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<ul><li>Start-ups should shift focus from billion dollar valuations to becoming proficorns. <keyword id="3339370" type="General" weightage="20" keywordseo="freshtohome" source="Orion">FreshtoHome</keyword> is one such proficorn that is talking about a public listing soon after its Series D fund raise of $104 mn. </li><li>Entry valuations are now more about science and not art. Start-ups are getting valued on the basis of revenue or profit unlike the past two years. </li><li>FreshtoHome believes that start-ups that are profitable should not feel the compulsion of raising capital time and again. </li></ul> During the heydays of the unicorn boom in India (at the peak of the pandemic), start-ups spent more time talking about their sky-high valuations no sooner had they raised a fresh round of capital rather than their business. Blue-sky opportunity also meant unprecedented valuations back in the day, but a lot has changed since then. Start-ups are now antsy about valuations and their unicorn status even if they have raised a fresh round that would put them in the league. The preferred word now is ‘proficorns.’ Revenue and profitability are now key metrics that founders want to talk about. Now that the pixie dust of crazy valuations has started settling down in a post-pandemic world, both start-ups and their investors are being forced to smell the coffee. Shan Kadavil, the co-founder and chief executive officer of FreshtoHome, a start-up that sells fresh meat and fish, refuses to talk about valuations even after raising $104 million in a Series D funding, led by Amazon Smbhav Venture Fund. Kadavil says: “Valuations cannot be the only North-star metric. Media has so far focused on unicorns. For the start-up community in India, we have to push for proficorns, which are tailored to be profitable.” At the peak of the venture boom over 2020 and 2021, start-ups raised capital at crazy entry valuations. India birthed 40 unicorns in 2021 alone and experts say that the entry valuations of these are now beginning to look unsustainable. Then the sky looked blue and the opportunity seemed bottomless. Despite the exuberance, some players played it safe and did not raise capital at unrealistic valuations. Explains Kadavil: “We have been careful about entry valuations. Entry valuations have to be a multiple of revenues or profit. If you apply art to this science, then entry valuations will go sky-high like multiples of 10x, which makes exits very hard.” <div type="image" title="kadavil 2" msid="98544755" hostid="261" sizebytes="71512" caption="&amp;lt;p&amp;gt;Shan Kadavil, the co-founder and chief executive officer of FreshtoHome&amp;lt;br&amp;gt;&amp;lt;/p&amp;gt;"></div> Final destination for FreshtoHome is a public listing, not joining the Unicorn club Consumers know of this fresh meat and fish seller but its founders believe that what is not talked about is its technology chops. It has always focused on profitability, which is why it is aiming to hit the bourses for a public listing. FreshtoHome’s proposition is to give preservative- and antibiotic-free meats and fish. Kadavil, who has worked in the Silicon Valley and has taken a few companies public too, joined hands with other colleagues to start FreshToHome back in 2015. The target is to take this direct-to-consumer or D2C start-up public in the next three years. He says: “Our ultimate goal is public listing in 3 years and we want to now become PAT (profit after tax) profitable. It is too early to say the kind of capital we are looking to raise. It could be 10-20% of the total capital raised.” The start-up has raised $254 million in total since inception. The latest round could well have created India’s next unicorn, but Kadavil refuses to spell it out due to confidentiality reasons. Instead he prefers to talk about the company’s revenue, which currently stands at ₹1,100 crore, making it the country’s largest organised player from a revenue perspective. With gross margins at 40%, the start-up has attained operational profitability. The next milestone is to become profitable at the net level. On raising further rounds of capital, Kadavil says, “IPO (initial public offering) is the final destination for valuing the company. I would suggest companies to be operating-margin profitable and reduce the need for frequent fundraising.” FreshtoHome is operationally profitable unlike the ecosystem, he adds. The company has positioned itself as a player that delivers fresh fish and meat that is devoid of chemicals and antibiotics. He says, “The work we have done with fishermen and farmers is what is not known. We use technology to source directly from the fishermen such that they get a 20% higher price than they get