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EaseMyTrip appoints new CTO and CMO; approves Rs 514 Cr preferential issue

EntrackrEntrackr · 5d ago
EaseMyTrip appoints new CTO and CMO; approves Rs 514 Cr preferential issue
Medial

EaseMyTrip appoints new CTO and CMO; approves Rs 514 Cr preferential issue Online travel platform EaseMyTrip has announced key leadership changes along with a major fundraise approved by its board. The company has appointed Sankalp Kaul as Chief Technology Officer (CTO), replacing Naimish Sinha, who resigned due to personal reasons. Kaul brings over 18 years of experience in driving digital transformation, ERP integrations, and large-scale technology programmes across the travel and tech sectors. The board also approved the appointment of Manmeet Ahluwalia as Chief Marketing Officer (CMO). With more than 20 years of experience, Ahluwalia has led brand-building and digital-growth strategies, including steering Expedia’s India market entry and scaling operations across regions. Meanwhile, the EaseMyTrip board has approved the issuance of 55.93 crore fully paid-up equity shares worth Rs 514.06 crore on a preferential basis. The shares will be allotted for consideration other than cash, subject to shareholder and regulatory approvals. The issue will be made to seven non-promoter investors including Ashish Begwani, Sunil Jain, Dhankalash Distributors, Divyank Singhal, Levo Beauty, SSL Nirvana Grand Golf Developers, and Javaphile Hospitality. These changes follow earlier leadership reshuffles when co-founder Prashant Pitti stepped down as Managing Director in August 2025 to focus on mentoring startups and other ventures, while Nishant Pitti took over as Chairman and Managing Director and Vikas Bansal became whole-time Director.

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EaseMyTrip expands into real estate, hospitality, and lifestyle with Rs 514 Cr of stake purchases

EntrackrEntrackr · 5d ago
EaseMyTrip expands into real estate, hospitality, and lifestyle with Rs 514 Cr of stake purchases
Medial

EaseMyTrip expands into real estate, hospitality, and lifestyle with Rs 514 Cr of stake purchases. Online travel platform EaseMyTrip has announced five back-to-back investment deals worth Rs 514 crore, marking its biggest diversification push beyond travel and ticketing, as per the regulatory filings. The company will fully acquire AB Finance Private Limited, while picking up minority stakes in Three Falcons Notting Hill, Javaphile Hospitality, Levo Beauty, and SSL Nirvana Grand Golf Developers. All transactions will be executed through a share swap, with EaseMyTrip issuing new equity shares on a preferential basis instead of paying cash. According to the company’s filing, EaseMyTrip has entered into definitive agreements to acquire a 100% stake in AB Finance, 50% in Three Falcons, and 49% each in Javaphile, Levo, and Nirvana. The combined value of these investments stands at Rs 514 crore. The largest among the five deals is the Rs 194 crore acquisition of AB Finance. EaseMyTrip said the purchase will help augment its business expansion and operational requirements. In another key move, the company is investing Rs 175 crore to buy a 50% stake in Three Falcons, a London-based hospitality venture that runs the boutique hotel The Knight of Notting Hill. The remaining three deals involve smaller but strategic equity infusions. EaseMyTrip will invest Rs 19.6 crore in Javaphile Hospitality, which operates in the cafe and fine-dining space; Rs 24.5 crore in Levo Beauty, which runs salons, spas, and wellness centres in Gurugram; and Rs 100.5 crore in SSL Nirvana Grand Golf Developers, a real estate venture. EaseMyTrip said these deals are part of its plan to drive inorganic growth and portfolio diversification as it continues to build a broader ecosystem around travel, hospitality, and lifestyle experiences. All five transactions are subject to shareholder and regulatory approvals and are expected to be completed over the next three to four months.

