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News on Medial
Swiggy’s Sriharsha Majety, Investors Sold Shares Worth INR 670 Cr Ahead Of IPO
Inc42
·
10m ago
Medial
Days before Swiggy filed its updated draft red herring prospectus (DRHP), founder Sriharsha Majety and investors sold shares worth INR 670 Cr. Majety sold shares to Torroz Fintech for INR 23 Cr, while Torroz also purchased shares from Norwest Ventures for INR 200 Cr. Additionally, Strootaay Unlisted Brokers bought shares from Elevation Capital for INR 439.12 Cr. Torroz Fintech specializes in private market investments and was founded by directors of 4Sight Global Ventures in 2022.
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Urban Company Founders, Early Investors Offload Shares Ahead of IPO
OutlookIndia
·
3m ago
Medial
Urban Company's founders have sold shares worth Rs 779 crore in secondary transactions to existing investors as the company prepares for its IPO. Cofounders Abhiraj Bhal, Varun Khaitan, and Raghav Chandra sold Rs 259 crore in shares each, retaining a 6.67% stake individually. Investors like Prosus Ventures and Swiggy cofounder Sriharsha Majety purchased these shares. Additionally, early backers like Accel India and Tiger Global have offloaded shares ahead of Urban Company's public listing.
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Swiggy's top executives get ₹2,240 crore in ESOPs ahead of IPO
Inshorts
·
10m ago
Medial
Swiggy has awarded employee stock options (ESOPs) worth $270 million (₹2,240 crore) to its top executives ahead of IPO, reports said. CEO Sriharsha Majety, who previously owned 6.23% of Swiggy, has been given an additional 2.3% stake. Co-founders Nandan Reddy and Phani Kishan Addepalli, food marketplace CEO Rohit Kapoor, and Instamart CEO Amitesh Jha have also been awarded new shares.
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IPO-Bound Swiggy Facing INR 327 Cr GST Demand
Inc42
·
10m ago
Medial
Swiggy, an Indian food delivery platform, may have to pay INR 326.7 Cr in Goods and Services Tax (GST) liabilities. The Directorate General of GST Intelligence (DGGI) in Pune has alleged that Swiggy did not pay the tax on delivery fees collected from customers. In addition, the company's CEO, Sriharsha Majety, was sent a notice last year by the Deputy Labour Commissioner in Lucknow over accusations of employing child laborers. Swiggy is planning an initial public offering (IPO) that includes a fresh issuance of shares worth up to INR 3,750 Cr and an offer for sale (OFS) component of up to 18.53 Cr shares.
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Swiggy's Majety, Reddy to sell shares in ESOP liquidity plan: Report
Money Control
·
1y ago
Medial
Swiggy Co-founders Sriharsha Majety and Nandan Reddy will be selling some shares in the startup's upcoming ESOP liquidity program worth about ₹540 crore, Moneycontrol reported. While Swiggy usually opts for buybacks, shares sold in the upcoming program are available to all willing buyers. Swiggy has reportedly previously enabled ₹1,000 crore of ESOPs liquidity over the past five events.
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Digit IPO: Insurtech Raises INR 1,176 Cr From Anchor Investors
Inc42
·
1y ago
Medial
Insurtech company Go Digit General Insurance (Digit) has raised INR 1,176.6 Cr ($158.7m) from its anchor investors ahead of its IPO, which is set to raise a total of INR 2,614.6 Cr ($352.7m). The IPO includes a fresh issue of shares worth INR 1,125 Cr ($151.6m) and an offer for sale (OFS) of 5.47 Cr ($737k) shares. The IPO is scheduled to open on 15 May and close on 17 May, with Digit planning to list on the BSE and NSE on 23 May.
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Unicommerce IPO: SoftBank Backed Startup Raises Over INR 124 Cr From Anchor Investors
Inc42
·
1y ago
Medial
SaaS startup Unicommerce has raised INR 124.4 Cr from 14 anchor investors ahead of its IPO opening on August 6. The IPO consists of only an Offer For Sale (OFS) component of 2.56 Cr equity shares. The startup allocated 1.15 Cr equity shares to anchor investors at INR 108 apiece, with various mutual funds being the major beneficiaries.
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March Capital Offloads CarTrade Shares Worth Over INR 70 Cr In Bulk Deals
Inc42
·
1y ago
Medial
March Capital, a pre-IPO shareholder of CarTrade Technologies, offloaded around 950,000 shares of the company in bulk deals worth over INR 70 crore. Spritefield Venture International sold 632,000 shares, while MCP3 SPV sold 316,000 shares. CarTrade's shares fell 2.8% despite ICICI Prudential Mutual Fund purchasing 677,000 shares in bulk deals. In its Q3 FY24 report, CarTrade reported a net loss of INR 23.5 crore, primarily due to the closure of the OLX business division. However, the operating revenue increased by over 42% to INR 138.6 crore.
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IPO-bound FirstCry's CEO Supam Maheshwari offloads shares worth Rs 300 crore: Report
Economic Times
·
1y ago
Medial
The CEO of FirstCry, Supam Maheshwari, has reportedly sold shares worth INR 300 crores ($40 million) ahead of the company's IPO. FirstCry is a leading Indian baby products retailer that is planning to go public. Maheshwari co-founded the company in 2010 and has since grown it into a unicorn startup. The IPO is expected to value FirstCry at around INR 46,000 crores ($6.2 billion).
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Motilal Oswal MF Dumps 2.8 Cr Zomato Shares; Societe Generale, Goldman Sachs, Others Buy
Inc42
·
1y ago
Medial
Motilal Oswal Mutual Fund sold 2.8 crore shares of foodtech major Zomato in a block deal worth INR 645.8 crore. This move came as Zomato's stock price saw a significant surge. The shares sold by the mutual fund were purchased by institutional investors such as Axis Mutual Fund, Citigroup, Goldman Sachs, and Societe Generale, with the latter buying the highest number of shares for INR 289.7 crore.
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Swiggy Business Model & Growth Strategy
growthxclub
·
11m ago
Medial
Amidst the bustling streets of Bangalore, Sriharsha Majety and Nandan Reddy founded Swiggy, setting out to revolutionise India's food delivery landscape, starting with just 6 delivery executives and 25 restaurants. Fast forward to now, Swiggy is valued at $15.1 billion. Dive in for some amazing insights on Swiggy’s innovative business model.
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