Posts that explain reports that we release periodically around unlisted markets. All reports are downloadable freely from privatecircle.co.
Introduction This report analyses Peak XV Partners’ (formerly Sequoia India & SEA) investments in Indian unlisted companies that went on to list between 2020 and 2025. It tracks each portfolio company’s journey from first institutional investment to IPO, focusing on capital deployed, exits achieved, and return multiples measured up to the IPO date. About the…
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Introduction Corporate borrowing in India touched historic highs in 2025 as unlisted companies tapped large-scale debt to fund infrastructure expansion, real estate development, energy transition, and group-level restructuring. Using MCA charge filings and sector classification data, this report highlights the Top 10 unlisted Indian companies with the highest loan borrowings in 2025, offering a clear…
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5-Year Interim Order Activity Trend (2021–2025) India’s insolvency and corporate dispute ecosystem runs heavily through the National Company Law Tribunal (NCLT). For founders, lenders, investors, and legal teams, NCLT timelines are not just a compliance concern they directly impact recoveries, deal closures, resolution outcomes, and capital recycling. Over the years, the biggest criticism of NCLT…
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Corporate borrowing remained a defining theme of India Inc’s financial landscape in 2025. As companies across sectors tapped debt markets to fund expansion, refinance balance sheets, and manage working capital, loan charge filings revealed clear sectoral patterns and cyclical shifts through the year. This report presents a month-wise, industry-wise view of loan charges availed by…
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Corporate boards in India have expanded steadily over the last seven years but the nature of this expansion tells a more nuanced story. While the total number of director appointments has grown sharply, the composition of these appointments has shifted significantly, pointing to changing governance structures, compliance priorities, and leadership models. This blog breaks down…
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About the IPO Shadowfax Technologies, one of India’s largest hyperlocal and last-mile logistics platforms, is stepping into the public markets with a much-anticipated IPO. The offering combines a fresh issue to fund future growth and a significant Offer for Sale (OFS) by early and late-stage investors. For the Indian logistics-tech ecosystem, this IPO marks a…
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Amagi’s initial public offering (IPO) marks one of the most closely watched exits in India’s new-age technology landscape. More than just a listing event, the IPO represents a full-circle moment for early believers, institutional investors, and founders who backed a company long before connected TV (CTV) advertising became a global growth story. This blog takes…
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Introduction Corporate borrowing trends often act as a real-time barometer of economic confidence. In 2025, India Inc’s loan activity, captured through MCA charge filings, reveals a year marked by sharp spikes, cautious mid-year behaviour, and a pronounced year-end slowdown.This month-wise analysis highlights how companies raised debt across the year and what it signals for credit…
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India’s boardrooms witnessed significant movement in 2025 but not all change was equal. While hundreds of thousands of director appointments were recorded across companies, actual exits remained comparatively limited, pointing to a system that is expanding faster than it is refreshing. This imbalance raises deeper questions around board experience, continuity of control, and how decision-making…
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When we think of women’s health in India, fertility often dominates the conversation, and for a long time, that’s been understandable. But the emerging wave of FemTech 2.0 is radically expanding the narrative. Today’s women-led (or women-focused) startups aren’t just solving reproductive issues; they’re addressing the full spectrum of women’s wellness, from sustainable period care…
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