Latest news with #DRHP
Time of India
2 days ago
- Business
- Time of India
Fusion CX plans to raise Rs 1,000cr through IPO for expansion and debt repayment
Kolkata: City-based Fusion CX Limited — a customer experience (CX) service provider delivering high-end and integrated CX services across multiple channels, including voice, email, chat, social media, and messaging — plans to raise Rs 1,000 crore through an IPO (Initial Public Offering) and has filed a DRHP (Draft Red Herring Prospectus) with SEBI. The company focuses on key verticals, including telecom, high-tech growth and travel (HTT), BFSI, retail, and healthcare. According to the DRHP, the IPO comprises a fresh issue of equity shares aggregating up to Rs 600 crore and an offer for sale of equity shares aggregating up to Rs 400 crore. The OFS comprises a stake sale by the promoter-selling shareholders — P N S Business Private Limited and Rasish Consultants Private Limited. Fusion CX proposes to utilise the net proceeds of the fresh issue towards funding the following objectives: Rs 291.8 crore towards repayment/prepayment of certain outstanding borrowings availed by the company and certain subsidiaries (direct and certain step-down subsidiaries); Rs 74.7 crore towards investment in step-down subsidiaries, Omind Technologies Inc., and Omind Technologies Private Limited for upgrading IT tools; and the remaining towards pursuing inorganic growth through unidentified acquisitions and other strategic initiatives and general corporate purposes. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Trade Bitcoin & Ethereum – No Wallet Needed! IC Markets Start Now Undo As per the DRHP, a pre-IPO placement may be undertaken by the company aggregating up to Rs 120 crore, before the filing of the RHP with the registrar of companies. Fusion CX reported revenue from operations of Rs 991 crore and a profit after tax (PAT) of Rs 36 crore for FY24, while its revenue for the nine months ended FY25 (9MFY25) was Rs 925 crore with a PAT of Rs 47 crore. Nuvama Wealth Management Limited, IIFL Capital Services Limited, and Motilal Oswal Investment Advisors Limited are the book-running lead managers to the issue. The equity shares are proposed to be listed on BSE and NSE.
Time of India
2 days ago
- Business
- Time of India
Oyo to meet bankers next week for third IPO attempt; eyes $5–7 billion valuation
Oravel Stays, the parent of hospitality firm Oyo, is set to formally invite pitches from merchant bankers next week as it gears up for a third attempt at an initial public offering (IPO), people familiar with the matter told ET. 'Oyo's management has been holding informal discussions with bankers over the past month and is now moving to formally hear proposals,' one person aware of the matter said. 'Some banks have floated a potential valuation as high as $10 billion, but Oyo's internal expectations are more grounded, in the $6–7 billion range.' The company is in talks with both Indian and international investment banks and is likely to file its draft red herring prospectus (DRHP) between August and September this year, another source said. The company is targeting a public listing in the March–April 2026 window, the person added. This marks Oyo's third attempt towards a public listing. It first filed a DRHP with the Securities and Exchange Board of India (Sebi) in 2021, targeting an IPO size of Rs 8,430 crore, but withdrew the proposal in 2022. A second attempt via Sebi's confidential filing route in 2023 was also pulled back in 2024. One key factor influencing the IPO push is the pressure from a $2.2 billion loan taken by founder Ritesh Agarwal in 2019 to increase his stake in the company. Sources indicated that discussions with lenders about extending the repayment timeline are linked to Oyo's listing plans. A round of strategic talks between Oyo's board and major shareholders, including SoftBank—which owns around 40% of the company—is slated for June. 'The board and shareholders, including SoftBank, are aligned on taking the company public soon, particularly after the sharp turnaround in business,' a person aware of the matter said, adding that Oyo is estimated to have posted a net profit of Rs 620 crore in FY25. Oyo did not respond to ET's queries. The development was first reported by Press Trust of India. The company has rationalised its global operations while consolidating its presence in key markets such as India, the US, Europe and Southeast Asia. Oyo is yet to file its financials for FY25 but is expected to include them—along with Q1 FY26 results—in its upcoming DRHP. Last year in August, Oyo raised Rs 1,457 crore from a consortium of investors at a sharply lower valuation. In December, it raised $825 million in debt from Deutsche Bank to finance its acquisition of US motel chain Motel 6 for $525 million. The all-cash deal is Oyo's largest acquisition to date.
