Paytm gets approval for biggest India IPO📈
A Quick Recap of the Week.
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 ₹16,600 crore IPO🤩
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 $16 billion when it raised a billion dollars in November 2019.
A Quick Recap of the Week
India comes second in unicorn race in Q3🥈
Salman Khan launches India’s first social crypto-token, Chingari’s ‘$GARI’🔥
Meesho records 750% surge in user base during festive season sales🛍
Paytm allots ₹100 crores to marketing campaigns during festival season💸
Facebook plans to hire 10,000 in EU to build 'metaverse’👩🏻💻
PharmEasy closes pre-IPO funding round at $5.6 billion valuation💊
After receiving $250 million in investment, the value of Cred roughly doubled💵
Ola top executives leave as the company prepares to go public🚕
ConveGenius raises $5 million from BAce Capital, Heritas Capital, and 3Line💰
Microsoft has launched a new initiative in India to support AI startups🆕
Good Glamm Group acquires media & lifestyle content platform ScoopWhoop🎥
Stripe acquires Bengaluru-based payments software firm Recko🤑
Foodpanda and Rebel Foods launch Asia's largest virtual brand partnership🍟
LetsVenture launches an investment syndicate, LV Fuel💫
Sourcewiz raises $3M led by Blume and Alpha Wave Incubation💸
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 Sun Mobility on Wednesday said it has closed $50 million (nearly Rs 370 crore) funding by Vitol.
RevFin, 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.
IDfy, 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!🥳
Thanks for reading😊
Hit 💜, if you enjoyed the article. You can forward this mail or share it on social media.