Lic ipo

(Representative Image) Sequoia Capital-backed Indian skincare startup Mamaearth is in talks to raise at least $300 million in a planned IPO next year and is seeking a valuation of around $3 billion, three people with direct knowledge of the company's plans told Reuters Founded in 2016, Mamaearth has become popular in India with its range of "toxin-free" products such as face washes, shampoos and hair oils. It competes with Unilever's India unit, Hindustan Unilever, and Procter & Gamble Co in the booming personal care industry. The company was last valued at $1.2 billion in January this year when it raised fresh funds from investors including Sequoia and Belgium's Sofina. Mamaearth is targetting a valuation of around $3 billion – 10-12 times forward earnings based on sales growth and future revenue potential, a person briefed on the discussions said. It plans to file draft regulatory papers by the end of this year, said sources, who declined to be named as the plan is … [Read more...] about Indian skincare startup Mamaearth eyes $3 billion valuation in 2023 IPO – sources

- A + A (June 22): Malaysia’s state-owned investment firm Johor Corp could seek to raise about 1 billion ringgit ($227 million) in an initial public offering of its plantation unit, according to people with knowledge of the matter. The investment arm of the Johor State government is asking bankers for pitches for the potential listing of Kulim Malaysia Bhd, and is targeting a valuation of around US$1 billion for the unit, the people said. An IPO in Kuala Lumpur could happen as early as next year, said the people, who asked not to be identified as the process is private. The Kulim listing would come as a three-year rally in crude palm oil prices has begun to sputter, falling from its peak in March as Indonesia ramps up exports. Deliberations are ongoing and details of the IPO such as size and timing could change, the people said. Johor Corp is continuously reviewing its investments, and is committed to improving the value proposition of Kulim, said Hasnina Hafiz, … [Read more...] about Malaysia state firm Johor Corp weighs IPO for US$1 bil palm oil arm

Share to Twitter Share to Linkedin Prime Infrastructure Capital —controlled by billionaire Enrique Razon, Jr. —is raising as much as 28.2 billion pesos ($518 million) in an initial public offering on the Philippine Stock Exchange in October to bankroll investments in renewable energy and water utilities. The company plans to sell as much as 1.94 billion shares (including an overallotment option of up to 175.6 million shares) at a maximum price of 14.60 pesos each, according to the IPO prospectus it submitted to the Securities and Exchange Commission on Tuesday. The IPO—which is being handled by CLSA as global coordinator and bookrunner, and by BDO Capital and BPI Capital as domestic underwriters—comes as Prime Infra steps up investments in renewable energy and water utilities. Prime Infra had earlier this month announced plans to build the world’s biggest solar farm in partnership with Solar Philippines—which was founded by businessman Leandro … [Read more...] about Billionaire Enrique Razon’s Prime Infra To Raise Up To $518 Million From Philippine IPO

Maker of popular point-of-view sports cameras, GoPro, announced Friday its plans to go public . advertisement The San Mateo, Calif.-based company said it has filed documents for a “secret” IPO –the same route Twitter took–with the SEC, allowing it to keep financial details under wraps until shortly before trading . Under the JOBS Act, companies with less than $1 billion in annual revenue can file a confidential IPO. At TechCrunch Disrupt last year, GoPro founder and CEO Nick Woodman had alluded to the company’s IPO ambitions . In December, GoPro raised $200 million from Hon Hai Precision, better known as Chinese manufacturer Foxconn, for an 8.88% stake in the company. advertisement advertisement advertisement advertisement advertisement … [Read more...] about GoPro Files Documents For A Secret IPO

- A + A (June 24): SoftBank Group Corp-backed ride-sharing start-up Socar Inc is set to file for an initial public offering (IPO) of at least 154.7 billion won (US$119 million or about RM520 million) as soon as Friday (June 24), testing investor appetite for new tech stocks in an adverse market. South Korea’s biggest car-sharing service provider plans to sell 4.55 million new shares at an indicative price range of 34,000 won to 45,000 won apiece, according to a document reviewed by Bloomberg . The company, which will list on the Korea Exchange on Aug 18, plans to use the proceeds mainly for acquisitions and to cover operational costs. The IPO will put the start-up’s market capitalisation at a minimum of about 1.1 trillion won, which compares with a 2.4 trillion won valuation calculated based on its 12-month revenue through March and peer comparison, the document showed. The discount highlights a growing challenge for start-ups trying to raise funds as stock markets … [Read more...] about SoftBank-backed ride start-up seeks at least US$119m in IPO

