IPO Financial News

A year after it acquired AGS Health from EQT in a billion-dollar transaction, global private equity firm Blackstone has hired bankers to plan a listing for the company at three times the buy value, three people with knowledge of the development said. The company, which is now being valued upwards of $3 billion, will look to raise around $500 million from the public market listing, these people added.AGS, which provides a host of services, including medical billing, claim submission, denial management and medical coding, has appointed investment banks JM Financial, Jefferies, ICICI Securities, Nomura and JP Morgan India and others for the IPO.“It will be a mix of primary plus secondary share sale,” said one of the people cited above.

Mint India Investment Summit, Ravishankar said India’s AI opportunity lies less in outspending global leaders and more in building useful products quickly and cost-effectively at scale, leveraging the country’s deep engineering talent.He outlined two broader areas where Indian startups can still create large businesses, even if the country is not yet at the cutting edge of global AI development.The first opportunity, he said, is that India will be a quick adopter of AI across large, everyday use cases. As AI tools improve, many familiar consumer and service categories could be reimagined from the ground up, he said.“India will be a fast follower and a quick consumer of AI in areas such as customer support, citizen services, travel and jobs, where new companies are beginning to rebuild internet products with AI at the centre,” Ravishankar said.The second opportunity lies in the layers around AI itself: infrastructure, software and tools that help other companies build and use AI products.Ravishankar said Indian teams are well-placed because of the country’s large developer base and growing technical talent pool.

On 19 March, SBI Funds Management Ltd, the company that runs SBI Mutual Fund, filed papers with the capital markets regulator to offer its shares to the public for the first time. If it follows through with that plan, as expected in the second half of 2026, all the top four mutual funds in India by assets under management (AUM) will be listed on the stock market. SBI Mutual Fund is the largest of the lot, a position it has achieved over the past decade.

Reserve Bank of India had adopted the inflation-targeting regime in 2016. While some have argued for raising the target or shifting focus from headline to core inflation, the dominant view is that the framework has broadly worked.Data shows inflation breached the band in only three of the past 10 years—two instances (2020–21 and 2022–23) driven by the pandemic and the Russia–Ukraine war.

. Also under consideration: unusual lockup times that limit share sales by early investors, preferential treatment for investors in his other companies and allocating an outsize portion of shares to individual investors, people familiar with the matter said.The company is considering hosting events at SpaceX locations including its sprawling complex near the Los Angeles airport and its rocket launch site in Florida’s Cape Canaveral area, people familiar with the matter said.

Mint's requests for a comment till the time of publishing.Everstone owns a majority stake in Subway India, which also counts Norwest Venture Partners and Playbook Partners among its investors.Nearly a year ago, Mint reported that Everstone was exploring a partial stake sale in the fast-food chain’s local operations as part of a $100 million private fundraising round. Those plans have since evolved, with the company now preparing for a public market listing.Everstone operates the master franchise of Subway restaurants in India through Eversub India, giving it the right to open and operate Subway restaurants in India, Sri Lanka, and Bangladesh.

Mint.Through 2025, the technology investor deployed $675 million in companies such as Urban Company, PayU, Rapido, Ixigo, Wiom, Deccan AI, CodeKarma and Arivihan.While these companies have reached some size and scale, they are still risky bets. “They're not mature businesses in that while their core offerings might be mature, they continue to add new verticals, so they're not mature in that sense,” said Sharma.The firm’s conviction in long-term bets comes as India’s tech ecosystem enters a more mature phase, marked by a wave of listings.

Billionaire Mukesh Ambani-controlled Jio Platforms Ltd is targeting a valuation of $120 billion to $140 billion in its public offer, which will see some of its existing investors, including TPG, KKR, General Atlantic, and Silver Lake, sell shares, according to two bankers familiar with discussions.Parent Reliance Industries Ltd is not expected to offload any shares, and the company is also not looking to issue new stock to raise capital, as it will be a standalone offer for sale by some of its shareholders, said the bankers, who didn’t want to be identified as discussions were private.Jio Platforms executives met with representatives of 17-19 investment banks this week before filing its draft papers with the regulator for the initial public offering (IPO).“Some of the selling shareholders were also part of this meeting,” said one of the senior bankers present. The meeting was held to outline the role of individual bankers in the book-building process, said another.A General Atlantic spokesperson and TPG declined to comment.

