Karthik's big thesis: four different structures, one direction of travel — cap tables getting cleaned up ahead of the IPO window.
Here are the highlights:
🏠 Aurum PropTech × Housing.com - ₹458 Cr all-equity share swap (0.6x FY25 revenue). REA India's stake in Aurum goes from 5.54% to 24.9%. Consolidation into a single proptech operating layer.
☀️ BlackSoil × Credit Fair (Solar) - ~₹45 Cr cash carve-out (0.3x AUM). Solar financing vertical detaches from Credit Fair's core lending business. ~80MW financed to date, targeting ~1GW.
🤖 Nurix AI × Verloop.io - Undisclosed acqui-hire. Verloop Chat + Nurix NuPlay Voice = unified voice-and-chat enterprise AI. Founder Gaurav Singh joins Nurix leadership. Backed by General Catalyst, Accel, Prosus.
🧴 Wipro Consumer Care × Good Home & Eva - ₹256 Cr (1.7x FY26 brand revenue). TTK Healthcare sheds non-core brands (~17% of turnover). Wipro's 17th brand acquisition.
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