Paytm gets approval for biggest India IPO๐
A Quick Recap of the Week.
Hi ๐๐ป,
Start your day, the smart way!
Must-read stories from the world of tech & startups delivered to your inbox.
Every day, keep an eye on the Promotions tab for new mail.
Paytm gets Sebi nod for โน16,600 crore IPO๐คฉ
One97 Communications, the parent company of fintech platform Paytm, has received the nod from the Securities and Exchange Board of India (SEBI) for its Rs 16,600 crore initial public offering (IPO).
While Rs 8,300 crore will be primary share sale, Rs 8,300 crore will be an offer for sale (OFS), where existing investors can sell their shares.
The company is planning for a mid-November listing.
This will be India's biggest public issue so far, a record that was previously held by Coal India, which raised Rs 15,000 crore over a decade ago, underscoring the appetite for new-age Internet companies among institutional investors.
One97 was founded by Vijay Shekhar Sharma in 2000. It began its journey as a value-added service provider and evolved over the years to become an online mobile payments firm.
Paytm is currently India's second most valuable Internet company, last valued at $16 billion when it raised a billion dollars in November 2019.
A Quick Recap of the Week
Monday
India comes second in unicorn race in Q3๐ฅ
Salman Khan launches Indiaโs first social crypto-token, Chingariโs โ$GARIโ๐ฅ
Meesho records 750% surge in user base during festive season sales๐
Tuesday
Paytm allots โน100 crores to marketing campaigns during festival season๐ธ
Facebook plans to hire 10,000 in EU to build 'metaverseโ๐ฉ๐ปโ๐ป
PharmEasy closes pre-IPO funding round at $5.6 billion valuation๐
Wednesday
After receiving $250 million in investment, the value of Cred roughly doubled๐ต
Ola top executives leave as the company prepares to go public๐
ConveGenius raises $5 million from BAce Capital, Heritas Capital, and 3Line๐ฐ
Thursday
Microsoft has launched a new initiative in India to support AI startups๐
Good Glamm Group acquires media & lifestyle content platform ScoopWhoop๐ฅ
Stripe acquires Bengaluru-based payments software firm Recko๐ค
Friday
Foodpanda and Rebel Foods launch Asia's largest virtual brand partnership๐
LetsVenture launches an investment syndicate, LV Fuel๐ซ
Sourcewiz raises $3M led by Blume and Alpha Wave Incubation๐ธ
Funding Deals
Tala, a Bengaluru-based fintech company, has raised $145 million in its Series E fundraising round, led by Upstart and with participation from the Stellar Enterprise Foundation.
Dutchie, a cannabis e-commerce platform, has raised $350 million in its latest funding round, valuing the company at $3.75 billion.
Arrivae, a furniture startup, raised Rs 50 crore in its first external funding round led by ace investor Rakesh Jhunjhunwala.
SaaS Labs, a provider of business process automation software, announced on Monday that it has raised $17 million in Series A funding from Base 10 Partners and Eight Roads Ventures.
Duroflex, a Bengaluru-based sleep solutions company, has raised $60 million from Norwest Venture Partners for its Duroflex and Sleepyhead brands.
Aviom India Housing Finance, a fintech startup that provides credit to low-income households, has raised $8 million in a Series C round of funding from Sabre Partners.
Instacart acquires Caper AI, a smart cart and instant checkout startup, for $350M, as it moves deeper into physical retail tech.
The Indian startup ecosystem raised approximately $23 billion in the nine-month period between January and September this year, with more than 55 percent of the funding raised in Q3 2021 alone.
Eyewear brand ClearDekho on Wednesday said it has raised $4 million in pre-Series A funding led by Aroa Ventures which happens to be the family office of Oyo founder Ritesh Agarwal.
Electric vehicle energy infrastructure firm ๏ปฟSun Mobility๏ปฟ on Wednesday said it has closed $50 million (nearly Rs 370 crore) funding by Vitol.
๏ปฟRevFin๏ปฟ, a Delhi-based digital e-mobility consumer lending platform underwriting financially excluded and underserved segments, has recently raised $4 million in pre-Series A funding round in both equity and debt.
Non-profit organisation Habitat for Humanity International has invested Rs 3 crore in startup Tvasta Manufacturing Solutions Ltd to boost the supply of affordable 3D printed homes in India.
Edtech startup Questt on Thursday said it has raised $6.75 million (Rs 50 crore) in funding, led by Celesta Capital and Premji Invest.
๏ปฟIDfy๏ปฟ, Mumbai-based ID verification and onboarding solutions company, announced that it has raised an investment of Rs 86 crore in its series D round of funding led by TransUnion and Blume Ventures.
Have a wonderful weekend!๐ฅณ
Thanks for reading๐
Hitย ๐, if you enjoyed the article. You can forward this mail or share it on social media.
๐ฅ๐ฅ