Posts that explain reports that we release periodically around unlisted markets. All reports are downloadable freely from privatecircle.co.
India’s commercial & industrial renewable energy space is quietly minting scale, and CleanMax Enviro Energy Solutions sits right at the centre of that shift. Built around long-term power purchase agreements (PPAs) for corporates, CleanMax has grown into one of India’s largest rooftop solar and open-access renewable platforms, serving data centres, manufacturing plants, IT parks, and…
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Industry Overview India’s $80 billion jewellery market is one of the country’s most culturally significant and economically resilient consumer sectors. Deeply rooted in tradition, gold and precious jewelry are not only symbols of wealth and status but also integral to weddings, festivals, and the preservation of generational wealth. Over the past decade, the market has…
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Some companies grow loudly. Others grow every single day for 75 years and quietly become part of every Indian household.Parle Products Private Limited is one such company. It is one of India’s oldest and most recognized biscuit and confectionery manufacturers, with a legacy that dates back more than 75 years. Incorporated on 09 December 1950….
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India’s journey to finding a life partner has not disappeared. Instead, it has moved to the phone screen. Earlier, families relied on relatives, community networks, and newspaper classifieds. Today, however, discovery begins with a swipe, a profile, or a compatibility score. And yet, although the medium has changed, the intent has largely remained the same….
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A comprehensive analysis of 39 startups founded by former Razorpay employees How Razorpay Became a Founder Factory Razorpay has emerged as more than just a fintech unicorn, it has become a breeding ground for operator-led founders. Over the past few years, early employees and operators have spun out to create their own ventures, collectively forming…
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🌐 Indian Luggage & Travel Accessories Industry The Indian luggage market, with brands like Mokobara and Nasher Miles, is shifting from legacy, price-driven products to design-led lifestyle and value-focused mass-market travel solutions. Key growth drivers include: Market Data & Trends: 🏢 Company Origins & Brand Positioning Mokobara Nasher Miles 📊 Distribution & Go-To-Market Metric Mokobara…
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Company Overview Founded in 2000, Fractal Analytics is a global AI, data science, and decision intelligence company enabling Fortune 500 enterprises to operationalize analytics at scale. With deep capabilities across machine learning, cloud-native engineering, MLOps, and advanced statistics, Fractal sits at the intersection of strategy, data, and execution. The company serves marquee clients across the…
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Introduction: A Rare IPO Wealth-Creation Story When an IPO hits the market, headlines usually focus on valuation, listing gains, and subscription numbers. However, the real story often lies deeper, in how early investors entered, scaled, partially exited, and still retained meaningful upside. The Aye Finance IPO OFS is one such case. Investors in Aye Finance…
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Sometimes, startup ecosystems don’t expand loudly. Instead, they expand quietly, through people. People who work at one high-intensity company learn how scale really works, understand hiring, product velocity, execution pressure, and then, over time, step out to build companies of their own. That is exactly what has happened with Unacademy. And when we map the…
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Introduction The International Finance Corporation (IFC), the private-sector arm of the World Bank Group, has played a quiet yet influential role in India’s capital market journey. Unlike traditional venture or private equity investors chasing hyper-growth, IFC’s mandate strikes a balance between development impact and sustainable financial returns. As several IFC-backed companies transitioned from private ownership…
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