NAVI's Rs 4000 Crs IPO 💸, Faasos - Largest Indian QSR 🍕, MSFT's 4th data center 👨🏻💻
Navi to file for Rs 4000 Crs IPO, Faasos is now largest Indian origin QSR, What is QSR?, Microsoft to set up 4th data center region in India, Funding Deals & more.
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Sachin Bansal’s Navi to file for Rs 4,000-crore IPO this week📊
Sachin Bansal's Navi Technologies is set to file its draft papers with the markets regulator for a Rs 4,000-crore initial public offering (IPO) later this week.
The company plans to launch its IPO in June, according to the current plans. The public issue will be entirely through an issuance of new shares, with no offer-for-sale (OFS) component.
This means Bansal, who holds 97% of the firm, will not sell shares to investors in the planned IPO.
Bansal has invested Rs 4,000 crore of his own capital in Navi and is expected to retain majority control of the firm even after the IPO.
Faasos is now largest Indian origin QSR with 500 restaurants in 10 countries🍛
D2C unicorn Rebel Foods’ homegrown brand, Faasos, said it has touched the milestone of the 500 restaurants across 10 countries making it the largest Indian origin QSR chain, globally.
Faasos entered 7 new countries in 2021 - the United Kingdom, Singapore, Malaysia, Thailand, Hong Kong, Philippines, and Bangladesh. Motivated by an 80% consumer repeat rate in India. The brand also added 55 new internet restaurants and 50 new cities in the last quarter.
The brand witnessed a 7.5X order growth within months of its launch in Bangladesh, Malaysia and Singapore. The brand was launched in Thailand in August 2021 and witnessed a 150% growth in just one month.
From January 2021 to 2022, revenue grew at 11x led by strong brand positioning which today represents ~70% of Rebel Foods’ portfolio sales across 6 countries in South East Asia.
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What is QSR?
Quick Service Restaurant
(QSR) is a restaurant that offers certain food items that require minimal preparation time and are delivered through quick services. Typically, quick-service restaurants or QSRs cater to fast food items over a limited menu as they can be cooked in lesser time with a minimum possible variation.
Captain Fresh, a business-to-business (B2B) seafood and meat marketplace, has raised $50 million in a round led by existing investors Prosus Ventures and Tiger Global.
Banking tech platform Zeta has raised $30 million as a part of strategic investment from Mastercard and other investors, taking the company’s valuation to $1.5 billion.
Agritech startup Otipy (operated by Crofarm Agriproducts) has raised $32 million (about Rs 235 crore) in funding led by Westbridge Capital.
DeepTek, a Pune-based health tech startup, has raised $10 million (Rs 77 crore) in a funding round from Tata Capital Healthcare Fund II (TCHF II).
Esports gaming platform Gamerji has raised $1.1 million in a Pre-Series A round led by Unicorn India Ventures.
Microsoft to set up fourth data center region in Hyderabad👨🏻💻
Microsoft India said on Monday that it intends to set up its fourth data center region in Hyderabad. This will be the company’s largest data center in India and will be among the largest foreign direct investments (FDIs) in the state.
Anant Maheshwari, president, of Microsoft India, told that this would help the company meet the growing demand for public cloud in India which has been accelerated by the Covid-19 pandemic.
Hyderabad is home to the largest engineering center and campus for Microsoft outside the US. The new data center is expected to be its largest in India and will be among the company’s largest data center investments in the country.
According to IDC, Microsoft data center regions in India contributed $9.8 billion to the economy between 2016 and 2020. The company currently has three data center regions in Mumbai, Pune and Chennai.
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