₹18,000 crore in planned fund-raising at risk. Thirteen mainboard companies are nearing their 12-month deadlines by June to launch their issues or lose regulatory approval.The impending expiry of these clearances, given by the Securities and Exchange Board of India (Sebi) between April and June 2025, underscores how volatile market conditions are prompting firms to defer listings, raising the prospect of higher costs, delayed timelines and a near-term squeeze on fresh market liquidity.Per PRIME Database, these include the Munjal family's ₹3,600-crore Hero Fincorp Ltd offer, Morgan Stanley-backed Continuum Green Energy Ltd's ₹3,650 crore plan, and Norwest Venture Partners-backed Veritas Finance Ltd's proposed IPO worth ₹2,800 crore.Following Sebi approval, companies typically file a red herring prospectus with the Registrar of Companies within four to six weeks.Sebi regulations mandate that companies must launch their IPOs within 12 months of receiving the final observation letter.

₹4,000-crore initial public offering (IPO) that was originally scheduled for March, amid market volatility, according to two people familiar with the matter.Bagmane had received regulatory approval for the draft offer document it filed last December. The company had begun roadshows for investors and analysts earlier this month in the run-up to the IPO.“The company was scheduled to file the updated offer document (UoD) in early March, and once the approval came in, planned to launch the public offering in March itself.

KP Singh joined the company, he inherited an enterprise with ambition but little room to operate.The opportunity lay just outside Delhi.In the early 1980s Haryana began licensing private developers to build residential colonies. DLF secured licences in 1981 and 1983, opening the door to large-scale development in the farmland surrounding Gurgaon. Singh travelled from village to village, persuading farmers to sell their land.

₹1,000–1,200 crore, three people familiar with the matter said.The firm is targeting a valuation between ₹5,000–7,000 crore for a listing and has appointed IIFL, Motilal Oswal and Axis Capital as advisors to help with the issue, the people added.“The listing, which is expected to happen in FY27, is largely dominated by an offer for sale by existing investors with a smaller primary component to raise fresh capital for expansion plans,” one of the people cited above said on the condition of anonymity.If it goes as planned, Rentomojo will join the growing list of startups such as PhonePe, Flipkart, Zepto, boAt, Shiprocket, Infra.Market, OfBusiness and Shadowfax that are looking to tap the public markets this year.However, rising tensions in West Asia have dampened investor sentiment and impacted valuations, prompting several companies, including PhonePe, to defer their listing plans.“The markets are uncertain and it’s difficult to see where the valuations will land,” a second person said.Mails sent to Rentomojo, IIFL, Motilal and Axis did not elicit a response till the time of publishing.Founded in 2014 by Geetansh Bamania and Ajay Nain, Rentomojo began with the aim to serve a new generation of urban Indian professionals who move cities frequently for work.The startup's subscription model allows customers to rent household essentials without committing to ownership—an offering increasingly relevant for professionals, especially those working in IT and BPO jobs.As it moves closer to an IPO, the company is increasing its focus on operational efficiency, customer trust, and scalable growth—key priorities as it transitions from a startup to a listed entity.Last year, Mint reported that the startup was looking to raise a fresh

After a board meeting on Wednesday, the Bengaluru-based company decided to reallocate ₹575 crore, out of ₹1,505 crore it raised for research and development (R&D) during the initial public offering (IPO), to pay debt and fund organic growth activities.The company’s disclosures showed that ₹475 crore will be used to fund upcoming debt, while ₹100 crore will be used for growth purposes. This is the second time since going public in August 2024 that the company has changed its use of funds, with the first change made in August 2025.The cut in funds to be used for R&D has come as the company has total debt obligations worth ₹526 crore for financial year 2026 and ₹610 crore for financial year 2027, excluding any other short-term debt.Subhabrata Sengupta, partner at Avalon Consulting, said that funds required for R&D can change, but such a reallocation isn’t a positive sign.“How much R&D spend is needed depends on the plan.

