Infra.Market Selects 8 Investment Banks for $500M+ IPO

- Blackbuck, a logistics unicorn, has filed a draft red herring prospectus for a fresh issue of Rs 550 crore and an offer for sale of 2.16 crore shares. - Key investors selling shares in the IPO include Accel (52 lakh shares), Tiger Global (9 lakh shares), Flipkart (4 lakh shares), and IFC (17 lakh shares). - Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam will also sell a combined total of 44 lakh shares. - Blackbuck's revenue rose 69% from Rs 176 crore in FY23 to Rs 297 crore in FY24, while net loss narrowed from Rs 290 crore to Rs 194 crore. - The IPO proceeds will fund marketing, product development, its NBFC arm, and general corporate purposes.

- Accel gearing up for eighth India fund, aiming for $600-700M by end of 2024 - First major VC fundraise after 2022's funding winter, signaling potential market thaw - Firm's stable team and strong track record expected to attract significant LP interest - Accel known for early bets on Flipkart and Freshworks, seeks to maintain early-stage edge - Company culture praised for alignment and handling of failures, but some sector gaps noted Source: [The Arc](https://thearcweb.com/article/accel-india-fund-flipkart-freshworks-venture-capital-1lhpqpT5OmDbBxTs)

- IndiQube is in advanced talks to finalize merchant bankers and aims to file its DRHP within three months. - The startup plans to raise INR 1,000 Cr – INR 1,500 Cr from its IPO, mainly through fresh share issuance. - IndiQube posted a profit of INR 60 Cr in FY24 on an operating revenue of around INR 850 Cr. - Founded in 2015, IndiQube offers managed office spaces and counts WestBridge Capital and Helion Ventures among its backers. - The company competes with Awfis and Smartworks, with the latter also filing its DRHP recently. Source: [Inc42](https://inc42.com/buzz/exclusive-coworking-space-provider-indiqube-in-talks-with-bankers-for-inr-1500-cr-ipo/)

- Avanse Financial Services, backed by Warburg Pincus and other marquee investors, has filed for an INR 3,500 Cr IPO with SEBI. - The IPO includes a fresh issue of INR 1,000 Cr and an offer for sale of INR 2,500 Cr, contributing to over INR 1 Lakh Cr of expected IPOs this fiscal. - Avanse, a leading NBFC in the education loan market, competes with major banks and other NBFCs, focusing on high-ticket overseas education loans. - The company reported a PAT of INR 342.4 Cr in FY24, with a significant increase in operating revenue and interest income. - Avanse aims to use the IPO proceeds to augment its capital base, leveraging its strong market position and investor support. Source: DRHP Filings - https://www.sebi.gov.in/filings/public-issues/jun-2024/avanse-financial-services-limited_84390.html

- Vishal Mega Mart, backed by Kedaara Capital and Partners Group, is considering a confidential pre-filing with Sebi for its IPO. - If successful, it will be the fourth firm to use this route after Tata Play, Oyo, and Swiggy. - The IPO could raise between $750 million to $1 billion, with draft papers expected to be submitted within 7-10 days. - The pre-filing route allows firms to keep sensitive business details confidential until a final decision on listing is made. - Vishal Mega Mart operates 589 franchised stores across 350 cities, targeting lower middle-class customers in the organized value retail market.

Amidst global recession, specially for IT companies, Indegene is floating an initial public offering (IPO) in April 24! Thoughts on the subscription?

Wondering who is going to put money in the IPO bid, and what will happen to the share price post the listing?🤔

- InMobi is planning an IPO in India next year, targeting a $10 billion valuation, sources told TechCrunch. - The firm, currently domiciled in Singapore, will shift to India and list at the group level, including its advertising arm and Glance. - InMobi expects to generate over $700 million in annual revenue by March and has raised less than $300 million to date. - Founded in 2007, InMobi was the first Indian unicorn and now serves major clients like Mastercard, Samsung, and Coca-Cola. - Glance, a subsidiary, is piloting in the U.S. and plans to launch a generative AI-powered version to enhance user experience and drive commerce. Source: Techcrunch