Exclusive: Ecom Express board approves Rs 2,600 Cr IPO

EntrackrEntrackr · 1y ago
Exclusive: Ecom Express board approves Rs 2,600 Cr IPO
Medial

Logistics firm Ecom Express appears close to file draft red herring prospectus as it has received board’s approval for initial public offering worth Rs 2,600 crore via a mix of fresh issue and offer for sale. The board at Ecom Express has passed a special resolution to approve its initial public offer of equity shares amounting to Rs 2,600 crore, which consists of Rs 1,284 crore of fresh issue and Rs 1,316 crore offer for sale, according to the company’s internal documents accessed by Entrackr. As per media reports, the Gurugram-based company already appointed bankers including Kotak Capital, IIFL, Axis Capital, and UBS for the IPO. Ecom Express’ major investors Warburg Pincus and Partners Group are likely to take part in the OFS, said sources. As per data intelligence platform TheKredible, Warburg Pincus is the largest external stakeholder with 48.26% followed by Partners Ground and CDC Group. This is the second attempt by the 13 year-old-firm for public listing. In February 2022, it approved a fundraise of up to Rs 4,860 crore via a public issue of shares. However, the firm put a hold on its IPO plan then. Meanwhile, Ecom Express is also raising Rs 1,424 crore (approximately $172 million) from existing investors via right issue. Since its inception, it has scooped up more than $250 million through equity and debt. Ecom Express claims to provide logistics services in over 2,700 towns and 27,000 pin codes in India. It employs over 50,000 people, and has more than 3,000 facility centers across the country. For the fiscal year ending in March 2023, Ecom Express’ revenue from operations increased by 21.9% to Rs 2,548 crore from Rs 2,090 crore in FY22. The company’s losses rose by 4X to Rs 375 crore in FY23 from Rs 91 crore in the previous fiscal year. It is yet to file its FY24 numbers. Ecom Express will be the second Indian startup from the logistics ecosystem that will be listed on the stock exchange. Its competitor Delhivery went public in May 2022. Flipkart-backed Shadowfax is also planning to raise up to Rs 3,000 crore through public listing.

Swiggy board approves Rs 10,000 Cr fundraise

EntrackrEntrackr · 2d ago
Swiggy board approves Rs 10,000 Cr fundraise
Medial

url: https://entrackr.com/news/swiggy-board-approves-rs-10000-cr-fundraise-10636718 Content: Swiggy board approves Rs 10,000 Cr fundraise. The fundraise comes as Swiggy looks to strengthen its balance sheet and fuel growth across its core food delivery business and its quick-commerce arm, Instamart. Swiggy Limited, the food delivery and quick commerce company, has received board approval to raise up to Rs 10,000 crore ($1.13 billion) through a public or private offering, including a qualified institutional placement (QIP) or other permissible routes. The company’s board approved the proposal on November 7, 2025, according to a regulatory filing. Swiggy plans to issue equity shares in one or more tranches to eligible investors, subject to shareholder approval at an upcoming extraordinary general meeting. The fundraise comes as Swiggy looks to strengthen its balance sheet and fuel growth across its core food delivery business and its quick-commerce arm, Instamart. The move also aligns with the broader trend of listed new-age firms tapping capital markets to bolster their financial position and expansion plans. Recently, Swiggy reported that its losses widened 74% year-on-year to Rs 1,092 crore in Q2 FY26, while Instamart’s revenue doubled during the same period. The company’s operating revenue surged 23% to Rs 3,760 crore in the quarter, driven by higher order frequency and quick-commerce traction. Meanwhile, the Bengaluru-based company also exited Rapido, securing Rs 2,399.5 crore and yielding over a 2.5X return on its investment made less than four years ago. Swiggy’s proposed capital raise follows rival Zomato’s Rs 8,500 crore QIP in late last year, to strengthen its balance sheet and support its food delivery and quick-commerce verticals.

