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News on Medial
PayNearby plans to go public next year, says CEO - The Economic Times
Economic Times
·
2d ago
Medial
Indian fintech firm PayNearby plans to launch an initial public offering in the next financial year to fund expansion, according to CEO Anand Kumar Bajaj. Unlike industry giants Paytm, PhonePe, and BharatPe, which dominate payments and lending, PayNearby leverages a network of local retailers to deliver digital services. The company aims to increase its retailer network by 500,000 over two years and hire approximately 550-600 employees by the end of the current fiscal year.
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Pramerica Life Insurance targeting 30% CAGR for next two years, says CEO
Money Control
·
10m ago
Medial
- Pramerica Life Insurance aims for a compound annual growth rate (CAGR) of 30% in the next two years. - The insurer witnessed a robust growth of 58% in new business premiums in the previous fiscal year. - Pramerica plans to launch new products and focus on digital growth in the current fiscal year. - The insurer is looking to expand its bancassurance business through partnerships with cooperative banks, small finance banks, and private banks. - Pramerica Life Insurance has no immediate plans to go public, as it is well-capitalized and aims to focus on building scale and profitability in the next couple of years.
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Telegram founder says the company will become profitable next year
TechCrunch
·
1y ago
Medial
Telegram founder Pavel Durov has revealed that the chat app is currently making "hundreds of millions of dollars" through ads and subscriptions. The company, which crossed 900 million users, expects to achieve profitability next year and has plans to go public in the future. Telegram launched a Premium subscription two years ago, and has also introduced ad solutions for channels. The company aims to expand its ad offerings globally this year and is open to smaller equity investment. Additionally, Telegram has explored blockchain-based projects and plans to invest in AI for customer service.
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Honor Tech eyes IPO in four years, says MD Madhav Sheth
Economic Times
·
1y ago
Medial
Smartphone brand Honor Tech plans to go public with an IPO within the next four years to expand manufacturing operations and retail presence in India. The company aims to achieve profitability and increase its market share. Honor Tech recently launched its second smartphone in India, focusing on the budget segment while prioritizing durability. The company is in talks with local manufacturers to produce Honor phones in India from the next fiscal year, ensuring quality remains uncompromised. Honor Tech is anticipating a decline in 4G smartphone demand this year, with brands seeking to build affordable 5G devices.
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Amazon-backed More Retail plans IPO next year
VCCircle
·
4m ago
Medial
Amazon-backed More Retail plans to go public next year, seeking to double its store count within five years as consumer preference shifts toward supermarkets and online grocery shopping. Currently operating 775 stores, More reported gross sales of about $580.11 million in fiscal 2025, up 11% from the previous year. The company is expanding its collaboration with Amazon Fresh and plans to introduce slotted deliveries to further fuel its growth.
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The Hive Hostels secures $1.4 mn in pre-IPO fundraise
VCCircle
·
12m ago
Medial
The Hive Hostels, a student accommodation provider in India, has raised approximately $1.4 million in its first external funding round. The company plans to use the funds to develop luxury student residences under the brand name Aurus. The Hive Hostels is expected to go public in the second half of next year.
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India’s Wow Momo takes cues from Domino’s for IPO in two years
Livemint
·
11m ago
Medial
Indian fast-food chain Wow Momo Foods is planning to go public within the next two years, as it aims to replicate the rapid expansion of Domino’s Pizza in India. With a valuation of 25 billion rupees ($299.33 million) and a network of 650 stores, Wow Momo wants to become the first major local fast-food chain to go public. The company reported revenue of nearly 4.8 billion rupees for the fiscal year ending in March and aims to double it to 10 billion rupees over the next 30 months. Wow Momo plans to increase its store count to 1,000 and become profitable within two years.
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Peak XV-backed healthcare AI startup Qure.AI aiming for IPO in two years, CEO says
VCCircle
·
3m 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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GoMechanic eyes over 3-fold biz growth to Rs 700 cr by 2027 before launching IPO
YourStory
·
8m ago
Medial
Car services and repair platform GoMechanic aims to increase its market share from 3% to 10% in the next three years. CEO Himanshu Arora expects the company to generate approximately Rs 700 crore in revenue by 2027 and plans to go for public listing thereafter. GoMechanic also plans to expand into the two-wheeler and electric vehicle services segment and increase its garage count from 800 to 2,500 across 500 cities by 2027. The company posted a revenue of Rs 210 crore in the financial year 2023-24 and expects to reach Rs 432 crore in gross merchandise value this financial year. GoMechanic is currently EBIDTA positive and aims to be profitable after tax (PAT) by 2027.
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Nearly half of MSMEs polled prefer UPI for business transactions, says report - The Economic Times
Economic Times
·
1m ago
Medial
The MSME Digital Index Report by PayNearby reveals that nearly half of micro, small, and medium enterprises (MSMEs) prefer UPI for business transactions, with Aadhaar-enabled banking being the second choice. Among women entrepreneurs, Aadhaar banking is even more favored. The report, based on a survey of 10,000 individuals and MSMEs, highlights increased digital adoption, improved operational efficiency, and rising use of smartphones as primary business tools, showcasing MSMEs' modernization efforts.
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Razorpay To Shift Base To India By Year End; Eyes IPO In Next Two Years
Inc42
·
1y ago
Medial
Digital payments major Razorpay has announced plans to shift its headquarters from the US to India by the end of 2024. The company is in the process of seeking regulatory approval in both countries to facilitate the move. The decision is in line with Razorpay's plans to go public in the next two years. CEO Harshil Mathur stated that the shift is not solely focused on profits for the IPO but also forms a key part of the company's long-term plans. Razorpay has also partnered with Google and Open AI to enhance its payments and payroll business with AI-powered solutions.
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