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Regulatory reform could hasten homecoming of IPO-bound startups

VCCircleVCCircle · 11m ago
Regulatory reform could hasten homecoming of IPO-bound startups
Medial

- India's regulatory reform that scraps a time-consuming compliance step is expected to accelerate the homecoming of IPO-bound startups based abroad. - The removal of the approval requirement from the National Company Law Tribunal for reverse flip mergers with domestic subsidiaries has significantly reduced the time it takes for the process. - Indian startups, previously based abroad for better access to capital and tax benefits, are now looking to return home due to the promising IPO prospects and the ban on dual listings in India. - Companies like Razorpay, Pine Labs, KreditBee, Zepto, Eruditus, and InMobi are actively pursuing the reverse flip merger process in preparation for IPOs. - India has become an attractive market for IPOs, with the first nine months of 2022 witnessing a significant increase in capital raised compared to the same period last year. - The streamlined merger process and a preference for local firms by regulators further support the strategic move of startups opting for reverse flip mergers.

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Startup Policy Forum launches CNPC to support IPO-bound startups in India

EntrackrEntrackr · 2m ago
Startup Policy Forum launches CNPC to support IPO-bound startups in India
Medial

Startup Policy Forum launches CNPC to support IPO-bound startups in India CNPC will facilitate regulatory dialogue, conduct training on compliance and governance, and enable peer learning and policy guidance for founders and CXOs. The Startup Policy Forum (SPF), an alliance of over 50 Indian new-age companies, has launched the Centre for New-Age Public Companies (CNPC) to support startups transitioning from private to public markets. The platform aims to address regulatory, governance, and market-readiness challenges as India sees a growing pipeline of IPO-ready startups. The CNPC was formally launched in the presence of SEBI Chairman Tuhin Kanta Pandey during a high-level meeting with 20 startup founders and leaders in Mumbai. The initiative comes at a time when nearly 40 startups, with a combined valuation exceeding $90 billion, are expected to go public in the coming years. “India’s capital markets are witnessing a structural shift, with new-age and tech-driven companies increasingly dominating IPO pipelines and investor interest. The Centre will enhance readiness and resilience of new-age companies as they enter and thrive in public markets,” said Shweta Rajpal Kohli, President and CEO, Startup Policy Forum. SPF’s membership includes listed startups like Swiggy, ixigo, Ather Energy, and MobiKwik, with others such as Meesho, Groww, Curefoods, Bluestone, and PhysicsWallah also preparing to list. The CNPC aims to build market confidence, improve capital market preparedness, and enable India’s next generation of public tech companies.

IPO-bound Captain Fresh to secure debt from Trifecta

EntrackrEntrackr · 4m ago
IPO-bound Captain Fresh to secure debt from Trifecta
Medial

Captain Fresh is set to raise Rs 30 crore in debt funding from Trifecta Ventures ahead of its public listing. The company will issue 3,000 Series B5 non-convertible debentures to Trifecta Ventures Debt Fund for the aforementioned sum, according to its regulatory filings sourced from the Registrar of Companies (RoC). Captain Fresh operates a farm-to-retail platform for animal protein, primarily dealing in fish, seafood, and sheep. It sources directly from farmers and agents, catering to B2B, B2R, and B2B2C segments. This debt infusion comes on the heels of its Rs 250 crore (around $30 million) raise in an ongoing pre-IPO funding round. Financially, Captain Fresh reported a 71% jump in gross revenue (GMV) to Rs 1,395 crore in FY24 from Rs 817 crore in FY23. The company also narrowed its net loss by 22% to Rs 229 crore during the same period. Captain Fresh is preparing to file for its IPO by the end of this year. As per media reports, the company has appointed Axis Capital and BofA as bankers for a proposed IPO worth $350-400 million.

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