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News on Medial
JSW One aims to become profitable this year, eyes IPO by FY28
Livemint
·
1m ago
Medial
JSW One Platforms, a B2B marketplace led by Sajjan Jindal, aims to break even this fiscal year and targets an IPO by FY28, according to CEO Gaurav Sachdeva. The company reached a gross merchandise value (GMV) of ₹12,500 crore in FY25 and aspires to hit ₹50,000 crore in the next three years. With plans to achieve a 1% profit margin, it could become a leading profitable e-commerce platform among conglomerate-led ventures.
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JSW Group eyes multiple global auto OEM alliances
Livemint
·
1y ago
Medial
Indian conglomerate JSW Group, headed by Sajjan Jindal, is reportedly considering forging multiple alliances with automobile original equipment manufacturers (OEMs) in India. JSW has already signed a share purchase agreement with Chinese state-owned SAIC, parent company of MG Motor India, to establish a joint venture (JV). The group is also said to be in talks with German automaker Volkswagen for a potential separate JV. JSW Group aims to become a common shareholder in both JVs. Volkswagen has been interested in partnering in India to strengthen its position in the Indian market.
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India's first unicorn InMobi has two IPOs on its menu now
Livemint
·
11m ago
Medial
InMobi's consumer tech unit, Glance, is expected to become profitable in the next fiscal year and may be listed separately thereafter. InMobi, India's first unicorn, plans to move its corporate headquarters from Singapore to India ahead of an IPO for its profitable ad tech business. Glance, which reaches 450 million smartphones, aims to reach one billion in the next three to four years. InMobi also plans to make larger acquisitions worth $500 million and above in the future. The company's core ad tech business has remained profitable, despite fluctuations due to the pandemic.
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Peak XV-backed healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
VCCircle
·
2m ago
Medial
Qure.AI, a healthcare AI startup founded in 2016 and backed by Peak XV Partners and Novo Holdings, plans to become profitable next financial year and aims for an initial public offering (IPO) in about two years, according to CEO Prashant Warier. The company provides AI diagnostic tools for early disease detection, serving around 15 million patients annually. It aims to expand its market presence, particularly in the U.S., contributing 25% to its revenue.
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Razorpay to shift domicile to India, eyes IPO in two years
Thehindubusinessline
·
1y ago
Medial
Indian fintech company Razorpay aims to achieve profitability across all its business divisions within the next two years. Once this goal is accomplished, the company plans to consider a public listing. Currently, Razorpay's online payments business is already breaking even, while its non-payment business is still incurring losses. The company aims to scale up and become profitable on all fronts before going public. Razorpay is planning for a domestic listing in India and is in the process of shifting its domicile back to the country by FY25.
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Swiggy Changes Its Registered Name Ahead Of IPO
Inc42
·
1y ago
Medial
Swiggy, the Indian food delivery giant, is changing its registered name from Bundl Technologies Private Limited to Swiggy Private Limited, ahead of its planned IPO later this year. The name change aims to establish better identification with Swiggy's core brand. However, the name change is subject to the approval of the Registrar of Companies. The IPO, expected to be one of the largest for a tech company, is anticipated to have a size of $1 billion. Swiggy's rival, Zomato, has reported three consecutive profitable quarters in the current financial year.
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JSW Paints to Snap Up AkzoNobel India Stake in $1.1 Billion Deal
StartupTalky
·
2m ago
Medial
JSW Paints plans to acquire a 74.76% stake in AkzoNobel India from its Dutch parent company for $1.1 billion, valuing the Indian unit at about INR 12,000-12,200 crore. The acquisition aims to boost JSW Paints' market position in industrial and decorative paints in India. JSW will finance the deal through promoter equity and bank loans, with completion expected by mid-June. This move positions JSW for potential growth and an IPO, despite AkzoNobel India's recent challenges.
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JSW Steel eyes acquisition of 20% stake in Australian coal mine
Money Control
·
1y ago
Medial
Indian steel company JSW Steel is reportedly in talks to acquire a 20% stake in the Blackwater coal mine in Australia, owned by Whitehaven Coal. The deal is estimated to be worth between $750 million and $1 billion. The Blackwater mine is one of the largest open-cut metallurgical coal producers in Australia's Bowen Basin. JSW Steel has been actively seeking to secure its coking coal supply and increase its production capacity. Other interested parties in the Blackwater mine include the AvidSys Group and Japanese trading houses Itotchu, Marubeni, and Sojitz.
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Niyo Solutions eyes profitability in 2024, IPO in 2025
Livemint
·
1y ago
Medial
Digital-only bank Niyo Solutions Inc. is aiming to become profitable this year and plans to list its shares on stock exchanges in 2025. The Indian neobank is looking to raise funds to expand its travel-banking business and make acquisitions in the foreign exchange and lending segments. Niyo has already ventured into the travel-banking segment with its Niyo Global card, which offers zero foreign exchange charges. The company is also exploring partnerships with Indian banks and working with the National Payments Corporation of India to enable QR code payments for merchants and facilitate UPI-based international payments.
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Paytm wins another fan. Jefferies screams buy with target price of Rs 1,300
Economic Times
·
1y ago
Medial
Jefferies has initiated coverage on Paytm with a buy rating and a target price of Rs 1,300, confident that the company will become one of the large profitable fintechs globally in the next four quarters. Paytm's stock has rallied around 80% this year, and Jefferies analysts expect the company to achieve strong growth, double-digit EBITDA margins, and stable profitability. They estimate a target price of Rs 1,300 based on DCF valuation methodology and growth assumptions. Paytm's revenues have tripled in the past two years, and the company is expected to turn profitable by 3QFY25 and generate sustained growth in accounting profits thereafter.
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JSW Cement promises expansion spree to double capacity but says no to buyouts
Livemint
·
4d ago
Medial
JSW Cement plans to double its production capacity to 42 million tonnes within four years by using IPO proceeds and group synergies, according to managing director Parth Jindal. The company aims to leverage access to slag from JSW Steel to produce cost-effective GGBS cement. This expansion targets a greater presence in central and northern India, with the goal of increasing its market share from the current 3% to 10% in India’s competitive cement industry.
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