🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
Login

News on Medial

Exclusive: FabHotels gears up for IPO, converts into public company

EntrackrEntrackr · 4m ago
Exclusive: FabHotels gears up for IPO, converts into public company
Medial

Exclusive: FabHotels gears up for IPO, converts into public company Hospitality chain FabHotels changed its status and converted itself into a public company. The board has passed a resolution and approved its conversion, a move that might signal its preparation for a public listing. FabHotels’ parent company, Travelstack Tech Private Limited (formerly Casa2 Stays Pvt Ltd), has passed a resolution to rename the entity as Travelstack Tech Limited by removing the word “Private,” according to its filing with the Registrar of Companies (RoC). Founded in 2014 by Vaibhav Aggarwal and Adarsh Manpuria, Gurugram-based FabHotels is a hotel chain operating over 1,300 properties across more than 50 major Indian cities, including Mumbai, the National Capital Region, Bengaluru, and Goa. According to startup data platform TheKredible, the company has raised around $68 million to date from investors including Accel and Goldman Sachs. Its most recent funding was a $20 million round led by Panthera Partners in September 2023. In FY25, the Accel-backed company’s revenue increased over 20% to Rs 716 crore in FY25, with narrowing losses by 45% to Rs 62.7 crore compared to Rs 114 crore in FY24. FabHotels competes directly with Treebo and Bloom Hotels. While both are yet to file their FY25 numbers, Treebo crossed Rs 100 crore in revenue in FY24, whereas Bloom Hotels saw a 73.6% rise in operating revenue to Rs 250 crore and posted a profit of Rs 14 crore.

Related News

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO

EntrackrEntrackr · 1y ago
Exclusive: Shiprocket converts to public entity ahead of 2025 IPO
Medial

Exclusive: Shiprocket converts to public entity ahead of 2025 IPO Logistics and supply chain enabler Shiprocket is gearing up for a definitive initial public offering (IPO) plan in 2025, taking its first major step toward public listing by converting it into a public entity. The board at Shiprocket has approved a resolution to change its status to a public company and rename it from “Shiprocket Private Limited” to “Shiprocket Limited”, as per its regulatory filing. The conversion into the public entity has come a month after raising $26 million in its Series E round led by KDT Ventures, with participation from MUFG Bank, Tribe Capital, and SAI Global. The company will likely raise more capital in its pre-IPO round. Shiprocket reportedly plans to raise between Rs 2,000-2,500 crore through its IPO, which will include both primary components and an offer for sale (OFS). According to media reports, the company has enlisted Axis Capital, Kotak Mahindra, JM Financial, and BofA Securities as its investment bankers for the offering. Founded by Saahil Goel, Gautam Kapoor, and Vishesh Khurana, Shiprocket is a logistics and supply chain platform that enables businesses to streamline shipping through courier integration, real-time tracking, and automated solutions. Shiprocket has raised over $320 million to date and is valued at $1.21 billion. According to the startup data intelligence platform TheKredible, Bertelsmann Nederland B.V is the largest external stakeholder followed by Tribe. Zomato, Temasek, LightRock, and Paypal are other notable investors in Shiprocket. During the fiscal year ending March 2024, the company recorded a 21% year-on-year increase in revenue, reaching Rs 1,316 crore, while its losses stood at Rs 595 crore for the same period. It competes with Unicommerce which recently acquired Shipway, along with other players such as Shipyard.

Exclusive: Suniel Shetty-backed Klassroom converts into public company

EntrackrEntrackr · 4m ago
Exclusive: Suniel Shetty-backed Klassroom converts into public company
Medial

Snippets Exclusive: Suniel Shetty-backed Klassroom converts into public company Education OTT platform Klassroom Edutech has begun preparing for its initial public offering (IPO), joining the growing list of startups going public, after passing a resolution to convert into a public company. Klassroom’s board passed a special resolution to change the company’s status to a public company and rename it from “Fusion Klassroom Edutech Pvt Ltd” to “Fusion Klassroom Edutech Limited,” according to its filing with the Registrar of Companies (RoC). Founded in 2016 by Alka, Dhruv, and Dhumil Javeeri, Klassroom is an O2O (offline to online) tutoring platform for students from 6th to 12th grade, as well as IIT JEE, NEET, CA, and CS aspirants. The platform has over 200 offline partner centers across 600 cities and over 300,000 online learners. Earlier this year in January, the company secured undisclosed funding in a Pre-Series A funding round led by ah! Ventures, along with participation from LetsVenture. For the fiscal year ended March 2024, Klassroom’s operating revenue remained flat at Rs 4.6 crore, while the company turned profitable with a net profit of Rs 28.5 lakh.

