FIRSTCRY MANIPAL GROUP
Sebi clears FirstCry and Unicommerce IPO
FirstCry, an omnichannel baby products retailer, and ecommerce enterprise software developer Unicommerce have received approval from Sebi for their IPOs. Pune-based FirstCry had refiled its draft papers with Sebi following queries on its KPIs, while Unicommerce filed for the IPO in January.
A week of hits and misses in fintech; and other top tech, startup stories
Hi, this is Pratik Bhakta in Bengaluru. It’s been a busy news week for us here at ETtech covering some of the most important stories in the fintech space. We had a string of big exclusives, wrapping it up here just in case you missed reading them.
VCs in reset mode amid exit pressure; and other top tech & startup stories this week
While VCs haven’t really been busy closing deals over the past year or so, their performance has surely come under increased scrutiny as limited partners (LPs) or sponsors of funds ask for cash returns. The Indian venture market, which is now 15 years old, has been exit-starved and a prolonged downturn has exposed the state of the industry very clearly.
CCI clears Ranjan Pai’s investment in PharmEasy
Ranjan Pai invests in PharmEasy's funding with 360 One. API Holdings board seats acquired. Rights issue resolves debt. Monthly burn reduction and strategic direction expected.
VCs looking for partial exits, investors eyeing IPO-bound firms push up secondary deals
Founders of mid-scale startups, who spoke to ET, said existing investors in their cos are demanding exits even at reduced valuations.
Ranjan Pai turns white knight for Byju’s with 40% stake in Aakash
The Aakash board has approved the conversion into equity of the $300 million Pai invested during 2023, they added. This values the company — one of the remaining valuable assets for Byju Raveendran’s troubled edtech group — at around $700 million and renders it debt-free.
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FirstCry parent files IPO papers, to raise Rs 1,816 crore via sale of new shares
Existing investors including SoftBank, Premji Invest also selling shares; company to use IPO proceeds for new stores, overseas expansion
SoftBank Vision Fund sells more of its FirstCry stake ahead of IPO
Family offices of Indian cricketer Sachin Tendulkar, Ravi Modi of ethnic wear brand Manyavar, Infosys cofounder Kris Gopalakrishnan, and TVS group family are among those buying into the company.
RBI grants payment aggregator licences to Razorpay, Cashfree, others; FirstCry’s IPO details
While the payment aggregator licence was thought to be routine initially, for the likes of Razorpay and Cashfree, it makes a big impact as they step out of the ban on bringing in new customers.
SoftBank-backed FirstCry set to file for IPO, eyes $500-600 million raise
FirstCry will be the second Indian vertical e-commerce platform to go public after Nykaa’s IPO in 2021. The Pune-headquartered company specialises in selling products for kids and mothers across online and offline formats.
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.
Paytm to go slow on small-ticket loans; MPL's FY23 report card
Paytm will scale down its Postpaid business as recent regulatory hurdles have prompted a strategy rethink at the payments firm. This and more in today's ETtech Top 5.
Ranjan Pai has a ‘Powar’ plan for family office Claypond Capital
Claypond Capital, Pai's family office, is in talks with veteran banker Shyam Powar to head the family investment office as the Manipal chief sharpens his focus on the internet economy.
Manipal Group's Ranjan Pai invests in omnichannel beauty retailer Purplle
In May, ET had reported that JSW Ventures had partially sold its stake in Purplle to Abu Dhabi Investment Authority (ADIA). At the time, the startup closed a $40-50 million funding round, split between primary and secondary transactions, at a flat valuation of $1.1 billion.
Ranjan Pai invests in beauty etailer Purplle; Skyroot gets Temasek boost
Ranjan Pai's investment spree continues as the chairman of the Manipal Education and Medical Group has now invested in omnichannel beauty retailer Purplle. Details on this and other major startup deals in today's ETtech Top 5.
