&w=3840&q=100)
Indira IVF's $408 million India IPO may see EQT, founders exit stake
The company, backed by private equity firm EQT AB, plans to submit the so-called draft red herring prospectus later this month, according to the people, who asked not to be identified discussing a private matter. The deal won't involve the issue of new stock as existing shareholders will be selling their holdings, the people said.
EQT will probably offload 29 billion rupees of shares in the offering, and three members of the founding family — Ajay Murdia, Kshitiz Murdia and Nitiz Murdia — will each sell shares worth Rs 2 billion, the people said.
A spokesperson of the company didn't immediately respond to an email seeking comment.
The company had initially submitted a draft prospectus in February but withdrew it in March. The withdrawal came as the IPO plans coincided with the release of a Bollywood biopic based on the company's founder, which drew concerns from the Securities and Exchange Board of India, according to the Economic Times.
Founded in 2011, Indira IVF operates more than 155 fertility centers and works with 315 IVF specialists across India as of September 2024, according to a previously filed preliminary prospectus.
Kotak Mahindra Capital Co., IIFL Capital Services Ltd., JPMorgan Chase & Co. and UBS Group AG are advising on the IPO.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
11 minutes ago
- Economic Times
Uttar Pradesh government extends old-age pension to 61 lakh beneficiaries, raises target
Synopsis Uttar Pradesh has surpassed its initial target of providing old-age pensions to 61 lakh beneficiaries in the first quarter of 2025-26, leading the government to increase the goal to 67.50 lakh. The implementation of a single nodal account system has streamlined the process, ensuring transparent and direct transfers to Aadhaar-linked accounts. iStock Uttar Pradesh has achieved the target of extending old-age pension support to 61 lakh beneficiaries in the first quarter of 2025-26, prompting the state government to raise the bar to 67.50 lakh beneficiaries, an official statement said on the first quarter of the previous financial year, the Uttar Pradesh government met its goal by crediting Rs 1,000 monthly pension into the bank accounts of 56 lakh elderly 2025-26, the Social Welfare Department set a target of 61 lakh pensioners under the old-age pension scheme - a milestone it has already surpassed, prompting the government to raise the target even higher, the statement introduction of the single nodal account (SNA) system has made the pension distribution process fully digital and transparent, it this system, pension amounts are transferred directly to the Aadhaar-linked accounts, eliminating middlemen and ensuring timely, corruption-free disbursement. The SNA system also facilitates faster payments, easier audits, and more efficient fund tracking, ensuring that every rupee is used for its intended purpose, the statement old-age pension scheme remains a cornerstone of the Yogi Adityanath government's public welfare agenda, aimed at making financially vulnerable senior citizens the scheme, all eligible individuals aged 60 years and above receive Rs 1,000 per month to ease their financial the scheme's expansion began in 2017 - when it covered 37.47 lakh beneficiaries - its reach has nearly doubled, with the government now targeting 67.50 lakh keeping with the chief minister's directives, anyone found eligible beyond the set target is also included in the reach of the scheme has grown steadily since 2018-19, when 40.71 lakh beneficiaries received Rs 1,879 2019-20, the numbers rose to 47.99 lakh (Rs 2,698 crore), and in 2020-21 to 51.24 lakh (Rs 3,694 crore).The upward trend continued with 51.92 lakh (Rs 4,278 crore) beneficiaries in 2021-22, 54.97 lakh (Rs 6,083 crore) in 2022-23, and 55.68 lakh (Rs 6,464 crore) in 2024-25, 55.99 lakh elderly beneficiaries received pensions, the statement scheme is now even more accessible through its online application facility. In the rural areas, applications are verified by the block development officer, while in urban areas, the sub-district magistrate is responsible. The annual income limit for eligibility is Rs 56,460 in urban areas and Rs 46,080 in rural areas, the statement said.
