Vikram's big thesis: despite market volatility and a slowdown in bell ringings, the pipeline of companies filing DRHPs remains strong and the public markets continue to be the primary liquidity engine for VC/PE-backed companies in India.
Here are the highlights:
🌶️ Pushp Brand DRHP - Indore-based spices and masala company (best known for hing). Backed by A91 Partners and Sixth Sense Ventures.
⚡ Dhoot Transmission DRHP - Electrical harnesses, cable systems, EV components. Bain Capital and Mangalam Capital on the cap table.
🏦 Arohan Financial Services DRHP - MFI-NBFC for low-income households. Impact investor-heavy cap table.
👟 Gaurik Fashion DRHP - Operates stores for Skechers, Guess and other international brands. Small but interesting.
💳 InCred Holdings DRHP - NBFC for MSMEs and consumers. Founded by ex-Deutsche Bank banker. KKR, Zerodha-backed.
🔔 Kissht IPO - Instant credit and EMI financing platform. Stock climbed in its first week post-listing.
💰 Post-IPO block trades - Groww, Lenskart, Delhivery, Pine Labs, One Source Speciality Pharma all saw meaningful secondary activity from institutional investors.
🌱 Honasa (Mamaearth) declared its first dividend - a signal that new-age companies are entering a new phase of maturity.
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