India’s first women-led unicorn to go public🦸♀️
Sensex, Nifty hit record closing highs; MSD invests in HomeLane, and even more.
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Nykaa: India’s first profitable unicorn readies for its IPO💅🏻
Nykaa, an online beauty aggregator, plans to raise Rs 525 Cr through a new stock offering. According to media sources, the company plans to raise Rs 4,000 Cr in total.
Nykaa shows that not all startups need to be cash-burn machines to achieve scaling and market leadership.
Nayar owns about half of the company with her husband and their twin children, meaning the value of their stake could exceed $2 billion if the startup reaches or surpasses initial projections.
Sensex at a record high, Nifty hits 16000 📈
The benchmark Sensex reached a new high and closed the day at 53,823, up 872 points or 1.65%, the biggest since May 21.
The Nifty 50 index finished above 16,000 for the first time, ending the session at 16,123, up 238 points or 1.55 %.
Top reasons for the market’s rally:
Tech, FMCG, and financial stocks surged.
Factor activity growth picked up.
Strong corporate results.
IPO push.
Better GST collections.
Hot Shorts ⚡
Infra.Market, a business-to-business (B2B) construction materials commerce platform, has received $125 mn at a valuation of $2.5 bn.
Higher education firm upGrad has acquired US-based KnowledgeHut to enter the short-duration upskilling and reskilling segment.
KnowledgeHut will operate as a wholly-owned subsidiary of upGrad and is expected to clock a revenue of Rs 300 crore next year.
MSD invests in HomeLane and becomes 1st brand ambassador🧰
Home interiors brand HomeLane has entered into a three-year strategic partnership with Mahendra Singh Dhoni as an equity partner and brand ambassador.
HomeLane intends to add 25 more tier 2 and tier 3 cities over the next two years, with a marketing budget of Rs 100 Cr to support this ambitious expansion.
With the upcoming cricket and festive season, HomeLane and MS Dhoni are jointly working on a brand new campaign that will be released during the new IPL season.
Tweet of the day🐥
✅ Tesla's India plans may be hurt after a minister stated that the government is not considering lowering import duties.🤕
✅ Ola Electric will launch its first scooter on August 15, said its CEO and founder Bhavesh Aggarwal.🛵
“Everyone on earth has a treasure that awaits him.”
-Paulo Coelho, The Alchemist.
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