Mitul Shah & Associates

Bain-backed Dhoot Transmission is said to appoint banks for $250 million IPO

Dhoot Transmission Ltd., backed by Bain Capital, has enlisted Axis Bank, Kotak Mahindra Bank, Jefferies, and Nomura to manage its upcoming Mumbai IPO. The offering, anticipated next year, aims to raise approximately $250 million through a combination of fresh shares and secondary sales, potentially valuing the automotive-parts maker at up to $1.5 billion.

Walmart-backed PhonePe files for India IPO via confidential route

PhonePe, the Indian fintech firm backed by Walmart, has confidentially filed for an initial public offering, aiming to raise approximately 120 billion rupees. The company, a major player in India’s UPI payment system with over 600 million users, has seen its losses narrow to 17.2 billion rupees while revenue increased by 40% to 71.15 billion […]