FIRST WATER CAPITAL FUND
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.
Stupa Sports Analytics raises Rs 28 crore from Centre Court Capital, Peer Capital
Founded in 2020, Stupa Sports Analytics provides games federations and sports teams with analytics of player performance data, broadcasting capabilities and sports digitisation tools through its various platforms.
100Unicorns launches second fund, eyes $200-million target
The fund is looking to support more than 200 startups across sectors like SaaS, direct-to-consumer (D2C), fintech, electric vehicles (EV), energy, defence and healthcare. It aims to announce its first close by November, with a target amount of $100 million.
Amazon pumps Rs 1,660 crore into India marketplace entity
Amazon's biggest rivals in India, Flipkart and Meesho, are also raising fresh capital. Walmart-backed Flipkart received a cash infusion of about Rs 924 crore in two parts from its related entities based in Singapore in January. Meesho closed a $275 million funding round comprising a mix of primary and secondary share sales.
ChrysCapital to invest Rs 830 cr in Centre For Sight, to pick Mahindra Holdings' entire stake
ChrysCapital, a domestic PE fund, is set to invest up to Rs 830 crore in New Delhi's Centre for Sight (CFS), a leading eye care chain, partly acquiring Mahindra Holdings Limited's stake. The investment aims to bolster CFS's expansion across India's Tier 1 and 2 cities. CFS, founded in 1996, operates 83 centers across 15 states/UTs and 39 cities, expecting revenue of Rs 515 crore in FY24.
India will soon have solar power waste to fill 720 Olympic-size swimming pools. It has to urgently find solutions.
The country is betting big on solar energy — and rightfully so. But it is not giving equal importance on managing or recycling the waste that would be generated.
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Meesho closes $275 million funding in first tranche, in talks for more
Meesho secures $275M funding in a $600M round. Share transfers hinted in SEC filing. In total, Meesho has raised $1.36 billion – including secondaries – since 2015.
SoftBank sells off Vision Fund assets as Son pivots to AI, chips
SoftBank is shifting focus to AI and semiconductors, while its Vision Fund is selling stakes or writing down billions of dollars worth of its publicly-listed companies. SoftBank founder Masayoshi Son is looking to bankroll a $100-billion chip venture to compete with Nvidia for providing semiconductors to power the development of AI services.
Aadhar Housing Finance IPO fully booked on Day 2. Check subscription, GMP and other details
The IPO comprises fresh equity issue of up to Rs 1,000 crore and offer for sale (OFS) of up to Rs 2,000 crore by existing investors. Under the OFS, BCP Topco VII will offload shares.
These midcap stocks with ‘Strong buy’ & ‘Buy’ recos can rally over 25%, according to analysts
The Q4 earning season is clearly showing its impact on parts of the market. Given the fact that the valuations are high, if there is a slight miss by the company on its expected numbers, the street is being uncharitable in its reaction. On the face of it this might appear to be negative but the fact is that the street is also rewarding the stocks where there is either a positive surprise in Q4 earnings or any of the problems are getting solved. Like in the case of some companies which are seeing the lifting of restrictions by the RBI. So the street is at equilibrium level where it clearly shows that while there is no dearth of money for performers but at the same time if the valuations are high and there is no major positive surprise then it is probably time to shed some weight. Keep an eye on the market breadth in coming days and on the mutual fund numbers which are going to come today to figure out what will be the trend of mid-caps in the short term. ET screener powered by Refinitiv’s Stock Report Plus lists down quality stocks with high upside potential over the next 12 months, having an average recommendation rating of “buy” or "strong buy". This predefined screener is only available to ET Prime users.
Any sharp correction for political reasons will be a good opportunity to add: Chandraprakash Padiyar
Chandraprakash Padiyar discusses market uncertainties due to high valuations despite positive business outlook. He highlights concerns over political changes impacting market reactions and discusses challenges in the specialty chemical industry due to Chinese competition. He also says near-term, the earnings look fairly decent from whichever portfolio companies have reported till date.
Crypto Gems: Top crypto assets to watch & buy in May 2024
Ondo Finance (ONDO) facilitates the tokenization of real-world assets such as real estate, commodities, and art. This allows investors to access fractional ownership of traditionally illiquid assets, diversifying their portfolio beyond typical crypto assets.
Aadhar Housing Finance IPO booked 19% so far on the first day. Check subscription, GMP and other details
Aadhar Housing Finance IPO Status: Aadhar Housing Finance's IPO received 19% subscription on its first day, with QIB investors subscribing 32%, retail investors 14%, and non-institutional investors 12%.
TBO Tek IPO booked 39% so far on first day. Check subscription, GMP, and other details
TBO Tek IPO comprises a fresh equity issue worth up to Rs 400 crore and an OFS of up to 1.25 crore shares by existing investors. Gaurav Bhatnagar, Manish Dhingra, LAP Travel, TBO Korea, and Augusta TBO will offload shares under the OFS.
