Link Copied

From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week

From Zomato’s IPO to Delhivery’s fundraise to Paytm’s DRHP — These were the biggest developments this week
  • Zomato’s IPO was oversubscribed by 38 times.
  • Paytm and Mobikwik have filed for their IPO.
  • FedEx made its first strategic investment in India.
The Indian startup ecosystem is going through a watershed moment, with the thirteen-year-old Zomato hitting the public market this week. The company’s shares were oversubscribed by a whopping 38 times, with investors pitching to buy 2,751 crore shares in the company.

Even before Zomato could close its public issue, there were two other startups that had formally started the IPO process -- Mobikwik and Paytm have filed their draft red herring prospectus (DRHP) with market regulators Securities and Exchange Board of India (SEBI).

This week was filled with major announcements like these. Take a look:

Zomato hits the public markets, oversubscribed by 38 times

Zomato hits the public markets, oversubscribed by 38 times
BCCL

Zomato launched its IPO between June 14-16, at a price band of ₹72-76. The issue attached bids for 2,751 crore compared to the issue size of 71.9 crore shares. The company also raised ₹4,197 crore from 186 anchor investors on Tuesday, July 13. Reports suggest that the issue got about 30-35 times more bids from anchor investors than it intended to sell in the first place.

Advertisement

Paytm files draft paper for India’s biggest IPO

Paytm files draft paper for India’s biggest IPO
BCCL

Digital payments firm Paytm has filed papers for its ₹16,600 crore ($2.2 billion) IPO scheduled for this year. About ₹8,300 crore ($1.1 billion) will be through a fresh issue and the remaining 50% would be secondary issues, offering exit to existing investors. The company may also consider a pre-IPO placement, which will lead to a reduction of the fresh issue size.

Advertisement

Flipkart valued at $37.6 billion, after $3.6 billion

Flipkart valued at $37.6 billion, after $3.6 billion
Business Insider

Walmart-owned e-commerce company Flipkart raised $3.6 billion in a round led by Singapore-based GIC, Canada Pension Plan Investment Board (CPP investments), Softbank Vision Fund 2 and Walmart. The company has been valued at $37.6 billion.

Advertisement
Advertisement

Ola Electric raises $100 million debt, days after Ola’s half a billion round

Ola Electric raises $100 million debt, days after Ola’s half a billion round
Ola

Ola Electric, the electric vehicles (EV) focused arm of ride hailing giant Ola, raised $100 million of debt from the Bank of Baroda to fund and scale its scooter factory. The company has also opened booking for its scooters. The development comes only days after Ola announced its pre-IPO round of $500 million from Temasek and Warburg Pincus.

Advertisement

Mobikwik files for ₹1,900 crore IPO

Mobikwik files for ₹1,900 crore IPO
BCCL

Digital wallet and payments company MobiKwik is looking to raise ₹1,900 crore through its IPO. The company plans to raise ₹1,500 crore through primary issue and the rest ₹400 crore through secondary issue to provide partial exit to a few existing stakeholders American Express, Bajaj Finance, Cisco System, Sequoia Capital and Treeline Asia. The company’s founders Bipin Preet Singh and Upasana Taku will also be selling a part of their shareholding in this issue.

Advertisement

Swiggy gets new cofounder; CCI approves investment from SoftBank

Swiggy gets new cofounder; CCI approves investment from SoftBank
BCCL

India’s competition watchdog Competition Commission of India (CCI) has approved SoftBank’s request to invest in Swiggy. According to media reports, SoftBank is planning to invest about $540 million in the food delivery giant at a valuation of $5 billion. Besides this, the company has also elevated long-time employee Phani Kishan Addepalli as the cofounder.

Advertisement

Lending startup Credit Fair raises $15 million in seed round

Lending startup Credit Fair raises $15 million in seed round
LinkedIn

Consumer lending fintech startup Credit Fair has raised $15 million as part of its seed funding round from chief executive (CEO) of Everest Flavours Anand Ladsariya and Striver Capital Advisors’ CEO Alok Aggarwal. The company was founded in 2018 by Aditya Damani to offer financial solutions to Indians from remote parts of the country.

Advertisement

OYO raises $660 million debt from investor to clear off past debts

OYO raises $660 million debt from investor to clear off past debts
BCCL

Hotels and hospitality company OYO has raised $660 million in debt from undisclosed institutional investors to clear off its previous debts. The company, in its press note, highlighted that its debt financing offer was oversubscribed by 1.7 times and it has received commitments of close to $1 billion from leading investors.

Advertisement