5 IPOs to hit market in first half of Nov📊
Purplle valuation jumps 4x, Microsoft overtakes Apple, Funding Deals & more.
Hi 👋🏻,
Start your day, the smart way!
Top tech news of the day delivered straight to your inbox.
1 Mail | 2 Minutes | 3 Stories | Funding Deals
Every day, keep an eye on the Promotions tab for new mail.
Five IPOs to hit the market in first half of Nov; seek to raise over Rs 27,000 cr📊
After a month long gap, the primary market is heading for a busy time, with five firms including Paytm parent One97 Communications and policybazaar parent PB Fintech have lined up their IPOs in the first half of November to raise over Rs 27,000 crore collectively.
The other three firms whose initial share sales are set to open are Sapphire Foods India, which operates KFC and Pizza Hut outlets, decorative aesthetics supplier SJS Enterprises and microcrystalline cellulose manufacturer Sigachi Industries.
The IPOs of FSN E-Commerce Ventures Ltd, which runs an online marketplace for beauty and wellness products Nykaa, and Fino Payments Bank are currently open for public subscription.
The three-day initial share-sales of Nykaa and Fino Payments Bank will conclude on November 1 and November 2, respectively.
Together, these seven companies will raise nearly Rs 33,500 crore through initial share sales. Of these, a major chunk will be garnered by technology-based companies.
Purplle valuation jumps 4x in Kedaara-led funding round💅🏻
Online beauty products platform Purplle has raised $75 million in a new funding round led by private equity firm Kedaara Capital.
Existing investors Sequoia Capital India and Blume Ventures have also participated in the round. The latest funding comes six months after it raised $45 million from Sequoia Capital and others.
The Mumbai-based company’s valuation has jumped more than four-fold to $630 million following the new round, cofounder and CEO Manish Taneja said.
The financing round comes at a time when bigger rival Nykaa is going public at a valuation of $7.1 billion amid growing interest in the beauty and consumer care products segment.
Hot Shorts⚡
Vastu Housing Finance Corporation Ltd has raised $200 million (around ₹1,460 crore) in a financing round from a consortium led by Norwest Venture Partners, Creation Investments, and IIFL Asset Management.
Quick commerce grocery delivery app Zepto has raised $60 million led by US investment fund Glade Brook Capital, at a post-money valuation of $225 million.
Online marketplace for clean beauty products, Vanity Wagon, has raised ₹5.5 crore in pre-series A round led by Inflection Point Ventures.
Microsoft overtakes Apple to become the world’s most valuable company🔝
The slump in Apple Inc.’s shares on Friday propelled Microsoft Corp. to the position of the world’s largest listed company by market capitalization.
Apple fell 1.8% after reporting fourth-quarter revenue that came in below the average analyst estimate, which gave the iPhone maker a market value of $2.46 trillion. Microsoft rose 2.2% to hit a market value of $2.49 trillion, blowing past Apple after reporting estimate-topping results for an 11th straight quarter earlier this week.
Apple's shares dropped 1.8% to end the session at $149.80, giving the company a market capitalization of $2.48 trillion. By contrast, shares of Windows software maker Microsoft rose 2.2% to a record high of $331.62, ending the session with a market capitalization of $2.49 trillion.
Read more: Microsoft overtakes Apple
Tweet of the day🐥
📊 Mobikwik, Oyo Rooms and Delhivery to soon join the IPO startup party
💄 Nykaa offering oversubscribed 4.8 times on Day 2
“To be successful, you have to have your heart in your business, and your business in your heart.”
- Thomas Watson
Thanks for reading😊
We'll be back with more interesting stories and updates tomorrow.
Check our Website, Twitter, Instagram.
Hit 💜, if you enjoyed the article.