DEEM ROLL TECH IPO
Swiggy’s pre-IPO Esop sale; GST & ride-hailing apps
Food delivery company Swiggy will buy back Esops worth $65 million, its fifth such exercise. This and more on today’s ETtech Top 5.
VIEW: SEBI needs to find a balance between protecting retail investors' rights and capital formation
VIEW: In a surprising move, SEBI reversed its earlier directive to the Association of Investment Bankers of India (AIBI) and restored special rights for PE investors on June 24, 2024. Initially, SEBI required these rights to lapse at the draft red herring prospectus stage, but pushback from investors led to a rollback.
Ecommerce space heats up; and other top tech, startup stories this week
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. It has been a packed week for ecommerce and quick commerce news. The previous weekend began with Zepto scooping up $665 million in funding, at more than double its last valuation in 2023, which is a pivotal moment for the sector.
BigBasket, 1mg’s plans for capex; win for epharmacies in Madras HC
Tata’s online grocery BigBasket and epharmacy 1mg will largely depend on debt capital to fuel expansion this fiscal. More on this in today’s ETtech Morning Dispatch.
Ixigo IPO pops; AI jobs command premium pay
Ixigo lists at about 50% premium, ends day at 20% upper circuit. This and more in today’s ETtech Top 5.
ETtech Q&A | Public markets have reset, private tech valuations still lagging behind: Rubrik founders
The US software company said it has 900 employees in Bangalore, India, developing products for the globe from here. Rubrik has hired engineers, product managers, and UX designers in India along with setting up a significant chunk of its customer service team out of India.
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Oyo’s maiden annual profit; RBI guidelines for fintech SRO
In a significant turnaround, hospitality startup Oyo reported its first annual profitable fiscal on Thursday. This and more in today’s ETtech Top 5.
A leaner M&M charting new expansion path, looks to enter new industry, list 2 businesses, step up global presence
The group also aims to ensure that Tech Mahindra and Mahindra & Mahindra Financial Services (Mahindra Finance) realise their full potential besides bolstering the logistics, holidays and real estate businesses, which have been identified as “growth gems”
Shareholder nod for Swiggy’s $1.25 billion IPO; Koo halts salaries
Online food delivery major Swiggy has received shareholder approval to go public. This and more in today’s ETtech Top 5.
P2P lenders to stop liquid funds; and other top tech, startup stories this week
Peer-to-peer (P2P) lending platforms have decided to halt one of their most attractive products from March 31 following increased regulatory scrutiny by the Reserve Bank of India, we reported on March 22.
Meesho’s secondary deal; tech VCs line up for consumer brands
Peak XV Partners and Tiger Global are among investors aiming for a stake in ecommerce firm Meesho via secondary deals. More details in a packed edition of ETtech Morning Dispatch.
Deem Roll Tech shares list at 55% premium on NSE SME
Deem Roll Tech shares debut with a 55% premium on the NSE SME platform. The IPO receives strong response from investors. The net proceeds will be used for the expansion of manufacturing unit in the iron and steel rolling mill industry. The Indian steel industry offers good potential for roll manufacturers.
IPO calendar: 6 new issues, 5 listings to keep primary market busy next week
In the week gone by, two mainboard IPOs Juniper Hotels and GPT Healthcare opened with a target to raise Rs 2,325 crore.
Deem Roll Tech IPO allotment: Check status, GMP and other details
Investors can check the status of Deem Roll Tech IPO allotment by logging in to the official website of the registrar, which is Skyline Financial Services in this case.
Vibhor Steel Tubes share price nearly triples on listing day. Should you book profits?
Boasting a diverse product portfolio, an established distribution network, and consistent financial performance, Vibhor Steel Tubes possesses a solid foundation for growth, maintained analysts
Deem Roll Tech IPO: Check issue size, price band, GMP and other details
Deem Roll Tech IPO GMP: India is home to the fifth-highest reserves of iron ore in the world. Easy availability of low-cost manpower and presence of abundant iron ore reserves make India competitive in the global set up.
