Core Viewpoint - ICICI Prudential Asset Management Co. is nearing approval from India's securities regulator for a significant initial public offering (IPO), which could be one of the largest in the country this year [1][2]. Group 1: IPO Details - The Securities and Exchange Board of India (SEBI) is expected to grant approval in the coming days, with the company initiating discussions with potential investors and aiming for a launch next month [2]. - If successful, the IPO could elevate India's market above last year's record of nearly $21 billion, with the deal potentially raising up to 100 billion rupees ($1.1 billion) and valuing the firm at approximately $11 billion [3]. - ICICI Securities Ltd. and Citigroup are leading the IPO, supported by a record number of 16 additional banks in the syndicate [4]. Group 2: Company Background - The company submitted its draft red herring prospectus on July 8, proposing the sale of up to 17.65 million shares, representing a 10% stake [5]. - ICICI Bank Ltd. holds a 51% stake in the joint venture, while the remaining shares are owned by UK-based Prudential [5].

Core Insights - Phantom, a Solana-based crypto wallet, has decided against going public, launching a token, or building its own blockchain, focusing instead on product development and investment in Solana [3][4][5] - The company has over 7 million monthly active users and has attracted significant private funding from major investors like Paradigm, a16z, and Sequoia Capital [1][3] - The decision to remain private reflects a broader trend among crypto startups prioritizing sustainable revenue and product focus over the pressures of public market volatility and quarterly earnings [8][9][10] Company Strategy - Phantom's CEO, Brandon Millman, emphasized that the company will stay private "for as long as it makes sense," indicating a strategic choice to avoid the burdens of public market compliance [3][4] - The company has assessed the costs and benefits of public listing, concluding that it can meet its funding needs through private capital [4][9] - Millman also dismissed the idea of launching a token, citing the responsibilities and market risks associated with token issuance [5][6] Market Context - The crypto market has seen a shift with companies like Circle and Kraken going public, while Phantom opts to remain private, highlighting a divergence in strategies within the industry [2][3] - Analysts note that Phantom's revenue is closely tied to Solana's performance, with a 97% correlation to Solana's total app revenue, indicating both a strength and a risk in its business model [7] - The current market environment rewards predictable cash flows, making the decision to stay private more appealing for companies focused on long-term sustainability [9][10] Industry Trends - The trend of crypto companies staying private reflects a maturation of the industry, moving away from hype-driven growth towards sustainable business practices [8][10] - Regulatory uncertainty in the U.S. adds to the complexity of going public, with companies preferring to avoid rigid compliance frameworks that could stifle innovation [9] - The dual-path model of integrating an IPO with a token remains largely untested, indicating that many firms are still exploring new business structures [6]

US-based cryptocurrency and digital assets exchange Kraken has confidentially submitted a draft registration statement on Form S-1 with the US Securities and Exchange Commission (SEC), marking an official request to offer common stock in an initial public offering. The number of shares on offer and the price of the initial stock offering has yet to be determined. According to a Nov. 19 blog post on the Kraken website, the IPO is expected to occur after the SEC completes its review process. Fundraising an ...

Kraken is planning to go public. One of the world’s biggest crypto exchanges has confidentially filed with the US Securities and Exchange Commission for an initial public offering of its common stock, according to the company. Kraken didn’t set a time for when the IPO will happen, but only said it expected it “to occur after the SEC completes its review process, subject to market and other conditions.” Previous reports have predicted that Kraken would go public in the first quarter of 2026. Co-CEO Arju ...

Core Viewpoint - Crypto exchange Kraken has submitted a confidential draft registration statement to the US SEC for a planned IPO, marking a significant step in its growth and the intersection of crypto and traditional finance [1][2][3]. Group 1: IPO Details - Kraken has filed a draft registration statement on Form S-1 with the US SEC for its proposed IPO, although the number of shares and pricing are yet to be determined [2]. - The IPO is expected to proceed once the SEC completes its review, subject to market conditions [2]. Group 2: Market Context - This development follows Circle's public listing and aligns with Ark Invest's prediction regarding favorable conditions for crypto firms under the Trump administration [3][4]. - Ark Invest had previously indicated that pro-crypto policies and SEC reforms could ease regulatory constraints, potentially reopening the IPO window for late-stage digital asset companies like Kraken [4]. Group 3: Financial Aspirations - Kraken aims to raise $500 million at a $15 billion valuation in its planned IPO, with the company having raised $800 million recently [5]. - The move establishes a precedent for crypto firms transitioning to publicly traded companies in the US [5]. Group 4: Competitive Landscape - Once Kraken goes public, its stock, potentially named 'KRAK', would join Coinbase's COIN in the open market [6].

