MOBIUS CAPITAL PARTNERS INDIA
India seeks to boost exports to Russia after PM Modi's trip
India is intensifying efforts to increase exports to Russia following Prime Minister Narendra Modi's recent visit to Moscow. Despite a surge in Russian exports to India, reaching $61.43 billion out of a total $65.7 billion trade last fiscal year, Indian exports like pharmaceuticals and machinery have seen minimal growth. New Delhi seeks to address non-tariff barriers on exports and promote rupee-rouble trade, despite challenges such as Russia's preference for more widely used currencies.
Circuit House Technologies raises $4.3 million in funding round led by Stellaris, 3one4 Capital
Varun Alagh of Mamaearth and Tracxn’s Abhishek Goyal also participated in the funding for the consumer electronics maker, which was started by Xiaomi India chief business officer Raghu Reddy.
Dezerv raises $30 million in strategic funding round led by Premji Invest
Dezerv, an investment management platform, has raised $30 million in funding led by Premji Invest. The company plans to develop new investment strategies for high-net-worth individuals and increase its assets under management. With a primary capital raise of Rs 265 crore and a secondary component of Rs 53 crore, Dezerv is set for growth.
Peak XV has Rs 16,000 crore for investment; AI to be in focus: Rajan Anandan
Peak XV Partners, managing director Rajan Anandan said the company isn't facing any shortage of capital, they just want more people starting up in AI. "We have over 25 AI investments that we’ve made over the last 1-1.5 years,” he said. Peak XV Partners recently led a $10.5 million funding round in AI health startup Cloudphysician.
DEG-IFC-ADB trio eyes renewable energy firm Fourth Partner
A group of German investor DEG, along with the World Bank's International Finance Corporation (IFC) and the Asian Development Bank (ADB), are set to invest $300 million to acquire a controlling interest in Fourth Partner Energy, a renewable energy firm based in Hyderabad.
Ixigo's stock rally continues; retro tax relief likely for egaming cos
Shares of Ixigo continued to surge a day after the travel platform’s IPO. This and more on today’s ETtech Top 5.
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Ummeed Housing Finance raises Rs 630 cr equity
Ummeed Housing Finance raises ₹630 crore in Series F round from investors including A91 Partners LLP and existing investors. Funds to be used for expansion in central and southern India.
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.
Ixigo’s stellar stock market debut: Here’s what venture funds Elevation, Peak XV made on their investments
Le Travenues Technology, which operates the travel platform Ixigo, made a stellar debut on Dalal Street on Monday with a premium of 48.5%. The IPO included a fresh equity issue of Rs 120 crore and an offer for sale (OFS) of up to 66.6 million shares. Existing shareholders such as Elevation Capital, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics, and Placid Holdings partially offloaded their stakes through the OFS.
Bluestone’s new investors; states & semicon hubs
Happy Tuesday! New investors are finalising Bluestone’s pre-IPO funding round. This and more in today’s ETtech Morning Dispatch.
Skincare brand Foxtale raises $18 million from Panthera Growth, others
Direct-to-consumer (D2C) skincare brand Foxtale has raised nearly Rs 150 crore in the latest funding round. It will use the capital mainly for expanding into newer categories, founder Romita Mazumdar told us. The company will foray into body care category which includes products like lotions and body wash, she added.
Realty Co Total Environment has raised Rs 1600 crore from top lenders
Total Environment has paid off approximately ₹2,070 crore of debt raised from top-tier financial institutions, driven by robust residential sales.
Ixigo IPO opens for subscription. Should you bid?
Ixigo IPO by Le Travenues Technology will open for subscription with a price band of Rs 88-93 per share. Investors can bid for 161 shares in one lot. The IPO closes on June 12.
IPO gold rush for investors; second-hand EV sales sputter
Happy Monday! Investors in new-age startups are set for huge gains as these firms list on the public markets. This and more in today’s ETtech Morning Dispatch.
