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Wakefit files DRHP to raise Rs 468 Cr via fresh issue

EntrackrEntrackr · 20d ago
Wakefit files DRHP to raise Rs 468 Cr via fresh issue
Medial

Wakefit, a home and sleep solutions brand, has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 468 crore (approximately $55 million) and an offer for sale (OFS) of 5.84 crore equity shares, according to the DRHP. Peak XV is set to offload nearly 2.5 crore shares, making up around 48.8% of the total offer for sale (OFS). Verlinvest and Investcorp Growth will divest 1 crore and 54.5 lakh shares, respectively. Other participants in the OFS include Redwood Trust, SAI Global, Paramark Fund, and others. Its co-founders, Ankit Garg and Chaitanya Ramalingegowda, will collectively sell 1.21 crore shares in the offer for sale. As per the DRHP, Peak XV is the largest external stakeholder with a 22.7% stake, followed by Verlinvest and Investcorp, which hold 9.89% and 9.39%, respectively. SAI Global Investment owns 5.35%, while Elevation Capital and Paramark Fund hold 4.73% and 1.65%. Among the promoters, Ankit Garg holds the largest share at 33.38%, followed by Chaitanya Ramalingegowda with a 10.09% stake. Wakefit plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by Axis Capital, IIFL Capital, and Nomura, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for setting up new stores, leases and licenses, marketing, and other general corporate purposes. In the first nine months of FY25, the company reported revenue of Rs 971 crore with a net loss of Rs 8.8 crore. Wakefit generated 54.78% of its revenue through its own channels, while the remainder came from marketplaces and multi-brand outlets (MBOs). Mattresses were the top revenue contributor, followed by furniture and furnishings.

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Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue

EntrackrEntrackr · 28d ago
Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue
Medial

Capillary Technologies files DRHP; to raise Rs 430 Cr via fresh issue Loyalty management firm Capillary Technologies has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The IPO includes a fresh issue of equity shares worth Rs 430 crore (approximately $50 million) and an offer for sale (OFS) of 1.83 crore equity shares, according to the DRHP. Earlier this month, the Bengaluru-based firm received the board nod for its planned Rs 2,250 crore or $265 million Initial Public Offering. Capillary Technologies International Pte. Ltd will offload approximately 77.6%, or 1.43 crore shares, of the total OFS. Other participants in the OFS include Ronal Holdings, Trudy Holdings, Filter Capital, and individual shareholders such as Sripathi Venkata Ramana Reddy, Harminder Sahni, Adarsh Reddy, Sudhakar Reddy, Sripathi Damodar Reddy, and Manjunath Nanjaiah. As per the DRHP, Capillary Technologies International Pte Ltd, the promoter, holds a 65.47% stake in the company. Ronal Holdings and AVP Fund (Avataar Ventures) follow with holdings of 7.53% and 5.51%. Trudy Holdings and Filter Capital India own 4.49% and 3.66%, respectively. Capillary Technologies plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by JM Financial, IIFL Capital, and Nomura Financial Advisory, who are acting as the book-running lead managers. According to the DRHP, the net proceeds from the fresh issue will be utilized for cloud infrastructure costs, research, design, development, and other general corporate purposes. In the previous fiscal year ended March 2025, the company recorded a 14% year-on-year growth in its revenue to Rs 598 crore, up from Rs 525 crore in FY24. It also posted a net profit of Rs 14.1 crore in FY25, compared to a loss of Rs 68.3 crore in FY24.

Ampere's parent Greaves Electric files DRHP for Rs 1,000 Cr IPO

EntrackrEntrackr · 6m ago
Ampere's parent Greaves Electric files DRHP for Rs 1,000 Cr IPO
Medial

Greaves Electric, the parent of EV maker Ampere, has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Monday. The firm has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore (approximately $119 million) and an offer for sale (OFS) of up to 18.94 crore equity shares, according to the DRHP. Greaves Cotton Limited (the prompter shareholder) will divest 8.5% of its holding in the offer for sale (OFS) while Abdul Latif Jameel Green Mobility will offload 39.54% of its share from Ampere. The price band and minimum lot size will be decided in consultation with the book-running lead managers shortly through the book-building process. Motilal Oswal, IIFL Capital, and JM Financial will be Ampere's lead book-running managers. According to the DRHP, before the offer for sale (OFS), Greaves Cotton Limited (promoter) held 62.48% of the stake while Abdul Latif Jameel Green Mobility Solutions DMCC commands 34.44% in Ampere. For the quarter ending in September 2024, Ampere reported Rs 302 crore in revenue from operations with a loss of Rs 107 crore. In the previous fiscal year (FY24), Ampere experienced a 46% decline in revenue in FY24, with scooter sales plummeting by nearly 60%. Moreover, the company's losses widened more than 10X to Rs 215 crore, driven by the significant decline in scale. In August, Ola Electric, an EV manufacturer, filed its IPO and raised Rs 6,145 crore through a fresh issue. The company offered shares in a price band of Rs 72-76, which are now trading at Rs 94 (as of 11:30 AM), giving it a market capitalization of Rs 41,488 crore ($4.93 billion). Meanwhile, another EV maker, Ather, has filed its DRHP for a fresh issue of Rs 3,100 crore and is expected to launch its IPO soon.