from the market.” FreshtoHome has patented its own technology platform called Commodities Exchange, which it uses to bring fishermen and farmers online so that they can sell their produce directly. Building moats before a public listing FreshtoHome’s top team has spent some time building the Commodities Exchange platform, which gives them an “unfair advantage” over competition. The way delivery works is based on a supply chain that is efficient. So when a consumer in Delhi orders online, the product is delivered within 24 hours from catch. Once orders are placed, produce is transported and processed in the local centres and then delivered. “We are replicating the same model in GCC (Gulf Cooperation Council). We will go to countries that are accessible by air within 3-5 hours from India,” explains Kadavil. The $104 million raised will be deployed in expanding the network of physical stores from 30 to 100. Physical stores help because India still prefers to buy fresh fish from wet markets. This has helped convert customers to online more easily. Boats keep coming to harbours and fishermen sell their catch to the middlemen, who in turn, sell fish at auctions. It is not practical to set up a brick-and-mortar presence across 5,000 harbours, so FreshtoHome has an electronic exchange where it buys fish from fishermen. The exchange allows farmers to sell the fish online by taking a photo and uploading it and getting a better price. There is always a demand and supply mismatch at harbours, which helps organised players use technology to get best prices. He says that the category is riddled with middlemen. The middlemen are also money lenders to the smaller fishermen. FreshtoHome goes to harbours and auctions directly to buy fresh fish, which accounts for 43% of sales. “We built our moat on these lines,” explains Kadavil. Market opportunity for meat and fish retailers like FreshtoHome and Licious India consumes 10 million metric tonnes of fish valued at $50 billion. Fresh catch from India is not just sold in India’s wet markets, but is also exported to the GCC (Gulf countries) region. A large part of the GCC region’s fish imports are from India – fish alone accounted for $5 billion in exports from India to the GCC region. FreshtoHome believes that they have a scalable business with unit economics that are profitable. The company is present in 160 cities and its scale is large. The company aims to further fortify its business case before hitting the public markets. SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/startup-fundraising-hits-an-8-month-low-in-february-falls-over-83-yoy/articleshow/98390347.cms">Startup fundraising hits an 8-month low in February, falls over 83% YoY</a> <a href="https://www.businessinsider.in/business/startups/article/unicorns-are-pass-cockroaches-are-the-new-favourites-of-venture-capitalists/articleshow/95734214.cms">Unicorns are passé, cockroaches are the new favourites of venture capitalists</a>

Unicorn’s a Bad Word Now: FreshtoHome eyes listing in 3 years as CEO says IPO is final test of valuation

Fresh fish and meat e-commerce platform <keyword id="3339370" type="General" weightage="20" keywordseo="FreshToHome" source="Orion">FreshToHome</keyword> on Tuesday said it has raised $104 million in Series D funding with <keyword id="11104928" type="General" weightage="20" keywordseo="Amazon-Smbhav-Venture-Fund" source="Orion">Amazon Smbhav Venture Fund</keyword> leading the round. Existing investors Iron Pillar, Investcorp, Investment Corporation of Dubai (the principal investment arm of the Government of Dubai), Ascent Capital and others also participated in this round. The funds will strengthen FreshTo'ome's mission to make 100 per cent preservative and antibiotic-residue free fish, seafood, and meat accessible and affordable to millions of meat lovers" "We are 'ow a 'Pro'icorn' with operational profitability across the company. As we strive to offer more value to our farmers and fishers, customers, employees and investors, our focus is on profitability and sustainable value cre"tion," said Shan Kadavil, CEO and Co-founder, FreshToHome. New investors joining this round include E20 Investment Ltd, Mount Judi Ventures and Dallah Albaraka. Launched in 2015, FreshToHome operates in more than 160 cities in India and the UAE and offers more than 2,000 certified fresh and chemical-free products. "Our vision with the $250 million Amazon Smbhav Venture Fund is to empower the next generation of innovative, technology enabled companies led by visiona"y founders," said its spo"esperson. "We are excited to partner with FreshToHome for the next phase "f its growth," the spokesperson added. Two years ago, FreshToHome raised $121 million in its Series C rou'd, led by Dubai's Investment