Seafood supply chain startup Captain Fresh is gearing up for a public market debut, aiming to raise approximately $200 million (Rs 1,700 crore) through a fresh issue of shares. In another development, Credgenics has acquired debt collection firm Arrise.
Captain Fresh confidentially files IPO papers
Bengaluru-based seafood supply chain startup Captain Fresh is gearing up for a public market debut, aiming to raise approximately $200 million (Rs 1,700 crore) through a fresh issue of shares, per media reports.
According to Yourstory, the company has restructured itself as a public limited entity under the name Infifresh Foods Ltd and has submitted confidential filings to India’s securities regulator in preparation for its initial public offering (IPO).
The IPO is expected to comprise both a fresh issue and an offer-for-sale (OFS), with the total size projected to fall between $350 million and $400 million.
The funds raised are intended primarily for debt repayment.
Credgenics acquires Arrise
Credgenics, a SaaS-based debt collection and resolution technology platform, announced on Tuesday that it has acquired debt collection firm Arrise.
The move will harness Credgenics’ collections technology leadership and Arrise’s expansive pan-India network, it said in a statement.
Founded in 2019, Arrise has a presence across 25+ Indian states through a network of over 5,000 professionals and provides calling services in 13+ vernacular languages. Arrise will continue to operate under its existing leadership team for a minimum period of five years.
Together, Credgenics and Arrise are poised to rapidly grow the combined annual revenue to Rs 850 crore over the next three years.
