PayU has secured nearly $35.6 million (Rs 303 crore) from its Netherlands-based parent entity. In separate developments, AceVector Limited and Indira IVF Hospital Ltd. are both preparing to raise capital through initial public offerings (IPOs).
PayU secures $36m from parent firm
Digital payments firm PayU has secured nearly $35.6 million (Rs 303 crore) from its Netherlands-based parent entity, MIH Payments Holdings BV, which is owned by global consumer Internet group Prosus.
PayU’s board has approved the allotment of 4,86,88,258 equity shares at an issue price of ₹62.21 per share through a rights issue to raise the stated amount, Entrackr reported citing the company’s regulatory filings accessed through the Registrar of Companies (RoC).
Recently, PayU received final approval from the Reserve Bank of India (RBI) to operate as an online payment aggregator. The regulatory clearance allows the fintech company to begin onboarding new merchants onto its platform.
AceVector eyes $58m IPO
AceVector Limited, the parent company of e-commerce platform Snapdeal, is in the final stages of preparing to file its draft red herring prospectus (DRHP) to raise nearly Rs 500 crore through an IPO, Entrackr reported.
Headquartered in Gurugram, AceVector operates a diversified e-commerce ecosystem that includes the Snapdeal marketplace, SaaS-based e-commerce enablement platform Unicommerce, and consumer brands venture Stellaro Brands.
“The proposed issue will be majority primary capital and CLSA and IIFL are likely to be the bankers for the proposed IPO,” the report said citing sources.
AceVector counts Softbank, Kunal Bahl, Rohit Bansal, and Nexus Venture Partners among its key shareholders.
Indira IVF files draft IPO papers
EQT-backed Indira IVF Hospital Ltd. has confidentially submitted draft papers for an IPO for the second time through the Securities and Exchange Board of India’s (SEBI) pre-filing route.
The move comes nearly four months after the company reportedly paused its IPO plans due to the release of a Bollywood biopic based on its founder, Ajay Murdia, per media reports. Indira IVF was originally looking to raise Rs 3,500 crore through the IPO.
Private equity firm BPEA EQT had acquired 60% of Indira IVF Hospital Pvt. Ltd from TA Associates in 2023.
