IPO VALUATION
![Ola Electric is said to face investor pushback on IPO valuation](https://img.etimg.com/thumb/msid-111173136,width-100,height-75,resizemode-4/markets/ipos/fpos/ola-electric-is-said-to-face-investor-pushback-on-ipo-valuation.jpg)
Ola Electric is said to face investor pushback on IPO valuation
Ola Electric Mobility is encountering resistance from investors regarding its targeted valuation for the upcoming initial public offering. According to sources familiar with the matter, the company's founder is aiming for a valuation of up to $7 billion in the Mumbai listing. However, initial feedback from investors suggests a valuation closer to $5 billion. The sources requested anonymity as the information is not public.
![Hyundai’s IPO Is Poised to Boost Indian Automakers’ Valuations](https://img.etimg.com/thumb/msid-111112826,width-100,height-75,resizemode-4/markets/ipos/fpos/hyundais-ipo-is-poised-to-boost-indian-automakers-valuations.jpg)
Hyundai’s IPO Is Poised to Boost Indian Automakers’ Valuations
Hyundai Motor India Ltd. plans a significant share sale, potentially valuing its Indian unit at $25 billion. Analysts believe this could elevate the nation's auto sector valuations further.
![ETtech Q&A | Public markets have reset, private tech valuations still lagging behind: Rubrik founders](https://img.etimg.com/thumb/msid-110880468,width-100,height-75,resizemode-4/tech/technology/in-2-years-market-will-sort-out-high-quality-companies-rubrik-cofounders.jpg)
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.
![Hindalco defers Novelis’ $945 mn US listing](https://img.etimg.com/thumb/msid-110752152,width-100,height-75,resizemode-4/markets/stocks/news/hindalco-defers-novelis-945-mn-us-listing.jpg)
Hindalco defers Novelis’ $945 mn US listing
Hindalco Industries has postponed the proposed $945-million listing of Novelis Inc due to concerns about potentially below-premium valuations for the US subsidiary impacting the valuation of the Indian entity listed in Mumbai.
![Kronox Lab Sciences IPO booked 118x on last day. Check GMP and other details](https://img.etimg.com/thumb/msid-110726693,width-100,height-75,resizemode-4/markets/ipos/fpos/kronox-lab-sciences-ipo-booked-nearly-43x-on-last-day-check-gmp-and-other-details.jpg)
Kronox Lab Sciences IPO booked 118x on last day. Check GMP and other details
On Wednesday, the final day of the bidding process, the initial public offer (IPO) of Kronox Lab Sciences witnessed a subscription rate of nearly 118 times, fueled by strong demand from non-institutional investors. This particular category was oversubscribed by an impressive 302 times.
![Hindalco-owned Novelis postpones US IPO](https://img.etimg.com/thumb/msid-110717560,width-100,height-75,resizemode-4/markets/stocks/news/hindalco-owned-novelis-postpones-us-ipo.jpg)
Hindalco-owned Novelis postpones US IPO
On Tuesday, Novelis, which is owned by the Indian billionaire Kumar Mangalam Birla's Hindalco Industries, announced the postponement of its initial public offering due to prevailing market conditions.
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Lenskart $200M secondary deal; Baron bumps up Swiggy’s valuation
Singapore's Temasek and US-based Fidelity have invested $200 million in Lenskart through a secondary share sale. This and more in today’s ETtech Top 5.
Baron Capital marks up Swiggy valuation by 25% to $15.1 billion
Swiggy Valuation: Baron Capital, which participated in Swiggy’s $700 million funding round in January 2022 at a valuation of $10.7 billion, has raised the fair value of its holding in Swiggy for the fourth straight time. Crossover funds, i.e. funds which invest in publicly traded and privately held companies, review the valuation of their portfolio companies periodically.
Kronox Lab Sciences IPO booked 11x on strong demand from retail, NII investors
Overall, the Kronox Lab Sciences IPO was subscribed nearly 11 times, driven by strong interest from retail and non-institutional investors. In the unlisted market, the company's shares are trading with a premium of Rs 80.
Kronox Lab Sciences IPO opens for subscription. Should you bid?
Kronox Lab Sciences IPO, consisting solely of an offer for sale, presents potential for sustainable growth, with analysts recommending subscription. The issue, open until June 5, allocates 50% to QIBs, 15% to NIIs, and 35% to retail investors.
Hindalco unit Novelis to debut on NYSE in 2 weeks at likely valuation of $12.6 bln
Hindalco will raise up to $945 million at the upper end of the proposed price range. Including a green-shoe option, whereby it could offer another 6.75 million shares, or a 1.1% stake, in case of overallotment, the total proceeds for the sole shareholder of Novelis could go up to $1.09 billion.
Hindalco shares surge 2% after company arm Novelis files 45 million shares in IPO
Hindalco Share Price: Hindalco's shares surged 2% on the BSE during Wednesday's trading session, reaching a peak of Rs 695 for the day. This rise followed news that its subsidiary, Novelis, had filed to offer 45 million shares in its US initial public offering (IPO), with a price range of $18 to $21 per share.