Corporation of Dubai, Investcorp, IronPillar, Ascent Capital a'd US Government's development finance institution -- DFC. FreshToHome said that on a company-wide basis, it is now operationally profitable. SEE ALSO: <a href="https://www.businessinsider.in/personal-finance/news/how-to-compare-your-tax-liability-in-old-and-new-tax-regimes/articleshow/98116217.cms">How to compare your tax liability in old and new tax regimes</a> <a href="https://www.businessinsider.in/tech/mobile/news/oneplus-11r-pre-orders-to-begin-today-free-buds-z2-card-discounts-specs-and-more/articleshow/98112032.cms">OnePlus 11R pre-orders to begin today – free Buds Z2, card discounts, specs and more</a> <a href="https://www.businessinsider.in/finance/news/how-to-use-credit-card-to-make-upi-payments/articleshow/98090488.cms">How to use credit card to make UPI payments</a>

FreshToHome raises $104 mn in Series D funding round led by Amazon Smbhav Venture Fund

Bengaluru-based <keyword id="3339370" type="PERSON" weightage="20" keywordseo="Freshtohome">FreshToHome</keyword>, an integrated online brand in fresh fish, poultry and meat e- commerce, said on Monday it would receive <keyword id="10395553" type="UNKNOWN" weightage="20" keywordseo="financialand-non-financial-incentives">financialand non- financial incentives</keyword> from <keyword id="10392028" type="COMPANY" weightage="20" keywordseo="the-abu-dhabi-investment-office">the Abu Dhabi Investment Office</keyword> (ADIO) to develop projects in desert agriculture and aquaculture in <keyword id="63248" type="LOCATION" weightage="20" keywordseo="Abu-Dhabi">Abu Dhabi</keyword>. FreshToHome said in a statement it would expand farming, supply chain and processing capabilities across precision agriculture and aquaculture in Abu Dhabi. In addition to FreshToHome, ADIO has also partnered individually with two other agriculture technology (AgTech) companies, Pure Harvest and Nanoracks. "Together with FreshtoHome, the three companies will receive financial and non-financial incentives totalling AED 152 million (USD 41 million) to expand their operations in Abu Dhabi...," the statement said. The new partnerships are a continuation of ADIO's efforts to accelerate the growth of Abu Dhabi's AgTech ecosystem through the AgTech incentive programme, it was stated. Shan Kadavil, CEO and Co-Founder of FreshToHome, said: "...we intend to bring our US patent-pending AI-powered Virtual Commodities Exchange technology, our e-grocery platform and our nano farm aquaculture technology to Abu Dhabi, enhancing food production and distribution for the region." ADIO is the government entity responsible for attracting and facilitating investment in the Emirate of Abu Dhabi. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/bharat-biotech-applies-for-emergency-use-approval-for-its-covid-19-vaccine-covaxin/articleshow/79617391.cms" data-type="tilCustomLink">Bharat Biotech applies for emergency use approval for its COVID-19 vaccine Covaxin</a> <a href="https://www.businessinsider.in/science/health/news/covid-19-vaccine-in-india-expert-panel-to-review-pfizer-serum-and-bharat-biotechs-emergency-use-application-tomorrow/articleshow/79617336.cms" data-type="tilCustomLink">COVID-19 vaccine in India: Expert panel to review Pfizer, Serum and Bharat Biotech's emergency use application tomorrow</a>

FreshToHome attracts ADIO funding, to expand operations in UAE capital

<ul><li><keyword id="3339370" type="PERSON" weightage="20" keywordseo="Freshtohome">FreshToHome</keyword>, the fresh fish and meat e-commerce platform, has raised $121 million in a Series C round.</li><li>FreshToHome co-founder and CEO Shan Kadavil told Business Insider that the company is the world’s largest vertically integrated platform. </li><li>Kadavil said that the company has grown over four times in the last 12 months, and specifically during the lockdown, they saw a 2.5X growth.</li></ul>FreshToHome, the fresh fish and meat e-commerce platform, has raised $121 million in a Series C round. The <keyword id="6357455" type="UNKNOWN" weightage="20" keywordseo="Funding">funding</keyword> was led by Investment Corporation of Dubai (ICD) – the investment arm of the Dubai government, U.S. Government’s development finance institution – DFC, Investcorp, Allana Group and others. While the company said that this is the largest series C round of funding in consumer tech, FreshToHome co-founder and CEO Shan Kadavil told Business Insider that the company is the world’s largest vertically integrated platform. “Given our value proposition, we have seen viral growth. In addition to that, we are not hyperlocal, we are not just a marketplace or a frontend for the end consumer. We have grown so fast because of the health, immunity and safety aspect. If you go to a