By Arasu Kannagi Basil and Pritam Biswas (Reuters) -Kraken, one of the world's largest cryptocurrency exchanges, said on Wednesday it has confidentially filed for an ​initial public offering in the U.S., as digital asset companies look to tap ‌the new listings market before the 2026 midterm elections. Companies such as stablecoin issuer Circle and crypto exchanges Gemini and Bullish have made ‌strong debuts in the U.S. this year. Kraken's potential listing will fuel competition in a sector where sentime ...

Company Overview - Sudeep Pharma is a technology-driven manufacturer of excipients and specialty ingredients used in the pharmaceutical, food, and nutrition sectors, leveraging in-house technologies to enhance manufacturing efficiency [7][8] - The company has established a global presence in over 100 countries, with significant market penetration in the US, South America, Europe, the Middle East, Africa, and Asia-Pacific [8] - Sudeep Pharma is one of the largest producers of food-grade iron phosphate, with an annual manufacturing capacity of 72,246 metric tonnes as of June 30, 2025 [8] IPO Details - Sudeep Pharma has set a price band of Rs 563–593 per equity share for its initial public offering (IPO), which aims to raise Rs 895 crore, opening for subscription on November 21 and closing on November 25 [2][10] - The IPO consists of a fresh issue of Rs 95 crore and an offer for sale (OFS) of 1,34,90,726 shares by promoters, amounting to Rs 800 crore at the upper price band [10] - The allocation for the IPO includes a maximum of 50% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail individual investors [5][10] Use of Proceeds - The company plans to allocate Rs 75.8 crore from the fresh issue for capital expenditure to procure machinery for its production line at the Nandesari Facility 1 in Gujarat, with the remaining funds directed towards general corporate purposes [6][10] Market Sentiment - Sudeep Pharma's shares are currently commanding a 16% grey market premium (GMP), indicating a likely listing price of around Rs 688, which suggests an estimated gain of about Rs 95 per share over the upper issue price of Rs 593 [10] - Recent IPOs have positively influenced investor sentiment, with notable listing gains observed in other companies, contributing to a favorable outlook for Sudeep Pharma's upcoming IPO [10]

Core Viewpoint - Proposals to sell a portion of U.S. mortgage agencies Fannie Mae and Freddie Mac through an initial public offering (IPO) are not seen as viable by Bill Ackman, founder of Pershing Square Capital Management [1] Group 1: Company Insights - Bill Ackman expresses skepticism regarding the feasibility of an IPO for Fannie Mae and Freddie Mac, indicating potential challenges in the execution of such a sale [1]

Billionaire investor Bill Ackman said Tuesday that mortgage titans Fannie Mae (OTCQB:FNMA) and Freddie Mac (OTCQB:FMCC) are still a long way from being ready for an initial public offering. The Trump administration has been considering an IPO of Fannie ( ...

Core Viewpoint - Sudeep Pharma has set a price band of Rs 563–593 for its initial public offering (IPO) of Rs 895 crore, which will open for subscription on November 21 and close on November 25, with an anchor book opening on November 20 [1][7]. Group 1: IPO Details - The IPO consists of a fresh issue of Rs 95 crore and an offer for sale (OFS) of 1,34,90,726 shares by promoter and promoter group shareholders, amounting to Rs 800 crore at the upper end of the price band [1][2]. - At the lower price band of Rs 563, the total offer size is Rs 854.5 crore, while at the upper band, it reaches Rs 895 crore [2][7]. - Investors can bid for a minimum of 25 equity shares, and in multiples of 25 thereafter [2][7]. Group 2: Use of Proceeds - The company plans to allocate Rs 75.8 crore from the fresh issue towards capital expenditure for procuring machinery for its production line at the Nandesari Facility 1 in Gujarat, with the remaining funds directed towards general corporate purposes [2][7]. Group 3: Company Overview - Sudeep Pharma is a technology-driven manufacturer of excipients and specialty ingredients utilized in the pharmaceutical, food, and nutrition sectors, leveraging in-house technologies to enhance innovation and manufacturing efficiency [3][7]. - The company has established a global presence in over 100 countries, with significant market penetration in the US, South America, Europe, the Middle East, Africa, and Asia-Pacific [5][7]. - Sudeep Pharma is one of the largest producers of food-grade iron phosphate, with an annual manufacturing capacity of 72,246 metric tonnes as of June 30, 2025 [5][7]. Group 4: Client Relationships - Over the years, Sudeep Pharma has built relationships with more than 1,100 customers worldwide, including notable clients such as Pfizer Inc, Mankind Pharma, and Merck Group [6][7]. - The IPO will be offered through a book-building route, with allocations of not more than 50% for qualified institutional buyers (QIBs), 15% for non-institutional investors (NIIs), and 35% for retail individual investors [6][8].