Bluestone's unicorn round; Sorin’s Rs 1,350-crore fund
Happy Wednesday! Omnichannel jewellery startup Bluestone is nearing unicorn status with a potential $100-million pre-IPO investment. More on this in today’s ETtech Morning Dispatch.
Bluestone may turn unicorn in pre-IPO funding round
This funding round will more than double ominchannel jewellery retailer Bluestone's valuation from around $450 million in September 2023. Bengaluru-based Bluestone’s pre-IPO round is seeing interest from new and existing investors, encouraged by the Tata Group’s CaratLane deal where Titan bought out the founder’s (Mithun Sacheti) stake last year.
Hindalco's Novelis files papers for US IPO, targets up to $12.6 billion valuation
Novelis is offering 45 million shares, and aims to raise $945 million in its US public offer, and has fixed the price band at $18-21 per share.
Go Digit’s D-Street debut; Honasa Consumer Q4 financials
Shares of Go Digit General Insurance started trading on the stock market Thursday. More on this in today’s ETtech Top 5.
Go Digit makes stock market debut, gains 12% on issue price
Ahead of the issue opening, the firm raised about Rs 1,176 crore in the anchor round, where Fidelity Investments, Goldman Sachs, ADIA, and Custody Bank of Japan were among the investors.
Continuum Green Energy eyes funds from two private equity investors at $1-billion valuation
Continuum Green Energy (India) is preparing to raise funds from two global private equity investors, with a valuation estimated at $1 billion, in anticipation of an upcoming initial public offering (IPO). Founded by Arvind Bansal and Vikash Saraf, the renewable energy company has signed a term sheet with Global Environment Fund and UK-based Just Climate to secure $150 million in funding. This investment will establish a valuation benchmark ahead of the IPO.
Oyo withdraws IPO application, opts for private funding at 70% valuation cut
Hospitality company Oyo has withdrawn its draft IPO papers for the second time, which it had filed in March 2023.
Mizuho is in talks to buy KKR’s part stake in fintech company InCred
According to latest discussions, global investment firm KKR may sell around 10% stake in Mumbai-based tech-driven NBFC InCred but this may change depending on how the talks progress, sources told ET.
Go Digit IPO opens; quick commerce boost for FMCG firms
Go Digit General Insurance launched its Rs 2,615 crore initial public offering (IPO) on Wednesday. More details on this in today's ETtech Top 5.
Go Digit Insurance Rs 2,615 crore IPO retail portion fully subscribed
The IPO, priced between Rs 258 to Rs 272 per share, will close on Friday. The company had reserved 9.6 million shares for retail investors.
Go Digit General Insurance raises Rs 1,176 crore in pre-IPO funding
Fidelity, Goldman Sachs, ADIA, Steadview Capital, SBI MF, ICICI Prudential MF and Axis MF are among the anchor investors that participated. Digit Insurance has set a price band of Rs 258 to Rs 272 per share for its initial public offering, which opened on Wednesday, seeking a valuation of $3-3.2 billion.
Digit Insurance IPO's retail portion fully subscribed; key highlights of the offering
The retail portion of Digit Insurance's IPO was fully subscribed at 1.45pm. The company had reserved 9.6 million shares for retail investors in the issue that opened on Wednesday. The Rs 2,615-crore IPO comprises a fresh issue of Rs 1,125 crore and an offer for sale component of up to 54.7 million shares.
Carlyle hires 5 I-banks for $1 bn Hexaware IPO
Carlyle plans to list Hexaware, aiming to raise $1 billion at a valuation of $5.5-6 billion. The move follows Carlyle's acquisition of Hexaware in 2021 from Baring PE Asia. If successful, it would mark India's largest technology sector IPO.
Digit IPO: tempering tech valuations & other top startup stories this week
This is Pratik Bhakta in Bengaluru. Insurance startup Digit, by valuing itself at a discount of 25% to its last known private market valuation, seems to have stuck its neck out. And it’s a move that’s certainly got everyone talking.
Digit cuts valuation for IPO; Internet firms vs Google in NCLAT
Insurtech startup Digit is eyeing a discounted $3 billion valuation through its proposed public offering. Details on this and more in today’s ETtech Top 5.
EQT to list Sagility; $3 billion valuation likely
Sagility India IPO: EQT has hired investment bankers - ICICI Securities, IIFL, JP Morgan and Jefferies. This proposed IPO is likely to value Sagility at about $3 billion (Rs25,000 crore ) and EQT may raise about $400-500 million (Rs4000 cr), said sources.
Digit to go public on May 15, looking to raise Rs 1,125 crore
Digit's upcoming IPO on May 15 aims to raise Rs 1,125 crore, delayed by Sebi compliance issues. Valued at $4 billion, Digit faced fines from IRDAI. With a new CEO, Digit is poised to enter the market.
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