Latest news with #SudhanshuAgarwal
Observer
5 days ago
- Business
- Observer
Tickmill partners with ProTrade Investments to expand its presence in Oman
Muscat - Tickmill has announced the expansion of its services in Oman, in collaboration with its strategic partner, ProTrade Investments. This expansion marks a significant milestone in Tickmill's commitment to strengthening its presence in the Middle East and providing tailored financial services to traders across the Arab world. The new operation in Muscat will serve as a regional hub, offering localized support, education, and expertise to clients in Oman and surrounding markets. The partnership with ProTrade Investments, a leading financial services provider in the Arab world with over nine years of experience, brings together two companies that share a vision for accessible, client-first trading services. Known for its exceptional 24/7 customer support and a humane approach to financial services, ProTrade is led by Ahmed Al-Moussawi, a seasoned expert in international financial markets. The headquarters at PoTrade's new office in Muscat, located on the first floor of Office 1991, Al Ghubrah Street, will officially open its doors on July 25, 2025.'The expansion of our services into Oman represents more than just geographical growth,' said Sudhanshu Agarwal, CEO of Tickmill. 'It is a testament to our long-term commitment to the Arab world and our strategic vision to empower local traders with world-class tools, education, and support. Partnering with ProTrade Investments enables us to combine global expertise with expert local insight.'Ahmed Al-Moussawi, CEO and founder of ProTrade added, 'We are proud to join forces with Tickmill to offer Omani traders a new level of professionalism and transparency. Our new joint operation in Muscat will serve as a vital resource for anyone seeking reliable, regulated access to global financial markets.'Tickmill, founded in 2014, is recognized globally for its transparency, innovation, and high standards of client fund protection. The company operates under the oversight of several prestigious regulators, including the UK's Financial Conduct Authority (FCA), CySEC in Cyprus, and the FSA in Seychelles. It is also recognized by the Dubai Financial Services Authority (DFSA) as a Representative Office. Backed by a team of seasoned traders with experience dating back to the 1980s, Tickmill continues to build trust with clients worldwide. The official opening on July 24 will include a launch event featuring leadership from both companies, special guests, and key members of the local trading community. For more information about Tickmill and its services, please visit
Fashion Network
30-05-2025
- Business
- Fashion Network
Citykart Ventures secures approx $65 million strategic investment
Value fashion retailer Citykart has secured Rs 538 crore in Series B funding, one of the largest investments in India's affordable fashion segment. The round was co-led by TPG NewQuest, a private equity platform under TPG, and A91 Partners, a domestic growth-focused investment firm. Of the total capital raised, around Rs 120 crore is primary funding to support Citykart's expansion in retail presence and product range, Entrackr reported. The remaining Rs 418 crore came from secondary transactions, facilitating an exit for early investor Investcorp. According to media reports, Investcorp's initial investment of Rs 75 crore in 2019 has grown to an exit value of approximately Rs 280–300 crore. India SME Fund retains a minority stake. Headquartered in Gurugram, Citykart has recently added 12 stores, bringing its total to 137 outlets across 91 cities in 11 states. The retailer focuses on Tier 2 and Tier 3 cities with in-house labels such as Athiya, Nimes, Fumee, and Remise, catering to over 15 million annual customers. Founder Sudhanshu Agarwal has previously stated the brand is targeting Rs 1,300 crore in annual revenue and aims to reach 300 stores. With a current growth rate exceeding 40%, Citykart positions itself as a budget-friendly fashion destination inspired by global models, according to its Facebook page.
Arabian Business
28-05-2025
- Business
- Arabian Business
Bahrain's Investcorp sells entire stake in Indian retailer Citykart
Investcorp, a Bahrain-based leading global alternative investment firm, announced the sale of its entire stake in Citykart, one of India's fastest-growing value retailers focused on Tier-2 and Tier-3 towns, to TPG NewQuest and A91 Partners. It represents the fifth full exit from the firm's India Consumer Growth Portfolio (ICGP) and the sixth liquidity event for the India franchise in the past 32 months. Gaurav Sharma, Partner & Head of India Investments at Investcorp, said Citykart was the very first deal the firm executed after formally entering India in 2019. Investcorp exits Citykart stake 'It epitomised our strategy of backing category-defining, founder-led businesses in high-growth segments. 'Today's outcome underscores our ability to generate attractive risk-adjusted returns, while supporting India's consumption story,' he said. The operating scale-up has seen Citykart's store network expand dramatically from 37 to 137 stores, leading to an estimated revenue of $102 million (INR 8.8 billion) for FY 2025. Investcorp said it has been instrumental in fostering a strategic partnership with Citykart founder Sudhanshu Agarwal, focusing on building a professional second line, integrating the W-Mart acquisition, revitalising underperforming stores, and optimising sourcing and inventory processes. Yusef al Yusef, Global Head of Distribution at Investcorp, said partnering with the Citykart team to triple the store base, steer the business through the pandemic and still outperform the fund's underwriting is immensely satisfying. 'We thank all stakeholders and are confident that TPG NewQuest and A91 will help Citykart accelerate its next growth phase,' he said. Besides Citykart, Investcorp's other recent realisations include the sale of its stake in luggage maker Safari Industries, a profitable exit from eyecare specialist ASG Eye Hospital, a planned IPO-led exit from health-benefits administrator Medi Assist Healthcare, and a partial exit from dialysis network NephroPlus. Investcorp's India private equity strategy targets asset-light opportunities across consumer and retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit.