Business Upturn
2 days ago
- Business
- Business Upturn
Hero FinCorp gets SEBI nod for Rs 3,668 crore IPO
By Aman Shukla Published on May 28, 2025, 15:36 IST Hero FinCorp has secured approval from the Securities and Exchange Board of India (SEBI) for its ₹3,668 crore Initial Public Offering (IPO). The market regulator's update on May 22 confirmed the clearance, following the company's submission of its Draft Red Herring Prospectus (DRHP) in August 2024. The IPO will comprise a fresh issue of equity shares worth ₹2,100 crore and an Offer for Sale (OFS) amounting to ₹1,568 crore. Existing investors participating in the OFS include AHVF II Holdings Singapore II Pte. Ltd, Apis Growth II (Hibiscus) Pte. Ltd, Link Investment Trust (via Vikas Srivastava), and Otter Ltd. As per the DRHP, the net proceeds from the fresh issue will be used to augment Hero FinCorp's capital base to support future lending activities. SEBI's issuance of observations on May 22 signifies its approval for the launch of the IPO. The company is expected to announce further details regarding the offer timeline and pricing in the coming weeks. Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
3 days ago
- Business
- Time of India
Coal India unit CMPDIL files draft papers with SEBI for IPO
New Delhi: Coal India Limited (CIL) has filed the Draft Red Herring Prospectus (DRHP) for the proposed initial public offering (IPO) of its wholly owned subsidiary, Central Mine Planning & Design Institute Limited ( CMPDIL ), with the Securities and Exchange Board of India ( SEBI ), Bombay Stock Exchange (BSE), and National Stock Exchange of India Limited (NSE). The IPO comprises an offer for sale of up to 7.14 crore (71,400,000) equity shares by Coal India Limited, the company said in a regulatory filing. The filing was made on May 26, 2025, under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The IPO remains subject to the receipt of applicable approvals, market conditions, and other relevant considerations, the company said. CMPDIL is a wholly owned subsidiary of Coal India Limited and provides mine planning and consultancy services in the coal sector.
Time of India
3 days ago
- Business
- Time of India
CMPDI files DRHP for IPO as CIL plans to offload 10% stake
Kolkata: Central Mine Planning and Design Institute (CMPDI) — the engineering, design, and exploration arm of Coal India — will be the first subsidiary of the Maharatna coal giant to be listed. CMPDI filed a DRHP (Draft Red Herring Prospectus) with SEBI (Securities and Exchange Board of India) for an IPO (Initial Public Offering) on Tuesday. According to the DRHP, CIL will offload a 10% stake in CMPDI. Currently, Coal India has eight subsidiaries, and CMPDI, wholly owned by CIL, is its only non-coal-producing subsidiary. Out of its 71 crore shares in CMPDI, CIL will offload 7.1 crore shares. The entire IPO will be an offer for sale with no fresh issue. CMPDI prepares perspective plans, renders consultancy services, and undertakes exploration and drilling work at coal reserves. It also collects data for the preparation of mining projects. CIL earlier said that the process of listing two subsidiaries — BCCL (Bharat Coking Coal Limited) and CMPDI — has begun, and draft papers will be filed soon with SEBI. According to the DRHP, CMPDI generated a revenue of Rs 2,102 crore and a profit after tax (PAT) of Rs 666 crore in 2024-25. In 2023-24, it had a revenue of Rs 1,732 crore and a PAT of Rs 503 crore. Experts said CMPDI was very crucial now, as CIL is looking to acquire lithium blocks in Australia and Argentina. CMPDI, with its expertise in mineral exploration and development, is well-positioned to capitalise on this trend and establish itself as a key player in the Indian lithium market, they added. "By leveraging its capabilities and investing in research and development, CMPDI can help augment India's lithium resources, optimise mining and beneficiation costs, and contribute to the country's energy security and sustainability goals," the company stated in the DRHP.