- A + A KUALA LUMPUR (June 24): Instant beverage premix manufacturer Orgabio Holdings Bhd's initial public offering (IPO) for the public portion has been oversubscribed by 50.86 times. In a statement on Friday (June 24), the company said a total of 7,562 applications seeking 642.7 million new shares were received from the Malaysian public for 12.39 million new shares that were made available for public subscription. It said the bumiputera public portion of shares was oversubscribed by 45.52 times, after a total of 4,674 applications for 288.3 million shares were received. Meanwhile, 2,888 applications for the remaining public portion amounting to 354.4 million shares were received, representing an oversubscription rate of 56.19 times. Orgabio said the 6.2 million new shares offered to its eligible directors and employees had also been fully subscribed. Orgabio executive deputy chairman Datuk Ean Yong Tin Sin said the response received for the company's IPO … [Read more...] about Orgabio’s IPO public portion oversubscribed 50.86 times

Setu co-founder Sahil Kini, Pine Labs CEO B Amrish Rau and Setu co-founder Nikhil Kumar (L-R) Merchant payments and lending platform Pine Labs has acquired fintech infrastructure specialist Setu for $70-75 million to strengthen its diversified online payments and lending offerings ahead of its plans to list in the United States, the company said on June 23. ​Founded in 2018 by Nikhil Kumar and Sahil Kini, Setu offers API (application programme interface) integration for fintech players to work closely with regulated entities like banks, NBFCs and others. Setu's founders will continue to lead the company and brand name and will function independently, the founders said in an address to the media. Sahil Kini, co-founder and CEO of Setu said, "As part of this acquisition, Setu will retain its brand identity, business, team and customers. We will get to grow further with access to Pine Labs' large merchant network." Setu offers open APIs across four categories—data, … [Read more...] about IPO-bound Pine Labs acquires fintech infra startup Setu for $70-75 million

PhonePe CEO Sameer Nigam (Image credit: Photo tweeted by @_sameernigam) Payments and financial services company PhonePe has clear plans to list on the stock exchanges some day and when ready the company will launch an initial public offering (IPO) in India, founder and CEO Sameer Nigam said. Speaking in an episode of CNN News18 ’s Bits to Billions, Nigam said that the company is also in the process of moving its registered entity from Singapore to India. Missed Bits to Billions? Watch it here: PhonePe Is Made In India, Will List In India: How Sameer Nigam & Rahul Chari Built A Unique Unicorn "We are moving our holding company to India, and we will list here. Our board has already signed off on it, it's just a matter of time now," he said. "We are a made in India company. Every office, data centre, and employee of ours is here. There is no reason why we should not contribute to wealth creation in this market." Close PhonePe's move to bring back its … [Read more...] about PhonePe is made in India and will list in India, says CEO Sameer Nigam

- A + A (June 22): Jack Ma’s Ant Group Co. is poised to apply for a key financial license as soon as this month, according to people familiar with the matter, a sign that its lengthy overhaul following a squashed 2020 listing is getting closer to satisfying China’s financial regulators. The People’s Bank of China intends to accept Ant’s application to become a financial holding company once it’s submitted and will then start a review process, which could take months, said the people, asking not to be identified discussing a private matter. Officials will examine Ant’s capital strength and business plans, as well as the compliance of its shareholders and senior management before a final signoff. The moves would mark a crucial development in Ant’s revamp, affirming that the company can maintain its financial operations under the supervision of the central bank. While that clears a path for it to eventually revive a public offering, Ma’s fintech juggernaut will be a … [Read more...] about Jack Ma’s Ant to apply for key license as soon as this month

- A + A (June 22): Chinese President Xi Jinping chaired a meeting Wednesday that approved promoting the “healthy” development of the payment and fintech sectors, a sign that a broad crackdown on tech companies like Ant Group Co may be easing. The meeting of the central commission for deepening overall reform also backed enhancing regulation of major payment platforms, state broadcaster China Central Television reported, adding that companies would be encouraged to return to their roots while the authorities will improve regulation. As part of the plans, China would ensure the security of payment and financial infrastructure, and work to prevent and defuse systemic financial risks, CCTV said. The government will also enhance oversight of financial holding companies and financial institutions invested by platform firms, the report said, without adding details. Beijing has promised to unwind crackdowns that torpedoed Ant’s record initial public offering in 2020 and … [Read more...] about China approves plan for ‘healthy’ development of fintech sector