FirstCry lists at 35% premium👶🏻
FirstCry lists at 35% premium👶🏻
Unicommerce's multibagger debut, Tendulkar's new sports brand, Nykaa Q1 profit soars 152%, Funding Deals and more.
Good morning and welcome to Wednesday’s edition of Rise & Shine!
"Nothing influences people more than a recommendation from a trusted friend."
— Mark Zuckerberg
Today, the quote highlights the profound impact of personal recommendations, reminding us of the power of trust and authenticity in our interactions.
In a world flooded with information and choices, a trusted recommendation can cut through the noise and carry significant weight.
Tech Updates
FirstCry shares list at 35% premium over IPO price
Brainbees Solutions, which operates kidswear brand FirstCry, made a stellar debut on the stock exchanges on Tuesday. Shares of the company opened at Rs 625 on the BSE, a premium of 34.4% over its initial public offering (IPO) price of Rs 465. On NSE, it listed at Rs 651.
Unicommerce makes multibagger market debut
Ecommerce software firm Unicommerce Esolutions also listed on the bourses on Tuesday, at Rs 230 on the BSE, a 113% premium over its issue price of Rs 108. The company’s scrip got listed on the NSE at Rs 235 apiece. The Rs 277-crore IPO was subscribed nearly 170 times – making it one of the most subscribed issues this year.
Sachin Tendulkar pads up to venture out with new sports brand
Tendulkar is joining hands with former Swiggy Instamart head Karthik Gurumurthy to start a sports athleisure brand. Karan Arora, a former Swiggy executive, is the third cofounder. The company was incubated under early-stage venture fund Whiteboard Capital. On the front foot: For the ace cricketer, the new venture will see him get closely involved in the business and operations, unlike a typical brand-celebrity endorsement deal.
Nykaa Q1 net profit soars 152% on year to Rs 13.6 crore
FSN E-commerce Ventures, which operates the Nykaa brand, has clocked a 152% growth in its net profit on year in the April-June quarter. Net profit at Rs 13.64 crore, against Rs 5.42 crore a year ago; sequentially, it was up 50%. Revenue from operations up 23% on year at Rs 1,731 crore.
Funding Deals
Trade finance platform Vayana has raised $20.5 million from investors led by Sumitomo Mitsui Banking Corporation (SMBC) Asia Rising Fund to fuel its plan to introduce new products.
All-electric intercity bus startup Fresh Bus has raised Rs 87.5 crore ($10.5 million) in Series A funding round led by international early-stage transportation-focused VC fund Maniv, with participation from Shell Ventures, Alteria Capital, and existing investor Riverwalk Holdings.
Beco, a homegrown eco-friendly home, kitchen and personal care brand, has raised $10 million in its pre-Series B round led by Tanglin Venture Partners. The round also saw participation from Titan Capital Winners Fund, Manish Choksi, promoter of Asian paints, existing investor Rukam Capital and Synergy Capital.
Ethnic wear brand Fashor has raised $5 million in a funding round from early-stage venture capital firm Blume Ventures in a mix of primary and secondary transactions.
Marine robotics deep-tech startup EyeROV has raised Rs 10 Crore (about $1.2 million) in a pre-Series A round led by Unicorn India Ventures.
Sportstech startup CricHeroes has raised its Series B1 round led by Venture Catalysts for an undisclosed amount. The funding round saw participation from several notable investors, including Games24x7 (an existing investor), WeFounderCircle, Eagle10 Ventures (via LetsVenture), Ivy Growth, and Pranav Patel of Pnr Projects Private Limited.
🎀 Short Story: The Small Business Breakthrough
Ava, a budding entrepreneur, struggled to market her handcrafted jewelry. Despite her best efforts with advertising, her small business saw minimal growth.
One day, a satisfied customer, who loved her unique designs, shared her purchase on social media, praising Ava's work to her friends.
This personal endorsement was more powerful than any advertisement.
The friend’s genuine recommendation prompted others to visit Ava's online store, leading to a significant increase in sales.
This chain reaction of recommendations not only boosted her business but also established her reputation as a trusted and talented artisan.
Tweet of the day🐥
As you navigate through your day, consider the influence you wield through your recommendations and the trust you place in those of your friends.
In both personal and professional contexts, authentic endorsements can have far-reaching effects.
Rise & Shine encourages you to cultivate relationships where trust and support can flourish, empowering each other through genuine recommendations.
Have an influential Wednesday!
Thanks for reading till the end!