India.com
14 minutes ago
- India.com
India's top 3 richest families are bigger than Pakistan's GDP, first one is Mukesh Ambani and family, other two are…
The Ambani family is the richest in India, with the total value of the Reliance Industries promoter family's business at Rs 28.2 lakh crore about one-twelfth of India's GDP. The family holds the top position in 2025 Hurun India Most Valuable Family Business list. Who Are After Mukesh Ambani & Family? In this year's list, the Kumar Mangalam Birla family ranks second, with their business value rising by Rs 1.1 lakh crore to Rs 6.5 lakh crore. The Jindal family is at third with Rs 5.7 lakh crore, up by Rs 1 lakh crore from last year. The combined business value of India's top three families is $471 billion (Rs 40.4 lakh crore) which is higher than Pakistan's GDP (around $400 billion) and matches with the GDP of the Philippines. Who Is In Hurun India Most Valuable Family Business List ? Most of India's richest families are from industries like energy, financial services, and software sectors that lead in value creation. In the Barclays Private Clients Hurun India Most Valuable Family Business List 2025 . The Bajaj family ranks fourth with Rs 5.6 lakh crore, led by Sanjiv Bajaj. This family has been active in financial services since 1926. The Mahindra family, headed by Anand Mahindra, holds fifth place with Rs 5.4 lakh crore, which operates in automobiles and other sectors. The Nadar family is sixth with Rs 4.7 lakh crore, led by Roshni Nadar Malhotra, chairperson of HCL Technologies, a major IT services company. In seventh place is the Murugappa family with Rs 2.9 lakh crore, led by Vellayan Subbiah, who heads their financial services arm, Cholamandalam Investment and Finance. The Premji family ranks eighth with Rs 2.8 lakh crore, led by Rishad Premji of IT giant Wipro. The Agarwal family, headed by Anil Agarwal, is ninth with Rs 2.6 lakh crore, with interests in metals and mining through Hindustan Zinc. In tenth place are the Dani, Choksi, and Vakil families, owners of Asian Paints, with a valuation of Rs 2.2 lakh crore.
India.com
14 minutes ago
- India.com
Minimum Balance Requirement For Savings Accounts In Metro And Urban Branches: From Rs 0 To Rs 50,000- Check How Much You Need To Maintain In HDFC, SBI, ICICI And Other Bank's
photoDetails english 2945158 Updated:Aug 12, 2025, 08:37 PM IST ICICI Bank 1 / 10 The bank, India's second-largest private sector bank, has raised its minimum account balance requirement to Rs 50,000 per month for metro and urban branches, up from the previous Rs 10,000 per month minimum for metro and urban savings accounts. HDFC Bank: 2 / 10 HDFC Bank, India's largest private sector bank, requires customers in urban branches to maintain a minimum monthly balance of Rs 10,000 or hold a fixed deposit of Rs 1 lakh for at least one year and one day. For semi-urban branches, the requirement is an average monthly balance of Rs 5,000 or a fixed deposit of Rs 50,000 for the same duration. In rural branches, customers must maintain an average quarterly balance of Rs 2,500 or a fixed deposit of Rs 25,000 for the same period. Yes Bank: 3 / 10 According to Yes Bank's official website, its basic savings deposit account does not require customers to maintain a minimum balance. However, for premium savings accounts, the average minimum balance requirement is Rs 10,000 per month for the Savings Account PRO and Rs 25,000 per month for the Savings Account PRO Plus. The bank also offers customers the option to maintain a fixed deposit worth five times the average minimum balance requirement as an alternative. Axis Bank: 4 / 10 Axis Bank requires customers to maintain an average monthly balance of Rs 10,000 across all locations, including semi-urban and rural branches, or hold a fixed deposit of at least Rs 50,000 for a minimum tenure of 12 months. For a Priority Savings Account, the minimum balance requirement is Rs 2,00,000 per month across metro, urban, semi-urban, and rural branches. If the required balance is not maintained, the bank charges 6% on the shortfall of the average balance, with the penalty capped at Rs 600. State Bank of India (SBI) 5 / 10 India's largest public sector bank, the State Bank of India (SBI), does not require its customers to maintain any minimum balance on a monthly or quarterly basis. As per the official website, both the Savings Bank Account and the Savings Plus Bank Account come with zero minimum balance requirements each month. Kotak Mahindra Bank: 6 / 10 Kotak Mahindra Bank, the third-largest private sector bank after ICICI Bank, requires customers to maintain a minimum balance ranging from Rs 10,000 to Rs 20,000, depending on the type of savings account. Bank of Baroda: 7 / 10 According to official data, Bank of Baroda customers must maintain a minimum Quarterly Average Balance (QAB) of Rs 2,000 for metro branches, Rs 1,000 for semi-urban branches, and Rs 500 for rural branches. Punjab National Bank (PNB): 8 / 10 PNB requires its customers to maintain a minimum monthly balance of Rs 10,000 in metro locations and Rs 5,000 in urban branches. For semi-urban branches, the minimum balance is Rs 2,000 per month, while rural branches require a minimum monthly balance of Rs 1,000, as stated on the official website. Union Bank of India: 9 / 10 This bank requires its customers to maintain an average quarterly balance of Rs 1,000 for metro and urban branches, while the minimum for semi-urban branches is Rs 500. For rural branches, a savings bank account must maintain an average quarterly balance of Rs 250, according to the official website. IDBI Bank: 10 / 10 According to the official website, IDBI Bank requires a minimum account balance of Rs 10,000 for savings accounts in metro and urban branches, Rs 5,000 for semi-urban branches, and Rs 2,500 for rural branch customers. Additionally, IDBI Bank's Rural Financial Inclusion (FI) branches have a minimum monthly balance requirement of Rs 1,000, as per official data. (Image Credit: Social Media)
