Another company is preparing to enter the initial public offering (IPO) market. The name of this company is Gaza Capital.
If the IPO of this company gets approval from SEBI, then this will be the first time when domestic private equity will enter the stock market.
Let us tell you that it was the first private equity investor in RBL Bank.
In a report, the source said that Gaza Capital has appointed IIFL Capital to advise on a potential IPO.
The source says that the company is working on a plan to file a draft red herring prospectus in early December.
Established In 2004
Gaza Capital was established in April 2004 by IIT Delhi alumnus Gopal Jain.
Sources say that since its inception, Gaza Capital has raised more than $ 500 million through four funds and invested it in 24 investments.
Investment giants like KKR, Blackstone, Apollo Global Management, and Carlyle Group are listed globally.
Company’s Major Investments
Gaza Capital’s winning investment opportunities include CL Educate (formerly Career Launcher), TeamLease, RBL Bank, and John Distilleries.
It got a 10x return on an investment of Rs 75 crore made in TeamLease in 2010. It purchased and sold RBL Bank’s stakes thrice in 2010 between 2010 and 2020.
It also bought and sold stakes within John Distilleries during the last decade to earn a quadruple increase in the investment.
It has sold its stake in Sazerac, which is the fourth-largest alcohol beverage manufacturer across Sazerac, the fourth-largest alcoholic beverage company in the US.
Recent investments include an investment of Rs 800 crore in home finance company Weavers and Rs 175 crore in startup Ember.
It had invested about Rs 800 crore in e-commerce logistics company Xpressbees together With Norwest Venture Partners and Investcorp four years back.
Quick Fact
| Company name | Gaza Capital |
|---|---|
| Founded in | 2004 |
| Founder | Gopal Jain |
| Founder’s education | IIT Delhi alumnus |
| Raised funds | More than $500 million |
| Funds raised through | 4 funds |
| Investments made | 24 investments |
| Major investments | CL Educate, TeamLease, RBL Bank, John Distilleries |
| Return on TeamLease investment | 10x |
| Investment in TeamLease | ₹75 crore in 2010 |
| Return on John Distilleries | 4x |
| Stake in John Distilleries sold to | Sazerac |
| Recent investments | ₹800 crore in Weavers, ₹175 crore in Ember |
| Draft filing is planned for early December | ₹800 crore in Xpressbees |
| Xpressbees co-investors | Norwest Venture Partners, Investcorp |
| IPO plan | Draft filing planned for early December |
| IPO advisor | IIFL Capital |
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