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Unicommerce files RHP as it gears up for IPO launch on Aug 6

EntrackrEntrackr · 11m ago
Unicommerce files RHP as it gears up for IPO launch on Aug 6
Medial

E-commerce SaaS platform Unicommerce has filed its red herring prospectus (RHP), and is all set to launch its IPO on August 6, becoming the third SoftBank-backed company after Ola Electric and FirstCry to open IPO during the first week of August. Unicommerce had filed its DRHP in January this year and got approval from market regulator Security Exchange Board of India (SEBI) earlier this month. The company proposed to raise funds through an offer for sale (OFS) of up to 2,98,40,486 equity shares. The firm will not have fresh issues for the proposed IPO. AceVector Limited (formerly known as Snapdeal Limited) along with SB Investment Holdings (UK) Limited will participate in the OFS. While AceVector will sell up to 9,438,272 equity shares, SB Investment will sell up to 16,170,240 equity shares of face value Re 1 each. Importantly, AceVector’s co-founders, Kunal Bahl and Rohit Bansal, won’t be selling any shares in the OFS. This is probably the only IPO from the internet sector where the founders/promoters aren’t selling any shares. AceVector Limited holds a 34.91% stake in Unicommerce followed by SoftBank and B2 Capital Partners which command 29.09% and 9.91%, respectively. Madhuri Madhusudan Kela (1.65%), Dilip Vellodi (3.44%) and Anchorage Capital (7.73%) also command significant stakes in the company. For the fiscal year ending in March 2024, Unicommerce reported Rs 103.5 crore in operating revenue against Rs 90 crore in FY23. The company’s profits surged more than two fold to Rs 13 crore in FY24 from Rs 6.4 crore in the previous fiscal year.

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Ather Energy files RHP to raise Rs 2,626 Cr via fresh issue

EntrackrEntrackr · 2m ago
Ather Energy files RHP to raise Rs 2,626 Cr via fresh issue
Medial

Ather Energy files RHP to raise Rs 2,626 Cr via fresh issue Electric two-wheeler maker Ather Energy has filed its Red Herring Prospectus (RHP) with market regulator SEBI for its proposed Initial Public Offering (IPO). The offer comprises a fresh issue of equity shares worth Rs 2,626 crore and an Offer for Sale (OFS) of up to 1.1 crore equity shares by existing shareholders, including the company’s founders and early investors. Promoters Tarun Mehta and Swapnil Jain will each offload up to 9.8 lakh shares. Other selling shareholders in the OFS include Tiger Global, Caladium Investment (GIC), National Investment and Infrastructure Fund II, and seed investors such as IITM Incubation Cell and IITMS Rural Technology. The company has appointed Axis Capital, HSBC, JM Financial, and Nomura as the Book Running Lead Managers. The issue is being launched under Regulation 6(2) of SEBI's ICDR regulations, as Ather does not meet the profitability norms required for a mainboard listing under Regulation 6(1). Founded in 2013, Ather sells high-performance electric scooters, including the popular 450X. The IPO represents a pivotal moment for India’s electric vehicle (EV) sector and could bolster investor confidence in clean mobility ventures. The issue opens on April 28, 2025, and closes on April 30, 2025, with the anchor book opening on April 25. Shares will be listed on both BSE and NSE, with NSE serving as the designated stock exchange. According to the RHP, Hero MotoCorp is the largest shareholder in Ather Energy, holding 38.19% of the company. It is followed by Caladium Investment (GIC) with a 15.43% stake. The National Investment and Infrastructure Fund (NIIF) and Tiger Global hold 14.22% and 6.56%, respectively. Ather’s co-founders, Mehta and Jain, each hold 6.81%. Despite being Ather’s debut on public markets, the company has flagged the inherent risks associated with new listings in its RHP. Proceeds from the fresh issue will be used for business expansion, product development, and debt reduction. Meanwhile, Ola Electric, the first EV startup to go public, has witnessed a sharp decline, losing nearly 66% of its market capitalization from its peak valuation. In the first nine months of FY25, the company sold 1,08,000 vehicles, generating revenue of Rs 1,578.9 crore. However, it posted a loss of Rs 579.6 crore during the same period. For the full fiscal year ending March 2024, the company reported revenue of Rs 1,753 crore with a loss of Rs 1062 crore.

