According to the draft red herring prospectus (DRHP), the proposed IPO will include a fresh issue of shares worth ₹800 crore, along with an offer-for-sale (OFS) of 4.85 crore equity shares by existing shareholders.

As part of the OFS, stakeholders such as Curefit Healthcare, Iron Pillar PCC, Crimson Winter, Accel India V, Chiratae Ventures India Fund IV, Global eCommerce Consolidation Fund, and Alteria Capital Fund will offload shares.

The Bengaluru-based company, which owns brands like CakeZone and Nomad Pizza, also intends to raise up to ₹160 crore through a pre-IPO round. If the company completes this placement, it will accordingly reduce the size of the fresh issue.

Curefoods plans to allocate ₹152.54 crore from the IPO proceeds toward expansion and equipment. This includes ₹126.32 crore for setting up new Krispy Kreme cloud kitchens, restaurants, kiosks, and central kitchens; ₹19.91 crore for expanding select existing kitchens by adding new brands; and ₹6.31 crore for the purchase of machinery and equipment.

Additionally, Curefoods plans to allocate ₹126.93 crore from the IPO proceeds toward debt repayment, ₹40 crore for lease payments on its existing properties across India, and ₹14 crore for sales and marketing activities.

The company also intends to invest ₹91.96 crore in its subsidiary Fan Hospitality Services, ₹11.35 crore in Cakezone Foodtechs, and ₹81.15 crore to increase its shareholding in three other subsidiaries—Millet Express Foods, Munchbox Frozen Foods, and Yum Plum.

A portion of the proceeds will be reserved for future acquisitions, strategic initiatives, and general corporate purposes.

Curefoods India, a tech-enabled multi-brand food services platform, offers a wide range of cuisines through a mix of cloud kitchens, kiosks, and dine-in restaurants, catering to both delivery and non-delivery customers.

JM Financial, IIFL Capital Services, and Nuvama Wealth Management are acting as the book-running lead managers for the IPO.

Wakefit’s draft red herring prospectus (DRHP) reveals that several of its investors—including Paramark, Investcorp, Verlinvest SA, Redwood Trust, and Peak XV Partners—plan to offload a portion of their holdings through an offer for sale (OFS). Founders Ankit Garg and Chaitanya Ramalingegowda will also participate in the OFS.

The company will offer a total of 5.8 crore shares, raising ₹468 crore through the fresh issue, while the remaining capital will come from the offer for sale (OFS) component. According to earlier reports, Wakefit aims to raise around ₹1,500–2,000 crore (approximately $200 million) through the IPO.

The company has appointed Axis Capital, IIFL Capital Services, and Nomura as its IPO advisors.

Wakefit, which has secured over $100 million (approximately ₹850 crore) in funding from investors such as Peak XV Partners, South Korea’s Paramark Ventures, Europe’s Verlinvest, and others, is now aiming to provide partial exits to some of its early backers.

Launched in 2016 by Ankit Garg and Chaitanya Ramalingegowda, Wakefit began as a mattress-focused brand and later expanded into related segments like cots, tables, chairs, and a wide range of home furnishing products to drive revenue growth.

The company has significantly scaled its revenue—from ₹199 crore in FY20 to ₹1,017 crore in FY24—while also reducing its losses from ₹146 crore in FY23 to just ₹15 crore in FY24, as per regulatory filings.

Wakefit’s IPO marks a major milestone in its growth journey, reflecting the company’s strong financial performance and successful diversification beyond mattresses. With backing from prominent investors and a sharp reduction in losses, the IPO will not only provide partial exits for early stakeholders but also position Wakefit for its next phase of expansion in the competitive home solutions market.

The subscription for the IKS Health IPO opens on Thursday, December 12, and will remain open until Monday, December 16. Moreover, the allocation for anchor investors is scheduled for Wednesday, December 11, offering them an early opportunity to participate.

Additionally, with its competitive pricing and support from prominent investors, the IPO is expected to attract significant attention. Investors looking to diversify their portfolios should keep an eye on this offering as the subscription period approaches.

