CX Partners to make partial exit as Veeda files papers for IPO

Written by: Planify

Published: 30 September 2021

Updated: 03 December 2024

1 min read

Veeda Clinical Research Ltd on Wednesday draft papers for a ₹831.6 crore initial public offering (IPO) that will see private equity firm CX Partners make a partial exit.

The IPO consists of a fresh issue of ₹331.60 crore and an offer for sale (OFS) of ₹500 crore by shareholders and promoters.

The OFS comprises a ₹8.08 crore sale by CX Alternative Investment Fund, ₹90.19 crore sale by Arabelle Financial Services Ltd, ₹259.77 crore sale by Bondway Investments Inc., ₹4 lakh sale by Stevey International Corporation, and a ₹141.93 crore sale by Basil Pvt. Ltd.

CX Alternative Investment Fund, Bondway, Basil, and Arabelle are all CX Partners entities. CX Alternative Investment Fund holds 2.98% stake, Arabelle 4.51% stake, Bondway 28.36% stake, Stevey 0.002% stake, and Basil 52.42% stake.

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