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News on Medial
Payments firm Klarna files for IPO, showing 24% revenue jump
Economic Times
·
7m 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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Klarna set to price much-awaited US IPO in boost to fintech hopefuls - The Economic Times
Economic Times
·
1m ago
Medial
Klarna, the Swedish buy-now, pay-later firm, plans to price its U.S. IPO aiming to raise $1.27 billion. Valuated at about $14 billion, Klarna seeks to capitalize on strong investor interest despite previous setbacks from tariff issues. The company, facing profitability challenges, continues to grow its user base amidst stable demand for alternative payment solutions. Klarna will list on the New York Stock Exchange under the symbol "KLAR."
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Zomato, Temasek-Backed Shiprocket Pre-Files for IPO with Sebi
StartupTalky
·
5m ago
Medial
Shiprocket, backed by Zomato and Temasek, has confidentially filed for an IPO with Sebi, aiming to raise INR 2,000-2,500 crore. Established in 2012, Shiprocket serves over 100,000 sellers in India and focuses on rapid commerce, cross-border shipping, and digital payments. Despite a net loss of INR 595 crore in FY24 due to acquisitions, it reported INR 1,316 crore in revenue, reflecting a 21% increase. The firm is collaborating with Swiggy Instamart and Zepto for stock management.
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General Atlantic mulls Rubicon IPO; Airtel Eyes Vodafone's Indus Stake
VCCircle
·
1y ago
Medial
Private equity firm General Atlantic is considering an initial public offering (IPO) for its majority-owned portfolio company, Rubicon Research Pvt Ltd. The firm has been discussing potential options for the IPO with investment banks. In other news, Airtel is reportedly showing interest in acquiring Vodafone's stake in Indus, a telecommunications infrastructure firm.
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Prime Cable Industries IPO: GMP, price band among key things to know before subscribing
Economic Times
·
1m ago
Medial
Prime Cable Industries is launching an IPO from September 22 to 24, aiming to raise Rs 40 crore through fresh equity and an offer-for-sale. The price band is set at Rs 78–83 per share with shares listing on the NSE SME platform on September 29. The company, manufacturing ISI-marked cables, reported significant growth with a revenue jump to Rs 141.1 crore in FY25. Proceeds will fund capital expenditures, loan repayment, and working capital.
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Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO
Entrackr
·
28d ago
Medial
Infra.Market files confidential DRHP with SEBI for Rs 5,000 Cr IPO Building materials unicorn Infra.Market has filed a confidential Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to raise Rs 5,000 crore through an initial public offering (IPO), according to sources aware of the development. The proposed issue is expected to be a mix of fresh equity shares and offer-for-sale (OFS) by existing investors, in almost equal proportion. The Bengaluru-based firm has taken advantage of SEBI’s confidential filing mechanism, introduced last year, which allows companies to keep sensitive financial and strategic details under wraps until closer to listing. Infra.Market’s move comes just weeks after it raised $83 million in a Series G round led by Silverline Homes, with participation from Tiger Global, Accel, Nexus Ventures, NK Squared, and Evolvence India. Earlier in June, the Bengaluru-based company also secured $150 million in debt funding from Mars Growth Capital. On the financial front, Infra.Market reported a 23% year-on-year jump in revenue to Rs 14,530 crore in FY24, while its profit surged 2.4X to Rs 378 crore. The FY25 numbers are yet to be disclosed. The firm operates in a competitive space with OfBusiness, Zetwerk, and Moglix. OfBusiness clocked Rs 19,296 crore in revenue in FY24, while Zetwerk and Moglix posted Rs 14,436 crore and Rs 4,964 crore, respectively. By opting for the confidential filing route introduced by SEBI last year, Infra.Market joins the likes of PhonePe, Meesho, Shadowfax, PhysicsWallah, Groww, Shiprocket, boAt, and Aequs, which have kept their draft filings under wraps until closer to listing.
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Swiggy’s FY23 revenue grows 45% to Rs 8,265 crore; net loss stands at Rs. 4179 crore.
Economic Times
·
1y ago
Medial
Food and grocery-delivery firm Swiggy reported a 45% jump in operating revenue for fiscal year ended March 2023 to Rs 8,265 crore. However, its net loss expanded 15% to Rs 4,179 crore. Swiggy's expenses in FY23 totaled Rs 12,884 crore, up 34% from the previous year. Marketing expenses accounted for 28% of operating revenue, compared to 44% in FY22. Swiggy is implementing cost-cutting measures and aims to achieve profitability ahead of its planned IPO.
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SoftBank's PayPay files for US IPO, plans to raise $2 bn: Report
Economic Times
·
2m ago
Medial
SoftBank's PayPay Corp, a payments app operator, has filed for a U.S. initial public offering (IPO) of American depositary shares. Details on the listing's schedule, size, and pricing remain undecided, though the IPO could potentially raise over $2 billion and might occur by Q4 this year. PayPay, which promotes digital payments in Japan, will continue as a SoftBank subsidiary post-listing. This move aligns with SoftBank's broader strategy to list some of its holdings.
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Abakkus-backed mining and logistics firm files IPO papers
VCCircle
·
10m ago
Medial
Caliber Mining and Logistics, backed by asset manager Abakkus, has filed for an IPO to raise Rs 600 crore, consisting of Rs 500 crore in new shares and a Rs 100 crore offer-for-sale by the Chadda family. The firm will use the funds for debt repayment, capital expenditure, and other corporate purposes. With a significant presence in contract mining and logistics, the company has grown its market share and revenue significantly over recent years.
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Chinese robotaxi firm Pony AI files for US IPO
Economic Times
·
1y ago
Medial
China-based autonomous driving firm Pony AI, backed by automaker Toyota, has filed for an IPO in the U.S. The move reflects increased investor interest in new listings and a more favorable regulatory environment. Pony AI, in which Toyota owns a 13.4% stake, reported a revenue of $24.7 million in H1 2024, nearly double the previous year. However, establishing robotaxis still presents challenges, including safety and reliability concerns. The number of Chinese companies pursuing U.S. stock market flotations declined after Beijing restricted offshore capital-raising in 2021. Goldman Sachs, BofA Securities, Deutsche Bank, Huatai Securities, and Tiger Brokers are the underwriters for Pony AI's IPO.
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Klarna’s revenue per employee soars to nearly $1M thanks to AI efficiency push | TechCrunch
TechCrunch
·
5m ago
Medial
Klarna's strategic focus on AI integration boosted its revenue per employee to nearly $1 million, up from $575,000 last year. The company ended its Salesforce contract and reduced hiring, relying on AI for various operations. AI notably cut customer service costs by planning to replace 700 contractors with chatbots, though recently restored human agent options. Amid a 13% revenue increase to $701 million in Q1 2025, Klarna postponed its U.S. IPO due to market volatility.
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