Shiprocket is gearing up to confidentially file for an IPO, while Blackstone has submitted a non-binding offer for the Indian arm of Statkraft.
Shiprocket to submit draft IPO papers
Temasek and Zomato-backed logistics unicorn Shiprocket is gearing up to confidentially submit its draft IPO papers with the capital markets regulator Securities and Exchange Board of India (Sebi), according to media reports.
The IPO, estimated to raise around Rs 2,000-2,500 crore, is likely to include a combination of fresh equity issuance and an offer for sale (OFS) by existing shareholders, they added.
Established in 2012, Shiprocket has transformed from a shipping solutions provider into a comprehensive e-commerce enabler, catering to direct-to-consumer (D2C) brands and MSMEs across India.
The company is said to have appointed Axis Capital, BofA Securities, JM Financial, and Kotak Mahindra Capital as its lead managers for the offering.
The proceeds from the issue could be used for product development and strategic acquisitions besides expanding its logistics and warehousing infrastructure and strengthening its technology stack.
Blackstone eyes first renewable energy deal in India
Global PE giant Blackstone has submitted a non-binding offer of $1.5 billion for the Indian arm of Statkraft, which manages a 2-gigawatt renewable energy generation portfolio, per a report by The Economic Times (ET).
This is the first time Blackstone is understood to be evaluating a renewable energy acquisition in India.
The PE giant, which holds an investment portfolio worth $50 billion in India, recently made headlines when it closed a global energy transition fund raising $5.6 billion.
The offer has been approved by Norway-based Statkraft’s global board, the ET report further stated, adding that a law firm is expected to submit a due diligence report to all the bidders this week.
