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Etailer Flipkart offloads Rs 2,400 crore investments to focus on core and IPO - The Economic Times

Economic Times

Economic Times · 1d ago

Etailer Flipkart offloads Rs 2,400 crore investments to focus on core and IPO - The Economic Times

Flipkart, majority-owned by Walmart, sold stakes in several companies, including Aditya Birla Lifestyle Brands and Blackbuck, worth over Rs 2,408.7 crore. The move is part of a strategy to focus on its core business and prepare for an IPO in 2026. Flipkart aims to enhance its fashion portfolio and capture Gen Z shoppers, while also emphasizing profitability as it gears up for the public market debut. Revenue growth remains subdued amid a retail slowdown.

Related News

Flipkart group companies cut FY25 losses as Myntra stays on profit track - The Economic Times

Economic Times

Economic Times · 12d ago

Flipkart group companies cut FY25 losses as Myntra stays on profit track - The Economic Times

Flipkart has reduced losses across its group companies in FY25 by cutting expenses, as revenue growth was modest due to a slowdown in online retail. Myntra, the fashion and beauty platform, significantly increased profits. Flipkart’s core marketplace Flipkart Internet, Ekart Logistics, and Cleartrip narrowed losses despite spending. As Flipkart prepares for a 2026 IPO, it faces pressure to improve profitability, while new investments may impact short-term profits.

Shadowfax files confidential prospectus for its IPO - The Economic Times

Economic Times

Economic Times · 3m ago

Shadowfax files confidential prospectus for its IPO - The Economic Times

Shadowfax, a hyperlocal logistics company backed by Flipkart, has filed a confidential draft red herring prospectus for its IPO, aiming to raise Rs 2,000-2,500 crore, with about half in primary shares. This strategic filing allows Shadowfax to gauge investor interest and refine its IPO plans. The company, which reported Rs 1,885 crore in operating revenue for fiscal year 2024, plans to use the funds to enhance quick-delivery services, noting improved business economics and increasing market traction.

QRG Investments offloads Awfis’ shares worth Rs 22 Cr

Entrackr

Entrackr · 14d ago

QRG Investments offloads Awfis’ shares worth Rs 22 Cr

Snippets QRG Investments offloads Awfis’ shares worth Rs 22 Cr QRG Investments and Holdings Limited has sold 3,67,408 shares of Awfis at a price of Rs 591.17 per share aggregating to Rs 21.94 crore in a bulk deal. QRG Investments and Holdings Limited, the promoter holding arm of QRG Group and a key shareholder in Havells India, operates as a mid-tier NBFC. It manages a diverse portfolio that includes startup investments, listed stocks, venture debt, structured credit, REITs/InvITs, and private businesses across sectors such as healthcare, EVs, and pharmaceuticals. Awfis on its Annual General Meeting yesterday reappointed Rajesh Kharabanda as Non-Executive Director who retires by rotation. Awfis’ revenue from operations grew 30% year-on-year to Rs 335 crore in Q1 FY26 from Rs 258 crore in the same quarter last year. The company’s profit surged 3.5X to Rs 10 crore in Q1 FY26, from Rs 2.8 crore in Q1 FY25 in the same period. Awfis’ stock is trading at Rs 577 (as of 10:40 AM) with a total market capitalization of Rs 4,131 crore.

Flipkart's exits; Dassault's India expansion

Economic Times

Economic Times · 1d ago

Flipkart's exits; Dassault's India expansion

Flipkart has divested stakes worth over Rs 2,408.7 crore in various startups, including Aditya Birla Lifestyle Brands and Blackbuck, to concentrate on its core business and an upcoming 2026 IPO. Meanwhile, Dassault Systèmes is expanding in India with significant investments, aiming to reach $1 billion in revenue by 2030. On the corporate results side, Tata Consultancy Services (TCS) reported a 1.4% increase in net profit for Q2, aligning with structural workforce adjustments.