The price band for the Inventurus Knowledge Solutions IPO has been set at ₹1,265 to ₹1,329 per equity share, representing 1,265 times and 1,329 times the face value of Re 1, respectively. At the upper limit of the price band, the price-to-earnings (P/E) ratio based on diluted EPS for fiscal 2024 stands at 60 times, highlighting its valuation metrics.

Investors must bid for a minimum of 11 equity shares in the IPO and can place bids in multiples of 11 shares after that. This structure ensures accessibility for both retail and institutional investors.

With these details, the IPO offers an intriguing opportunity for those seeking to invest in a high-growth, well-backed company.

The Inventurus Knowledge Solutions IPO has allocated fewer than 75% of the shares to qualified institutional buyers (QIBs), at most 15% to non-institutional investors (NIIs), and up to 10% to retail investors. Additionally, the IPO has reserved 65,000 equity shares for employees.

The company will finalize the basis of allotment for the IPO on Tuesday, December 17. It will initiate refunds on Wednesday, December 18, and credit shares to the demat accounts of successful allottees on the same day. The shares will likely debut on the BSE and NSE on Thursday, December 19.

The company’s promoters include Sachin Gupta, Rekha Jhunjhunwala, and the Aryaman, Aryavir, and Nishtha Jhunjhunwala Discretionary Trusts. Their prominent backing and strategic share allocation are set to attract significant attention from investors to the IPO. 

Founded in 2006, Inventurus Knowledge Solutions Limited (IKS Health) provides specialized services to healthcare organizations, focusing on administrative support. The company helps doctors and healthcare providers manage their paperwork and other administrative tasks, allowing them to focus on patient care. IKS Health offers various services, including clinical support, medical documentation management, virtual medical scribing, and more.

This healthcare technology firm aims to streamline patient care access and reduce the administrative burden on healthcare professionals.

According to the red herring prospectus (RHP), IKS Health stands out in the market. No other listed companies in India or abroad offer a similar business model or operate at a comparable scale, making it challenging to compare the company with industry peers.

The Inventurus Knowledge Solutions IPO is a book-built offering, with 1.88 crore shares being offered entirely through an offer-for-sale (OFS) component. This unique opportunity presents potential for investors to enter the growing healthcare technology sector.

The selling shareholders in the Inventurus Knowledge Solutions IPO include the AshraFamily Trust, Joseph Benardello, Gautam Char, Parminder Boina, the AryamanJhunjhunwala Discretionary Trust, the Aryavir Jhunjhunwala Discretionary Trust, theNishtha Jhunjhunwala Discretionary Trust, Jeffery Phillip Freimark, Shane Hsuing Peng, and Berjis Minoo Desai.

Additionally, the book-running lead managers for the IPO are ICICI Securities Limited, Jefferies India Private Limited, JM Financial Limited, J.P. Morgan India Private Limited, and Nomura Financial Advisory and Securities (India) Pvt Ltd. Link Intime India Private Ltd serves as the registrar for the offering.

Moreover, the IKS Health IPO GMP (Grey Market Premium) today stands at +225, indicating that the shares are trading at a premium of ₹225 in the grey market, according to Investorgain.com.

Considering the upper end of the IPO price band and the current grey market premium, the estimated listing price of Inventurus Knowledge Solutions shares is expected to be around ₹1,554 apiece. This reflects a potential 16.93% gain over the IPO price of ₹1,329, presenting an attractive opportunity for investors.

The IPO includes a fresh issue of equity shares with a face value of INR 1 each, totaling up to INR 2000 crores. This offering aims to support the company’s growth and expansion plans.

Initially founded as the hospitality arm of Panchshil Realty, a Pune-based real estate conglomerate, Ventive transitioned into a 50% joint venture with BRE Asia in 2017. BRE Asia, formerly Xander Investment Holding XVI Limited, is an affiliate of Blackstone.

