News Update
SEBI gives green light to Adani Wilmar, Star Health Insurance IPO
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ByKhushi Ko | October 16, 2021
The Securities and Exchange Board of India (SEBI) recently gave its approval to Adani Wilmar and Star Health Insurance for their approaching initial public offerings.
A joint venture between Adani Enterprise and Wilmar International, the maker of top-selling oil ‘Fortune’ are looking to raise Rs 4,500 crore through the process of issuing fresh equity. The company plans to use the capital raised to increase market visibility and brand awareness among existing and potential customers.
On the other hand,the largest private health insurer in the country, Star Health Insurance plans to accrue Rs 5,500 crore in its IPO. The IPO will constitute a fresh issuance of an offer for sale of over 6,01,04,677 equity shares by existing shareholders.
The company plans on using the amount raised to augment the company’s capital base, and maintain solvency levels. The offer for sale money will go to selling shareholders.
The offer for sale consists of equity shares sold by Safecrop Investments India LLP, Konark Trust, MMPL Trust, Apis Growth 6 Ltd, Mio IV Star, University of Notre Dame Du Lac, ROC Capital Pty Ltd, Venkatasamy Jagannathan, Sai Satish, and Berjis Minoo Desai, among others.
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Clean-label food brand Anveshan has raised Rs 150 crore (nearly $16 million) in a Series B funding round led by Vertex Ventures Southeast Asia & India. The round also saw participation from International Finance Corporation (IFC), Swiggy co-founder Sri Harsha Majety, and existing investors including Wipro Consumer Care Ventures, Titan Capital Winners Fund, Force Ventures, and boAt co-founders Aman Gupta and Sameer Mehta. Entrackr had exclusively reported the development last week. According to Entrackr’s estimates, the funding valued the company at over $90 million. The fresh capital will be used to strengthen manufacturing capabilities, accelerate product development, expand offline distribution, and deepen its digital presence. The company also plans to invest in sourcing infrastructure, procurement systems, quality assurance, and testing capabilities while expanding partnerships with micro entrepreneurs and traditional producers. Founded in 2020 by Kuldeep Parewa, Akhil Kansal, and Aayushi Khandelwal, Anveshan sells minimally processed food products including A2 bilona ghee, cold-pressed oils, raw honey, atta, and other traditional nutrition-focused products. The startup operates through a network of rural producers and micro entrepreneurs across the country. Anveshan claims to be operating at an annual revenue run rate of Rs 280-300 crore and is targeting Rs 1,000 crore in revenue over the next 24-30 months. The company plans to expand its atta portfolio, strengthen its owned digital channels, scale offline distribution, and continue investing in product innovation. For the fiscal year ended March 2025, Anveshan reported a 64.6% increase in operating revenue to Rs 77.08 crore from Rs 46.84 crore in FY24. Its losses widened to Rs 11.88 crore in FY25 from Rs 5.74 crore in the previous fiscal year....
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