Sebi has lifted the ban on Axis Capital but has restricted its operations in the debt market. The latest order prohibits Axis Capital from engaging in specific transactions, including providing credit risk cover or guarantees related to pledged shares, until further notice.
Pine Labs has selected five investment banks, including Axis Capital, Morgan Stanley, Citigroup, JP Morgan, and Jefferies, to advise on its upcoming $1 billion IPO, expected in the first half of FY26. Axis Capital is the sole domestic banker, reflecting the company's strong ties with Axis Bank. IPO preparations are currently underway, although Pine Labs has not responded to inquiries regarding the matter.
OfBusiness, a SoftBank-backed Indian shopping platform, has appointed five investment banks, including Axis Capital and JPMorgan, for its upcoming IPO targeting up to $1 billion in 2025. The company reported a $72.6 million after-tax profit on $2.3 billion in revenue for the fiscal year ending in March. With a valuation of around $5 billion in 2021, OfBusiness provides raw materials and exports food and apparel to major clients like Lulu and Costco.
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