FII flows, IPO action among 9 factors that will steer D-Street this week
"The market closed near its peak, with the Bank Nifty index emerging as a standout performer. Despite a rocky start, the PSU index demonstrated resilience, bouncing back from early declines. With few definitive signals this week, the market focus remains on the trajectory of the dollar index and US bond yields," Santosh Meena, Head of Research, Swastika Investmart, said.
IPO calendar: 4 new issues, 7 listings to drive primary market activity next week
In the upcoming week, mainboard IPOs of Juniper Hotels and GPT Healthcare will hit the street to raise over Rs 2,000 crore. Meanwhile, SME companies Zenith Drugs and Dream Roll Tech are also scheduled to launch their issues.
PE, VC firms strengthen India leadership teams
A booming IPO market and dealmaking activities in venture capital and growth equity at reasonable entry valuation are also fuelling the need for talent both at the senior and execution levels, said executives.
Medi Assist IPO: Subcribe to Rs 1,172-crore offer to tap into fast-growing health insurance sector
Medi Assist earns 3-3.5% fees on the insurance premiums serviced by it. For FY23, the company earned nearly 75% of its revenues from group insurance schemes - the fastest growing segment in health insurance - and roughly 11% each from retail and government-sponsored schemes.
FirstCry to file IPO papers soon; BharatPe’s Rs 500 crore debt plan
Omnichannel retailer FirstCry aims to raise $500-600 million from its public listing and is likely to file its draft IPO papers in the next few days. This and more in today’s ETtech Top 5.
38 'million-dollar' accounts are contributing towards our revenue mix: Tata Technologies CEO
“We are working very hard from a business development perspective to deliver value to the existing customers but also to complement the existing portfolio of customers with new logos that have the ability and have the capacity to scale with the ambitions of growth that we have for our company.”
Tata Technologies IPO: Worried about not getting allotment? Check if you can apply in multiple categories
With almost a unanimous view that one cannot miss the opportunity to invest in an IPO from a Tata Group company, investors are taking a punt by applying in multiple categories.
Good possibility of upside in Infosys, TCS in CY24; buy hotel stocks on dips: Deven Choksey
“The conditions are basically playing a major role in giving a good amount of business to most of the hospitality players – be it Indian Hotels, East India Hotels or even the mid-tier small hotel segment. Be it ITC, be it Indian Hotels, the hospitality heroes have all been following the asset-light model strategy now, wherein most of the properties that they are working on now is on an operational management contract, vis-à-vis earlier situation of owning the assets.”
IPOs with high demand from staff show big listing gains
This is because half of the companies that reserve portions for employees in their IPOs are not able to get the portion fully subscribed. Hence, when the employees over-subscribe to an issue, it indicates high confidence in the prospects of the business.
Tata Tech on the road to future of auto can be a good long-term bet
The shares in the IPO are offered by promoter Tata Motors, whose holding will drop to 55% after the IPO from 66% and two other investors who will garner nearly ₹728 crore from selling their stakes.
Tata Technologies’ 3 priorities are growth, growth and growth: Warren Kevin Harris
“One of the things that differentiates us is that although we are very proud of our position here in India, we are very much a global company, we are not an India out company and so we practice a very balanced onshore, offshore proposition and we have got a very balanced set of revenues from different parts of the world.”
Apple asked to cooperate in iPhone probe; Mamaearth IPO fully booked
Apple has been asked to join a probe led by India's official cyber security agency over allegations of hacking of opposition parliamentarians’ phones. This and more in today's ETtech Top 5.
Takeaways from Mamaearth's IPO filing; Tech Mahindra Q2 show adds to IT slowdown
Honasa Consumer, the IPO-bound parent of Mamaearth, has seen a reduction in contribution to revenue from its top 10 selling products. This and more in today’s ETtech Top 5.
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