Exclusive: Razorpay converts to public entity ahead of IPO plans

EntrackrEntrackr · 11m ago
Exclusive: Razorpay converts to public entity ahead of IPO plans
Medial

Exclusive: Razorpay converts to public entity ahead of IPO plans Fintech unicorn Razorpay has transitioned into a public limited company, moving closer to its planned initial public offering (IPO). While it has no immediate plans to go public, the Bengaluru-based firm—previously domiciled in the United States—is in the process of shifting its headquarters to India. “As part of our redomiciling to India, we’re initiating the process to become a public company well before our IPO in approximately two years, in order to align with best governance practices and build early readiness,” a company spokesperson said in response to Entrackr’s queries. Razorpay will join the likes of Paytm and MobiKwik, which have already gone public, while Pine Labs and PayU are also expected to list by the end of the ongoing fiscal year (FY26). As per media reports, the Bengaluru-based payments unicorn is targeting its IPO by 2026-27. The development comes two months after the Regional Director in Hyderabad approved the amalgamation of Razorpay Inc with Razorpay India. Razorpay provides easy and secure payment solutions tailored for local businesses. Its offerings include multi-currency transactions, real-time payments, and cost-effective cross-border solutions. In addition to India, the company has expanded its presence to Singapore and Malaysia. Razorpay has raised over $800 million across multiple funding rounds and was last valued at around $7 billion. In FY24, the company posted a revenue of Rs 2,068 crore with a profit of Rs 35 crore. It competes with players like Cashfree, which reported Rs 642 crore in revenue for the same period, and PayU, which recorded $444 million (approximately Rs 3,800 crore) in revenue during FY24.

FabHotels parent Travelstack Tech gets SEBI green light for IPO

EntrackrEntrackr · 17d ago
FabHotels parent Travelstack Tech gets SEBI green light for IPO
Medial

FabHotels parent Travelstack Tech gets SEBI green light for IPO Budget hospitality chain FabHotels has received approval from the Securities and Exchange Board of India (SEBI) to proceed with its initial public offering (IPO). The Bengaluru-based company joins the list of firms such as Leap India, Turtlemint, Molbio, and Infra.Market that have received the regulator’s green light for their IPOs. According to SEBI’s latest update, Travelstack Tech has secured the regulator’s observation letter, allowing the company to proceed with its proposed public issue. The Goldman Sachs-backed company had filed its draft red herring prospectus (DRHP) in December last year. As per the DRHP, the IPO will comprise a fresh issue of equity shares worth Rs 250 crore, along with an offer for sale (OFS) of up to 2.68 crore equity shares by existing shareholders. The OFS component will see partial stake sales by several early investors including Accel, Goldman Sachs, Qualcomm, and angel investor Anupam Mittal. Its founders Vaibhav Aggarwal and Adarsh Manpuria, are also expected to offload a portion of their holdings as part of the offer for sale. Through the fresh issue, the company plans to raise capital primarily for working capital requirements, repayment of certain borrowings, and general corporate purposes. The IPO will be managed by Motilal Oswal, IIFL Capital and Nuvama while MUFG Intime will act as registrar. As per the DRHP, Accel India is the largest external stakeholder with 21.75% followed by Qualcomm Asia which holds 8% stake. Meanwhile, Vaibhav Aggarwal owns 19.20% of the 12-year-old company. Founded in 2014 by Aggarwal and Adarsh Manpuria, FabHotels operates over 1,300 properties across more than 50 major Indian cities, including Mumbai, NCR, Bengaluru, and Goa. As per the DRHP, FabHotels reported operating revenue of Rs 400 crore in the first half of the ongoing fiscal year (H1 FY26) with net profits of Rs 32 crore during the six months period ending September 2025.

FabHotels’ parent files DRHP to raise Rs 250 Cr via fresh issue

EntrackrEntrackr · 3m ago
FabHotels’ parent files DRHP to raise Rs 250 Cr via fresh issue
Medial

FabHotels’ parent company Travelstack Tech Limited has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 250 crore through a fresh issue of shares. The public offer will also include an offer-for-sale (OFS) of 2.68 crore equity shares by its early backers including Accel India, Panthera Growth Fund, Anupam Mittal, Qualcomm, and XTO10X. According to the DRHP, Vaibhav Aggarwal will offload up to 35.82 lakh shares and Adarsh Manpuria will offload up to 17.91 lakh shares, while Anupam Mittal plans to sell 10.37 lakh shares. Other selling shareholders include Accel India, Panthera Growth Fund, Global Private Opportunities Partners and Qualcomm. The company will utilize the net proceedings from Fresh Issue for part-funding the working capital requirements, repayment of certain borrowings availed and general corporate purposes. Travelstack may also explore a pre-IPO placement of up to Rs 50 crore, which, if undertaken, will reduce the size of the public offer. As per the DRHP, Accel India is the largest external stakeholder with 21.75% followed by Qualcomm Asia which holds 8% stake in the company. Meanwhile, Vaibhav Aggarwal owns 19.20% of the company. Founded in 2014 by Aggarwal and Adarsh Manpuria, Gurugram-based FabHotels is a hotel chain operating over 1,300 properties across more than 50 major Indian cities, including Mumbai, NCR, Bengaluru, and Goa. Financially, FabHotels reported operating revenue of Rs 400 crore in the first half of the ongoing fiscal year (H1 FY26). Its net profit stood at Rs 32 crore during the same period. The IPO will be managed by Motilal Oswal, IIFL Capital and Nuvama while MUFG Intime will act as registrar.

