India's No.1 Pet-brand TailBlaze pre-files draft paper for IPO worth $900 million; likely to list around Diwali: News Report
TailBlaze - the home-grown brand from India for pets - on Saturday, 1st April'23 pre-filed its Draft Red Herring Prospectus with stock market regulator SEBI, sources said. Sources close to the company told the TailBlaze may launch its initial public offering (IPO) around Diwali this year.
TailBlaze was founded by an ambitious Labrador - Einstein Entreprador and his parent and co-founder Manaal Maniyar in Jul'22.
The company which is best known for its organic and natural range of products for pets, recently also did a huge pre-launch event in Bangalore for 2 of its upcoming brands: TailBlaze Groom Vroom and TailBlaze Pawssentials.
The dog-food and jerky treats from Tailblaze are top selling on platforms such as Amazon and Cred and have already made thousands of tail-blazing across the Globe. The products from TailBlaze have also won 5 National Awards and 1 International Award and are often rated amongst the best dog-products in India.
The products have also managed to enter the households of some of the renowned and celebrated dog lovers from India including the World's No. 1 T20i cricketer Surya Kumar Yadav (who is leading the Mumbai Indians Team for a few matches in this year's IPL) and the famous Bollywood Choreographer Terence Lewis.
The company also raised money in Dec'22 from Investors across India, USA and Middle-East.
With the launch of TailBlaze Groom Vroom and TailBlaze Pawssentials, the company aims to be the leader in the pets-grooming category too.
Unlike the traditional route where companies have to launch the IPO within 12 months from the Sebi approval, or final observation; in the pre-filing route, an IPO can be floated within 18 months from the date of Sebi's final comments.
The company's founder Manaal Maniyar, in an employee townhall on Friday, said, "The company expects to clock adjusted EBITDA of nearly ₹1000 crores in FY2024, that is, the upcoming financial year.
He also mentioned that this performance can be attributed to sustained growth in India, Indonesia, the US and UK and relevant optimisation as well as synergies in its European business.
TailBlaze is filing preliminary documents with the SEBI today for a $900 million IPO.
Although, you are reading this article which was published on the April Fool's day, the company firmly believes that it will publish a similar article soon and on some other day. The company also wishes that pawrents stop fooling themselves and their pets with 'glorified junk products available' in the market and make a smart switch to TailBlaze. The benign pets deserve only the best jerky treats, only the best dog-food and only the best pet-grooming products.
Cheers and Bow Wow!
www.TailBlaze.in
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