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Flipkart Shuts It's Groceries Delivery App Nearby

26Feb By PriyankaNo Comments

News

Flipkart Shuts It's Groceries Delivery App Nearby

A month later, Mukesh Bansal and Ankit Nagori resignation India’s largest e-commerce firm Flipkart shuts it's groceries delivery app, Nearby. The company Nearby was five months old. Paytm, operated by One97 Communications Ltd, also closed its grocery service in June because of poor demand. The Nearby app was launched as an experiment by Flipkart in Bengaluru in October. The company promised to deliver fruits, vegetables, soaps and other staples from supermarkets to customers within an hour of receiving an order. On 11 January, Flipkart named co-founder Binny as CEO, replacing Sachin Bansal, in a move that it claimed would strengthen its management bandwidth as it seeks to combat archrival Amazon India and kick off preparations for an expected initial public offering (IPO) over the...

Big Startups Are Ready to Enter Into the Indian Share Market

17Jan By NitishNo Comments

Story

Big Startups Are Ready to Enter Into the Indian Share Market

Every Indian entrepreneur asking this one question most when they met with their fellow entrepreneurs and Investors in events. When Flipkart and other companies will go for an IPO? Are they go to list their companies in India? The answer was partially disclosed yesterday, in the last session of Startup India "Show Me The Money: How do we capitalize Entrepreneurship rolls". Where Mr. Jayant Sinha, MOS Finance, asked the same and very important question to all the panelist which includes Radhika Agarwal (Shop Clues), Ritesh Agarwal (OYO Rooms), Sachin Bansal (Flipkart), Naveen Tiwari (Inmobi), that "Will you place your company's IPO in India?" The founders had given mixed reply but said if Indian Government and regulators are ready to support us then we can also look into it. ...

30Dec By Press Trust of IndiaNo Comments

BUSINESS

Indian firms raised Rs 68,608 crore through equities in 2015

Indian firms mopped up over Rs 68,608 crore through the equity market route in 2015. This is 76 percent higher than Rs 39,067 crore raised through the equity market in 2014. Out of the total Rs 68,608 crore raised, fresh capital accounted for only Rs 25,964 crore, with the remaining Rs 42,644 crore coming from offers for sale. "The year could have been even better but for the deferment of several PSU offerings. The year, of course, fell short of Rs 97,746 crore, the highest amount which has ever been raised (in 2010)," Prime Database Managing Director Pranav Haldea said. The highest-ever mobilisation through initial share sale plans was in 2010 at Rs 37,535 crore. In comparison, five IPOs had hit the capital market to garner just Rs 1,201 crore in 2014. The year 20...

Sandhar Technologies gets Sebi nod for IPO

28Dec By Press Trust of IndiaNo Comments

BUSINESS

Sandhar Technologies gets Sebi nod for IPO

Automotive components firm Sandhar Technologies has received market regulator Sebi's approval to raise at least Rs 300 crore from an initial public offering. The company had filed the draft red herring prospectus (DRHP) with Sebi on September 29, seeking permission for an IPO. The Securities and Exchange Board of India (Sebi) has cleared the proposed initial share sale and gave its final observations on the IPO on December 21. The initial public offer (IPO) consists fresh issue of equity shares aggregating up to Rs 300 crore and offer for sale of up to 51.15 lakh shares by GTI Capital Beta at a face value of Rs 10 each. The funds garnered from the IPO will be used for setting up a new manufacturing facility at Hosur in Tamil Nadu, repayment/pre-payment, in full or part, of cert...

A Fall In Tech Valuations, U.S. and Chinese unicorns running in different directions

21Dec By No Comments

BLOGS

A Fall In Tech Valuations, U.S. and Chinese unicorns running in different directions

A fall in tech valuations may send U.S. and Chinese unicorns running in different directions. Several private Silicon Valley firms worth $1 billion or more have taken valuation hits once they are in the public eye. The same may be happening to one-horned beasts in the People’s Republic, only in private. Take Jack Dorsey’s U.S. online payments outfit, Square. The shares popped enthusiastically on the company’s stock market debut in November, but its market capitalization remains about a third below the $6 billion price tag implied by an earlier private funding round. Some unicorns that have yet to go public are already feeling the chill. Fidelity Investments, a prominent investor in late-stage private financings, recently marked down its holding in Snapchat by 25 percent from a headline ...

Hiring firm TeamLease Services Ltd gets Sebi nod for IPO

14Dec By NitishNo Comments

Story

Hiring firm TeamLease Services Ltd gets Sebi nod for IPO

Hiring firm TeamLease Services Ltd on Monday secured approval from the Securities and Exchange Board of India (Sebi) for its initial public offering (IPO). The firm had filed its draft initial public offering (IPO) papers with the capital markets regulator in September. The company, backed by private equity funds Gaja Capital and ICICI Venture’s India Advantage Fund (IAF), is looking to raise around Rs450-500 crore through the offer. TeamLease’s core business is providing staffing solutions. The majority of its business involves providing employees engaged in sales, logistics and customer service functions. TeamLease has an estimated market share of 5-6%. The business is supported by strong processes and technology, internal processes and a professional management team with long e...

Dr Lal PathLabs raises $28.6M ahead of IPO

8Dec By AdityaNo Comments

News

Dr Lal PathLabs raises $28.6M ahead of IPO

Dr Lal PathLabs Pvt Ltd, operator of the second-largest medical diagnostics services chain in the country, has raised Rs 191 crore ($28.6 million) by selling shares to anchor investors ahead of its initial public offering. The company allotted 34.80 lakh shares at Rs 550 apiece to anchor investors, it said in a statement on Monday. The anchor investors included investment funds and mutual fund schemes operated by Fidelity, T Rowe Price, JP Morgan, Birla Sun Life Mutual Fund and SBI Magnum Mutual Fund. Mutual fund schemes of DSP Blackrock, ICICI Prudential, Kotak Mahindra and Reliance Capital also invested. The IPO will hit the capital markets on Tuesday and close on Thursday. The company has fixed the price band for the IPO between Rs 540 and Rs 550 per share. The firm had file...

Cafe Coffee Day set to launch its IPO on 14 October

7Oct By NitishNo Comments

News

Cafe Coffee Day set to launch its IPO on 14 October

India's biggest coffee chain, The Cafe Coffee Day, will launch an initial public offering next week. Coffee Day Enterprises Ltd (CDEL), the holding company of the Cafe Coffee Day (CCD) aiming to raise up to $176 million in the country's biggest IPO in nearly three years. Cafe Coffee Day's share sale is scheduled to close on Friday next week and the stock is due to start trading in Mumbai on Nov. 2. The price band for the offering has been set at between 316 rupees and 328 rupees a share, said two sources directly involved in the deal separately on condition of anonymity. Coffee Day Enterprises Ltd, which competes with Starbucks Corp among others in India, is backed by private equity firm KKR & Co. India has seen fewer IPOs in the last few years because of volatile markets ...