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News on Medial
Pepperfry puts IPO plans on hold, to focus on growth revival
Economic Times
·
1y ago
Medial
Indian furniture retailer Pepperfry has delayed its initial public offering (IPO) plans, opting to focus on growth and profitability instead. The company, which had aimed to raise $250-300m through the IPO, is now looking to achieve steady revenue growth. In the fiscal year ending March 2023, Pepperfry saw a marginal increase in revenue to INR2.72bn ($36.5m) compared to INR2.47bn in the previous year. The company's net loss for FY23 was INR1.88bn, down from INR1.94bn in FY22. Pepperfry plans to expand its home decor offerings and launch more private-label brands.
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Furniture retailer Pepperfry raises Rs 43 crore from existing investors
Economic Times
·
2m ago
Medial
Pepperfry, an omnichannel furniture and home goods company, raised Rs 43.3 crore from existing investors, including Norwest Venture Partners and Goldman Sachs. General Electric Pension Trust led with Rs 21.5 crore. The company issued 5.6 lakh convertible preference shares privately. Previously, it raised $23 million in 2022. Initially planning an IPO to raise $250–300 million, Pepperfry postponed it to focus on growth and profitability. In FY24, it reported a revenue decline but narrowed losses.
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Pepperfry to ramp up frachise-led expansion, says CEO Ashish Shah
Livemint
·
1y ago
Medial
Pepperfry, the online-offline furniture retailer, plans to focus on franchise partners in smaller cities to control costs and achieve profitability. The company, which operates over 180 stores, is also reassessing its plans for an IPO due to uncertain markets. CEO Ashish Shah stated that customer demand has improved recently, prompting hopes for a recovery. Pepperfry aims to open 50 new franchise-operated stores in non-metros over the next nine months. Currently, both online and offline channels contribute equally to sales, but the company expects offline sales to increase with the expansion of its store network.
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Pepperfry planning to sell company amid flatlining sales: Report
Inshorts
·
10m ago
Medial
Pepperfry has appointed an investment banker to explore plans to sell the company as sales continue to slow down, Moneycontrol reported. The furniture retailer is looking for a potential buyer or a strategic acquisition, the report added. This comes after Pepperfry postponed its plans to launch an IPO amid rising losses.
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Figma set to debut as blockbuster US IPO lifts revival hopes - The Economic Times
Economic Times
·
8d ago
Medial
Figma, a design software firm, debuted in a significant US IPO, securing a $19.34 billion valuation, slightly below the $20 billion expected from a previously canceled Adobe acquisition. Priced at $33 per share, Figma raised $1.22 billion, signaling a revival in the IPO market. Backed by major investors like Sequoia Capital, Figma's focus on integrating AI into design workflows positions it among high-growth tech companies, attracting strong investor interest.
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SEBI puts SK Finance's Rs 2,200 Cr IPO in abeyance
YourStory
·
1y ago
Medial
The Securities and Exchange Board of India (SEBI) has put on hold the initial public offering (IPO) of non-bank lender SK Finance, which specializes in vehicle finance and business loans. SEBI did not provide a reason for the decision. The IPO consisted of a fresh issue of equity shares worth INR 500 crore ($67.5 million) and an offer for sale (OFS) of up to INR 1,700 crore by promoters and investor shareholders. SK Finance planned to utilize the proceeds for onward lending and general corporate purposes. The company operates in the vehicle financing and Micro, Small and Medium Enterprises (MSME) financing segments.
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Startup IPOs Of 2024: TAC Infosec, Awfis Give Biggest Returns To Investors Among 10 Listings
Inc42
·
11m ago
Medial
India's IPO market has seen a strong revival this year, with new-age tech startups leading the way. However, these startups have opted for modest IPO valuations and smaller sizes, learning from past mistakes. Investors are advised to focus on a company's fundamentals rather than getting caught up in high valuations. India accounted for over 27% of global IPOs in the first half of 2024, with 38 mainboard IPOs compared to 11 in the same period last year.
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Pepperfry struggles to scale in FY23 but reduces losses
Entrackr
·
1y ago
Medial
During the fiscal year ending in March 2023, online furniture brand Pepperfry experienced modest growth but managed to reduce losses. Its revenue from operations increased to Rs 272 crore from Rs 247 crore in FY22. The majority of the revenue came from the commission on goods sold through its marketplace and offline stores. Pepperfry's advertising and promotion costs decreased, and it enlisted Saif Ali Khan and Kareena Kapoor Khan as brand ambassadors. Despite its struggles, the company aims to achieve profitability and consistent growth before considering an IPO.
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ETtech State of Startups survey predicts revival in private funding, more IPOs in 2025
Economic Times
·
7m ago
Medial
Indian startups are anticipating a revival in private funding and increased IPO activity by 2025, according to ETtech's State of Startups survey. Around 60% of respondents expect more private financing, while over 70% foresee a surge in tech IPOs. The positive outlook follows two years of subdued market conditions. Startups are focusing on profitability and efficiency, with many seeking IPOs to escape constant funding rounds. Corporate governance is also a major focus for sustaining investor trust.
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AI chip startup FuriosaAI rejects Meta’s $800 million offer
Economic Times
·
4m ago
Medial
Korean startup FuriosaAI declined an $800 million acquisition offer from Meta, opting for independent growth. The decision impacts investor DSC Investment's shares, which fell after initial takeover rumors. FuriosaAI, led by June Paik, focuses on AI chips challenging Nvidia's market hold. Meta seeks to advance its AI infrastructure in competition with tech giants. FuriosaAI plans a funding round and future IPO, providing chip samples to clients like LG AI Research and Saudi Aramco.
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SEBI clears Northern Arc for IPO while putting SK Finance on hold
VCCircle
·
1y ago
Medial
Northern Arc Capital has been given the green light by SEBI for its initial public offering (IPO), while the IPO plans of SK Finance have been put on hold by the regulator. Northern Arc Capital is a non-banking financing company with investors including Leapfrog, Eight Roads, and 360 One. The approval from SEBI allows Northern Arc Capital to move forward with its IPO plans. However, SK Finance, another private equity-backed NBFC, will have to wait for further clarification from the regulator.
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