Businessesin Focus: CleanMax, The Sleep Company, Rainmatter Making Headlines
A series of exciting developments are taking place in the Indian business landscape, with several companies announcing significant moves.
Firstly, CleanMax Enviro Energy Solutions, a renewable energy firm backed by Brookfield, Augment, and the Danish Investment Fund, is planning an initial public offering (IPO) worth between INR 4,000 crore and INR 5,000 crore (around $457 million to $572 million) by the end of 2025[1]. The IPO, which will include both primary capital infusion to fund growth and secondary share sales from existing shareholders, is expected to value the company at INR 18,000-20,000 crore (around USD 2.5-3 billion) at the time of listing[1].
However, the exact method for filing the IPO and the source of funding for CleanMax Enviro Energy Solutions' IPO remain undisclosed in the report. Furthermore, the precise timing for the IPO filing has not been disclosed either.
Meanwhile, The Sleep Company, a PremjiInvest-backed firm, is also seeking fresh funding, according to a separate media report. No specific details about the nature or purpose of the funding were provided in the report.
In other news, A91-backed Akshayakalpa Farms is expecting a sales boost, but the details of this development are not available at this time.
Lastly, RuleZero, a VC-backed company, has launched a fund to buy ESOPs from startup executives. The specifics of this fund, including the amount of funding, were not detailed in the report.
[1] Source: The Economic Times, 10th March 2023.
1) The planned initial public offering (IPO) of CleanMax Enviro Energy Solutions involves both primary capital infusion and secondary share sales, indicating a potential shift in finance for the company.
2) RuleZero, a venture-capital-backed company, has launched a fund to purchase ESOPs from startup executives, signifying a possible move in the finance sector to support startup growth.