How investors struck gold in the new-age IPO boom
In the last month, several new-age companies backed by venture capital, have or are set to hit the public markets. This has resulted in a gold rush for their investors. Travel tech platform Ixigo is set to go public next week, while insurtech firm Go Digit and coworking startup Awfis have already listed on the exchanges in the past one month. Their investors, including Peak XV Partners, Elevation Capital, ChrysCapital and TVS Capital and A91 Partners, are sitting on multiple returns from some of these investments.
Ixigo IPO opens tomorrow. What GMP signals ahead of subscription?
Before its initial public offering (IPO) set to open for subscription on Monday, Le Travenues Technology, the company behind the travel platform Ixigo, is seeing its shares trade at a premium of Rs 25 in the unlisted market.
Ixigo raises Rs 333 crore from anchor investors ahead of IPO
Nomura, Morgan Stanley, 3P India Equity Fund, HDFC MF, Motilal Oswal MF, Government of Singapore are some of the marquee investors who subscribed to Ixigo's anchor book. The company had already announced pre-IPO secondary placements of around Rs 176.2 crore at the top end of price band.
Lending startup Fibe closes $90 million financing in mix of primary and secondary transaction
Pune-based consumer lending startup Fibe is raining money at a time when fintech lending startups focusing on unsecured consumer lending are finding it difficult to raise fresh equity funding due to RBI's scanner.
Ixigo to launch its IPO on June 10. Check key details
The IPO comprises fresh equity sale of Rs 120 crore and an offer for sale (OFS) of up to 6.66 crore shares. Under the OFS, SAIF Partners, Peak XV Partners, Aloke Bajpai, Rajnish Kumar, Micromax Informatics and Placid Holdings will offload part of their stakes.
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.
Brands by scions attract VC money; Ola Electric layoffs
Happy Monday! A new wave of brands founded by second generation entrepreneurs is snagging venture capital. This and more in today’s packed edition of ETtech Morning Dispatch.
Sports apparel maker Technosport raises $25 million in funding from A91 Partners
Bengaluru-based Techno Sportswear raises $25 million from A91 Partners for its performance wear brand Technosport, marking its first fundraise.
Xponentia, A91 Partners &360 ONE Asset invest $100 mn in Sedemac Mechatronics
Sedemac Mechatronics, founded by Professor Shashikanth Suryanarayanan at IIT Bombay, announced a $100 million investment led by Xponentia Capital Partners, A91 Partners, and 360 ONE Asset.
Mark Mobius turns bullish on Chinese stocks amid recent rally
Mark Mobius turned bullish on Chinese equities, citing confidence in the recent rebound after advising investors to avoid them in April.
Income Tax department notifies cost inflation index for current fiscal
The Income Tax Department has notified the Cost Inflation Index (CII) for the fiscal year 2024-25, set at 363, to calculate long-term capital gains from the sale of assets. The CII reflects economic inflation, with an increase of 15 points from the previous year, aiding taxpayers in adjusting gains for inflation and reducing tax liabilities.
More PE firms gearing up for India debut
The US PE firm Platinum Equity is exploring investments in a range of sectors.
More PEs head to India armed with big money to bag deals
Growtheum Capital Partners, a private equity firm headquartered in Singapore, is scheduled to inaugurate its Mumbai office this July, joining the growing list of PE investors in India. At the same time, US-based private equity firm Platinum Equity is evaluating investment opportunities across various sectors such as healthcare, technology, and infrastructure as it prepares to enter the Indian market.
Ride-hailing startup BluSmart to raise Rs 200 crore in new funding
BluSmart has raised nearly $24 million or Rs 200 crore in its latest funding round. In January this year, BluSmart had raised $25 million, while in 2023 it conducted funding rounds worth $66 million.
Ixigo receives Sebi clearance for IPO
As per DRHP, offer to include Rs 120 crore of fresh shares and OFS component of 66.67 million shares
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