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True North, GEF Capital plan to monetise stake in hybrid seeds maker via IPO

VCCircle

VCCircle · 6m ago

True North, GEF Capital plan to monetise stake in hybrid seeds maker via IPO

True North and GEF Capital Partners, a spin-off from the Global Environment Fund, are planning to partially monetize their stakes in a hybrid seeds manufacturing company via an initial public offering (IPO). This strategic financial move, as reported by VCCircle, allows the homegrown private equity firm and its partner, GEF Capital, to potentially capitalize on their investment in the agricultural sector by turning a portion of their shares into liquid assets.

Related News

How True North, GEF are looking to beat the benchmark with exit move

VCCircle

VCCircle · 4m ago

How True North, GEF are looking to beat the benchmark with exit move

Private equity firms True North and GEF Capital Partners are selling part of their stakes in a Hyderabad-based company, which they invested in nine and four years ago, respectively. The firms aim to achieve higher-than-benchmark returns on their investment. This strategic exit move is part of their broader investment strategy to optimize returns. True North and GEF Capital Partners' monetization plan represents a calculated effort to capitalize on their prior investments in the market.

Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news

VCCircle

VCCircle · 9m ago

Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news

- True North considering complete exit from Shree Digvijay Cement Company - Edelweiss Alts, CarDekho, and Afcons in IPO news - True North exploring options to sell its stake in Shree Digvijay Cement Company - Private equity firm engaged advisors for the exit - True North currently holds a 54.83% stake in the company

Did GEF Capital meet the benchmark in full exit from IPO-bound tech company?

VCCircle

VCCircle · 3m ago

Did GEF Capital meet the benchmark in full exit from IPO-bound tech company?

GEF Capital Partners, a sustainability and climate-focused private equity firm, has fully exited a technology services company preparing for an IPO. The firm, spun out from the US-based Global Environment Fund in 2018, successfully sold its entire stake. GEF is currently raising its third fund, emphasizing its commitment to sustainable and climate-focused investments. The exit marks a significant milestone for GEF as it continues to focus on environmental investment.

Orbimed, Accel-backed companies get IPO nod; GEF-backed Hero Motors opts out

VCCircle

VCCircle · 9m ago

Orbimed, Accel-backed companies get IPO nod; GEF-backed Hero Motors opts out

- Two PE-backed firms, Suraksha Diagnostics and Zinka Logistics-operated Blackbuck, receive IPO approval from SEBI. - OrbiMed and Tiger Global are among the investors backing Suraksha Diagnostics, while Accel and Tiger Global back Blackbuck. - Hero Motors, backed by GEF Capital, opts out of its planned IPO. - Suraksha Diagnostics is expected to have more than 50% of OrbiMed's stake in the company sold during the IPO. - Blackbuck, a trucking firm, plans to file a Rs 550 crore IPO and existing investors like Tiger Global and Accel will also sell their stake.

GEF spins money in pre-IPO partial exit as ESDS revives listing plan

VCCircle

VCCircle · 7m ago

GEF spins money in pre-IPO partial exit as ESDS revives listing plan

Private equity firm GEF Capital Partners has partially exited its investment in ESDS Software Solution Ltd, a data centre and cloud services provider. ESDS Software Solution Ltd recently announced its plan to go public after a three-year hiatus. GEF Capital Partners is currently in the process of raising funds for a new India-focused venture.

Niva Bupa ropes in Kotak, Axis, HDFC & three others to run its ₹3,000-crore IPO

Livemint

Livemint · 1y ago

Niva Bupa ropes in Kotak, Axis, HDFC & three others to run its ₹3,000-crore IPO

Private health insurer Niva Bupa is preparing to raise ₹3,000 crore through an initial public offering (IPO) with the help of six investment banks. The move comes after majority shareholder True North sold a large portion of its stake to UK partner Bupa. Niva Bupa has appointed Kotak Mahindra Capital, Axis Capital, HDFC Bank, Morgan Stanley, ICICI Securities, and Motilal Oswal to manage the IPO, which is expected to take place towards the end of 2024. The IPO could value the company at ₹15,000-18,000 crore. In FY23, Niva Bupa achieved over ₹4,000 crore in gross written premium and an 8% market share in the health insurance market.

True North plans exit move as Niva Bupa prepares for $360-mn IPO

VCCircle

VCCircle · 1y ago

True North plans exit move as Niva Bupa prepares for $360-mn IPO

Indian health insurer Niva Bupa is preparing to raise $360 million in an initial public offering (IPO), with a potential valuation of up to $2.5 billion. Bupa, which currently holds a 63% stake in the Indian venture, plans to sell a small stake worth up to $38 million, while private equity firm True North intends to sell a stake worth up to $225 million. Niva Bupa has hired Morgan Stanley and several Indian banks for the IPO, and plans to use the funds to strengthen its balance sheet and cover operating expenses.

KKR-backed Advanta Enterprises adds Alpha Wave to its cap table

VCCircle

VCCircle · 8m ago

KKR-backed Advanta Enterprises adds Alpha Wave to its cap table

Alpha Wave Global, a US-based private equity firm, will acquire a 12.5% stake in Advanta Enterprises for $350 million. The investment will be made through a combination of primary and secondary share purchases. This comes after KKR made a $300 million investment in Advanta in 2022. Alpha Wave's capital infusion will support Advanta's organic and inorganic growth. UPL, the parent company of Advanta, will sell 8.93% of its stake to Alpha Wave to reduce its balance sheet leverage. Advanta is a hybrid seeds company engaged in plant genetic research and development.

True North-backed Anthem Bio files for $397 mn IPO

VCCircle

VCCircle · 6m ago

True North-backed Anthem Bio files for $397 mn IPO

Anthem Biosciences, a contract drugmaker backed by True North, has filed for a 33.95-billion-rupee ($397 million) initial public offering. The IPO will involve private equity firm True North and DavosPharma selling shares, while Anthem itself will not offer any shares. The company, specializing in drug discovery and manufacturing, aims to capitalize on India's booming IPO market in 2023, amid growing global interest in Indian manufacturing due to reduced reliance on Chinese contractors.

GEF Capital set for modest returns from legacy PE bet

VCCircle

VCCircle · 7m ago

GEF Capital set for modest returns from legacy PE bet

GEF Capital Partners, a private equity firm, is expected to generate modest returns from a recent liquidity move. After partially exiting from ESDS Software Solution Ltd, the firm is now set to benefit from the data center and cloud services provider's plan to go public. This comes after a three-year period of inactivity in terms of IPOs. While the exact details of the returns are not disclosed, GEF Capital Partners is optimistic about its investment in this venture.

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