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The stake sale attracted participation from several domestic and international institutional investors, with Axis Mutual Fund and Fidelity among the key buyers.
The funding round also saw participation from other existing investors Peak XV Partners, RTP Global, and Z47.
The latest sale follows another transaction in June, when Peak XV divested 33.33 lakh shares of Go Digit for around Rs 100 crore.
The investment comes soon after Neo secured funding from TVS Capital earlier in March.
The company has fixed the price band at Rs 144-152 per share for the issue.
Venture capital firm Bessemer Venture Partners joined the cap table as a new investor, while existing backers Khosla Ventures and Peak XV Partners also participated in the funding round.
Among the buyers, Aditya Birla Sun Life Mutual Fund picked up 21.66 lakh shares worth nearly Rs 65 crore.
Existing investors Peak XV Partners and Z47 participated in the funding round.
The venture capital firm expects to receive majority of the capital for the fund from foreign LPs.
The financial details of the deal, which is subject to regulatory approvals, were not disclosed.
These reports are the most comprehensive, portfolio-first examination of fintech and financial services playbook of Peak XV, Elevation and Accel to date.
The investment in M, which is operated by Curious Digital Pvt Ltd, is done at an estimated post-money valuation of Rs 300 crore.
Existing investor Tanglin Venture Partners and new investor GMO Venture Partners participated in the funding round.
Emergent Ventures, Arc180, Uncorrelated, HAF, and other angel investors participated in the funding round.
The anonymous social media startup will use the fresh capital to scale its artificial intelligence (AI)-powered product called Tal.
The startup is building an AI-native mobility infrastructure designed to eliminate friction in cross-border travel.
Shailesh Lakhani and Harshjit Sethi, who were managing directors at the venture capital firm, had come together last year to form the venture capital firm.
Fi had launched banking services in partnership with Federal Bank in 2021.
The coordinated exit of Ashish Agrawal, Ishaan Mittal and Tejeshwi Sharma comes at a time when Peak XV is in the middle of closing its first fully independent fund of $1.2-$1.5 billion.
We look into the return of Supper Apps; and Grok's recent controversy has pushed India to re-examine whether it's safe-harbour framework works for generative AI.