The company’s hospitality portfolio includes prestigious global brands such as Marriott, Hilton, Minor, and Atmosphere. Some flagship properties include JW Marriott Pune, The Ritz-Carlton Pune, Conrad Maldives, and Anantara Maldives. As of March 31, 2024, their portfolio features 11 operational assets in India and the Maldives, with 2,036 keys across luxury, upper-upscale, and upscale segments.

Since its inception in 2007 with just 83 keys, Ventive has expanded significantly through acquisitions and developments. Recent additions include properties in Bengaluru, Varanasi, and the Maldives, focusing on luxury and upscale segments to cater to diverse business and leisure needs. Between 2019 and 2024, they added 1,070 keys, representing more than 50% of their current portfolio.

Luxury properties dominate Ventive’s revenue, contributing over 80% of their pro forma revenue from hotel operations during FY22, FY23, and FY24. Notably, the company’s pro forma revenue and EBITDA consistently ranked among the highest for hospitality asset owners in India during the same period.

Ventive aims to capitalize on increasing hospitality demand and the relatively low supply in key markets like India and the Maldives. India remains one of the fastest-growing major economies, while the Maldives continues to rank among the world’s top tourist destinations.

The company plans to expand its portfolio by adding 367 keys by FY2028. Planned developments include new assets near popular tourist attractions in Varanasi, Bengaluru, and Pottuvil, Sri Lanka.

JM Financial, Axis Capital, HSBC Securities, ICICI Securities, IIFL Securities, Kotak Mahindra Capital, and SBI Capital Markets will manage the IPO.

By March 31, 2024, the company had expanded to 13 cities with 41 centers covering 8 million square feet.

It recently ventured into the international market by leasing a 35,000-square-foot space in Singapore.

Since 2019, Keppel Ltd., a Singapore-based firm, has supported Smartworks with investments totaling $29 million.

Smartworks recently raised Rs 168 crore (about $20.24 million) from investors such as Keppel Ltd, Ananta Capital Ventures Fund I, Plutus Capital, and several family trusts. The company plans to spend Rs 238 crore over the next three years on fitting out new centers.

The IPO will include a fresh equity issue worth Rs 550 crore and an offer for sale (OFS) of 67.59 lakh shares, as mentioned in the Draft Red Herring Prospectus (DRHP).

Additionally, Smartworks may raise Rs 110 crore through a pre-IPO placement. It will allocate Rs 140 crore to repay loans, while the rest will go toward general corporate expenses.

The company, with 8 million sq ft and 180,000 seats, recorded Rs 1,039 crore in revenue for FY24, reflecting a 46% growth compared to the previous year.

At the upper end of this range, BlackBuck’s parent, Zinka Logistics, expects to raise around Rs 1,114.7 crore through this book-building issue.

The IPO will include a fresh issue valued at Rs 550 crore, along with an offer for sale (OFS) of up to 20.6 million equity shares. Investors must bid on at least 54 shares, with bids increasing in multiples of 54.

Last month, BlackBuck received IPO approval from the Securities and Exchange Board of India (Sebi).

Founders Rajesh Yabaji, Chanakya Hridaya, and Ramasubramanian Balasubramaniam plan to sell roughly 4.4 million shares. Investors Accel and Peak XV Partners, along with Flipkart, will also participate in the OFS. Flipkart, through Quickroutes International Private Limited in Singapore, will sell 5.5 million shares, while the World Bank-backed International Finance Corporation (IFC) will sell 2.3 million shares.

For FY24, BlackBuck’s revenue from operations increased by 68% year-on-year, reaching Rs 297 crore. Its net loss was reduced to Rs 167 crore, down from Rs 237 crore in the previous fiscal year.

This IPO, valued at Rs 11,300 crore, is among the largest in India this year. It is likely to open on November 6 and will include a secondary sale of Rs 6,800 crore through an offer for sale (OFS) and a primary capital raise of Rs 4,500 crore, which will go directly to Swiggy.

First filed with SEBI in April, this IPO has attracted significant interest from both global and domestic investors, including BlackRock, CPPIB, and SBI Mutual Fund.

