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Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent

EntrackrEntrackr · 1y ago
Peak XV, others divest stake worth Rs 1,600 Cr in MamaEarth’s parent
Medial

Peak XV (formerly Sequoia Capital), along with Stellaris Ventures, Sofina Ventures, and Fireside Ventures, collectively sold shares worth Rs 1,600 crore ($190 million) in Honasa Consumer Limited, the parent company of the direct to consumer (D2C) skincare and beauty brand MamaEarth. The aforementioned investors sold 3.24 crore shares of MamaEarth at an average price of Rs 495.48 per share, according to the company’s bulk deal data accessed from the National Stock Exchange. Peak XV and its former entity Sequoia Capital Global Growth Fund III divested around Rs 753 crore ($90 million) worth of shares, while Sofina Ventures, Stellaris Ventures, and Fireside Ventures sold shares worth Rs 298 crore, Rs 225 crore, and Rs 326 crore, respectively, during the bulk deal. Importantly, ICICI Prudential Life and Morgan Stanley collectively purchased Rs 262 crore worth of shares in MamaEarth. According to Entrackr’s estimates, MamaEarth sold 10% of its shares in this single bulk deal. The firm’s total outstanding shares stood at 32.42 crore as of June 30, 2024. The sale of shares came at a time when the Gurugram-based firm reached its all-time high share price of Rs 547 on Tuesday this week. As per NSE data, MamaEarth’s overall market capitalization stood at Rs 16,046 crore ($1.91 billion) as of September 12. In the first quarter of the current fiscal year, the company reported a 17.6% quarter-on-quarter increase in revenue, reaching Rs 554 crore, up from Rs 471 crore in Q4 FY24. This marked the firm’s most profitable quarter, with Rs 40 crore in profit after tax (PAT). Peak XV’s recent exit portfolio includes companies like Blinkit, Zomato, Freshworks, Awfis, Ixigo, Go Fashion, MamaEarth, and others.

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

EntrackrEntrackr · 13d 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.

Swiggy board approves Rs 10,000 Cr fundraise

EntrackrEntrackr · 10d 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.

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