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The IPO preparations come as InsuranceDekho continues to work on its merger with insurance distribution platform RenewBuy.
The move comes as India's primary market continues to see strong listing activity, with a growing pipeline of startups and new-age companies preparing to go public.
Shareholders participating in the sale include State Bank of India, Canada Pension Plan Investment Board (CPPIB), MS Strategic (Mauritius) Limited, Aranda Investments (Mauritius) Pte Ltd and Bank of Baroda, among others.
The Bengaluru-based payments firm is planning to raise around $600-700 million through its proposed public offering at a valuation of $5-6 billion.
The approval for the stock broking business covers fixed-income instruments like corporate bonds, government securities, and treasury bills.
The Bengaluru-based company plans to raise Rs 1,250 crore through a fresh issue of equity shares.
The urgency to form the task force comes in the wake of Anthropic's controlled rollout of Mythos under a programme called Project Glasswing.
The regulator said entities such as Infinite Beacon, IB Prop Desk and Sispay TFS raised funds while presenting themselves as being associated with the SEBI-registered broker.
PhonePe had filed its updated (DRHP) for its IPO with the Securities and Exchange Board of India earlier in January.
The stock exchange has been attempting to list since 2016 to provide exit to its investors.
The IPO comprises of fresh issue of shares worth up to Rs 1,500 crore, and an offer for sale (OFS) worth up to Rs 1,500 crore.
The IPO will open for bidding on February 9 and close on February 11. The anchor bidding will take place on February 8.
The IPO comprises of fresh issue of equity shares of up to Rs 660.7 crore, and an offer for sale (OFS) of up to 28.6 million equity shares by shareholders.
The market regulator's nod for PhonePe's IPO comes in the wake of a slew of public offers by new age tech companies in India in the past months.
The planned share sale will involve issuing new equity worth up to Rs 1,000 crore while allowing early backers to divest roughly 8.8 million existing shares.
Meanwhile, fintech companies, Pine Labs and Groww, have already made their public market debut this year.
We dive into Sebi’s caution on digital gold and the ripple effect it has created; and how a blunder at a newspaper has exposed that journalists are using ChatGPT far more than they admit.
In today’s edition of Money & Machines, we bring to you the honest opinions, critical notes and the whispers gathered on the sidelines of biggest fintech “mela" in the world.
August 29th Edition: We track Groww’s hush-hush IPO filing and why unicorns are choosing silence over spotlight; and how OpenAI’s India office could ignite a PE gold rush in AI.
While the company has disclosed financials till Q1FY25, the FY25Q2 and FY25Q3 will give a clear view on the performance of MobiKwik.
