Cabinet approves listing of IREDA through IPO route
The aim is to raise funds through issue of fresh equity shares by the IREDA, official sources said. Department of Investment and Public Asset Management (DIPAM) will drive the listing process, the sources added. This decision supersedes the earlier Cabinet Committee on Economic Affairs (CCEA) decision taken in June 2017 which had allowed the IREDA to issue 13.90 crore fresh equity.
2023 holds little promise for tech IPOs as slowdown continues
Although some IPOs appear to be in the offing this month, the mood among the companies, investors and the public is yet to be lifted after a dismal December. Forty Indian corporates raised Rs 59,412 crore through IPOs in calendar year (CY) 2022, half of the Rs 1,18,723 crore (all-time high) mobilised by 63 IPOs in 2021, according to Prime Database, India's premier database on the primary capital market.
New-age Indian internet firms continue to bleed as startup IPO dream over
In the last 16 months or so, five of such startup/unicorn's initial public offerings - Paytm, Zomato, Nykaa, Delhivery and Policybazaar - have gone through a bloodbath, shedding more than $18 billion in value. VC firm Lighthouse India Fund III has sold 3 crore Nykaa shares worth Rs 525.39 crore in a bulk deal, as the lock-in period expired for the pre-IPO investors.
Global Health Ltd's IPO to open up on Thursday, price band Rs 319-336 per equity share
The price band of the offer has been fixed at Rs 319 to 336 per equity share of face value Rs 2 each. The bids can be made for a minimum of 44 equity shares and in multiples of 44 equity shares thereafter, Medanta Chairman Dr Naresh Trehan said at a media briefing on Tuesday.
Udaan raises $120 million in funding winter, plans IPO in 12-18 months
"The journey of right business design and unit economics has translated into over 60 per cent reduction in burn. Continued focus on customer-first thinking and initiatives on strengthening our value proposition for them have resulted in monthly buyer repeat rates increasing by more than 500 bps in the last 2 quarters," he added.
IPO fundraising in India drops by 32 per cent
The amount raised is 32 per cent lower than the Rs 51,979 crore raised through 25 IPOs in the corresponding period of 2021-22. Rs 20,557 crore or 58 per cent of the amount was raised just in the IPO of LIC, according to Pranav Haldea, Managing Director, PRIME Database Group. Overall public equity fundraising also dropped by 55 per cent to Rs 41,919 crore from Rs 92,191 crore in the corresponding period of the previous year.
'No compliance issues' as BYJU's files FY21 tax returns, Deloitte audit report soon
The audited financial statement for FY21 from Deloitte may also be made public "within a week" as the consolidation of businesses is complete after "ironing out the complexities" as the edtech unicorn made at least 10 acquisitions for a cumulative transaction value of about $2.5 billion last year, according to the people close to the matter. According to them, there are "no compliance issues" as the company has filed its tax returns in the "due diligent manner" and the Deloitte audit report will be made available soon.
Sequoia India and Southeast Asia raise $2.85 billion to empower founders
"This fundraise, which comes at a time when markets are starting to cool after a very long bull run, signals our deep commitment to the region and the faith our Limited Partners have in the long-term growth story of India and Southeast Asia," the company said in a statement on Tuesday. The region's startup ecosystem has grown rapidly in the last decade, thanks to the acceleration of digital adoption and rising consumer incomes.