Funding and acquisitions in Indian startup this week [29 Jul - 3 Aug]

EntrackrEntrackr · 11m ago
Funding and acquisitions in Indian startup this week [29 Jul - 3 Aug]
Medial

During the week, equivalent to 32 Indian startups raised around $341 million in funding. These deals count 6 growth-stage deals and 22 early-stage deals while 4 early-stage startups kept their transaction details undisclosed. During the previous week, 22 early and growth-stage startups cumulatively raised $113.39 million in funding. [Growth-stage deals] Among the growth-stage deals, 6 startups raised $216.8 million in funding this week. Mobility startup Rapido spearheaded with its $120 million worth of unicorn round. Fintech firm Navi, NBFC Clix Capital, Trade financing startup Vayana Network, fintech firm BharatPe, and sportstech company KheloMore followed with $38 million, $26.3 million, $20.5 million, $10 million, and $2 million in funding, respectively. [Early-stage deals] Further, 22 early-stage startups secured funding worth $124.24 million during the week. Renewable energy services company BluPine led the list followed by EV startups Simple Energy and Kinetic Green while wedding services company Meragi, and a platform for sourcing and manufacturing of specialty chemicals Scimplifyare are next on the list. As many as 4 startups did not disclose the funding amount raised are; BoldFit, Game Theory, Cogniquest, and Vitra.ai. For more information, visit TheKredible. [City and segment-wise deals] In terms of the city-wise number of funding deals, Bengaluru-based startups led with 16 deals followed by Delhi-NCR, Mumbai, Jaipur, Pune, Bicholim, and Surat. Segment-wise, Fintech startups grabbed the top spot with 6 deals. SaaS, AI, E-commerce, and EV startups followed this list among others. [Series-wise deals] During the week, Series A funding deals are on top with 11 deals each followed by 7 pre-Series A, 5 Seed, 2 pre-Seed, and 2 Debt deals. Angel, Series B, Series C, Series D, and Series E are next on the list. [Week-on-week funding trend] On a weekly basis, startup funding surged 200% to $341.04 million as compared to around $113.39 million raised during the previous week. The average funding in the last eight weeks stands at around $316.78 million with 29 deals per week. [Fund launches] Trifecta Capital, known for its investments in companies like Atomberg, BigBasket, and BlueStone, has launched its fourth fund with a potential corpus of Rs 2,500 crores. Gemba Capital is also expanding its portfolio with a second fund of up to Rs 250 crore. [Key hirings and departures] Hero Vired, the Hero Group’s online education platform, has appointed Prakhar Kasar as its new CEO. CoinDCX has elevated Mridul Gupta to the role of founding partner. Meanwhile, e-commerce firm Meesho has strengthened its board with the addition of four independent directors: Hari S Bhartia, founder of Jubilant Bhartia Group; Kalpana Morparia, former JP Morgan Chairman; Rohit Bhagat, non-executive Chairman of PhonePe; and Surojit Chatterjee, a former Flipkart executive. While, Prashant Sinha, co-founder and chief revenue officer of Metadome.ai, announced his exit from the company. [Mergers and Acquisitions] Infibeam Avenues, a financial services company, acquired a majority stake in Rediff.com. Additionally, SaveDesk, another financial services company, acquired a majority stake in the Bengaluru-based fintech startup Fairexpay. Nazara Technologies, a gaming company, acquired the intellectual property rights of the popular mobile game “Ultimate Teen Patti”. [Shutdowns] Apollo Tyres faced a short-lived run with its doorstep car service initiative, Trumigo. Launched just six months ago, the service was discontinued due to a lack of customer traction and competition from established businesses in the market. Meanwhile, CarTrade, after acquiring OLX India’s business last year, decided to streamline its operations. The company will be shutting