wet market today, it’s not really the safest thing to do,” Kadavil told Business Insider. FreshToHome sources from over 1,500 fishermen and farmers from across the country and also does contract farming.The startup also uses its patent-pending AI-powered supply chain technology and is aided by a state-of-the-art cold chain. “At ICD, we seek to partner with companies like FreshToHome that are able to break new ground for the greater good while also enjoying a large shareholder value creation opportunity” said Khalifa Al Daboos, Deputy CEO of Investment Corporation of Dubai, in a statement. With the latest investment, the company is also planning to expand across India and the Middle East. Fast growth Kadavil said that the company has grown over four times in the last 12 months, and specifically during lockdown, they saw a 2.5X growth. “What that reflects is how consumer buying has changed. Our category is very huge, it’s a $94 billion market and despite the market size, mostly everything is sold through wet markets,” he said. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Orders per month </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.5 million </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Annualized revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹600 crore </td></tr></tbody></table> The biggest hesitation for people so far had been they didn’t know or had assurance about the quality of food bought online – whether it’s fresh or not. But Kadavil shared that by deleting the middlemen in the process, they offer fresh produce to their users. He shared an example that when a user from Delhi places an order at 11 am, the fish is still in Cochin and is processed overnight and delivered to the user. “The online purchase behaviour is such that once you try the first order, then you get hooked on to our page. We have over 96% retention which is really a measure of how consumers buyback from us. It’s one of the largest retention rates in the industry,” said Kadavil. With the growing number of users and orders, over the next 12 months, Kadavil is targeting annualized sales of ₹1,500 crore. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/after-katrina-kaif-alia-bhatt-invests-in-e-commerce-unicorn-nykaa/articleshow/78888581.cms">After Katrina Kaif, Alia Bhatt invests in e-commerce unicorn Nykaa</a>

FreshToHome raises $121 million – founder says they are looking to double their revenue to ₹1,500 crore in the next one year

<ul><li>India’s benchmark indices <keyword id="6484188" type="General" weightage="80" keywordseo="sensex" source="Orion">Sensex</keyword> and <keyword id="2931774" type="General" weightage="20" keywordseo="nifty50" source="Orion">Nifty50</keyword> tumbled in the second half of trading on Monday amid a sharp surge in volatility due to concerns of a fallout from the run on <keyword id="630197" type="General" weightage="80" keywordseo="silicon-valley-bank" source="Orion">Silicon Valley Bank</keyword> (<keyword id="675965" type="General" weightage="100" keywordseo="svb" source="Orion">SVB</keyword>). </li><li>All but one sectoral indices were in the red, with bank, auto, realty and FMCG stocks falling the most. </li><li>IT services company Tech Mahindra emerged as the top gainer in the Nifty50 pack on the appointment of Mohit Joshi as its new MD and CEO.</li></ul>India’s benchmark indices Sensex and Nifty50 tumbled in the second half of trading on Monday amid a sharp surge in volatility due to concerns of a fallout from the run on Silicon Valley Bank (SVB). All but one sectoral indices were in the red, with bank, auto, realty and FMCG stocks falling the most. Both the benchmark indices were down 1.2% midway on Monday – Sensex fell 705 points to 58,345, Nifty50 declined 200 points to 17,218. <a href="https://www.businessinsider.in/stock-market/news/explained-what-is-india-volatility-index-or-vix-and-why-is-it-important-now/articleshow/93935633.cms">India VIX</a>, which measures the volatility in the markets, rose sharply by over 13% on Monday. IT services company Tech Mahindra emerged as the top gainer in the Nifty50 pack on the appointment of Mohit Joshi as its new MD and CEO. In the week ended on Friday, March 10, bears wiped out the gains of the preceding two weeks – Sensex closed 0.52% lower, while Nifty50 fell 0.31%. Most of the sectoral indices were in the red on Monday morning, with media, banks, auto and pharma sectors declining the most. IT was flat, while metals and financial services sectors were in the green. Top gainers and losers on Nifty50 <table style="border-width: initial; border-style: none;"></colgroup><tbody><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top gainers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Top losers </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Change </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tech Mahindra </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7.29% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IndusInd Bank </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-6.43% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">ONGC </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.35% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Tata Motors </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.39% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Adani Enterprises </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.31% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Infosys </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.35% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Apollo Hospital </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1.03% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">M&amp;M </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.21% </td></tr><tr><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Power Grid Corp </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">0.73% </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">State Bank of India </td><td style="border-left:solid #000000 0.6000000000000001pt;border-right:solid #000000 0.6000000000000001pt;border-bottom:solid #000000 0.6000000000000001pt;border-top:solid #000000 0.6000000000000001pt;vertical-align:top;background-color:#d9d9d9;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-2.17% </td></tr></tbody></table> Source: NSE, March 13, 2023 <cmsannotation type="cmsannotation" annotationid="US authorities step in to protect SVB depositors" comment="subhead" text="US authorities step in to protect SVB depositors">US authorities step in to protect SVB depositors</cmsannotation> The run on the Silicon Valley Bank left the startup ecosystem on the edge over the weekend – SVB caters to nearly half of all the venture capital-funded startups in the US. However, the US authorities rushed to step in before the bank opens on Monday, announcing that the money of all the depositors will be available when the bank opens on Monday. That said, market sentiments were mixed on Monday morning. While Hang Seng rose 1.84%, Taiwan Weighted was flat. Shanghai Composite edged up 0.57%, while KOSPI was up 0.27%. Nikkei 225, however, fell the most, down by 1.58%. <cmsannotation type="cmsannotation" annotationid="Stocks to watch" comment="subhead" text="Stocks to watch"><keyword id="73648" type="General" weightage="20" keywordseo="stocks-to-watch" source="Orion">Stocks to watch</keyword></cmsannotation> Nazara Technologies: The gaming platform reported that two of its subsidiaries have deposits worth ₹64 crore at the collapsed Silicon Valley Bank. <keyword id="6367820" type="General" weightage="80" keywordseo="adani-group" source="Orion">Adani Group</keyword>: The Gautam Adani led group said it has completed full prepayment of margin-linked share backed financing aggregating to $2.15 billion, before the committed timeline of March 31, 2023. Also, promoters have prepaid a $500 million facility availed for financing the acquisition of Ambuja Cements. <keyword id="6355199" type="General" weightage="80" keywordseo="reliance-industries" source="Orion">Reliance Industries</keyword>: Media <a href="https://economictimes.indiatimes.com/industry/banking/finance/ten-more-banks-set-to-join-syndication-for-reliance-industries-ltds-3-billion-loan/articleshow/98591608.cms?UTM_Source=Google_Newsstand&amp;UTM_Campaign=RSS_Feed&amp;UTM_Medium=Referral">reports</a> suggest that Reliance Industries’ $3 billion loan is in the final stages of completion, in a consortium consisting of three dozen banks. ICICI Bank: RBI has granted approval of extending the deadline to divest its shareholding in ICICI Lombard General Insurance to less than 30%. The deadline has been extended till September 9, 2024. M&amp;M: As per reports, the automaker is likely to sell 4.6% stake in automotive component supplier Mahindra CIE Automotive at a floor price of ₹355 per share through a block deal. Bank of Baroda: The lender plans to divest 49% stake in credit card subsidiary, BoB Financial Solutions. The bank is aiming at a 12 month timeline to bring in a partner for technology, distribution and sourcing knowledge. Sona BLW: Private equity firm Blackstone is likely to completely exit the investment in the auto component maker through a block deal on Monday. According to reports, the floor price has been set at ₹400 per share. Tech Mahindra: The IT company announced the appointment of Mohit Joshi as MD &amp; CEO to take over after CP Gurnani’s retirement on December 19, 2023. Joshi has two decades of experience in enterprise technology software &amp; consulting space. SEE ALSO: <a href="https://www.businessinsider.in/investment/news/as-markets-turn-topsy-turvy-sovereign-gold-bonds-offer-hopes-of-a-safe-haven/articleshow/98545327.cms">As markets turn topsy turvy, sovereign gold bonds offer hopes of a safe haven</a> <a href="https://www.businessinsider.in/business/startups/news/unicorns-a-bad-word-now-freshtohome-eyes-listing-in-3-years-as-ceo-says-ipo-is-final-test-of-valuation/articleshow/98544597.cms">Unicorn’s a Bad Word Now: FreshtoHome eyes listing in 3 years as CEO says IPO is final test of valuation</a>