Ecom Express DRHP: Partners Group to sell stake worth Rs 931 Cr

EntrackrEntrackr · 1y ago
Ecom Express DRHP: Partners Group to sell stake worth Rs 931 Cr
Medial

Logistics firm Ecom Express has filed its draft red herring prospectus (DRHP) with the Security Exchange Board of India (SEBI) for an initial public offering (IPO). The DRHP has come just after days of an Entrackr report about the firm’s board giving a nod for the IPO. The firm has proposed to raise RS 2,600 crore in IPO, through a fresh issue of equity shares aggregating up to Rs 1,284.5 crore and an offer for sale (OFS) of up to Rs 1,315.5 crore worth equity shares. Partners Group will be offloading shares worth up to Rs 931 crore, while Warburg Pincus and BII (formerly CDC Group) will sell shares worth Rs 211 crore and Rs 137 crore, respectively, during the offer for sale. As per the time of filing, Partners Group is the largest stakeholder with 49.76% followed by Warburg Pincus and BII (British International Investment ) which hold 27.13% and 10.03%, respectively. As per the DRHP, IIFL Securities Limited, Axis Capital, Kotak Investment, and UBS Securities India are the book-running lead managers of the issue. This is the second attempt by the 13 year-old-firm for public listing. In February 2022, it approved a fundraise of up to Rs 4,860 crore via a public issue of shares. However, the firm put a hold on its IPO plan then. Meanwhile, Ecom Express is also raising Rs 1,424 crore (approximately $172 million) from existing investors via right issue. Since its inception, it has scooped up more than $250 million through equity and debt. Ecom Express provides logistics services in over 2,700 towns and 27,000 pin codes in India. The firm delivered 514 million shipments in 2024 while its competitor Delhivery did 740 million during the same period. Importantly, out of 514 million shipments handled in FY24, Tier 2 cities accounted for 81.79% of the shipments while Metro and Tier 1 cities were at 10.52% and 7.69% respectively. The logistics firm reported flat revenue in the last fiscal year, but the firm managed to cut costs drastically. It posted a modest 2.1% increase in its revenue to Rs 2,609 crore in FY24 as compared to Rs 2,554 crore in FY23. Its losses shrank by 40% to Rs 256 crore in the same period.

Bluestone board approves Rs 1,000 Cr IPO, CEO invests Rs 75 Cr

EntrackrEntrackr · 11m ago
Bluestone board approves Rs 1,000 Cr IPO, CEO invests Rs 75 Cr
Medial

Omnichannel jewellery retailer Bluestone appears close to filing a draft red herring prospectus (DRHP) as it has received the board’s approval for an initial public offering worth Rs 1,000 crore ($120 million) through a mix of fresh issues and offers for sale. According to company filings accessed by Entrackr, the board at Bluestone has passed a special resolution to approve its initial public offer of equity shares amounting to Rs 1,000 crore. The equity shares are proposed to be listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE). The utilization of the fresh proceeds to be raised via the IPO will be disclosed in the offer documents, the filings added. Bluestone has also passed a resolution to issue 13,00,000 equity shares to Gaurav Singh Kushwaha, the founder and CEO of the company, to raise Rs 75 crore ($9 million). The fresh investment by Kushwaha is aimed at meeting the minimum capital requirement for promoter shareholders, as mandated by the Issue of Capital and Disclosure Requirements (ICDR) regulations. As of now, Kushwaha’s aggregate shareholding, eligible for computing the minimum promoter contribution requirement for the company’s proposed IPO, stands at 9.15%, according to the filings. In September, Bluestone initiated its pre-IPO round worth Rs 900 crore. According to sources, Bluestone plans to price its IPO shares between Rs 550 -600 each. Data from TheKredible indicates that the company's post-money valuation reached approximately Rs 7,750 crore (around $922 million) excluding ESOP, following its latest private funding round. During the previous fiscal year (FY24), Bluestone reported a 64% year-on-year growth in revenue, reaching Rs 1,266 crore from Rs 771 crore in FY23. Simultaneously, the company managed to reduce its losses by 15%, bringing them down to Rs 142 crore in FY24. Titan-owned CaratLane, a competitor to BlueStone, reported revenue of Rs 3,081 crore in the last fiscal year (FY24). The company remained profitable during the year; however, its profit saw a slight decline, dropping to Rs 79 crore in FY24 from Rs 82 crore in FY23.

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