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MC Insider: End to IPO snooze, bankers never retire, more mutual fund exits, fintech sale, payment delay and more

Last Updated: August 10, 2022 / 08:34 AM IST

IPO SLUMBER


Electronics manufacturing firm Syrma SGS Technology has woken up IPO aspirants and will be the first to tap the primary markets in the last 2 and a half months as it launches its Rs 840 cr share sale later this week. Next, we pick up a south-based tech-enabled healthcare firm has taken bankers on board and is eyeing a plus $200 million listing.

BANKER 2.0

BANKER 2.0

Second innings are always interesting, especially when you are a veteran banker who handled an influential post for several years and bid adieu recently to his sarkari employer. We hear the gentleman has tapped a few folks from his earlier firm and turned entrepreneurial. Now for starters, he is advising global funds that are evaluating assets in the infrastructure segment.

MEDIA CHURN

MEDIA CHURN

Word in media circles is that many employees are busy refreshing theirs CVs in anticipation of the entry of a new player with deep pockets. So will there be a fresh round of musical chairs as this new entrant sniffs around an established player ? We shall keep you posted!

DEAL SHIVERS

DEAL SHIVERS

There is buzz that a C suite executive from a player in the healthcare segment which has been the focus of deal whispers for a few months now is on the way out. We wonder if the chatter about the exit has anything to do with the proposed deal. Several suitors, from the emerging businesses segment as well as big corporates groups, have apparently expressed in the firm but we hear the ask may be too much for now. So will it be a case of who blinks first?

CIO EXITS GALORE

CIO EXITS GALORE

More exit buzz. Looks like the season for Chief Investment Officers saying Sayonara to the funds and fund houses they helped build over the years. That’s what happened recently when the top man at HDFC Mutual Fund and an industry veteran, Prashant Jain decided to part ways with the fund he had been associated with for the past so many years. Now, the news is that one more fund house will soon bid adieu to its CIO. The fund house has its origins in the ‘Land of rising sun’ and the CIO, after his exit, has plans to use his vast industry experience to soon start his own advisory services venture.

FINTECH PROMOTER IN SALE MODE

FINTECH PROMOTER IN SALE MODE

Rumour has it that the promoter of a leading south based fintech firm, which has expertise in providing Financial Technology solutions for Banking, Insurance and other Financial Services, is said to have found a suitor for his own stake in the company. The magnitude of the deal is not yet certain but there is a strong possibility that the deal will be signed soon and can involve part sale to the strategic investor initially with the ultimate aim of offloading the complete stake in future. It may be noted the said promoter had sold his earlier venture to the Indian arm of a US IT services company. Any guesses folks?!

DEAL DRUMBEAT

DEAL DRUMBEAT

One of the world's largest and most aggressive tech investors is aggressively meeting early-stage investors in the country over the last three weeks as it is eyeing more deals in the early-stage space. The investment company that typically invests at later stages, had publicly said that it will prioritise early-stage investments this year amid a slump in global financial markets. The investment company has already met partners of two of India's largest venture capital firms and the street is full of murmurs that it will now soon invest in their portfolio companies.

SHOW ME THE MONEY

SHOW ME THE MONEY

Clients asking and demanding extensions on payments are not new for the advertising industry. But when seemingly well-funded clients don't pay up after significant time has passed, it's more than worrisome and indicative of deeper trouble perhaps. Our ad moles tell us a tech product company that has been caught in a spot of trouble and has seen major management changes in recent months, has not paid one of its agencies. There's a huge amount due to the ad company the brand has been working with. Time to call and collect.

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