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Rediff files confidential IPO papers; targets Rs 600–800 Cr fundraise

EntrackrEntrackr · 1h ago
Rediff files confidential IPO papers; targets Rs 600–800 Cr fundraise
Medial

Rediff files confidential IPO papers; targets Rs 600–800 Cr fundraise Legacy internet firm Rediff.com India Limited has filed confidential draft papers with the market regulator Securities and Exchange Board of India to raise funds via an initial public offering (IPO), according to media reports. The company is aiming to raise between Rs 600 crore and Rs 800 crore through the issue. The confidential pre-filing route allows it to delay disclosure of key details such as financials, valuation, and issue structure until a later stage, offering flexibility in timing the public listing. The move comes as Rediff.com India Limited is undergoing a shift under AvenuesAI, which acquired it in 2024. Since then, the company has been moving away from its old internet portal model and is now focusing on building an AI-driven platform. According to reports, the IPO proceeds are expected to be utilised towards scaling its AI capabilities, product development, and expanding its footprint in the digital payments ecosystem. The company is also working on launching RediffPay, backed by a UPI licence from the National Payments Corporation of India. Founded in 1996, Rediff was among India’s earliest internet companies, offering email, news, and online services. It was also one of the first Indian tech firms to list on NASDAQ in 2000 before being delisted in 2016. The confidential filing route has gained traction among new-age companies. Firms that have used or explored this mechanism include Prism (OYO), Zetwerk, PhonePe, Meesho, Swiggy, Groww, PhysicsWallah, Shadowfax, Shiprocket, boAt, Aequs, Infra.Market, InCred Holdings, Zepto, and Tata Play.

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OYO's parent PRISM files confidential papers with SEBI, eyes $7–8 Bn valuation

EntrackrEntrackr · 3m ago
OYO's parent PRISM files confidential papers with SEBI, eyes $7–8 Bn valuation
Medial

OYO's parent PRISM files confidential papers with SEBI, eyes $7–8 Bn valuation PRISM, the parent of OYO, has filed confidential draft IPO papers with the Securities and Exchange Board of India (SEBI), according to sources aware of the development. The filing follows shareholders’ approval at an Extraordinary General Meeting (EGM) held on December 20, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares. The proposed public offering is expected to value the company in the range of $7–8 billion, people familiar with the matter said. The company had initially appointed ICICI Securities, Axis Capital, Goldman Sachs, and Citibank as book running lead managers for the proposed IPO and has since added more banks to the syndicate. PRISM first initiated the IPO process in 2021 and filed offer documents with SEBI, followed by a revised filing with updated financial and operational disclosures. The company later withdrew its IPO plans amid elevated global market volatility. Since then, the company has expanded its operations across India and international markets and added to its premium portfolio through brands such as SUNDAY Hotels and Palette. It has also strengthened its overseas presence through the acquisition of US-based G6 Hospitality, the economy lodging franchisor that operates Motel 6 and Studio 6. For the quarter ended June 2025 (Q1 FY26), the company reported a net profit of over Rs 200 crore and revenue of Rs 2,019 crore. The confidential filing route has gained traction among new-age companies. Firms that have used or explored this mechanism include PhonePe, Meesho, Swiggy, Groww, PhysicsWallah, Shadowfax, Shiprocket, boAt, Aequs, Infra.Market, InCred Holdings, Zepto, and Tata Play.

Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO

EntrackrEntrackr · 6m ago
Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO
Medial

Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO Building materials unicorn Infra.Market has filed a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 5,000 crore through an initial public offering (IPO), according to sources aware of the development. The proposed issue is expected to be a mix of fresh equity shares and offer-for-sale (OFS) by existing investors, in almost equal proportion. The Bengaluru-based firm has taken advantage of SEBI’s confidential filing mechanism, introduced last year, which allows companies to keep sensitive financial and strategic details under wraps until closer to listing. Infra.Market’s move comes just weeks after it raised $83 million in a Series G round led by Silverline Homes, with participation from Tiger Global, Accel, Nexus Ventures, NK Squared, and Evolvence India. Earlier in June, the Bengaluru-based company also secured $150 million in debt funding from Mars Growth Capital. On the financial front, Infra.Market reported a 23% year-on-year jump in revenue to Rs 14,530 crore in FY24, while its profit surged 2.4X to Rs 378 crore. The FY25 numbers are yet to be disclosed. The firm operates in a competitive space with OfBusiness, Zetwerk, and Moglix. OfBusiness clocked Rs 19,296 crore in revenue in FY24, while Zetwerk and Moglix posted Rs 14,436 crore and Rs 4,964 crore, respectively. By opting for the confidential filing route introduced by SEBI last year, Infra.Market joins the likes of PhonePe, Meesho, Shadowfax, PhysicsWallah, Groww, Shiprocket, boAt, and Aequs, which have kept their draft filings under wraps until closer to listing.

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