The Arc
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Essential news, incisive analysis, and data-led insights about influential tech companies in India. Sign up - http://thearcweb.com/subscribe
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🚨 Pine Labs has raised Rs 1,754 cr from anchor investors 💰 MIT, Nomura and Templeton among the global investors. Also, mutual funds like Axis, SBI and Mirae. The anchor investor portion covers 45% of the Rs 3,900 cr IPO, which opens from Nov 7-11.
💰TVS Motors is selling its 1.4% stake in Rapido for Rs 288 crore TVS invested about Rs 114 crore in Rapido in 2022, according to Tracxn That's a 150% return in just over three years.
🚨 TVS Motor Company is selling its stake in Rapido to new investor Accel and existing backer Prosus This comes after Swiggy sold off its stake in Rapido to Prosus in September
🚨 Some other important takeaways on Groww from Lalit Keshre - Loans against securities (LAS) will be the growth driver in the lending biz - Despite a fall in volumes, Groww is gaining share in the lucrative derivatives biz ⁃ Patient about AMC biz scale up for the next 2-3…
🚨Investment platform Groww is going public as the most profitable venture-backed unicorn in India. So, what worries CEO Lalit Keshre❓ "The biggest problem companies face is employees checking the share price every day....if it moves 10% up or down, we shouldn’t think we’re…
🚨Groww IPO is fully subscribed as of 11:15 am on the second day, led by retail investors. Qualified institutional buyers - 0.10x Non-institutional investors (NIIs) - 1.21x Retail - 3.41x Groww is raising Rs 6,632 crore from the IPO at a close to Rs 62,500 crore…
🚨 Ola Electric's operating revenues fall 17% QoQ & 43% YoY to Rs 690 crore on a July-September period Net loss stood at Rs 410 crore, down 4.3% QoQ and 16% YoY Says the auto biz has become adjusted EBITDA positive
🚨 PB Healthcare has closed its $218 mn round, adding Faering Capital, Bay Capital, Think Investments, Avataar and Select Group as investors. PB Health has also acquired Mumbai-based Fitterfly, a platform offering diabetes reversal and weight management.
🚨 Silicon Valley's General Catalyst is coming in as lead investor in Policybazaar-promoted healthcare venture - PB Healthcare Services PB Healthcare is raising a $218 mn round, where Policybazaar is expected to invest $100 mn More investors are also expected to join the round
For PhysicsWallah, this marks a 40% jump from its last valuation of $2.46 bn in Sep 2024. While PhysicsWallah started in 2016 as a YouTube channel, the company was incorporated in Dec 2020. That makes it less than five years to an IPO, likely the fastest among Indian startups.
🚨 PhysisWallah is set to go public at a market cap of Rs 31,527 cr or $3.56 bn IPO size: Rs 3,480 cr (Rs 3,100 cr primary + Rs 380 cr OFS) Price band: Rs 103-109 IPO date: Nov 11-13 It is backed by investors like WestBridge and Lightspeed. Co-founders Alakh Pandey and…
🚨 PhysisWallah is set to go public at a market cap of Rs 31,527 cr or $3.56 bn IPO size: Rs 3,480 cr (Rs 3,100 cr primary + Rs 380 cr OFS) Price band: Rs 103-109 IPO date: Nov 11-13 It is backed by investors like WestBridge and Lightspeed. Co-founders Alakh Pandey and…
🚨Investment platform Groww is going public as the most profitable venture-backed unicorn in India. So, what worries CEO Lalit Keshre❓ "The biggest problem companies face is employees checking the share price every day....if it moves 10% up or down, we shouldn’t think we’re…
🚨 MoEngage, a customer engagement and marketing tech platform, has raised $100 million from A91 Partners and Goldman Sachs. The company had last raised funding in 2022, when it was valued at around $700 million.
🚨 Paytm has appointed tech entrepreneur Manisha Raisinghani as an independent director 👩💼 Raisinghani will join the 8-member board as the 5th independent director. Right now, she runs AI software startup Sifthub.
🚨 Paytm has nearly doubled its net profit in the July-September quarter as compared to the April-June. Operating revenues at Rs 2,061 crore for the quarter, up 24% YoY and 7% QoQ.
Groww IPO subscribed 57% as of 5 pm on the first day. Qualified institutional buyers - 0.10x Non-institutional investors (NIIs) - 0.59x Retail - 1.91x Groww raised Rs 2,982 crore from anchor investors, covering 45% of the Rs 6,632 cr IPO
🚨 Lenskart IPO subscribed 28 times as of 5 pm on the final day Qualified institutional buyers - 40.35x Non-institutional investors (NIIs) -18.23x Retail - 7.53x Lenskart is raising Rs 7,278 crore at a valuation of nearly Rs 70,000 crore
GIC, which led Groww’s pre-IPO round, is doubling down as it goes public with the same $7 bn valuation. Otherwise, all the top mutual funds and AMCs have a large share of Groww's anchor book. Funds of market veterans Madhu Kela, Utpal Sheth & Sanjay Dangi are also on the list
🚨 Groww has raised Rs 2,985 cr from anchor investors 💰 Government of Singapore and Norway's Pension Fund among the global investors. Also, mutual funds like HDFC, SBI and Kotak. The anchor investor portion covers 45% of the Rs 6,632 cr IPO, which opens from Nov 4-7.
This reflects the recalibration many Unicorns have seen since the 2021–22 peak. Last year, insurance co GoDigit and trucking aggregator Blackbuck also listed at a discount. Now they are trading above the peak private valuation. More on Pine Labs thearcweb.com/article/pine-l…
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