NYKAA LISTING
Purplle closes Rs 1,000 crore funding deal led by Abu Dhabi Investment Authority
Purplle has also announced a Employee Stock Ownership Plan (Esop) liquidity programme and will offer liquidity of Rs 50 crore to its employees. Company cofounder and CEO said they will constantly innovate their technology to provide the best for their customer. Purplle is one of the fastest-growing retailers in the beauty and personal care (BPC) segment, having grown its GMV by four times over the last three years.
Top brands bank on 'imported' sales events to boost demand
Back to school sales in India have seen rapid growth over the last five to six years, with the event generating over a fourth of retail laptop sales. This trend is second only to the Diwali festive season's contribution of 30-35%, according to industry estimates. Other 'imported' sales events include small business days, Black Friday, Cyber Monday, Mother's Day, Father's Day, and Valentine's Day.
Ecom Express sets the ball rolling for Rs 3,000-crore IPO
Third-party logistics firm Ecom Express is looking to list on the public markets to raise Rs 3,000 crore, two people aware of the development told ET. The Warburg Pincus-backed company has appointed bankers Kotak Capital, IIFL, Axis Capital, and UBS to take forward the process.
Ecom Express sets the ball rolling for Rs 3,000-cr IPO
"Ecom Express has initiated the process for the public issue, which includes both a fresh issue and an offer for sale from the existing investors. The company is likely to file its draft red herring prospectus soon," said one of the people cited above.
Beauty secrets: Inside India's booming beauty industry that relies on hundreds of contract manufacturers
Nishit Dedhia, the MD and cofounder of Kain Cosmeceuticals, is leading a tour of his cosmetics manufacturing facility in Khopoli, Maharashtra. The facility produces a variety of beauty products for the growing direct-to-consumer market in India.
Startups’ pink slip count falls to 10,000 amid funding blues
Firing in first half of 2024 lesser than H2, H1 of ’23, signalling a slight recovery. Ola Electric is in the final stages of laying off over 600 after sister company Ola Cabs fired around 200 workers in late April. Industry executive told ET, even with the slowdown in layoffs, startups are still not out of the woods.
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Hot Stocks: Brokerage view on Tata Consumer, Varun Beverages and Mankind Pharma
Top brokerage firms like Motilal Oswal, Jefferies, and Morgan Stanley have issued buy ratings and targets for Mankind Pharma, Nykaa, Tata Consumer, and Varun Beverages.
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.
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.
Food delivery cos bet on existing users; Infosys CEO interview
Happy Tuesday! With user growth stagnating, Zomato and Swiggy are prodding existing customers to order more. This and more in today’s ETtech Morning Dispatch.
Ecommerce in slow lane; PhonePe-BharatPe truce
Happy Monday! Online sales haven’t picked up during the final quarter of FY24, industry officials said. This and more in today’s ETtech Morning Dispatch.
Ecommerce fails to click for firms in Q4 as sales dip across segments
Online consumption lagged in the March quarter across segments like electronics, wearables and beauty. Delhivery said ecommerce delivery volumes declined 13% sequentially in the March quarter to 176 million, while on a year-on-year basis they were down 2%. Cofounder and CEO Sahil Barua indicated this slowdown comes after a strong December quarter.
A quarter of hits & a few misses; and other top tech, startup stories
Welcome to another edition of ETtech Unwrapped – our weekend newsletter. This is Pranav Mukul in New Delhi. This week we’ve wrapped up another compelling quarterly earnings season for listed new-age companies from Zomato and Delhivery to Paytm and PB Fintech.
Nykaa shares rally 3% after Q4 results. What brokerages recommend you should do
The company also posted a 28% year-on-year (YoY) increase in operating revenue for the March quarter to Rs 1,667 crore led by a 24% increase in the core business, beauty and personal care (BPC), to Rs 1,388 crore during the quarter.
Expect 15-18% upside in Sun Pharma over medium to long term: Hemang Jani
Sun Pharma numbers were slightly below expectations in terms of EBITDA and we do think that though they have guided for a very strong growth through their speciality portfolio, that is a little bit time away.
Hot Stocks: Brokerages on Jubilant FoodWorks, Sun Pharma, Nykaa; Motilal upgrades HDFC Life
Top brokerages issue ratings and targets for key stocks: Motilal Oswal upgrades HDFC Life to buy; Jefferies reaffirms buy for Sun Pharma; UBS stays neutral on Nykaa; Jefferies advises hold on Jubilant FoodWorks. Analysts anticipate growth trajectories and address performance factors.
