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00:00 Indian startups going public
04:39 Sponsor segment
06:20 Flatheads founder launches new venture Aurm
07:32 Ixigo refiles IPO papers
09:00 OYO IPO Updates
10:12 PhysicsWallah profit declines by 91%
11:06 DOT is connecting startups with VCs in a shark tank style initiative
11:54 Funding news
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Indian startups going public:
1. Zomato. The company made 3,288 crore rupees in revenue in Q3 of FY24 while making 138 crore rupees in profits. That’s a significant jump from 2,848 crore rupees they earned in revenue in Q2 of FY24 and a profit of just 36 crore rupees.
2. MamaEarth. They’ve made a revenue of 488 crore rupees with a profit of 26 crore rupees in Q3 of FY24.
3. Delhivery is India’s largest integrated logistics platform. They’ve leveraged the growth of e-commerce to grow so fast. In the Q3 of FY24, Delhivery made a revenue of 2,194 crore rupees while also making 12 crore in profits.
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Flatheads founder launches new venture Aurm:
1. Last year, Ganesh sold Flatheads to a fashion brand Styched.
2. Now, he has launched his new startup called Aurm - which he has started with two former MyGate core team members - Suraj HS and Pratap Chandana.
3. Aurm, they are planning to provide state of the art security lockers to their customers.
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Ixigo refiles IPO papers:
1. Back in August 2021, online travel aggregator Ixigo had filed for an IPO to raise 1,600 crore rupees.
2. while the fresh issue portion consisted of 750 crore rupees, the remaining 850 crore rupees was part of the offer for sale portion of the IPO.
3. They had received SEBI’s approval in June 2023. But the company never went for an IPO. Now, they have refiled their DRHP
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OYO IPO Updates:
1. One ET article claims that OYO might be considering backing out of their IPO, there is another LiveMint report which claims that OYO wants to expedite their IPO.
2. OYO had filed for an IPO back in 2021 but their papers were returned by SEBI in January 2023 - asking them to submit them after making the required revisions and updates.
3. In fact, OYO did refile for the IPO - taking a confidential route - where they didn’t have to share details regarding the size of IPO planned.
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PhysicsWallah profit declines by 91%:
1. PhysicsWallah is the only profitable unicorn in India. In FY22, they made a profit of 98.2 crore which has declined more than 90% to just 8.9 crore rupees in FY23.
2. While their operating revenue increased from 233 crore rupees in FY22 to 779 crore rupees in FY23.
3. It was their employee cost that shot up 9X from just 42 crore rupees in FY22 to a massive 414 crore rupees in FY23.
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DOT is connecting startups with VCs in a shark tank style initiative:
1. The Department of Telecommunications (DOT) is helping startups developing next-gen technologies connect with VCs in a shark tank style initiatives.
2. 25 startups have pitched in front of 13 VCs.
3. The companies that seem to have pitched include the likes of QpiAI India, which is working in Quantum technology sector and we also have Menthosa Solutions, which builds autonomous drones and Webyfy, which offers IoT-enabled solutions.
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9 июн 2024
