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OYO's parent PRISM files confidential papers with SEBI, eyes $7–8 Bn valuation

EntrackrEntrackr · 5d ago
OYO's parent PRISM files confidential papers with SEBI, eyes $7–8 Bn valuation
Medial

OYO's parent PRISM files confidential papers with SEBI, eyes $7–8 Bn valuation PRISM, the parent of OYO, has filed confidential draft IPO papers with the Securities and Exchange Board of India (SEBI), according to sources aware of the development. The filing follows shareholders’ approval at an Extraordinary General Meeting (EGM) held on December 20, where the company received consent to raise up to Rs 6,650 crore through a fresh issue of equity shares. The proposed public offering is expected to value the company in the range of $7–8 billion, people familiar with the matter said. The company had initially appointed ICICI Securities, Axis Capital, Goldman Sachs, and Citibank as book running lead managers for the proposed IPO and has since added more banks to the syndicate. PRISM first initiated the IPO process in 2021 and filed offer documents with SEBI, followed by a revised filing with updated financial and operational disclosures. The company later withdrew its IPO plans amid elevated global market volatility. Since then, the company has expanded its operations across India and international markets and added to its premium portfolio through brands such as SUNDAY Hotels and Palette. It has also strengthened its overseas presence through the acquisition of US-based G6 Hospitality, the economy lodging franchisor that operates Motel 6 and Studio 6. For the quarter ended June 2025 (Q1 FY26), the company reported a net profit of over Rs 200 crore and revenue of Rs 2,019 crore. The confidential filing route has gained traction among new-age companies. Firms that have used or explored this mechanism include PhonePe, Meesho, Swiggy, Groww, PhysicsWallah, Shadowfax, Shiprocket, boAt, Aequs, Infra.Market, InCred Holdings, Zepto, and Tata Play.

Meesho delivers 1.3 Bn orders during first 9 months of FY25

EntrackrEntrackr · 9m ago
Meesho delivers 1.3 Bn orders during first 9 months of FY25
Medial

Homegrown e-commerce platform Meesho has released its first annual report, highlighting strong growth driven by technology and AI. The company claims that it became the first horizontal e-commerce platform in India to achieve profitability in FY24, generating Rs 197 crore in free cash flow. Its adjusted losses dropped by 97% to Rs 53 crore (excluding employee share-based compensation). As of December 2024, Meesho reported 187 million annual transacting users—serving approximately 13% of India’s population, as per the report. Between April and December 2024, users placed 1.3 billion orders, cementing Meesho’s position as the most downloaded shopping app for the fourth consecutive year. The platform processes 67 trillion features daily and handles 500,000 user requests per second at peak load. Meesho’s logistics arm, Valmo, handled over 50% of its daily orders, covering 15,000 pin codes and creating 85,000 jobs. Supporting 400,000 sellers with a 0% commission model, Valmo has made online selling more accessible for SMEs. In February last year, Meesho announced the launch of Valmo, a full-fledged logistics marketplace that allows the network of micro-entrepreneurs to become Meesho partners and deliver orders in their nearby areas. Meesho also plans to go public later this year, aiming to raise around $1 billion at a $10 billion valuation, with JP Morgan potentially joining the IPO syndicate.

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