Biz Bahrain
28-05-2025
- Business
- Biz Bahrain
Investcorp Announces Sale of Citykart to TPG NewQuest and A91 Partners
Investcorp, a leading global alternative investment firm, today announced the sale of its entire stake in Citykart, one of India's fastest-growing value retailers focused on Tier-2 and Tier-3 towns, to TPG NewQuest and A91 Partners. It represents the fifth full exit from the firm's India Consumer Growth Portfolio (ICGP) and the sixth liquidity event for the India franchise in the past 32 months. The operating scale-up has seen the store network expand dramatically from 37 to 137 stores. This leads to an estimated revenue of INR 8.8 billion (about US $102 million) for FY 2025. This growth is mirrored by a matching growth in EBITDA, with sustained industry leading margins. It has consistently delivered profitability while building core functions, strengthening governance, and attracting strong talent across leadership and mid-management levels. Furthermore, Investcorp has been instrumental in fostering a strategic partnership with founder Sudhanshu Agarwal, focusing on building a professional second line, integrating the W-Mart acquisition, revitalising under-performing stores, and optimising sourcing and inventory processes. Gaurav Sharma, Partner & Head of India Investments at Investcorp, said: 'Citykart was the very first deal we executed after formally entering India in 2019, and it epitomizes our strategy of backing category-defining, founder-led businesses in high-growth segments. Today's outcome underscores our ability to generate attractive risk-adjusted returns while supporting India's consumption story.' Yusef al Yusef, Global Head of Distribution atInvestcorp, commented: 'Partnering with the Citykart team to triple the store base, steer the business through the pandemic and still outperform our underwriting is immensely satisfying. We thank all stakeholders and are confident that TPG NewQuest and A91 will help Citykart accelerate its next growth phase.' Other recent realizations besides Citykart include the sale of its stake in luggage maker Safari Industries, a profitable exit from eyecare specialist ASG Eye Hospital, a planned IPO-led exit from health-benefits administrator Medi Assist Healthcare, and a partial exit from dialysis network NephroPlus. Investcorp's India private equity strategy targets asset-light opportunities across consumer & retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others, demonstrating Investcorp's commitment to scaling high-growth businesses while realising timely liquidity for investors.
Mid East Info
27-05-2025
- Business
- Mid East Info
Investcorp Announces Sale of Citykart to TPG NewQuest and A91 Partners - Middle East Business News and Information
Manama, Bahrain,May 2025 — Investcorp, a leading global alternative investment firm, today announced the sale of its entire stake in Citykart, one of India's fastest-growing value retailers focused on Tier-2 and Tier-3 towns, to TPG NewQuest and A91 Partners. It represents the fifth full exit from the firm's India Consumer Growth Portfolio (ICGP) and the sixth liquidity event for the India franchise in the past 32 months. The operating scale-up has seen the store network expand dramatically from 37 to 137 stores. This leads to an estimated revenue of INR 8.8 billion (about US $102 million) for FY 2025. This growth is mirrored by a matching growth in EBITDA, with sustained industry leading margins. It has consistently delivered profitability while building core functions, strengthening governance, and attracting strong talent across leadership and mid-management levels. Furthermore, Investcorp has been instrumental in fostering a strategic partnership with founder Sudhanshu Agarwal, focusing on building a professional second line, integrating the W-Mart acquisition, revitalising under-performing stores, and optimising sourcing and inventory processes. Gaurav Sharma, Partner & Head of India Investments at Investcorp, said: 'Citykart was the very first deal we executed after formally entering India in 2019, and it epitomizes our strategy of backing category-defining, founder-led businesses in high-growth segments. Today's outcome underscores our ability to generate attractive risk-adjusted returns while supporting India's consumption story.' Yusef al Yusef, Global Head of Distribution atInvestcorp, commented: 'Partnering with the Citykart team to triple the store base, steer the business through the pandemic and still outperform our underwriting is immensely satisfying. We thank all stakeholders and are confident that TPG NewQuest and A91 will help Citykart accelerate its next growth phase.' Other recent realizations besides Citykart include the sale of its stake in luggage maker Safari Industries, a profitable exit from eyecare specialist ASG Eye Hospital, a planned IPO-led exit from health-benefits administrator Medi Assist Healthcare, and a partial exit from dialysis network NephroPlus. Investcorp's India private equity strategy targets asset-light opportunities across consumer & retail, healthcare, financial services, B2B and technology. Its active Indian holdings include Global Dental, Wakefit, Canpac, Xpressbees, Zolo, Freshtohome, Intergrow Brands, Unilog, V-Ensure, and the buy-out of NSE IT, rechristened NuSummit among others, demonstrating Investcorp's commitment to scaling high-growth businesses while realising timely liquidity for investors. About Investcorp: Investcorp is a global investment manager specialising in alternative investments across four asset classes: Private Equity (Mid-Market Buyouts, Growth Investments, and GP Staking), Real Assets (Infrastructure and Real Estate), Credit (CLOs, Broadly Syndicated Loans & Structured Credit, and Middle-Market Direct Lending), and Liquid Strategies (Absolute Return Investments and Insurance Asset Management). Since our inception in 1982, we have focused on generating attractive returns for our clients and seeking to create long-term value in our portfolio companies by adopting a disciplined investment process, employing talented professionals, and utilizing the resources of a global institution with an innovative approach. We invest capital in our products and strategies, aligning interests with our clients and other stakeholders. We pursue sustainable value creation through our investments and in the communities in which we operate and take pride in partnering with clients to deliver tailored solutions for their needs. Today, Investcorp manages $55 billion in assets, including assets managed by third party managers. Investcorp has 14 offices in the US, Europe, GCC and Asia, including, India, China, Japan and Singapore and employs approximately 500 people from 50 nationalities globally.
