support the clinical development of lead candidate AVA-NP-695 (an ENPP1 inhibitor). Co-founded in 2020 by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune Therapeutics is a biopharmaceutical company discovering small molecule medicines that target the innate immune system for the treatment of cancer and autoimmune disorders. Its pipeline targets Osteosarcoma, Ewing’s Sarcoma, Triple-Negative Breast Cancer, GI cancers, and autoimmune disorders.
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Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report
Inshorts
·
6m ago
Medial
Lenskart is said to be hiring arrangers like Kotak Mahindra Bank and Morgan Stanley for its $1 billion IPO this year, according to a Bloomberg report. The SoftBank-backed eyewear firm may seek a valuation of about $8 billion and other banks may also join to work on the IPO, the report added. Lenskart reported ₹5,427 crore revenue in FY24.
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Avammune Therapeutics raises $12 Mn in Series A funding round
Entrackr
·
3m ago
Medial
Avammune Therapeutics and its subsidiary, Avammune Lifesciences, have secured $12 million (around Rs 100 crore) in a Series A financing round co-led by Capital 2B, Shastra VC, and Kotak Lifesciences Fund I, a fund managed by Kotak Alternate Asset Managers, with participation from IvyCap Ventures alongside existing investor 1Crowd. The proceeds will be utilized to accelerate its proprietary pipeline, which targets the innate immune system, to develop orally bioavailable small molecules and support the clinical development of lead candidate AVA-NP-695 (an ENPP1 inhibitor), Avammune Therapeutics said in a press release. Co-founded in 2020 by Arun B. Papaiah, Srinivasan Namala, and Aditya Kulkarni, Avammune Therapeutics is a biopharmaceutical company discovering small molecule medicines that target the innate immune system for the treatment of cancer and autoimmune disorders. Its pipeline targets Osteosarcoma, Ewing’s Sarcoma, Triple-Negative Breast Cancer, GI cancers, and autoimmune disorders. According to Avammune, its lead asset is an ENPP1 inhibitor that has demonstrated strong anti-tumor efficacy in several preclinical models of cancer and also in veterinary cancer patients in “compassionate use” settings. AVA-ADR is a potential first-in-class ADAR1 p150 inhibitor and one of the only ADAR1 inhibitors in the landscape to demonstrate in vivo efficacy. According to market research, the global immuno-oncology market is about $100 billion and is rapidly growing at a CAGR of 17%.
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Prosus Eyes PayU IPO In 2025
Inc42
·
9m ago
Medial
PayU, a payments solutions provider, has decided to delay its initial public offering (IPO) until 2025. Prosus, the investor, had initially considered PayU's IPO for 2024. PayU has selected Goldman Sachs as one of the lead bankers for the IPO and plans to file its draft red herring prospectus (DRHP) by early 2025. Prosus, meanwhile, has expressed confidence in its India portfolio, citing strong gains from Swiggy's recent IPO and a promising pipeline of potential IPOs in the country.
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Sify’s Indian data-center unit plans $500 million IPO
Economic Times
·
4d ago
Medial
Sify Technologies Ltd.’s data-center unit, backed by Kotak Private Equity Group, plans to raise $500 million through an initial public offering (IPO) in India. The offering will include new and existing shares, potentially valuing the unit at around $3 billion. Sify, a pioneer in India's data-center sector, operates 14 data centers nationwide. The IPO will capitalize on the growing demand for data centers, spurred by artificial intelligence expansion, with India’s capacity set to increase significantly.
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OfBusiness In Talks With Bankers For $500 Mn IPO Next Year: Report
Inc42
·
12m ago
Medial
B2B marketplace OfBusiness is in talks with bankers, including Kotak Investment Banking, as it plans to go public through an IPO by August 2022. The IPO is set to include both primary and secondary share offerings totaling around $500 million. Although discussions are still in their early stages, the details of the deal may be subject to change.
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India Inc wants to stay close to startups with incubators and accelerators
Livemint
·
9m ago
Medial
Large companies and late-stage tech companies, along with government agencies and venture capital firms, are launching in-house accelerators and incubators to stay connected to the startup ecosystem and remain agile against increasing competition. Examples include edtech unicorn PhysicsWallah's PW School of Startups and gaming unicorn Games24x7's TechXpedite accelerator programs. In addition to accelerators, companies are also building more flexible incubator models. This trend in India is driven by the desire to access early trends, retain talent, and build a pipeline of future leaders and investments.
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Infra.Market Lines Up 8 Investment Bankers For $700 Mn IPO
Inc42
·
11m ago
Medial
Infra.Market has chosen Kotak Mahindra Capital, IIFL Capital, Goldman Sachs, Jefferies, and others to serve as advisors for its initial public offering (IPO). The IPO is expected to be valued between $500 million and $700 million but may increase depending on market conditions. Established in 2016, Infra.Market operates a construction product marketplace and oversees the entire value chain from manufacturing to logistics.
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