LEAP India files DRHP with Sebi for Rs 2,400 crore IPO

Economic Times

Economic Times · 1m ago

LEAP India files DRHP with Sebi for Rs 2,400 crore IPO

LEAP India, a supply chain asset pooling company, has filed a Draft Red Herring Prospectus with SEBI to initiate an IPO aimed at raising Rs 2,400 crore. The IPO, with a face value of Rs 1, includes a fresh issue of Rs 400 crore and an offer for sale of Rs 2,000 crore. The company plans to use Rs 300 crore from the fresh issuance to repay borrowings and fund working capital needs.

swiggy: Rapido to pick up $500 million as Swiggy ends ride - The Economic Times

Economic Times

Economic Times · 17d ago

swiggy: Rapido to pick up $500 million as Swiggy ends ride - The Economic Times

On Tuesday, Swiggy informed the stock exchanges that it is offloading its 11.8% holding in Rapido to Prosus and WestBridge Capital for about $270 million (Rs 2,400 crore). Prosus and WestBridge Capital are existing investors in Rapido. Prosus is also Swiggy’s largest shareholder, holding about 23% stake, while WestBridge Capital is Rapido’s biggest stakeholder with about 19% share.

Uber not a holding company: CEO Dara Khosrowshahi on why he sold Zomato stake - The Economic Times

Economic Times

Economic Times · 1m ago

Uber not a holding company: CEO Dara Khosrowshahi on why he sold Zomato stake - The Economic Times

Uber CEO Dara Khosrowshahi discussed Uber's strategic focus on its core mobility business and India's critical market position, revealing the country ranks third in mobility trips for Uber. He highlighted Ola's decline due to distractions and identified Rapido as a key competitor. Uber's decision to sell its Zomato stake was due to its focus on core competencies, rather than investments. Khosrowshahi emphasized maintaining focus on mobility amidst rising competition in India.

MapmyIndia to invest Rs 25 crore in Zepto - The Economic Times

Economic Times

Economic Times · 2m ago

MapmyIndia to invest Rs 25 crore in Zepto - The Economic Times

MapmyIndia, a digital mapping company, plans to invest Rs 25 crore in Zepto, a quick commerce startup, acquiring a 0.049% stake. This investment is part of Zepto's efforts to increase its Indian ownership by an additional 8-10% before filing for an IPO. Previously, Elcid Investments acquired a stake in Zepto for Rs 7.5 crore. The transactions aim to enhance Indian shareholder presence and prepare Zepto's cap table for its planned public listing.

PixelSky Capital raises Rs 150 crore in first close, targets Rs 400-crore corpus - The Economic Times

Economic Times

Economic Times · 1m ago

PixelSky Capital raises Rs 150 crore in first close, targets Rs 400-crore corpus - The Economic Times

PixelSky Capital, supported by IndigoEdge and Hitesh Ahuja, has raised Rs 150 crore in its first funding round, aiming for a Rs 400-crore total. The fund has invested in startups like Purplle and Porter. It focuses on secondary investments in late-stage companies valued between $300 million and $1.5 billion. PixelSky seeks additional investments and intends to consider IPO opportunities for select companies by 2026 or 2027. Sponsors include reputed family offices and notable individuals.

Elevation Partners offloads 21.5 lakh shares in Ixigo parent for Rs 38.3 crore

Economic Times

Economic Times · 4m ago

Elevation Partners offloads 21.5 lakh shares in Ixigo parent for Rs 38.3 crore

Elevation Capital sold 21.5 lakh shares in Ixigo's parent company, Le Travenues Technology, for Rs 38.27 crore at Rs 178 each, retaining a 13% stake. The firm had previously invested Rs 63.1 crore in Ixigo and sold shares worth Rs 100 crore before IPO, and about Rs 181 crore during the IPO's OFS. Ixigo's net profit grew 128% YoY, with operating revenue rising 72% to Rs 284 crore.

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