Participated · Equity · Nov 2025

Founded in 2016, Groww began as a direct-to-consumer mutual fund distributor and has evolved into a full-stack wealth management platform offering stockbroking, digital lending, and allied financial services. It now holds the position of India’s largest stockbroker with 13 million active traders as of February, outpacing rivals Zerodha and Angel One. The company recently deepened its advisory capabilities by acquiring PayU-backed fintech Fisdom for roughly $150 million. Financially, Groww’s FY25 revenue rose 31 % year-over-year to Rs 4,056 crore while net profit more than tripled to Rs 1,819 crore, a sharp turnaround from the prior year’s one-time tax-driven net loss. Its valuation has more than doubled since 2021, reflecting strong investor confidence. In May, Groww confidentially filed draft papers with SEBI for an IPO targeting $700 million–$1 billion, underscoring its near-term expansion ambitions. Existing backers include Peak XV Partners, Tiger Global, Ribbit Capital, Iconiq Capital, and Singapore’s sovereign wealth fund GIC.

Participated · Equity · Oct 2025

Orkla India, formerly known as MTR Foods, is a multi-category packaged food manufacturer best known for its MTR, Rasoi Magic and Eastern spice and condiment brands. The company’s portfolio spans spices, masalas, ready-to-eat meals, sweets and breakfast mixes that are distributed across India. In anticipation of a stock market listing scheduled for 6 November, Orkla India is conducting a ₹1,667 crore initial public offering that is structured entirely as an offer for sale by its existing shareholders. At the top end of the ₹695–730 price band, the IPO would value the business at about ₹10,000 crore. Current promoters Orkla Asia Pacific Pte Ltd and Orkla ASA together hold 90 % of the shares, while Navas Meeran and Feroz Meeran each own 5 %. Because the IPO does not include a fresh issue, the company will not receive proceeds; however, the public listing is expected to enhance its market visibility and provide liquidity to existing backers. Ahead of the IPO, the company completed a ₹499.6 crore anchor placement to a mix of domestic and foreign institutional investors.

Participated · Equity · Oct 2025

Founded in May 2016 and headquartered in Bengaluru, WeWork India provides a range of flexible workspace solutions under the global WeWork brand. Its portfolio spans 59 operational centres with 94,440 desks across 6.48 million square feet of leasable area as of September 30 2024. Management states the business is now self-sustaining, having invested heavily in infrastructure over the past eight years and recently using internal funds to pay down debt. Current cash generation is sufficient to fund ongoing operations and further expansion, so the company is not seeking primary capital in its IPO. Instead, the listing is intended to provide liquidity and position the company for future growth opportunities using existing resources. WeWork India benefits from affiliation with WeWork Global, which operates in 35 countries and roughly 600 locations worldwide, augmenting brand recognition and enterprise customer acquisition.

Participated · Equity · Oct 2025

Lenskart operates as a multi-category eyewear retailer, offering prescription eyeglasses, sunglasses and contact lenses under its own brand. The company caters to customers looking for affordable and stylish vision-care products. In preparation for its public listing, Lenskart has set an IPO price band of ₹382–₹402 per share. Ahead of the IPO, it has already secured significant capital through an anchor allocation, reflecting institutional confidence in the business. While detailed revenue or user metrics were not disclosed, the sizable anchor book suggests robust market interest and expectations for continued growth. The upcoming IPO will provide additional capital for expansion and operational initiatives once the public issue is completed.

Participated · Equity · Aug 2025

BlueStone Jewellery operates the BlueStone brand offering contemporary jewellery through physical stores and in-house manufacturing. The Bengaluru-based company introduced the BlueStone brand in 2011 and, as of March 31, 2025, had 275 stores across 117 cities and 26 states and Union Territories, covering over 12,600 PIN codes. It operates three manufacturing facilities located in Mumbai, Jaipur and Surat. BlueStone has filed an IPO that includes a fresh issue of ₹820 crore and an offer for sale, aggregating to a potential ₹1,540.65 crore transaction at the upper end of the price band. Proceeds from the fresh issue are intended to fund working capital requirements and general corporate purposes. The company raised over ₹693.29 crore from anchor investors by allocating more than 1.34 crore equity shares at ₹517 apiece ahead of the IPO. Bluestone manufactures and retails high-value jewellery including gold, diamonds, and pearls, selling rings, pendants, chains, and earrings through its retail outlets and website. The company operates over 190 stores across 75 cities in India. It raised about $12 million (Rs 100 crore) in debt financing from Neo Markets via a debenture issuance. The board passed a special resolution to issue 10,000 debentures at Rs 100,000 each to raise the amount. Bluestone had been seeking $100 million from Peak XV Partners, Steadview Capital, and Think Investments ahead of a planned IPO. In September last year it raised around $66 million from Ranjan Pai and others and has raised $190 million to date. The company was established in 2011 in Bengaluru. BlueStone is an omnichannel jewellery retailer that sells jewellery online and through physical stores. Founded in 2011 and operated by BlueStone Jewellery and Lifestyle Pvt Ltd, it began as an online retailer shipping jewellery across India and abroad. The company currently operates 70 retail stores and plans to launch 100 more in the next fiscal year, targeting a cumulative 300 stores by financial year 2024 and expansion into cities including Visakhapatnam, Jaipur, and Indore. With this round it plans to step up its manufacturing capabilities. For the fiscal year ending March 2022 the company expects revenue of ₹500 crore, an 85% increase over the prior year, and it is targeting about ₹2,000 crore in annual revenue within the next two years. It is backed by investors such as Ratan Tata, Accel, Kalaari, IIFL, Iron Pillar, IvyCap, Saama Capital and others. BlueStone is an online jewellery retailer based in India. The company sells jewellery through its e-commerce platform. It completed a Series D financing of Rs 200 crore (about $30 million). The Series D round was led by IIFL and Accel Partners. The article does not provide details on use of proceeds, revenue, user metrics, or future plans. No other operational or financial details are mentioned in the report. BlueStone.com is an online jewellery retailer run by Bangalore-based Jewels Online Distribution India Pvt Ltd. The company sells jewellery directly to consumers via its website and mobile platforms and competes with players such as Caratlane. It reports a current revenue run rate of Rs 80–100 crore per annum and is operationally profitable. BlueStone plans to use the new funding to increase marketing and expand its team to support higher demand and faster product launches. The company currently employs about 250 staff and intends to add another 150 resources across levels. Management has stated efforts are underway to improve the user experience on mobile and desktop and to launch more designs more frequently; the CEO expressed confidence in achieving over 200% growth annually for the next 2–3 years.