Prosus, which holds a 31% stake in Swiggy through MIH India Food Holdings, is expected to recoup over half of its $1 billion investment by selling less than a fifth of its stake.

Swiggy’s last private valuation hit $10.7 billion in January 2022 after a $700 million funding round led by US asset manager Invesco.

The joint venture, which could become India’s largest international multi-brand hotel owner by EBITDA, aims to raise around INR 2,500 crore through a fresh issue of shares.

Ventive Hospitality owns luxury hospitality assets, including nine in India, three in the Maldives, and one in Sri Lanka. The company also manages five office parks and retail spaces connected to these hotels, totaling around 3.5 million sq ft.

The company has appointed JM Financial and Kotak Mahindra Capital to manage the IPO. It may also hire additional bankers before the filing, sources said.

Blackstone, Panchshil, JM Financial, and Kotak Mahindra did not immediately respond to requests for comment.

Ventive Hospitality reportedly posted an EBITDA of around INR 875 crore last year, up from INR 771 crore the previous year, surpassing Chalet Hotels. The company has a portfolio of around 2,400 keys, with about 400 under development. Six of its Indian hotel properties are in Pune, two in Bengaluru, and one in Varanasi.

2019 Chalet Hotels, owned by real estate developer K Raheja Corp, launched an IPO. Chalet Hotels currently operates 10 hotels with 3,052 keys, including JW Marriott Mumbai Sahar and The Westin Mumbai Powai Lake. Last fiscal year, it reported a 20 percent rise in EBITDA to INR 604 crore and a 52 percent increase in profit after tax to INR 278 crore.

Ventive Hospitality’s luxury assets, including JW Marriott and The Ritz-Carlton in Pune and Conrad and Anantara in the Maldives, contributed over 80 percent to its revenue in the last three fiscal years.

This IPO would mark Blackstone’s first in India’s real estate segment. Previously, Blackstone and its partners launched three real estate investment trusts (REITs): Embassy Office Parks, Mindspace Business Parks, and Nexus Select Trust.

The company, based in the city, might raise ₹110 crore through a pre-IPO placement. If this placement occurs, the amount will be deducted from the fresh issue size.

From the fresh issue, ₹282.30 crore will be allocated to capital expenditure for fitting out new centres and for security deposits for these centres. Additionally, ₹140 crore will go towards repaying loans, and the remaining funds will be used for general corporate purposes.

Smartworks Coworking Spaces Ltd is a leading platform that provides office experiences and managed campuses.

The company specializes in leasing large, bare-shell properties in prime areas and converting them into fully serviced, tech-enabled campuses with modern amenities.

These campuses feature cafeterias, sports zones, gyms, crèches, medical centres, and more, creating a modern and appealing work environment. The company serves businesses of all sizes, especially mid-to-large companies requiring over 300 seats.

Smartworks focuses on cities like Bengaluru, the Mumbai Metropolitan Region, Hyderabad, Gurugram, and Chennai.

As of March 31, 2024, India’s commercial office space was about 841.2 million square feet and is projected to grow at an annual rate of 6.71% to reach 1,079.3 million square feet by the end of 2027, according to the draft papers.

Flexible workspaces have become a crucial part of modern work culture, accommodating different working styles and adding flexibility to the office market.

JM Financial Ltd, BOB Capital Markets Ltd, IIFL Securities Ltd, and Kotak Mahindra Capital Company Ltd are managing the company’s IPO process.

As Cerebras prepares to attract investors, it does so during a high excitement for AI. This enthusiasm benefits companies that provide essential infrastructure for training chatbots.

However, the firm may face scrutiny regarding Nvidia’s strong market position. Nvidia’s dominance has propelled it into the $1 trillion club and even briefly made it the world’s most valuable company, surpassing Microsoft.

The upcoming IPO will also test the market’s interest in AI-related stocks. Recently, concerns about excessive AI spending have led some investors to shift their focus from tech stocks to value stocks.

Cerebras has received support from prominent investors like the Abu Dhabi Growth Fund and Coatue Management.

Filing for an IPO confidentially allows companies to keep their financial details private for as long as possible.