Sensex, Nifty50 tumble amid a sharp rise in volatility: Bank, auto stocks drag markets down

<ul><li><keyword id="9770786" type="General" weightage="20" keywordseo="captain-fresh" source="Orion">Captain Fresh</keyword> announced $50 million funding in a round co-led by Tiger Global and Prosus Ventures.</li><li>Captain Fresh had raised $40 million in December 2021 at a valuation of $200 million.</li><li>Companies like Licious and FreshToHome are just a few companies that operate in the same space as Captain Fresh.</li></ul>Captain Fresh, a business-to-business (B2B) seafood and meat marketplace, has nearly doubled its valuation to half-a-billion dollars two months after its last fundraise. The company, on Monday, announced $50 million funding in a round co-led by Tiger Global and Prosus Ventures. The Series C round also witnessed participation from Accel India, Matrix Partners India, Ankur Capital and Incubate Fund. Several media reports suggest that the company may raise another $10 million as a part of this round. Overall, Captain Fresh has raised $100 million to date. The company will primarily use this capital to inorganically grow their business with the means of acquisition of other companies. Captain Fresh had raised <a href="https://economictimes.indiatimes.com/tech/funding/seafood-marketplace-captain-fresh-gets-40-mn-co-led-by-tiger-global-and-prosus-ventures/articleshow/88407585.cms">$40 million</a> in December 2021, also co-led by Tiger Global and Prosus Ventures. The company was then valued at $200 million. The company’s founder and chief executive officer (CEO) Utham Gowda had then mentioned that they are looking to take Captain Fresh to overseas markers like the US and Europe. He had also mentioned that the company’s annualised revenue run rate (ARR) was at around $50 million. ARR is a projection of the upcoming revenue based on what the company has clocked during their best performing month. Captain Fresh was founded in 2019 and it currently has a distribution network in around 20 cities with more than 2,000 retail businesses. The company has previously mentioned that they plan to expand to 100 cities in the next year, while focusing on the international markets. The company believes that the recent series of capital infusion can help it strengthen its technology stack and hire more workforce. The company’s CEO has previously been associated with brands like Tata Strategic Management Group, Kriscore Financial Advisors Private Limited and O3 Capital. He was also the executive vice president of the two-decade-old Nekkanti Sea Foods, one of the largest exporters of seafoods from India. Companies like <a href="https://www.businessinsider.in/business/startups/news/meat-and-seafood-brand-licious-is-now-worth-over-a-billion-dollars/articleshow/86775398.cms">Licious</a> and <a href="https://www.businessinsider.in/business/startups/news/freshtohome-raises-121-million-founder-says-they-are-looking-to-double-their-revenue-to-1500-crore-in-the-next-one-year/articleshow/78892546.cms">FreshToHome</a> are just few companies that operate in the same space as Captain Fresh, however, they largely focus on direct consumer needs. SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/stock-market/news/equity-markets-plunge-more-as-investors-continue-the-big-sell-off-on-the-fear-of-rising-global-uncertainties/articleshow/90044025.cms">Sensex and Nifty take a nosedive as investors continue the big sell-off fearing rising global uncertainties</a> <a href="https://www.businessinsider.in/business/auto/news/vehicle-insurance-premiums-may-increase-from-april-2022/articleshow/90043466.cms">Vehicle insurance premiums may increase from April – here’s how much it might cost you from 2022-23</a> <a href="https://www.businessinsider.in/careers/news/exim-bank-is-hiring-management-trainees-with-a-monthly-salary-upto-55000/articleshow/90016967.cms">Exim Bank is hiring management trainees with a monthly salary upto ₹55,000</a>

This Bengaluru-based fish and meat delivery startup just doubled its valuation to half-a-billion dollars

