In today’s briefing:
- IdeaForge Pre-IPO Tearsheet
- Zee Entertainment- Litigations Scare
IdeaForge Pre-IPO Tearsheet
- IdeaForge Technology Limited (1475641D IN) is looking to raise around US$100m in its upcoming India IPO. Some of its notable pre-IPO investors include Qualcomm, Infosys, Celesta Capital (VC).
- IdeaForge develops and manufactures unmanned aerial systems (UAS) and unmanned aerial vehicles (UAV).
- The bookrunners on the deal are JM Financial and IIFL Securities.
Zee Entertainment- Litigations Scare
- Zee Entertainment Enterprises (Z IN) have yet again been bombarded with a corporate hurdle since the NCLT has admitted the company into CIRP relating to Siti Cable Network (SITINET IN).
- It is found that ZEEL has created provisions in the balance sheet, however it should be noted that the CRIP might lead to cash outflow in future.
- Apart from the current CIRP, ZEEL also has other litigation risks that should not be overlooked.
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