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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.

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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.

Vishal Mega Mart names five bankers for $750 million IPO

Livemint

Livemint · 1y ago

Vishal Mega Mart names five bankers for $750 million IPO

Vishal Mega Mart has appointed Kotak Mahindra Capital, ICICI Securities, JP Morgan, Morgan Stanley, and Jefferies as bankers for its upcoming IPO, expected to be worth up to $750 million. The supermarket chain, owned by Partners Group and Kedaara Capital, plans to file for the IPO by the end of the year. Vishal Mega Mart's owners are targeting a valuation of $5 billion. The company operates a mix of owned stores and franchises, and its consolidated revenue grew 36% to INR 7,590 crore ($1.03 billion) in FY23.

Urban Company secures shareholder nod for IPO, to raise Rs 528 crore in fresh capital

Economic Times

Economic Times · 4m ago

Urban Company secures shareholder nod for IPO, to raise Rs 528 crore in fresh capital

Urban Company has received shareholder approval for an IPO to raise Rs 528 crore in fresh capital. Initially targeting a Rs 3,000 crore IPO, the company adjusted its plans due to market conditions. The IPO will include both primary capital raise and an offer-for-sale from investors. Urban Company has appointed Kotak Mahindra, Goldman Sachs, and Morgan Stanley as bankers. The company narrowed its net loss in fiscal 2024 and reported a pre-tax profit in early 2025.

Prosus-owned PayU targets India IPO filing in February, hires bankers

Economic Times

Economic Times · 1y ago

Prosus-owned PayU targets India IPO filing in February, hires bankers

Payment gateway provider PayU, owned by South African conglomerate Prosus, is planning to file for an IPO worth at least $500 million in India. PayU offers various services including buy-now-pay-later and competes with Razorpay and PhonePe. The company has appointed Goldman Sachs, Morgan Stanley, and Bank of America as advisors for the IPO, which is expected to value PayU at between $5 billion and $7 billion. The IPO is planned to be listed by the end of 2024.

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

Inshorts · 7m ago

Lenskart to hire Kotak Mahindra, Morgan Stanley for $1-billion IPO: Report

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.

TPG-backed Sai Life Sciences plans IPO with Rs 800 Cr fresh issue, OFS

YourStory

YourStory · 1y ago

TPG-backed Sai Life Sciences plans IPO with Rs 800 Cr fresh issue, OFS

Sai Life Sciences, backed by private equity firm TPG Capital, has filed preliminary papers for an initial public offering (IPO). The IPO will consist of a fresh issue of equity shares worth INR 800 crore and an offer-for-sale of 6.15 crore shares by existing shareholders. The proceeds will be used for debt repayment and general corporate purposes. Sai Life Sciences offers services across the drug discovery, development, and manufacturing value chain and operates in the rapidly growing Indian CRDMO (contract research, development, and manufacturing organization) market. Kotak Mahindra Capital, IIFL Securities, Jefferies India, and Morgan Stanley India have been appointed as merchant bankers for the IPO.

TPG-backed Fractal Analytics revives IPO plans; Lilavati Hospital to tap PEs

VCCircle

VCCircle · 1y ago

TPG-backed Fractal Analytics revives IPO plans; Lilavati Hospital to tap PEs

US-based AI and analytics solutions provider, Fractal Analytics, is reportedly reviving plans for an initial public offering (IPO) in India. The company aims to raise over $500 million and is targeting a valuation between $3 billion and $3.5 billion. Fractal Analytics has appointed Kotak Mahindra Bank and Morgan Stanley as advisors for the IPO.

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.

Kazakh fintech giant Kaspi.kz makes US IPO filing public

Reuters · 1y ago

Kazakh fintech giant Kaspi.kz makes US IPO filing public

Kazakhstan-based fintech company Kaspi.kz has revealed a surge in profits and revenue, as it moves closer to a US listing by making its IPO paperwork public. The firm, valued at almost $19 billion on the London Stock Exchange, is set to join other highly valued companies planning US listings in 2024. Kaspi.kz hopes that a US listing will attract a larger and more diverse investor base. In its most recent quarter, the company reported a 40% increase in net income and a 51% rise in revenue. Morgan Stanley, J.P. Morgan, and Citigroup are the lead underwriters for its IPO.

Novelis plans $1.2bn worth US IPO by June, looking at $18bn valuation

Livemint

Livemint · 1y ago

Novelis plans $1.2bn worth US IPO by June, looking at $18bn valuation

Novelis Inc., the aluminum products maker owned by Hindalco Industries Ltd., is planning to complete its IPO as early as June. The company aims to raise about $1.2 billion in the IPO, with a potential valuation of around $18 billion. Novelis is the world's largest producer of flat-rolled aluminum products, utilized in various industries. The IPO will be facilitated by Morgan Stanley, Bank of America, and Citigroup. Novelis' parent company, Hindalco, acquired it in 2007 for approximately $6 billion. Around 42% of Novelis' global net sales come from North America.

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