Foxhog IPO: Venture capital firm founded by car cleaner plans Rs 350 crore listing

Venture capital and investment firm Foxhog is preparing to file a Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India through the confidential filing route, founder Tarun Poddar has said. The company, which became a public company in May 2025, has indicated an IPO fundraising target of around Rs 350 crore, subject to regulatory approvals.

Foxhog was founded by Poddar, whose entrepreneurial journey began with working as a car cleaner before moving into corporate and financial sectors. The firm focuses on backing startups and small businesses outside India's traditional metropolitan ecosystem, particularly in Tier-2 and Tier-3 cities and rural areas, through initiatives such as "VC for Villages" and its financing platform Finko. The company says it has backed more than 179 portfolio companies across fintech, healthcare, aerospace and other sectors. Poddar has stated the Indian division turned profitable in FY2025-26 with a gross profit margin of 29.36%.