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Equisculpt NOVEM FUND
Group Advisory Track Record

A record you can verify — losses included

The figures on this page are the advisory record of the Equisculpt Ventures group, a related entity — not the track record of Equisculpt Novem Fund, which is recently constituted and has no operating history of its own. The anchor book is verifiable position by position against public NSE Emerge and BSE SME filings.

Anchor & QIB IPO — Realised

Thirteen anchor positions, exchange-verifiable

March 2024 to February 2025 · NSE Emerge / BSE SME · over ₹30 crore deployed. Entry is the anchor allotment price; exit is the realised market exit within the stated window. Returns are gross of fees and taxes.

13
Anchor Positions
12 profitable · 92% win rate
+112%
Average Absolute Return
Median +93%
132d
Average Hold
Defined exits, high capital velocity
−14%
Worst Position
Best +362% — shown below, unedited
#CompanyExchangeListed Entry ₹Exit ₹ HoldReturn
01Pratham EPC ProjectsNSE SMEMar 202475.00346.50143d+362%
02Blue PebbleNSE SMEApr 2024168.00238.50120d+42%
03Rulka ElectricalsNSE SMEMay 2024235.00468.00128d+99%
04Ztech IndiaNSE SMEJun 2024110.00435.60121d+296%
05VL Infra ProjectsNSE SMEJul 202442.0081.00115d+93%
06Indian PhosphateNSE SMESep 202499.0085.50135d−14%
07Namo eWaste ManagementNSE SMESep 202485.00207.00140d+144%
08Lakshya PowertechNSE SMEOct 2024180.00198.00147d+10%
09United Heat TransferNSE SMEOct 202459.0094.50124d+60%
10Nisus Finance ServicesBSE SMEDec 2024180.00378.00130d+110%
11Parmeshwar MetalBSE SMEJan 202561.00112.50138d+84%
12Sat Kartar ShoppingNSE SMEJan 202581.00168.50148d+108%
13Voler CarNSE SMEFeb 202590.00153.00127d+70%
13 positions · 12 profitable (92%)132d avg+112% avg
Methodology & verification. Entry is the anchor/IPO allotment price; exit is the realised market exit within the stated window. All listings, issue and price data are independently verifiable against public NSE Emerge (nseindia.com/emerge) and BSE SME (bseindia.com) filings. Returns are gross of fees and taxes. The full deal sheet is available to qualified investors under NDA.
45%+
Group Blended XIRR†

† Money-weighted IRR of the broader Equisculpt Ventures portfolio across all strategies — a different measure and scope from the per-position absolute returns above, computed on actual group cash flows. Manager-computed and not independently verified. It is not the track record of Equisculpt Novem Fund, which is pre-launch.

Private & Pre-IPO — Group Advisory

Beyond the anchor book

Two realised exits and eleven open positions. Read the caveats first: unlike the anchor book, pre-IPO and private positions are not verifiable against public filings, and open positions are indicative marks — not returns.

Realised exits — capital returned

CompanyTypeEntryEntry ₹Exit ₹HoldRealised
Indian EmulsifierPre-IPO placementOct 202384.00190.00~18 mo+126%
Tembo GlobalPreferential allotment2023283.00700.00~12 mo+147%
2 of 2 profitable · capital returned · manager records+137% avg

Current holdings — open, unrealised*

CompanyTypeEntryEntry ₹Indicative ₹StatusUnrealised*
KRN Heat ExchangerPre-IPO placementSep 2023152.00~1,080Listed+610%*
TechD CybersecurityPre-IPO placementApr 2025150.00~575Listed+283%*
RNIT AI SolutionsSpecial situation · reverse mergerSep 202420.00~62Listed+210%*
Speciality MedicinePre-IPO placementJun 202494.00~200Listed+113%*
United Heat TransferPre-IPO trancheJun 202450.00~105Listed+110%*
Sky AirwaysPre-IPO placementFeb 202596.00~150Unlisted · grey market+58%*
Safety Controls & DevicesPre-IPO placementOct 202456.00~80Listed · in lock-in+43%*
Accord TransformerPre-IPO placementMay 202546.00~69Listed Mar 2026+28%*
Advit JewelsPre-IPO placement———Newly listed Jun 2026nascent
Spray EngineeringPre-IPO placement———Unlisted · IPO withdrawn−47%*
Raviraj Process ControlPre-IPO placement———Illiquid · non-exitableimpaired
Reading the marks. Realised exits reflect capital actually returned. Current holdings are open, unrealised positions at indicative value — recent market price for listed names (early June 2026), manager estimate for unlisted names. These marks are not independently verified, are illiquid, may not be realisable at the levels shown, and are not returns. This reflects the Equisculpt Ventures group’s advisory activity — not the track record of Equisculpt Novem Fund. Past performance is not indicative of future results. Supporting documentation is available to qualified investors under NDA.
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