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News on Medial
International business steers FirstCry’s growth ahead of IPO
The Arc Web
·
1y ago
Medial
Pune-based retailer FirstCry is expanding in the Middle East to drive growth and improve profit margins. The company distinguishes itself with physical stores, consumer brands under subsidiary GlobalBees, and a focus on international markets. Revenues reached INR 5,632 crore in FY2023, with contributions from UAE, Saudi Arabia, and GlobalBees. However, investments in these ventures resulted in losses of INR 486 crore in FY2023. FirstCry aims to secure $218 million through its IPO to further expand its retail presence and pursue acquisitions.
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FirstCry CEO's monthly earnings halved to INR 8.6 Cr
Inc42
·
1y ago
Medial
IPO-bound Firstcry’s cofounder and chief executive officer Supam Maheshwari’s monthly remuneration declined 49% to INR 8.6 Cr in the first three quarters of FY24 from INR 16.7 Cr in FY23. For comparison, Maheshwari received an annual remuneration of INR 200.7 Cr in the financial year ended March 31, 2023.
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FirstCry to focus on profitability, cash flow; will invest in Middle East biz to raise Ebitda
Economic Times
·
1y ago
Medial
Indian children's wear retailer FirstCry, operated by Brainbees Solutions, is prioritizing profitability and cash flow management following its IPO. The company plans to focus its investments on its international business in the Middle East, particularly in Saudi Arabia, to create an impact on its operating earnings. FirstCry aims to tap into the significant growth potential of the childcare sector in the UAE and Saudi Arabia, driven by higher birth rates compared to other countries. The company's IPO proceeds will be used for international expansion, including the establishment of new stores and warehouses in Saudi Arabia.
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Razorpay bets on offline, overseas business ahead of IPO
Livemint
·
11m ago
Medial
Payment aggregator Razorpay is prioritizing its offline and international business ahead of its upcoming IPO. The company aims to tap into the larger Indian offline payments market, as well as expand its presence in Southeast Asia and the Middle East. Razorpay expects offline payments to constitute about 30% of its revenue in the next three years, up from 15% currently. The company is also focusing on real-time payments in emerging markets like Malaysia and plans to leverage its success in India to replicate that in other countries.
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LinkedIn wants a piece of Wordle's success
TechCrunch
·
1y ago
Medial
In this week's episode of Equity, the hosts discuss the upcoming end of the earnings season and look ahead to what's in store for the first quarter. They also touch on some recent funding news and IPO updates. Tune in to get all the latest insights and analysis on the business of startups.
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In a Conservative Pitch to Investors, Afcons says focus on high-margin EPC biz
Livemint
·
1y ago
Medial
Shapoorji Pallonji Group's subsidiary, Afcons, is taking a conservative approach ahead of its upcoming IPO. The company, which specializes in high-margin engineering, procurement, and construction (EPC) projects, has seen steady revenue growth and healthy cash flows by focusing on technologically complex projects with low competition. Unlike its peers, Afcons will not diversify into other industries but is open to diversification within the EPC sector. With an order book of INR 32,556 crore ($4.36 billion) and a significant portion of government contracts, the company sees ample business opportunities in the infrastructure EPC segment. Afcons plans to raise INR 7,000 crore ($938 million) through the IPO, with a portion allocated for debt repayment and working capital.
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Payments firm Klarna files for IPO, showing 24% revenue jump
Economic Times
·
4m ago
Medial
Klarna Group Plc, a digital payments company, has filed for a US IPO, aiming to raise at least $1 billion and targeting a valuation of over $15 billion. The Stockholm-based firm reported a 24% revenue increase last year and reduced its net loss significantly. Klarna, known for its "buy now, pay later" services, has refocused its business strategy, shedding some operations and strengthening partnerships with companies like Google and Apple ahead of the IPO.
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‘Very little activity on the ground,’ says Bhavish Aggarwal on Uber
Livemint
·
1y ago
Medial
Ola CEO Bhavish Aggarwal responded to Uber CEO Dara Khosrowshahi's comments about Indian consumers, stating that Ola is ahead in the ride-sharing business in India. Aggarwal highlighted Ola's higher ride-sharing revenues compared to Uber and claimed that Uber is just talking without much activity on the ground. Meanwhile, Uber's Indian entity reported a rise in operating revenue but reduced losses in FY22. Ola Electric is also preparing for its IPO, although challenges such as competition and government policies may impact its future growth.
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India to overtake Japan as World's fourth largest economy in 2025: IMF predicts.
Business Today
·
3m ago
Medial
India is projected to overtake Japan as the world's fourth-largest economy by 2025, with the International Monetary Fund (IMF) forecasting India's nominal GDP to reach $4.187 trillion, slightly ahead of Japan's $4.186 trillion. This change highlights India's rapid economic growth, which has consistently surpassed that of other major economies. In 2025, the IMF forecasts a 6.3% real-term growth for India, a slight decrease from a previous estimate of 6.5%.
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TPG-backed Shadowfax acquires logistics firm as Swiss family office exits
VCCircle
·
6m ago
Medial
Shadowfax, a logistics company backed by TPG and NewQuest, has acquired another logistics service provider, leading to the exit of the target firm's Swiss family office investor. Ahead of a proposed initial public offering (IPO), Shadowfax is currently in discussions to secure a new round of funding. This strategic acquisition aligns with Shadowfax's growth plans as it strengthens its market presence and focuses on expanding its logistical capabilities, particularly in the context of its upcoming IPO.
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Ahead of IPO, Ellenbarrie Industrial Gases raises Rs 256 crore from anchor investors
Economic Times
·
1m ago
Medial
Ellenbarrie Industrial Gases raised Rs 256 crore from anchor investors ahead of its IPO, which opens from June 24-26. The IPO, priced between Rs 380-400 per share, aims to gather Rs 852 crore. It includes a fresh issue of Rs 400 crore and an offer for sale of 1.13 crore shares. The funds will be used to pay debts and establish a new unit. The company's revenue rose 16% in FY25, with significant profit growth.
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