Bluestone files DRHP for Rs 1,000 Cr IPO; Saama, Kalaari to exit

EntrackrEntrackr · 7m ago
Bluestone files DRHP for Rs 1,000 Cr IPO; Saama, Kalaari to exit
Medial

Omnichannel jewellery retailer Bluestone has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO) on Thursday. The firm has proposed to raise funds through a fresh issue of equity shares aggregating up to Rs 1,000 crore (approximately $119 million) and an offer for sale (OFS) of up to 2.398 crore equity shares, according to the DRHP. Accel Capital will divest 14.6% of its holding in the offer for sale (OFS) while Iron Pillar and Sunil Kant Munjal will offload 31.9% and 51.6%, respectively. Samma Capital, Ivycap Ventures, and Kalaari Capital will take a complete exit from the company in OFS. The fresh issue and OFS will be allotted at a face value of Re 1 while the company will decide the price band and minimum lot band in consultation with the book-running lead managers shortly. According to the DRHP, Accel Capital is the largest external stakeholder with 12.25% followed by Sunil Kant Munjal (Hero Enterprise) and Kalaari Capital and MIH Investment which hold 5.65%, 5.15%, and 4.43%, respectively. Peak XV, Iron Pillar, Steadview, and Kamath Associates are some other notable investors in Bluestone. Axis Capital, IIFL Capital, Kotak, and Kfintech are the book-running lead managers of the issue. In September, Bluestone launched a pre-IPO funding round worth Rs 900 crore. According to data from TheKredible, the company’s post-money valuation reached approximately Rs 7,750 crore ($922 million) after the latest tranche from the company’s founder and CEO Gaurav Singh Kushwaha. For the quarter ending in June 2024, Bluestone reported Rs 348.2 crore in revenue from operations with a loss of Rs 59.2 crore in the same period. In the previous fiscal year (FY24), Bluestone achieved a 64% year-on-year growth in revenue, increasing to Rs 1,266 crore from Rs 771 crore in FY23. During the same period, the firm reduced its losses by 15%, bringing them down to Rs 142 crore in FY24. Bluestone provides jewellery collections for both men and women, available through its website and network of offline stores. According to the DRHP, it operates over 203 stores across 86 cities.

WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO

EntrackrEntrackr · 6m ago
WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO
Medial

WestBridge Capital-backed IndiQube files DRHP for Rs 850 Cr IPO Workspace provider IndiQube has filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). The IPO includes a fresh issue of equity shares worth Rs 750 crore (approximately $89 million) and an offer for sale (OFS) of equity shares amounting to Rs 100 crore. Co-founders Rishi Das and Meghna Agarwal will each sell shares worth Rs 50 crore through the OFS. Notably, no external shareholders are participating in the OFS, highlighting the founders' significant role in the offering. According to the DRHP, Anshuman Das is IndiQube's largest shareholder, holding 25.32%, followed by Aravali Investment Holding with 22.07%. Other notable shareholders include WestBridge Capital (5.79%), Carenet Technologies (5.15%), and Hirepro Consulting (2.15%). The company's co-founders, Rishi Das and Meghna Agarwal, cumulatively own 37.92% of the company. IndiQube plans to list its shares on both the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The IPO will be managed by ICICI Securities Limited and JM Financial, who are acting as the book-running lead managers. According to the company, the net proceeds from the fresh issue will be utilized for the establishment of new centers, repayment of borrowings, and other general corporate purposes. In the first quarter of the ongoing fiscal year, IndiQube reported revenue of Rs 242 crore, while its losses stood at Rs 42 crore. The WestBridge Capital-backed firm achieved a 43% year-on-year growth in revenue, reaching Rs 830 crore in FY24, up from Rs 580 crore in FY23. However, the pursuit of growth came at a cost, with losses surging 72.2% to Rs 341 crore in FY24, compared to Rs 198 crore in FY23.

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