Exclusive: Garuda Aerospace converts into public company

EntrackrEntrackr · 4m ago
Exclusive: Garuda Aerospace converts into public company
Medial

Exclusive: Garuda Aerospace converts into public company Drone technology startup Garuda Aerospace is set to convert into a public company after passing a resolution approving the move, a step that signals its preparation for a potential public listing. According to its filing with the Registrar of Companies (RoC), Garuda Aerospace’s board has passed a resolution to rename the entity as Garuda Aerospace Limited by removing the word “Private”. In line with regulatory requirements, the company has appointed Asha Vijayaraghavan, Mandakulathur Ramachandran Venkatesh, and Rithika Mohan as independent directors, while Vishnu Jayaprakash has been appointed as an additional director and Rithika Mohan has also been designated as a whole-time director. Founded in 2015, Garuda Aerospace is a drone-as-a-service startup that designs, manufactures, and customizes UAVs for uses such as deliveries, disaster management, and agriculture. The company operates India’s largest drone fleet with 400 drones and 500 pilots across 84 cities, offering 30 drone models and 50 related services. According to startup data intelligence platform TheKredible, Garuda Aerospace has raised approximately $44 million to date from investors such as Nagarajan Seyyadurai, Ocgrow Ventures, cricketer MS Dhoni and others. The company recently raised funding from the Narotam Sekhsaria Family Office to scale its manufacturing capacity from 8,000 drones a year to 12,000–15,000 units, and it plans to expand its export presence to 50 countries by year-end. For the fiscal year ended March 2025, the MS Dhoni-backed firm posted profit of Rs 17.5 crore while operating revenue grew 7.3% to Rs 118 crore from Rs 110 crore in FY24. Earlier this year, Garuda's CEO indicated the IPO would not occur in 2025 but the company is in the planning phase to expand manufacturing, research, and development.

Update: Startup hotel chains compared: Who leads on scale and profitability in India?

EntrackrEntrackr · 14d ago
Update: Startup hotel chains compared: Who leads on scale and profitability in India?
Medial

Startup hotel chains compared: Who leads on scale and profitability in India? A comparison with other startup hotel chains in the segment such as Treebo Hotels and Bloom Hotels highlights how the three players stack up in terms of scale, profitability, and cost structure. Budget hospitality chain FabHotels recently received approval from SEBI to proceed with its initial public offering (IPO). As the company prepares to tap the public markets, we take a look at startup hotel chains such as Treebo Hotels and Bloom Hotels on scale, profitability, and cost structure. However, FabHotels’ current model and revenue recognition approach make it not directly comparable with these peers. In terms of scale, FabHotels GTV stood at Rs 716 crore majorly from TravelPlus in FY25, while Bloom Hotels and Treebo reported an operating revenue of Rs 344 crore and Rs 128 crore during the same period. On the spending side, Bloom Hotels recorded the highest rent expenses at Rs 63 crore, whereas rent costs for Treebo Hotels stood at Rs 1 crore. With regards to employee benefit, FabHotels spent Rs 96 crore, followed by Bloom Hotels at Rs 86 crore and Treebo at Rs 71 crore. Treebo also reported the highest commission payouts at Rs 39 crore, compared to Rs 28 crore for FabHotels and Rs 21.5 crore for Bloom Hotels. Advertising expenses ranged between Rs 11 crore and Rs 28 crore across the companies. Overall, the total expense of FabHotels stood at Rs 730 crore, significantly higher than Bloom Hotels at Rs 337 crore while Treebo Hotels’ total expense stood at Rs 170 crore. In the first half of the ongoing fiscal year (H1 FY26), FabHotels reported operating revenue of Rs 400 crore with net profits of Rs 32 crore during the six-month period ending September 2025. On the bottom line, FabHotels reported a net loss of Rs 6.3 crore with an EBITDA loss of Rs 5 crore. Treebo Hotels recorded the steepest losses among the three, with a net loss of Rs 36 crore and EBITDA loss of Rs 35.2 crore. In contrast, Bloom Hotels emerged as the only profitable company with a net profit of Rs 15.2 crore while posting the highest EBITDA of Rs 61.5 crore in FY25. In terms of liquidity, FabHotels reported the highest current assets at Rs 191 crore, including Rs 95.5 crore in cash and bank balances. Bloom Hotels followed with current assets of Rs 119 crore, with Rs 29 crore in cash. Treebo reported Rs 30 crore in current assets, with Rs 9 crore in cash and bank balances.

Download the medial app to read full posts, comements and news.