Reliance completes first US flotation from its portfolio, sells Pelago and sees investment in its Yatra.
Reliance Venture Asset Management, the corporate venturing unit of India-based industrial conglomerate Reliance ADA Group, has exited chipmaker Sequans Communications after the portfolio company’s flotation in New York, agreed the sale of Pelago to discount coupon company Groupon and seen new investment in its India-based portfolio company Yatra.
Sequans’ initial public offering (IPO) on New York Stock Exchange this week was the first for a company funded by an Indian venture investor.
The IPO raised a lower-than-expected $77m after pricing…