India Inc gets inked; corporate leaders vote for stable govt, development, emancipation of poor
Industry leaders from Tatas, Ambanis, and Birlas vote in Mumbai during the Lok Sabha elections, focusing on development, economic growth, and voting choices in Maharashtra.
Q4 results this week: ITC, ONGC, Sun Pharma, Nykaa, Ircon International and IRFC
ITC, ONGC, IRFC, Ircon International, BHEL, BEL, Sun Pharma, Nykaa, Tata Investment Corporation, Hindalco, Ashok Leyland, and Divi's lab will be releasing their March quarter report cards this week.
VC funding for women-led startups declined in 2023: report
A new report reveals a decline in VC funding for women-led businesses in India. According to WinPe, a non-profit organisation focused on gender diversity in private equity, the share of funding going to female founders dropped to just 9.3% in 2023, compared to 14.7% in 2021.
LinkedIn Top Companies 2024 List: Here are the top companies in India according to LinkedIn
LinkedIn has released its annual ranking of the top 25 workplaces in India, showcasing the most sought-after companies for career progression and job opportunities. Tata Consultancy Services (TCS) retains the top spot, followed by Accenture and Cognizant. The financial services sector dominates the list, with nine companies featured. In the midsize category, Lentra and MakeMyTrip lead the rankings. The report highlights hiring trends, with Bengaluru as the top hiring location, and emphasizes the importance of investing in employee experience to attract and retain talent in the evolving job market.
Tech firms TCS, Accenture, Cognizant lead LinkedIn's top large companies list
LinkedIn's 2024 Top Companies list in India features Tata Consultancy Services, Accenture, Cognizant, and others. Insights include in-demand skills like investor relations, capital markets, and job opportunities in diverse industries across locations like Bengaluru and Hyderabad.
Buy Nykaa at current price; 2 top picks for the day: Aditya Arora
Aditya Arora recommends buying Reliance at Rs 2970, stop loss Rs 2900, target Rs 3070. Cipla at Rs 1471, stop loss Rs 1430, target Rs 1540. He further says that "The whole cement pack and anything related to capital and infrastructure, heavy goods and anything related to realty, infrastructure is doing pretty well."
Nykaa has huge lead, edge to actively defend its turf: Founder Falguni Nayar
Nykaa, led by Falguni Nayar, plans to stay competitive in the beauty and fashion retail sector with a focus on customer expectations and market leadership against Indian conglomerates and new entrants like Tata Cliq Palette.
Fortunes of startup founders swing with stock prices in past 12-14 months
During the last 12-14 months, startup founders such as Zomato’s Deepinder Goyal and Policybazaar’s Yashish Dahiya and Alok Bansal have reaped mega rewards. However, Paytm founder and CEO Vijay Shekhar Sharma has seen his wealth eroded.
Doubtful of markets’ reception of loss-making firms without visibility on profits: Sanjeev Bikhchandani
Info Edge cofounder Sanjeev Bikhchandani added that a rise in the share prices of portfolio companies such as Policybazaar and Zomato over the 6-12 months period had coincided with the companies’ bottom line improvements.
Startups talk up funding winter, but loosen their purse strings
During the ongoing funding winter, several internet majors such as Paytm, Policybazaar parent PB Fintech, Flipkart failedd to control expenses in FY23. Horizontal omnichannel retailers such as Nykaa, Mamaearth parent Honasa Consumer and FirstCry also saw both employee expenses and marketing costs rise anywhere between 23% to 55% during FY23.
Bengaluru biggest hub for most valued companies started by self-made entrepreneurs: Report
A majority 129 such industry leaders are from the Karnataka capital, which is ahead of Mumbai (78), and Gurugram and New Delhi (49), as per a report by Hurun India.
Mutual funds take a shine to Zomato, Nykaa, Paytm, other new-age stocks
An analysis of shareholding patterns of new-age firms such as Zomato, Paytm, Delhivery, Nykaa and PB Fintech, showed mutual funds have increased their holdings in several of these companies slowly but significantly over the last four quarters.
Mamaearth parent Honasa Consumer sees IPO going in the right direction
Honasa Consumer’s Rs 1,700 crore IPO opened for public subscription on Tuesday. It is offering the shares at a price band of Rs 308-324 each.
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