New Delhi, Aug. 3 -- NSE and Jio Platforms are set to launch their public issues by September, while Shiprocket is expected to launch its initial public offering (IPO) shortly.

Meanwhile, Cloudnine's stake sale race has narrowed to two private equity firms, and the International Finance Corporation (IFC), the World Bank Group's private sector investment arm, is in talks to invest in a genetic testing firm, according to separate media reports.

NSE, Jio

National Stock Exchange of India Ltd (NSE) and Reliance Industries' Jio Platforms are set to launch their IPOs in September as a host of companies prepare to tap the capital markets in the second half of the year, Mint reported, citing industry executives and bankers.

Both NSE and Jio Platforms filed their draft papers in June to raise around Rs 30,000-31,500 crore and Rs 37,000-37,700 crore, respectively.

Cloudnine

The race to acquire a significant minority stake in maternity and pediatric hospital operator Cloudnine has narrowed to two investors, The Economic Times reported.

Global private equity firms TPG Capital and Permira have emerged as the frontrunners. The proposed deal is expected to value the company at around Rs 11,000 crore ($1.15 billion), the report said, citing people familiar with the matter. The report added that due diligence has been completed and binding bids are expected by mid-August.

Last month, VCCircle reported that British private equity firm Permira and US-based investors KKR and TPG had emerged as the frontrunners, while Advent International had dropped out of the race.

Shiprocket

Shiprocket is expected to launch its IPO within a week or two at a valuation of about Rs 7,000 crore, The Economic Times reported, citing people familiar with the matter.

The Gurugram-based company is likely to be valued about 30% below its last private funding round, when it was valued at around Rs 10,000 crore after raising capital from US conglomerate Koch Group, Japan-based MUFG Bank, Silicon Valley-based Tribe Capital, Susquehanna International Group, and Huddle Ventures in December 2024, the report said.

While the lower valuation reflects tepid market conditions, it has helped Shiprocket to attract some of the largest mutual funds and institutional investors to participate in its anchor book, according to the report. The company is also expected to file an updated prospectus with revised financials before launching the offering.

IFC-Datar Cancer Genetics

The IFC is in talks to invest in genetics testing company Datar Cancer Genetics, according to a DealStreetAsia report.

Datar Cancer Genetics is an oncology company specialising in genetic testing and molecular diagnostics services, the report said. According to its website, Datar Cancer has developed a range of non-invasive blood tests that provide personalised insights to help guide cancer treatment. Rajan Datar is the company's promoter.

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