down its used car retail segment (C2B) to focus on the core classifieds business (Olx.in). [Potential deals] Raise Financial Services, the parent company of stock trading platform Dhan, is in talks to raise around $100 million in a new funding round. This investment is expected to propel the company’s valuation to between $1.2 billion and $1.5 billion, securing its unicorn status. Another fintech player, M2P Fintech, is on the verge of closing a $80 million funding round, which will value the company at $900 million. Visit TheKredible to see series-wise deals along with amount breakup, complete details of fund launches, and more insights. [New launches] Delhivery to launch dark stores for e-commerce players Zomato to launch District app for dining out, events, ticketing biz [Financial results this week] Delhivery turns profitable with Rs 52 Cr PAT in Q1 FY25 Infibeam Avenue reports 43% growth in PAT in Q1 FY25 Zomato crosses $25 Bn market cap with Rs 253 Cr profits in Q1 FY25 Freshworks cuts losses by 14% in Q2; eyes $713 Mn revenue in CY24 CarTrade revenue and profit slip in Q1 FY25; shuts down used car retail biz Ideaforge’s profits dwindle 89% in Q1 FY25 Ixigo records 78% quarterly growth in PAT in Q1 FY25 Auxilo’s profit jumps 2.5X in FY24; revenue grows double Ola Electric reports Rs 5,010 Cr revenue in FY24 FirstCry FY24 revenue crosses Rs 6,500 Cr; GlobalBees contributes 18.6% [News flash this week] Unicommerce and FirstCry files RHP as it gears up for IPO launch on Aug 6 PhysicsWallah launches Rs 250 Cr Scholarship Fund for JEE/NEET aspirants InsuranceDekho secures composite broking license Byju’s, BCCI settle payment dispute MapMyIndia accuses Ola Electric of copying data; Aggarwal calls them ‘Opportunist’ MCA imposed penalty on Zerodha AMC and Nithin Kamath for delay In appointing CFO Avanse Financial Services refiles DRHP to SEBI for Rs 3,500 Cr IPO Infra.Market and Fractal are next in line to file DRHP soon [Conclusion] After a dip in funding, the weekly funding again rose up nearly 3X to $341 million across 32 deals. The week saw two VC fund launches namely Gemba Capital and Trifecta Capital. Logistics platform Delhivery plans to establish a network of multi-tenant dark stores to facilitate rapid in-city deliveries for e-commerce businesses. This move, coupled with their focus on shortening delivery times to 2-4 hours, aims to enhance the overall customer experience. Meanwhile, foodtech platform Zomato is diversifying its portfolio. It has introduced a new app called ‘District’, dedicated to its “going-out” business. This app will encompass dining, movie ticketing, and event bookings, expanding Zomato’s reach beyond food delivery. The Indian IPO market is witnessing a surge in activity with multiple companies gearing up for their public debuts. E-commerce SaaS platforms Unicommerce and BrainBees Solutions, the parent company of FirstCry, are set to launch their IPOs on August 6th. Avanse Financial Services has refiled its IPO papers after addressing regulatory concerns, while Infra.Market is exploring investment banks for its public listing. Adding to the pipeline, SaaS unicorn Fractal is planning to file its DRHP soon. Byju’s has reached a settlement with the BCCI. The edtech giant has agreed to pay a Rs 158 crore debt to the cricket board in installments by August 9th. This comes after the BCCI initiated insolvency proceedings against Byju’s due to non-payment. While the settlement offers temporary relief to the embattled company, the NCLAT has imposed conditions to ensure the funds are not misappropriated. MapMyIndia has sent a legal notice to Ola Electric alleging that the latter copied its data after launching its own mapping service. Ola Electric had previously used MapMyIndia’s services for its electric scooters. Ola Electric’s founder, Bhavish Aggarwal, has dismissed the allegations as opportunistic.

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