Even as several IPO-bound technology companies reassess launch timelines amid the war in West Asia, one critical element of their listing preparation—shifting their corporate domicile back to India—remains largely unaffected.Mint’s analysis of EY data shows that nearly 20 Indian tech startups have either shifted, are in the process of shifting, or are considering shifting their headquarters back to India ahead of planned listings. Of these, 13 companies have already completed the restructuring or are in the process of it, signalling that the trend is becoming a structural feature of India’s new-age tech IPO pipeline.These companies were founded in India but chose Singapore or US holding structures to tap global capital, regulatory flexibility and overseas listing, according to experts.Prominent startups, including Flipkart, PhonePe, Razorpay and Zepto, have already shifted their holding companies back to India from Singapore and the US ahead of their listings.There are some tax implications for companies shifting back, as they may lose the ability to ‘carry forward’ previous years' business losses to offset future taxable profits, according to tax experts.Further, capital gains tax on existing investors applies if the shift is made via a share swap, in which foreign shareholders exchange their shares for shares in the Indian entity.

Mumbai: Global private equity firm L Catterton’s India pool of capital, led by former Hindustan Unilever (HUL) chief Sanjiv Mehta, is eyeing more proprietary deals in the country after deploying over $100 million across companies like Farmley, Haldiram’s and Healing Hands Clinic over the last year.“Our deals are primarily proprietary in nature, and we don’t take part in intense bidding processes. This preferential access allows us to have better returns for our investors through better pricing discipline.

Reliance Jio was waiting for the government's nod for 2.5% public shareholding norms, and will now move ahead with its plans to tap the capital markets.Last week, the finance ministry allowed large companies above a certain market cap to list with just 2.5% stake sale through public offers, as against the minimum 25% requirement earlier.The rules allow companies with a post-issue valuation of above ₹5 trillion ($54 billion) to dilute a minimum of 2.5% equity, a drop from the previous 5% limit. The easing will also help companies such as the National Stock Exchange (NSE) to successfully list on Indian exchanges, Mint reported earlier.Mint also reported this month that India has emerged as the second-largest IPO market globally by proceeds and the most active by number of deals in 2024, with companies raising about ₹1.6 trillion across more than 300 listings.

Mint. “That creates an alternative to the China supply chain."For a company best known for consumer products, the shift marks a strategic expansion into the enterprise segment and reflects a broader shift in India’s manufacturing landscape.Many core components used in appliances, particularly motors, compressors and electronic controllers, have historically been imported largely from China.

emerging market (EM) public equities for a simple reason. Over the past two decades, the MSCI EM index has significantly underperformed US equities despite far stronger economic growth.Nominal GDP in EM economies has expanded roughly fivefold over the past 20 years, compared with about 2.5 times in the US. Corporate profits have also grown faster in EM, rising about 3.3 times over the period.

ChrysCapital’s $700-million continuation fund alongside HarbourVest and LGT Capital Partners in 2024.Broadly, India has emerged as an increasingly attractive destination for LPs and its regional weight has increased amid China’s slowdown, according to a report by McKinsey that was released earlier this month.The report added that India accounts for more than a third of all Asia–Pacific investment exposure among surveyed LPs. Data notes that private equity and venture capital deals expanded 1.6-fold to $207 billion between 2016-20 and 2021-25 while exits for the same period more than doubled to around $120 billion, the consultancy firm said.Pantheon has also benefited from improving liquidity through India’s public markets.“Over the last year, we certainly got some liquidity from the IPO markets, and this has been very encouraging for us as global investors to be able to continue deploying capital,” Sood said.However, he struck a cautious note as geopolitical tensions and macroeconomic uncertainties continue to pose risks to deal activity across both public and private markets.“While we have a significant presence in Asia-Pacific, the risks are elevated in the short-term due to a confluence of factors.

₹23,000 crore, based on unlisted share prices. A large syndicate of bankers will also help widen investor outreach and support book-building for the offer.At current unlisted valuations and the indicative offer size, NSE’s IPO could become India’s largest ever.

Strait of Hormuz, have disrupted oil supplies and pushed up crude prices—an especially sensitive issue for India, which imports roughly 80% of its fuel.The turbulence has already weighed on domestic markets. The country's benchmark indices have plunged about 4% since the beginning of the war until 11 March.