VARANIUM CAPITAL
Investors high on SME IPOs with up to 1,300% returns. Is it time to get sober?
Investors high on SME IPOs with up to 1,300% returns. Marquee investors, top performers like Owais Metal & Mineral Processing, and risks of market manipulation highlighted. Emphasis on due diligence and investor awareness.
Wipe out! Sebi-hit SME superstar stock is now down 88% from peak in just 8 months
Varanium Cloud, entangled in Sebi's scrutiny, experienced a drastic decline in its valuation from its peak in October last year. The stock, which hit a 52-week high of 239.5 in October 2023, plummeted to Rs 29.3 in the latest trade, marking a staggering 87% decline.
Fraud concerns raise red flags for India's booming tiny IPOs
Earlier this year, regulators clamped down on equity markets financing to cool pre-IPO sale frenzy. Still, the nation’s market for first-time share sales remains vibrant, with 102 deals priced since the start of 2024.
GetVantage launches Rs100 crore 'Rise-Up Fund' for women entrepreneurs
GetVantage will disburse the funds through its own NBFC GetGrowth Capital, along with Varanium’s Debt Fund partnership, among other NBFCs and AIFs.
Paytm Money KYC process under review; Satya Nadella on India’s AI potential
The customer verification process of Paytm Money, the wealth management entity run by Paytm’s parent One 97 Communications, is being audited. This and more in today’s ETtech Morning Dispatch.
Metafin secures $5 million funding from Prime Venture Partners, others
The Gurugram-based company will use the funds to expand across states, improve its loan book, enhance its technology and IoT stack, and hire new talent, it said.
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GetVantage launches Rs 250 crore Saas accelerator fund
The company said it has fully deployed the original corpus and has earmarked nearly four times the amount for this follow-on fund given the inbound interest from hundreds of SaaS founders over the past 12-18 months.
InCred enters unicorn club with $60 million funding round
In 2022, InCred Finance and KKR India Financial Services merged to create a joint entity under the brand name InCred Finance.
ETtech Deals Digest: Boosted by investment in Sarvam AI, Indian startups raise $108 million this week
Investment in startups fell 79% in the December 4-8 week, from $514 million across 38 funding rounds in the same period a year ago. Sequentially, however, funding activity saw a surge of 81%, compared to $59 million raised across 18 rounds, last week.
Byju’s CEO says will tide over crisis in 45-60 days; BNPL startup ZestMoney to shut down
Amid the ongoing cash crunch at Byju’s, founder and CEO Byju Raveendran told senior executives that he is aiming to address the crisis over the next 45-60 days.
Rural-focused fintech Navadhan raises $5 million led by Prime Venture Partners
Navadhan, which is a RBI registered non-banking finance company, also runs a technology platform - AceN - which offers a full stack, from sourcing to digital onboarding of customers.
Musk-Modi US bonhomie and Tesla’s India plans; Mumbai drone startup Ideaforge's IPO journey
Tesla will vroom into India “as soon as humanly possible”, says its boss Elon Musk. The Twitter CEO was addressing reporters after his meeting with Prime Minister Narendra Modi, who is on a four-day visit to the US.
Rural-focused fintech startup Navadhan raises $1.5 million in funding
Navadhan has raised $1.5 million in a seed funding round led by Varanium NexGen, a fintech-focused fund. Existing investor Anicut Capital co-led the round, while Gemba Capital also participated.
PMS Tracker: These 15 funds reward HNI investors with double-digit returns in April
At least 15 PMS funds delivered returns of at least 10% in April. Among them, Green Portfolio's Super 30 Dynamic Fund was the top performer with 17% returns. Negen Capital's special situations and technology fund followed with 13.63% returns, while Basant Maheshwari's equity fund, Hem Securities' SME fund, Invasset, Bonanza, Lake Water Advisors, Aequitas and Badjate Stock and Shares, and Samir Arora-run Helios Capital's India Rising Fund were also among the top gainers. Only two PMS funds had negative returns, while Hem Securities' India Rising SME Stars topped the returns chart for the last year with over 38% returns.
Revenue-based financing startup GetVantage secures NBFC licence from RBI
NBFC arm GetGrowth Capital will run the lending operations for GetVantage and dole out financing to small and medium enterprises and new economy businesses.
A dozen foreign and local entities express interest in Rolta insolvency
The resolution professional, Mamta Binani, received 12 expressions of interest (EoI) which included eight companies, one Singapore-based fund house and three individuals.
Tiny diamonds! 19 multibagger SME IPOs gave up to 463% return in FY23
Topping the charts is Mumbai-based digital technology company Varanium Cloud whose shares have zoomed 463% since its Dalal Street debut in September-end. The Rs 31 crore IPO, which was sold at an offer price of Rs 122 per share, was subscribed over 5 times.
Stock market update: Stocks that hit 52-week highs on NSE
Avro India, Mold Tek Tech, Baheti Recycling Industries Ltd., Varanium Cloud Ltd. and Wonder Fibromats, hit their fresh 52-week highs at 09:59AM.
Stock market update: Stocks that hit 52-week highs on NSE
Karnataka Bank, GRSE, Varun Beverages, Varanium Cloud Ltd. and AVSL Industries, hit their fresh 52-week highs at 10:45AM.
Stock market update: Nifty Bank index advances 0.56% in an upbeat market
The Nifty Bank index was trading 0.56 per cent up at 41378.1.
Stock market update: Stocks that hit 52-week lows on NSE
Tech Mahindra, Hindalco, Infosys, Wipro and TCS were among the top losers on NSE.
Stock market update: Stocks that hit 52-week lows on NSE
Bharti Airtel, Eicher Motors, Titan Company, Maruti Suzuki and Apollo Hospital were among the top losers on NSE.
Stock market update: Nifty Pharma index advances 1.26% in a weak market
The Nifty Pharma index was trading 1.26 per cent up at 13662.6.
Stock market update: Stocks that hit 52-week highs on NSE
Karnataka Bank, Silly Monks Entertai, Frog Cellsat Ltd., Varanium Cloud Ltd. and Kshitij Polyline, hit their fresh 52-week highs at 09:59AM.
NBFC account aggregator Finvu AA raises $2.5 million from Varanium Nexgen Fund, others
Finvu AA is the first Indian NBFC account aggregator to receive an operating license from the RBI.
ETtech Deals Digest: no big-ticket funding this week
Consumer electronics startup Arzooo raised $70 million, the largest amount this week.
Revenue-based finance firm GetVantage raises $36 million from Varanium Nexgen, others
GetVantage will use the capital to drive growth of its performance-based financing solution and embedded finance products.
Varanium NexGen Fund leads investment round in fintech company HomeCapital
The company’s enables home buyers accelerate their home ownership through its down payment assistance program.
Riskcovry raises pre-series-A round led by Bharat Inclusion Seed Fund
Riskcovry enables the distribution of multiple insurance products across insurers with plug-and-play infra to support any distribution use-case, for existing or new customers..
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