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Wakefit secures SEBI nod for IPO

EntrackrEntrackr · 2m ago
Wakefit secures SEBI nod for IPO
Medial

Wakefit secures SEBI nod for IPO Home and sleep solutions startup Wakefit Innovations has received regulatory approval from SEBI to proceed with its initial public offering (IPO). The IPO comprises a fresh equity issue of Rs 468.2 crore and an offer for sale (OFS) of 5.84 crore shares by promoters and existing investors. Promoters Ankit Garg and Chaitanya Ramalingegowda, along with investors such as Peak XV, Verlinvest, Investcorp, Redwood Trust, SAI Global, and Paramark, are expected to offload part of their holdings. Ahead of the IPO, the co-founders were allotted around 2.6 million shares through a rights issue. Elevation Capital also acquired about 2.03 lakh shares from employees at Rs 1,600 per share but is not participating in the OFS. Wakefit plans to list on NSE and BSE, with Axis Capital, IIFL Capital, and Nomura as lead managers. The company will use the fresh issue proceeds to open new stores, purchase equipment, fund marketing, leases, and meet general corporate requirements. Founded in 2016, Wakefit operates as a direct-to-consumer (D2C) brand focused on sleep and home solutions. Its product portfolio spans mattresses, pillows, furniture, and other home improvement goods, sold through its website, offline stores, and third-party marketplaces. In the first nine months of FY25, Wakefit reported Rs 971 crore in revenue and a net loss of about Rs 9 crore. SEBI has also approved Lenskart’s IPO alongside Wakefit. The two join a growing list of companies that recently received the regulator’s nod to go public, including boAt, Capillary Technologies, Groww, and Pine Labs.

Swiggy shareholders give nod to up IPO fresh issue component to Rs 5,000 crore

Economic TimesEconomic Times · 1y ago
Swiggy shareholders give nod to up IPO fresh issue component to Rs 5,000 crore
Medial

- Swiggy shareholders have approved increasing the fresh issue component of its IPO to Rs 5,000 crore. - The company had initially planned a fresh issue of Rs 3,750 crore and an offer-for-sale (OFS) component of 185.3 million shares. - The final decision on increasing the fresh capital raise will be taken in consultation with the company's bankers. - Swiggy's updated draft red herring prospectus (DRHP) for its IPO was filed on September 27. - The company intends to use the proceeds from the fresh issue to expand its quick commerce operations by opening more dark stores. - Swiggy reported a 34% YoY rise in operating revenue for the June quarter, but net losses widened due to increasing competition in the quick commerce space.

LEAP India, Molbio Diagnostics secure SEBI nod for IPO

EntrackrEntrackr · 16d ago
LEAP India, Molbio Diagnostics secure SEBI nod for IPO
Medial

LEAP India, Molbio Diagnostics secure SEBI nod for IPO Logistics solutions firm LEAP India and Goa-based molecular diagnostics company Molbio Diagnostics have secured approval from the Securities and Exchange Board of India (SEBI) to launch their initial public offering (IPO). The regulator’s observations, published recently, mark a significant milestone for both companies as they prepare to enter the public markets. The approvals come months after LEAP India filed its draft red herring prospectus (DRHP) to raise up to Rs 2,400 crore. The issue comprises a fresh issue of Rs 400 crore and an offer for sale (OFS) of Rs 2,000 crore. The OFS will be led primarily by Vertical Holdings II Pte. Ltd., a promoter entity backed by global investment firm KKR, which plans to divest shares worth Rs 1,998.6 crore. Another promoter group entity, KIA EBT Scheme 3, will offload shares worth around Rs 13.8 crore. Ahead of its plans to go public, the company converted itself into a public limited entity in July 2025 and appointed independent directors to strengthen its board, a development earlier reported exclusively by Entrackr. LEAP India, which provides pallet, container, and asset-pooling solutions to large FMCG, e-commerce, and pharma companies, has been expanding its fulfilment centres and customer touchpoints to tap the surge in demand for organised supply-chain infrastructure. In FY25, the firm reported 28% YoY revenue growth to Rs 466 crore, while maintaining its Rs 37.5 crore PAT, on the back of higher asset utilisation. Meanwhile, in August 2025, Molbio Diagnostics filed its DRHP proposing a fresh issue of Rs 200 crore and an OFS of up to 1.25 crore shares. Selling shareholders include Exxora Trading LLP, Dr Chandrasekhar Bhaskaran Nair, Abdul Qadir Mohamed Theruvath, among others. Molbio, known for its Truenat point-of-care molecular testing platform deployed across TB, HPV, COVID-19, and other infectious diseases, plans to use the IPO proceeds to expand manufacturing capacity and boost R&D infrastructure. The company logged Rs 1,020 crore in revenue and Rs 138.5 crore profit in FY25, reaffirming the growing demand for decentralised diagnostics solutions in India and emerging markets.

Infibeam Avenues gets RBI nod to issue prepaid payment instruments

EntrackrEntrackr · 1m ago
Infibeam Avenues gets RBI nod to issue prepaid payment instruments
Medial

Snippets Infibeam Avenues gets RBI nod to issue prepaid payment instruments Infibeam Avenues Ltd has received two major regulatory approvals that strengthen its foothold in the digital payments ecosystem. The company has obtained approval from RBI to issue PPIs under the Payment and Settlement Systems Act, 2007. Infibeam Avenues Ltd has received two major regulatory approvals that strengthen its foothold in the digital payments ecosystem. The company informed the exchanges that it has obtained in-principle approval from the Reserve Bank of India (RBI) to issue Prepaid Payment Instruments (PPIs) under the Payment and Settlement Systems Act, 2007. According to the filing, the RBI’s approval permits Infibeam Avenues to issue and operate prepaid payment instruments, subject to submission of a System Audit Report (SAR) within the prescribed validity period. This move marks the company’s entry into the regulated PPI space, enabling it to expand its fintech offerings across wallets, prepaid cards, and stored-value payment solutions. On the same day, Infibeam’s wholly owned subsidiary, IA Fintech IFSC Private Limited, also received in-principle approval from the International Financial Services Centres Authority (IFSCA) to act as a Payment Service Provider (PSP) in GIFT-IFSC. The subsidiary is now authorized to carry out Escrow Service, Cross Border Money Transfer Service, and Merchant Acquisition Service. During the first quarter of the ongoing fiscal year, the company’s revenue from operations rose to Rs 1,280 crore in Q1 FY26, up from Rs 745 crore in Q1 FY25. The company’s net profit declined 16% to Rs 58.4 crore in Q1 FY26 from Rs 69.4 crore in the same period last year. Infibeam is yet to file its financial results for the second quarter. Infibeam’s share price is currently trading at Rs 19.40 per share (as of 10:30 AM), giving the company a market capitalization of Rs 5,425 crore.

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