Ranjan Pai closes in on $300 million Aakash deal; tech firms face Israel crisis
In what could be a shot in the arm for Byju’s, Manipal Education and Medical Group chairman Ranjan Pai may invest as much as $250-300 million in Aakash Institute, a subsidiary of the troubled edtech firm. This and more in today’s ETtech Morning Dispatch.
Manipal group's Ranjan Pai likely to invest $250-300 million in Byju's subsidiary Aakash Institute
The initial $170 million tranche will pay off Davidson Kempner debt; the Manipal chairman may rope in more PEs.
All roads lead to The Economic Times Startup Awards 2023 in Bengaluru today
Union minister for commerce and industry Piyush Goyal and minister of state for electronics and IT Rajeev Chandrasekhar will be the guests of honour at the high-octane event.
Mubadala, Brunei’s Sovereign Wealth Fund look to pick up a slice of Manipal Hospitals
Temasek owned Sheares Health, is in advanced negotiations to sell 8-9% of its 59% interest in Manipal Health Enterprises to Abu Dhabi' fund Mubadala and the sovereign wealth fund of Brunei, Brunei Investment Authority (BIA), said people in the know.
ET Startup Awards 2023: Winners to be Felicitated on October 7
The ninth edition of The Economic Times Startup Awards (ETSA) will be held on Saturday, October 7, in Bengaluru to honour this year's winners across eight categories in what will be a star-studded gathering of the who's who of India's new economy.
The Pai-and-Kamath way to startup investing; and other top tech stories this week
Bluestone is only the latest in the list of investments by Pai and Kamath, but this marks the growing pace at which they are signing new cheques at a time mid-to-large scale startups are finding it hard to score new funding.
Elite jury meets today to pick winners of ET Startup Awards 2023
The jury members spread across the world will come together to recognise the brightest and best entrepreneurial leaders in what has turned out to be one of the most testing years for the startup ecosystem.
ET Startup Awards 2023: Mission starts to spot stars of the startup galaxy
A star-studded jury led by Kotak Mahindra Bank founder and director Uday Kotak will meet virtually on September 12 to pick the winners of The Economic Times Startup Awards (ETSA) 2023
Byju’s restructures biz amid exits; Banks advocate unified registry for digital fraud
Byju’s on Tuesday said it has consolidated four verticals into two, K-10 and exam preparation, as part of moves to restructure its mainstay business.
CaratLane’s Mithun Sacheti on glittering Titan deal; Zerodha expects steady revenue in FY24; and FirstCry closes secondary deal
Happy Monday! Mithun Sacheti hit it big on Saturday when he sold his 27% stake in online jewellery marketplace CaratLane to Titan. The Rs 4,621 crore deal is among the largest for any Indian consumer internet company. Hear all about it from Sacheti himself in today’s super packed edition of the ETtech Morning Dispatch.
Three Indian family offices pick up Rs 435 crore SoftBank stake in IPO-bound FirstCry
SoftBank, which held 29% in the company, is believed to have diluted its stake by about 1.5-2% as part of the secondary share sale.
Exclusive: Manipal Group’s Ranjan Pai in talks for stake in FirstCry
Pai is expected to invest around Rs 250 crore in the ecommerce firm as part of a broader secondary share sale at FirstCry at a valuation of close to $3 billion, sources said.
Ranjan Pai in talks for stake in FirstCry; IT hardware firms may get more time for local manufacturing
Manipal Group chairman Ranjan Pai is likely to pick up a stake in FirstCry, as part of a secondary share sale. Pai’s Rs 250 crore investment could come at a valuation of about $3 billion for the Pune-based ecommerce firm looking to file its draft IPO papers before the end of this year. All this and more in today’s Morning Dispatch.
Exclusive: India's sovereign wealth fund may make first digital bet with FirstCry
The National Investment and Infrastructure Fund (NIIF) in talks to pick up stake in FirstCry in $150-$200 million secondary deal, providing exits to some early investors in the omnichannel retailer of baby products.
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