The Venture Codex

Led · Equity · Nov 2025

Founded in 2016, Wakefit has built a full-stack model that spans product design, in-house manufacturing, distribution, and customer engagement. Its portfolio covers mattresses, furniture, and home furnishings sold via its website, company-owned–company-operated (COCO) stores, and major e-commerce and multi-brand outlets. Wakefit operates five manufacturing facilities across Karnataka, Tamil Nadu, and Haryana that use imported machinery and automation to streamline production and reduce waste. For the six months ended 30 September 2025, the company generated ₹724 crore in revenue from operations and ₹35.5 crore in profit. Management plans to deploy fresh capital to open 117 new COCO stores, purchase new equipment, fund lease payments for existing outlets, and bolster marketing. The firm is preparing for a ₹1,289 crore IPO that would value it at roughly ₹6,400 crore. Wakefit’s growth trajectory positions it among the fastest Indian home-and-furnishings brands to surpass ₹1,000 crore in total income within the organised segment.

Participated · Equity · Nov 2025

Aequs is a diversified contract manufacturing company that began in the aerospace segment and has since expanded into consumer electronics, plastics, and cookware/small home appliances. Its customer roster includes major aerospace OEMs such as Airbus, Boeing, Bombardier, Collins Aerospace, Spirit AeroSystems, Safran, GKN Aerospace, and Honeywell, alongside consumer-sector clients like Hasbro, Spinmaster, Wonderchef, and Tramontina. The firm operates three manufacturing clusters in Karnataka (Belagavi, Hubballi, and Koppal) as well as additional plants in France and the USA. Founded by Aravind Melligeri (co-founder of QuEST Global Engineering), Aequs is backed by Amicus Capital, Amansa Capital, Steadview Capital, Catamaran, and Sparta Group. Ahead of its planned IPO, the company executed a ₹144 crore pre-IPO placement that values the new shares at ₹123.97 apiece and represents 1.88 % of equity. IPO proceeds are earmarked for debt repayment, machinery purchases for Aequs and subsidiary AeroStructures Manufacturing India, and growth initiatives including acquisitions. The IPO draft papers originally targeted a ₹720 crore fresh issue, but this has been trimmed to about ₹576 crore after the pre-IPO raise.

Participated · Equity · Oct 2025

Founded in 2007, Canara HSBC Life Insurance Company Ltd operates as a private, bank-promoted life insurer in India, offering term, savings, and other life insurance products primarily through the branch networks of its promoter banks. The company is a joint venture in which Canara Bank holds 51 %, HSBC Insurance (Asia-Pacific) Holdings owns 26 %, and Punjab National Bank is a minority shareholder. Over the years, the insurer has established itself as a significant player among private life insurance providers that leverage bancassurance distribution. To unlock shareholder liquidity, the firm is pursuing a public listing via a ₹2,516 crore initial public offering structured entirely as an offer for sale. Because the IPO is an OFS, the company itself will not receive primary capital; instead, proceeds will flow to the selling shareholders. Ahead of the IPO, the company allotted shares to anchor investors to bolster demand and provide pricing stability. Post-listing, Canara HSBC Life will gain enhanced public visibility and a broadened shareholder base, which management hopes will support future growth initiatives in India’s expanding life insurance market.

Participated · Equity · Oct 2025

Canara Robeco AMC Ltd. operates as an asset management company formed by Canara Bank and ORIX Corporation Europe NV. In preparation for its stock-market debut, the firm is conducting an initial public offering that is entirely an Offer for Sale, meaning the company itself will not receive any IPO proceeds. The IPO price band has been set at ₹253–266 per share, and retail investors can bid in lots of 56 shares (minimum outlay of ₹14,896). Prior to the IPO opening, the company allotted 1.49 million shares to anchor investors at the top-end price of ₹266. This anchor placement raised ₹397 million from more than 15 institutional investors. The IPO aims to sell shares worth ₹1,326 million, giving Canara Robeco AMC a post-issue market capitalisation of about ₹5,305 million. Trading in the shares is scheduled to commence on 16 October after the subscription closes and allotment is finalised.

Participated · Series B · Oct 2025

Rice Parent Co is a Mumbai-headquartered fintech founded in January 2021 by Praveen Yadav, Alok Pandey, J. Prakash Gupta and Runak Rathi. The company’s core offering is a high-speed, reliable stockbroking platform serving Indian retail investors. Its product suite also includes ScanX, which delivers market insights, and two planned financial-education platforms, Upsge and Filter Coffee. Rice Parent Co has trained an AI model on large financial data sets to enhance the information it provides to users. Management credits a product-first culture and strong technology focus for the firm’s rapid, profitable growth in less than four years. After raising a $120 million Series B, the company reached a valuation of about $1.2 billion, giving it fresh capital to expand further into investments, AI and broader financial-services offerings.