EQT has appointed Axis Capital, JP Morgan and Morgan Stanley to handle the providing for the edtech-focused knowledge and options supplier, the folks mentioned.
“The IPO is within the works, and the corporate has already initiated discussions with potential traders,” one of many individuals mentioned.
Straive is a Singapore-based skilled providers and content material know-how firm with over 18,000 staff. Initially based in 1980 within the Philippines as Saztec Philippines Inc., it was rebranded as SPi Applied sciences in 1996 and later as Straive in 2022. In August 2021, EQT acquired a majority stake in Straive from Companions Group at a valuation of $1 billion. Companions Group had beforehand held a controlling curiosity within the firm since August 2017.
EQT, Straive, JP Morgan, Axis Capital, and Morgan Stanley didn’t reply to ET’s queries relating to the IPO plans.
Straive specialises in serving to purchasers leverage knowledge, insights, information, and AI-driven options. The corporate’s clientele spans sectors, together with monetary and data providers, insurance coverage, healthcare and life sciences, scientific analysis, edtech and logistics. It has a worldwide footprint with operations spanning the US, the UK & Europe, Singapore, India, the Philippines, Nicaragua and Vietnam. EQT has a major presence in India, with investments in corporations comparable to Virtusa, Sagility, O2 Energy, Indium Software program, Indira IVF, IGT Options, Credila Monetary Companies, Citius Tech, and AIG Hospitals. With the IPO market progressively reviving, EQT is predicted to push forward with its India listings, leveraging robust investor curiosity in technology-driven and healthcare-focused companies.
Final November, EQT launched an IPO for Sagility India. The ₹2,106 crore public situation, which was an entire offer-for-sale, was subscribed 3.2 instances.
EQT had additionally deliberate an IPO for Indira IVF, submitting a draft purple herring prospectus (DRHP) confidentially with market regulator Sebi in February for a ₹3,500 crore public situation. Nonetheless, the corporate withdrew the IPO papers final month and is now planning to refile them.
