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The firm is reaching out to bankers and advisers to understand the interest in offerings, though formal mandates have not yet been awarded.
GIP is considering IPOs for Pristine Logistics and Ascend Telecom, but has not appointed bankers yet.
KEY POINTS
- Pristine's prior 2022 IPO attempt was abandoned; takeover interest resurfaced in 2024 from A.P. Moller Capital.
- Ascend became India’s fourth-largest tower company after buying Tower Vision India for $400 million in 2023.
- Pristine's FY25 revenue fell 3%, but profit increased 11%; Ascend’s profit rose 20-fold due to tax credit.
- Over 10 Indian IPO candidates are now pursuing dual-track IPO and private sale strategies amid market volatility.
COMPANIES
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