Foxhog Ventures, a prominent venture capital firm based in the United States, actively engaged in investment and operations within India had submitted its IPO draft to the market regulator SEBI in November 2022. The purpose behind this submission is to raise a substantial Rs 630 Crore through its Initial Public Offering. After undergoing meticulous observation audits and scrutiny of the Draft Red Herring Prospectus (DRHP), the confirmation for the listing of Foxhog is expected in November 2023.
Founded by Stanford alumnus Tarun Poddar, Foxhog made its foray into the Indian market with its Private Equity offerings in March 2020. Setting a pioneering precedent, Foxhog introduced unique initiatives known as “VC FOR VILLAGES” and “VC FOR WOMEN” in the country. These initiatives have revolutionized the investment landscape in rural areas of India.
Foxhog’s “VC FOR VILLAGES” program has emerged as an exemplar in the banking industry. It addresses the plight of rural shopkeepers, farmers, and dairy owners who have long suffered from the exorbitant interest rates and burdensome EMIs imposed by microfinance companies. Foxhog is willing to invest in these businesses, sharing not only in their profits but also in their losses, marking a transformative shift in the lending sector.
Source : The Print : https://theprint.in/ani-press-releases/amidst-a-flurry-of-speculation-foxhogs-ipo-is-set-to-be-listed-in-november-2023/1796818/