Ola, a mobility platform, has announced that Temasek and Plum Wood Investment Ltd, an affiliate of Warburg Pincus, a global private equity fund focused on growth investing, are partnering with Ola founder Bhavish Aggarwal for a $500M investment ahead of Ola’s IPO. The platform said in a statement, “This is amongst the largest investments in…
Aima Technology, a Chinese e-bike manufacturer, announced its Initial Public Offering (IPO) on the Shanghai Stock Exchange (SSE). The value of the firm’s share rose to the exchange’s maximum allowed daily limit on the first day of trading, according to a statement. The statement added, “Aima’s listing on China’s A-share market further cements the company’s…
Zomato has announced that it has promoted Akriti Chopra as co-founder ahead of its IPO, according to an email shared by Deepinder Goyal, founder. She started her journey with Zomato in the Finance team where she was responsible for setting up and scaling finance processes for Zomato’s global operations. She has also worked on multiple…
Logistics and supply chain startup based in India Delhivery has raised $277 million ahead of planned IPO. With this funding, the supply chain services company is now valued at $3 billion. The funding round was led by Boston-based investment platform Fidelity. The new round also saw participation from GIC- a sovereign wealth fund, Chimera, and…
Car Trade Tech Limited, multi-channel auto platforms which operate under several brands: CarWale, CarTrade, Shriram Automall, BikeWale, CarTrade Exchange, Adroit Auto and AutoBiz, has filed its papers with the regulator to raise approx. 2000 cr as per market sources. As stated in the DRHP, the Initial Public Offering an Offer of Sale of up to…
Flipkart has reshuffled its board as it prepares to go public in the upcoming years. The Walmart-owned company has added Flipkart Group CEO Kalyan Krishnamurthy along with HDFC CEO and Vice Chairman Keki Mistry to the board. Walmart directors – Suresh Kumar, global CTO & Chief Development Officer with Leigh Hopkins, Executive Vice President of…
SoftBank-backed startup, Delhivery has secured $25 million from Steadview Capital, ahead of planned IPO. The investment firm has purchased secondary shares from an early investor of the logistics firm. Founder and CEO of Delhivery – Sahil Barua believes that the funds raised from Steadview will help the company to go public in the coming twelve…
CureVac, a leading clinical stage biotechnology company in the field of messenger RNA and one of Germany’s leading contenders to develop a COVID-19 vaccine, said it aims to raise up to $245 million in an initial public offering (IPO) on the US Nasdaq, according to Reuters. The biotech firm said it plans to offer a…
Softbank-backed fintech unicorn Lemonade recently announced that it has filed for an Initial Public Offering on the New York Stock Exchange (NSE) for an indeterminate amount. The company estimates that it will be able to raise $100mn. Several venture capitalists have estimated that the company is worth $2.1bn currently in valuation. The company says it’s…
Chinese internet giant Tencent Holdings Ltd is reportedly in talks to invest $200mn in Warner Music Group. The recent development from Tencent comes just days ahead of the record company’s slated initial public offering. According to a Wall Street Journal report, Warner Music is also working to line up institutions that, along with Tencent, would…
It doesn’t seem that their troubles are getting over soon. In the past few months, OYO has managed to gather a different spotlight on itself with a New York Times report on its toxic work-culture, IT raids at their Gurugram headquarters and death of a sportsperson in one of their properties last year. Adding to troubles, came the firing of thousands of its employees from China and India business.
Former Uber CEO Travis Kalanick is resigning from the board of directors, severing ties with the ride-hailing company that he co-founded a decade ago and ran until a series of scandals led to his downfall. The departure, announced Tuesday, did not come as a surprise. Kalanick recently sold more than $2.5 billion worth of stock…
Airtel Africa, Bharti Airtel’s African business unit has appointed eight global banks to work on an intended initial public offering (IPO). The banks appointed are J.P. Morgan, Citigroup, BofA Merrill Lynch, Absa Group Limited, Barclays Bank PLC, BNP Paribas, Goldman Sachs International, and Standard Bank Group, it said in an exchange filing. Earlier this month, Airtel…