New Delhi, July 8 -- The parent of InsuranceDekho has tapped investment banks for a stock market listing while Swedish private equity investor EQT is looking to list its outsourcing platform in India and Ather Energy has hired a dozen bankers for an institutional fundraise, according to separate media reports.
InsuranceDekho
Girnar Insurance Brokers Pvt Ltd, the parent company of insurance aggregator InsuranceDekho, has selected multiple investment banks as advisers for a potential initial public offering, according to a Bloomberg report.
Backed by Investcorp and BNP Paribas Cardif, Girnar Insurance Brokers' offering could launch this year or early 2027. The company is targetting a raise as much as $400 million (around Rs 3,810 crore), Bloomberg reported. The IPO will comprise a fresh issue to raise capital and an offer for sale by some existing investors.
InsuranceDekho has tapped HSBC Holdings, Morgan Stanley, ICICI Securities and IIFL Capital Services as advisers, the report said, citing people familiar with the matter.
Straive
Swedish private equity firm EQT is looking to raise about $400 million (Rs 3,800 crore) by listing its outsourcing platform Straive on the Indian stock exchanges by early next year, according to The Economic Times.
The proposed IPO will comprise entirely an offer for sale, and it is expected to value the platform at about $2.5 billion (around Rs 23,810 crore), the report said, citing sources. In the proposed listing EQT is likely to offload a 15-20% stake in the offering. The company will file a draft prospectus with capital market regulator SEBI in September.
Axis Capital, Bank of America, IIFL Capital, and Goldman Sachs have been appointed as the book-running lead managers for the issue, according to the report.
Straive is a Singapore-headquartered provider of data analytics and AI-led solutions to global enterprises, including several Fortune 500 companies. It has operations across 16 locations in India.
Ather
Electric two-wheeler manufacturer Ather Energy has engaged a dozen investment banks as advisors for its first capital raise since its IPO in May last year, according to a Moneycontrol report.
Ather Energy was planning a July launch for an up to Rs 2,500 crore (around $263 million) fund raise and had discussed advisory roles with Axis Capital, HSBC Securities and Nomura. The fund raise would execute in two steps: via a qualified institutional placement (QIP), followed by a second tranche.
In addition to those banks, Kotak Mahindra Capital, Goldman Sachs, Avendus Capital and BofA Securities have also been onboarded, the report said. The report added, citing a second source, that Motilal Oswal, Ambit Capital, Emkay Global, BNP Paribas and CLSA have now joined the syndicate of bankers, bringing the total number of advisors to 12.
The company plans to launch the private placement in the next 10 to 12 days or so, depending on market conditions, Moneycontrol said.
Published by HT Digital Content Services with permission from VC Circle.