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Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say

Economic Times

Economic Times · 7m ago

Philippine fintech GCash hires banks for up to $1.5 billion IPO, sources say

Philippine fintech firm GCash plans an initial public offering (IPO) of up to $1.5 billion, aiming for the country's largest stock offering ever. The IPO may occur in the latter half of 2025 or in 2026, chaired by banks including Citi, Jefferies, and UBS. This move could invigorate ASEAN IPOs, which experienced a dip recently. GCash achieved a valuation of $5 billion after investments from Ayala Corp and Japan's Mitsubishi UFJ Financial Group.

Related News

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report

IndianStartupNews

IndianStartupNews · 2m ago

PhonePe hires JPMorgan Chase, Citigroup, Morgan Stanley and Kotak as IPO bankers: Report

PhonePe, India's leading digital payments platform, is preparing for its IPO, targeting a $1.5 billion raise which could elevate its valuation to $15 billion. To arrange the offering, PhonePe has hired four global investment banks: Kotak Mahindra Capital, JPMorgan Chase, Citigroup, and Morgan Stanley. Having restructured into a public limited company in April 2025, PhonePe plans to file its draft red herring prospectus by August, with the listing expected later this year.

Hyundai India IPO bankers set for big payday with $40-mn fee

VCCircle

VCCircle · 1y ago

Hyundai India IPO bankers set for big payday with $40-mn fee

Banks advising Hyundai on its India IPO are expected to earn up to $40 million in fees. This would be the second-highest fee ever for investment banks working on an IPO in India, reflecting the surge in equity deals in the country. Hyundai India is looking to raise up to $3 billion at a valuation of $30 billion through the IPO. The lead banks on the deal include JPMorgan, Citigroup, and HSBC. The expected fee payout from this IPO alone would represent a significant portion of India's total IPO fee income in 2023.

Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg

Economic Times

Economic Times · 2m ago

Walmart-backed PhonePe seeking to raise $1.5 billion from India IPO: Bloomberg

PhonePe, a Walmart-backed Indian fintech company, plans to raise up to $1.5 billion through its initial public offering (IPO), potentially valuing the company at nearly $15 billion, according to a Bloomberg report. The firm intends to submit draft papers by August. PhonePe is widely used in India for making payments via the Unified Payments Interface (UPI) and boasts over 600 million registered users and 310 million daily transactions.

CoreWeave wins $12 billion cloud contract from OpenAI ahead of IPO, sources say

Economic Times

Economic Times · 5m ago

CoreWeave wins $12 billion cloud contract from OpenAI ahead of IPO, sources say

CoreWeave, an AI startup backed by Nvidia, secured a five-year cloud-computing contract with OpenAI, valued at $11.9 billion, ahead of its IPO. OpenAI will gain a stake in CoreWeave through a $350 million private share placement during the IPO. CoreWeave, based in New Jersey, provides data centers and high-powered chips for AI workloads. The company's IPO, led by major banks, aims for a valuation exceeding $35 billion, marking a significant moment in the AI industry.

India's Emcure Pharma plans 2024 IPO, hires JP Morgan, Jefferies

Reuters · 1y ago

India's Emcure Pharma plans 2024 IPO, hires JP Morgan, Jefferies

Emcure Pharmaceuticals, backed by private equity firm Bain Capital, is reportedly planning to raise $400-$500 million in an IPO next year. The company had previously shelved its listing plans in 2022 due to market volatility caused by the conflict in Ukraine. Emcure has hired investment banks JP Morgan, Jefferies, and Kotak for the IPO and aims for a valuation of around $3 billion. Bain Capital, which owns a 13% stake in the company, plans to sell a portion of its stake. Emcure is one of several Indian companies looking to capitalize on the growing pharmaceutical market in the country, which is predicted to reach $130 billion by 2030.

Bain-backed chipmaker Kioxia scraps October IPO plan, sources say

Economic Times

Economic Times · 11m ago

Bain-backed chipmaker Kioxia scraps October IPO plan, sources say

Bain-backed memory chipmaker Kioxia has decided to cancel its planned initial public offering (IPO) in October due to the recent market downturn in shares of its competitors. Bain had aimed for a market value of 1.5 trillion yen ($10.39 billion) for Kioxia, but with shares of Micron Technology and Samsung Electronics falling around a third from their highs, achieving this pricing goal has become difficult. Kioxia will instead prepare for an IPO at a more suitable time.

Medical supply firm Medline aims to raise over $5 billion in 2025 IPO, sources say

Livemint

Livemint · 9m ago

Medical supply firm Medline aims to raise over $5 billion in 2025 IPO, sources say

Private equity-owned Medline Industries is planning to raise more than $5 billion in an IPO in the US, which could value the medical supplies provider at around $50 billion. The IPO is expected to happen in 2022, subject to market conditions. Medline, owned by Blackstone, Carlyle, and Hellman & Friedman, has invited investment banks to pitch for lead roles in the IPO. The preparations for the IPO come as many high-profile companies plan to go public next year amidst a recovering IPO market. Medline is one of the largest manufacturers and distributors of medical supplies globally.

Uber-backed electric bike startup Lime hires banks for US IPO, sources say

Economic Times

Economic Times · 2m ago

Uber-backed electric bike startup Lime hires banks for US IPO, sources say

Lime, an electric bike and scooter startup backed by Uber, is preparing for a U.S. IPO, hiring Goldman Sachs and JPMorgan Chase for the process. This move comes as the U.S. market shows signs of recovery, with recent IPOs raising nearly $27 billion in 2023. Lime reported a 32% revenue increase to $686 million for 2024 and has been cash flow positive for two consecutive years, despite challenges in the micromobility sector.

PhonePe To File Draft Papers For $1.5 Bn IPO By August

Inc42 · 2m ago

PhonePe To File Draft Papers For $1.5 Bn IPO By August

PhonePe, Walmart-owned fintech, is set to file draft IPO papers by August 2023, aiming to raise $1.5 billion, valuing the company at $15 billion. The company has appointed Kotak Mahindra, Citigroup, and Morgan Stanley to lead the process. Known for its dominance in the Unified Payments Interface (UPI) sector, PhonePe made its listing intentions public earlier in February, with further details about the IPO size or timeline now revealed.

Temasek-backed Licious sets sights on $2 billion IPO in India

Economic Times

Economic Times · 6m ago

Temasek-backed Licious sets sights on $2 billion IPO in India

Licious, supported by Temasek Holdings, plans a $2 billion IPO in India by 2026. The company is striving for profitability and has been speeding up deliveries to enhance competitiveness. Valued at $1.5 billion in 2023, Licious is expanding brick-and-mortar stores and targeting the unorganized meat market. It aims for 50 stores by March 2026. Licious seeks readiness for its IPO within 12 months, driven by India's growing demand for online meat and seafood consumption.

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