Unicorn sightings become rare as VCs shun that leap of faith
Investors are going back to the same list of startups they have already backed to write bigger cheques leading to new unicorn sightings becoming rare. Only Perfios and Ola founder Bhavish Aggarwal’s Krutrim AI have become unicorns so far in 2024, and the number was the same for the whole of 2023.
FirstCry's parent firm Brainbees Solutions re-files IPO papers; issue size remains unchanged
May 6 Brainbees Solutions Ltd, the parent firm of online e-commerce platform FirstCry, has re-filed preliminary papers with Sebi to raise funds through an initial public offering, an update with the markets regulator showed on Monday.
RBI not likely to cut interest rates soon; how this delay can impact bond investors, what they should do
The expected reduction in interest rates has been delayed, which is different from what was anticipated earlier this year. Experts now predict a slower and less substantial decrease. This has consequences for bond market investments.
Innovaccer’s new funding round; ONDC’s logistics push
Happy Thursday! SaaS startup Innovaccer is in discussions to raise funding at a flat valuation of $3 billion. This and more in today’s ETtech Morning Dispatch.
Former BharatPe COO Dhruv Bahl launches venture fund
Former BharatPe COO Dhruv Dhanraj Bahl launches venture capital fund, Eternal Capital. The fund plans to raise Rs 120 cr with a greenshoe option for a similar amount
Value, contra mutual funds offer up to 80% return in one year. Should you go for value investing?
Value and contra mutual funds demonstrated strong performance, with top schemes offering impressive returns. Analysts suggest a long-term investment horizon for value funds, emphasizing careful stock selection and diversification across asset classes for effective risk management.
Expect a capital call from IDFC First Bank in FY25: V Vaidyanathan
IDFC First Bank, led by V Vaidyanathan, plans to raise capital in FY25 to support growth. The bank's strong market performance, deposit growth, and focus on loan quality position it for continued success in the financial sector. Vaidyanathan also says that he expects income to grow faster than and by a meaningful number and maybe by 400-500 basis points. That will open up the jaw of profitability.
FirstCry to refile IPO papers; Lyskraft’s mega seed funding
Happy Friday! Omnichannel retailer FirstCry will refile its IPO papers following queries from Sebi. This came right on the back of Swiggy’s $1.25 billion proposed IPO receiving shareholder nod. This and more in today’s ETtech Morning Dispatch.
Kedaara Capital closes largest India PE fund at $1.74 billion
Kedaara Capital has closed its $1.73 billion fund, Kedaara IV, the largest fund raised by an India private equity fund in 12 years. The fund, which will be its fourth in 12 years, was raised in just four months beginning last December and would even surpass Chrys Cap’s $1.3 billion Fund IX raised in 2023. Around 85% of Kedaara’s new fund was raised from existing backers, including the three of the largest Canadian pension funds – CPPIB, CDPQ, and Ontario Teachers’ Pension Plan (OTPP).
Peak XV MD Piyush Gupta to leave VC fund
Piyush Gupta is a managing director at Peak XV Partners, based out of Singapore. While he is not directly involved in making investments for the fund, he led the team which helped the firm's portfolio companies in several aspects including fundraising, mergers and acquisitions.
Polls, politics, and heatwaves set to rock the national capital. Will Delhi suffer water woes like Bengaluru?
Last year, Delhi CM approved a short-term plan to increase water production by 131 MGD. He also gave the green light to a longer action plan aiming to boost water production by 380 MGD. However, according to the latest report provided by DJB, water production is static. This means that the projects discussed weren't taken forward.But there still is talk of a water crisis in the city.
Shiprocket's cofounder to lead Tribe Capital's first India fund
Tribe Capital's India AIF, led by Vishesh Khurana, aims for local presence with Raj Snehil Juneja. Zomato linked. Emphasis on local partners, capital. Funding round targets exit for early investors.
Fundraising via QIP hits Rs 78,000 crore in FY24 on strong market sentiment
Fuelled by improved market sentiments and robust underlying demand, fundraising by issuing shares/units to institutional investors soared to Rs 78,000 crore in 2023-24, a more than seven-fold surge year-on-year.
Cedar Capital announces first close of Rs 240 crore fintech fund
Cedar Capital's fund would invest in almost 15 early-stage startups, with a primary focus on banking technology and business-to-business (B2B) fintech startups. In addition, leading family offices and institutional investors from India and the Middle East are among the limited partners who participated in this round
Navam Capital announces first close of maiden fund at Rs 50 crore
Navam Capital announces first close of Navam Venture Fund I with commitments of Rs 50 crore. The fund aims to invest in intellectual property-rich ventures translating science and engineering breakthroughs into differentiated products and services, targeting a fund size of Rs 250 crore.
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