Swaraj Singh Dhanjal

India: Set for bank status, microfinance lender Ujjivan plans IPO to ensure its overseas holding drops to 49%

Ujjivan Financial Services Pvt. Ltd, the microfinance lender that was granted a provisional licence to convert into a small finance bank, has hired investment banks to start work on a Rs.1,500 crore initial share sale, according to two people familiar with the development. Ujjivan, in which foreigners owned 88.69% as on… Read more »


India: Café Coffee Day parent IPO fully subscribed on closure

The initial public offering (IPO) of Coffee Day Enterprises Ltd (CDEL), which runs India’s largest cafe chain Café Coffee Day, was subscribed completely by 1.30pm on the last day of the share sale on Friday, according to data available on the stock exchanges. TheRs.1,150 crore issue opened on 14 October…. Read more »


Indian microlender-turned-small finance bank Equitas plans IPO

Chennai-based microfinance institution Equitas Holdings Ltd, which recently received in-principle approval from the Reserve Bank of India (RBI) to convert itself into a small finance bank, will file draft initial public offering (IPO) papers in the next few days, three people familiar with company’s plans said. Equitas Holdings will be… Read more »


India: Cafe Coffee Day parent raises $51m crore from anchor investors

Coffee Day Enterprises Ltd (CDEL), the holding company of the Cafe Coffee Day chain of cafes, on Tuesday raised nearly $51 million (Rs.334.2 crore) from anchor investors, including both foreign and domestic institutional investors, according to the company’s filings with the stock exchanges. The shares were issued to these investors… Read more »


After funding, managing surplus cash a headache for Indian start-ups

Capital Float, a start-up that lends to e-commerce merchants, raised $13 million from venture capital firms SAIF Partners and Sequoia Capital in February. The two-year-old company was suddenly flush with cash. Its founders were, however, at a loss about how to manage the funds that would be needed several months… Read more »


I-banks Axis Capital, Edelweiss & Kotak Mahindra Capital top gainers in India’s IPO boom

Local investment banks (i-banks) have won most of the mandates to manage initial public offerings (IPOs), propelling them to the top of the 2015 IPO league table in a boom year for primary market activity. Their global rivals are likely to make a strong comeback in the last three months… Read more »


Starbucks rival Cafe Coffee Day to launch India’s biggest IPO in 3 years next week

Coffee Day Enterprises Ltd (CDEL), the holding company of the Cafe Coffee Day (CCD) chain of restaurants founded by V.G. Siddhartha, will launch itsRs.1,150-crore initial public offering (IPO) on 14 October. The firm has fixed a price band of Rs.316-328 for the issuance, said two people aware of the development… Read more »


India: Motilal Oswal PE invests $14m in mattress maker Kurlon

Motilal Oswal Private Equity managed India Business Excellence Fund has invested $14m (about Rs 90 crore) in mattress maker Kurlon Enterprise Ltd, the fund said in a statement on Tuesday. Kurlon makes rubberized coir, foam and spring mattresses in India. The money will be used for capacity addition, expanding the distribution network… Read more »


India: Parag Milk Foods files IPO, plans to raise $50m

Dairy firm Parag Milk Foods Ltd and infrastructure firm GVR Infra Projects Ltd on Thursday filed their draft initial public offering (IPO) papers with the capital markets regulator Securities and Exchange Board of India (Sebi). Parag, backed by IDFC Alternatives and Motilal Oswal Private Equity, plans to raise $50 million… Read more »


India: Sequoia backed-Quick Heal Technologies files for IPO

Quick Heal Technologies Ltd, which makes security software products and solutions, on Wednesday filed its draft initial public offering (IPO) papers with capital markets regulator Securities and Exchange Board of India (Sebi). The firm is looking to raise Rs.250 crore through the IPO, according to the draft red herring prospectus… Read more »