Food and grocery delivery major Swiggy on Thursday filed its updated draft papers with capital markets regulator Sebi to raise funds through its much anticipated initial public offering (IPO). The proposed IPO comprises a fresh issue of equity shares worth Rs 3,750 crore and an offer-for-sale (OFS) of 18.52 crore equity shares by existing shareholders, according to the updated draft red herring prospectus (UDRHP). Market sources have pegged the company's IPO size at over Rs 10,000 crore.
Food delivery major Swiggy has received approval from its shareholders for a $1.25 billion initial public offering (IPO), according to filings made with the Registrar of Companies sourced by Tofler. The Bengaluru-based firm plans to raise as much as Rs 3,750 crore (around $450 million) via a fresh issue and up to Rs 6,664 crore (around $800 million) through an offer-for-sale (OFS) component, the filings stated.
Global technology venture capital firm Norwest Venture Partners, has announced the formation of $650 million fund.
Serena has backed early stage companies for nearly a decade.
The company has said the funds raised will be used to invest in product development and expansion of its fast-growing mobile business.
An industry source said Reliance Industries did not have a controlling stake in Yatra.com through its acquisition of Network 18. It was just a financial investment.
Plans another $1-billion fund, wants to expand core team in India.
The equity firm has signed a definitive agreement to acquire 2.11 per cent stake for a consideration of about Rs 252 crore (Rs 2.52 billion) in the National Stock Exchange of India Ltd, Norwest Venture Partners said. This would be the first FII investment under new policy subject to the regulatory approval, it said.
Indian entrepreneurs have an excellent opportunity to start companies with anywhere between $1-10 million and create one of the top 10 companies.
World's No. 1 venture capitalist Promod Haque of Norwest Venture Partners is in talks with five software product companies in India for funding.
The year 2004 is still remembered more for corporate India's global sojourn with 60-odd foreign M&A deals, than global businesses' interest in India.
The Indian startup ecosystem recently celebrated the 100th unicorn milestone. It came after a month of no big fund announcements. Compare this to 2021, when three to four unicorns were being added every month. Nevertheless, the 100th unicorn needs to be celebrated since the first unicorn was announced in 2011 - 11 years ago.
The reopening of schools and colleges has sparked a crisis in the edtech sector with falling valuations, slowing funding rounds and faltering investor sentiment. In a totally altered, post-pandemic landscape where students are back at school and colleges, companies are scrambling to revert to bricks-and-mortar tuition centres and adopting a hybrid model of offline and online education. Demand for online tuition has fallen, affecting the revenue of edtech companies in recent months. After two years of booming revenues, some experts say the sector is looking at a possible meltdown.
PE players seal over $737 mn deals in February: Thornton.
Keen to back start-ups while they are half-unicorns, SoftBank plans to invest $100 million in a firm with $500-million valuation.
Unlike many peers in the VC space, LSE grad Juneja doesn't have an entrepreneurial background but is said to be strong in finance skills
The bourse's valuations may get a boost, as it gets set for its OFS of about Rs 10,000 crore.
Venture capital investments in India's start-ups nearly halved to $1.5 billion in fourth-quarter 2015
After a recent spate of big-bang funding of food discovery and delivery apps, experts believe the sector's consolidation might be over and the remaining players are here to stay and thrive.
Experts say it's not only important to get due-diligence done by an independent firm but it needs to be cross-checked, too.
The National Stock Exchange's proposed IPO to raise Rs 10,000 crore this year is expected to see the largest ever PE exit, of around Rs 5,000 crore.
Five Star Business Finance is in the business of providing loans to MSME entrepreneurs. Gireesh Babu finds out more about the company that plans to grow to 3,000 crore by 2020.
Leading the Indian-Americans on the list is 49-year old Aneel Bhusri.
The funds, some of which have invested in the NSE for almost a decade, want the exchange to list as soon as possible so that they can exit and pay back investors in their funds
Swiggy, a Bengaluru-based food ordering and delivery start-up, says it aims to revolutionise this segment.
Vikramank Singh looks back at the year gone by!
On one hand, Limaye will have to battle legacy issues, while, on the other hand, he will have to ensure that the exchange is able to maintain its leadership position.
Ritu Jha/Rediff.com reports from California on the largest TieCon ever.
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