New Delhi, July 15 -- IDBI Bank is set to secure an investment from Canada's Fairfax Holdings, while Kenro Capital is in the final stages of closing its secondaries fund.

Meanwhile, Dawaa Dost, Ultrahuman, and UnifyApps are separately in talks to raise fresh capital, according to various media reports.

IDBI Bank

The Indian government has finalised Fairfax Holdings for the sale of its stake in IDBI Bank after the investment firm sweetened its offer, according to a report in The Economic Times, citing people familiar with the matter.

The decision was taken on Tuesday after meetings at the finance ministry, it said.

Fairfax is now offering Rs 81 per share against its offer of Rs 75 per share last year. The government could raise around Rs 26,620 crore by selling a 30.48% stake from its 45.48% holding in the bank, the report said.

State-run Life Insurance Corporation (LIC), which owns just under 50% of the bank, also plans to sell a 30.24% stake, taking the total deal size to Rs 53,000 crore ($5.5 billion).

The development comes after Bloomberg reported on Tuesday that the Union government was nearing a deal to accept Fairfax's offer at a slightly higher price.

Kenro Capital

Late-stage secondaries investment firm Kenro Capital is in the final stages of raising a $120-150 million fund from global and domestic investors, according to a Mint interview with co-founding partner Norbert Fernandes.

After marking the first close with "blue-chip" global institutional investors in October last year, Kenro is now in talks to selectively bring in domestic capital at the final close, Fernandes told Mint. The firm is in discussions with institutions, family offices, high-net-worth individuals (HNIs) and ultra-high-net-worth individuals (UHNIs), and expects to achieve the final close over the next four-six months.

Founded in November 2024 by former TR Capital and Peak XV executives Fernandes and Piyush Gupta, Kenro provides liquidity to early-stage investors in startups.

Dawaa Dost

Generic medicine pharmacy chain Dawaa Dost is seeking to raise Rs 200-250 crore in its first institutional equity funding round and has appointed EY to manage the process, according to a Mint report.

The talks are at an early stage and several growth funds will be sounded out as part of the process. The company plans to use the funds to expand reach and widen its omnichannel network, the report said, citing people familiar with the matter.

Founded in 2018 by Amit Choudhary, Yash Harlalka, and Anirudh Batwara, the Jaipur-based pharmacy chain focuses on making branded generic medicines more affordable.

Ultrahuman

Smart-ring maker Ultrahuman is in talks to raise about $60 million in a funding round, which could value the Bengaluru-based company at $360-400 million, according to a report in The Economic Times, citing people familiar with the matter.

The round will likely be led by existing investors Steadview Capital and Blume Ventures. However, the final size, terms, and investor mix may change as the discussions progress, it said.

The proposed funding is being structured as a continuation of the $35-40 million round completed in March and follows a challenging fundraising period for the company.

Ultrahuman had a patent dispute with Finnish rival Oura, which complicated fundraising due to uncertainty around access to its largest market, the US, according to the report.

SoftBank and WestBridge Capital were some investors who walked out of potential discussions after separately evaluating investments in Ultrahuman at valuations of about $500-550 million, the report said. Legal uncertainty around the company's Ring Air product in the US weighed on those discussions.

UnifyApps

Artificial intelligence (AI) integration startup UnifyApps is in talks with Swedish private equity firm EQT to raise $100-120 million in a fresh funding round, according to a report in The Economic Times, citing people familiar with the matter.

If the deal goes through, UnifyApps would become the third Indian AI startup, after Sarvam and Emergent, to raise over $100 million.

The investment is expected to value the company at $700-750 million, marking a more than threefold jump from its $200 million valuation in October 2025, the report said..

Founded in 2023 by former Sprinklr chief technology officer Pavitar Singh, UnifyApps helps enterprises unify data, automate workflows and deploy AI agents across business functions.

Published by HT Digital Content Services with permission from VC Circle.