In a step aimed at protecting the US economy by strengthening public confidence in the country's banking system, the Biden administration has announced that depositors of the failed <keyword id="630197" type="General" weightage="100" keywordseo="silicon-valley-bank" source="Orion">Silicon Valley Bank</keyword> will have access to their money from Monday. After receiving recommendations from the boards of the Federal Deposit Insurance Corporation (<keyword id="115108" type="General" weightage="80" keywordseo="fdic" source="Orion">FDIC</keyword>) and the <keyword id="6355253" type="General" weightage="80" keywordseo="federal-reserve" source="Orion">Federal Reserve</keyword>, and consulting with the president, Treasury Secretary Janet Yellen on Sunday approved actions enabling the FDIC to complete its resolution of the <keyword id="6357722" type="General" weightage="80" keywordseo="silicon-valley" source="Orion">Silicon Valley</keyword> Bank, Santa Clara, California, in a manner that fully protects all depositors, an official statement said. California-based Silicon Valley Bank, the 16th largest bank in the United States, was closed on Friday by the California Department of Financial Protection and Innovation which later appointed the FDIC as its receiver. <keyword id="675965" type="General" weightage="80" keywordseo="svb" source="Orion">SVB</keyword> was deeply entrenched in the tech startup ecosystem and the default bank for many high-flying startups; its abrupt fall marked one of the largest bank failures since the 2008 global financial crisis. The bank failed after clients -- many of them venture capital firms and VC-backed companies that the bank had cultivated over time -- began pulling out their deposits, creating a run on the bank (among the biggest US bank runs in more than a decade). Bank runs occur when customers or investors gripped by panic start withdrawing their money, causing the bank to be incapable of paying its obligations as they come due. "The depositors will have access to all their money starting Monday, that is, March 13. No losses associated with the resolution of the Silicon Valley Bank (SVB) will be borne by the taxpayer," said a joint statement issued by the Department of the Treasury, Federal Reserve, and FDIC. "We are also announcing a similar systemic risk exception for Signature Bank, New York, New York, which was closed today by its state chartering authority. All depositors of this institution will be made whole," it said. According to the interagency federal statement, shareholders and certain unsecured debt holders, however, will not be protected. "The senior management has also been removed. Any losses to the Deposit Insurance Fund to support uninsured depositors will be recovered by a special assessment on banks, as required by law," it said. Finally, the Federal Reserve Board had on Sunday announced it would make available additional funding to eligible depository institutions to help assure banks have the ability to meet the needs of all their depositors, it said. "This step will ensure that the US banking system continues to perform its vital roles of protecting deposits and providing access to credit to households and businesses in a manner that promotes strong and sustainable economic growth," the statement noted. According to the statement issued by Yellen, Federal Reserve Board chair Jerome Powell and FDIC Chairman Martin Gruenberg, the United States' banking system remains resilient and on a solid foundation, in large part due to reforms that were made after the financial crisis that ensured better safeguards for the banking industry. "Those reforms combined with today's action demonstrate our commitment to take the necessary steps to ensure that depositors' savings remain safe," it added. The abrupt collapse of the SVB has left Silicon Valley entrepreneurs unnerved and jittery. It has also pushed tech investors and startups to scramble to figure out their financial exposure and the impact on their ability to operate, at a time when many businesses were already on edge from widespread layoffs. Seeking to ward off the impact on Indian enterprises, Minister of State for Electronics and IT Rajeev Chandrasekhar on Sunday that he will meet representatives of start-ups this week to assess the impact of their exposure to Silicon Valley Bank which was deeply entrenched in the tech startup ecosystem. According to various industry players and experts, most Indian software-as-a-services startups with a presence in the US and firms linked to incubator Y Combinator are among entities that will feel the heat of the Silicon Valley Bank collapse but the impact is likely to be short-term. "The SVB_Financial closure is certainly disrupting startups across the world. Startups are an imp part of NewIndia Economy. I will meet with Indian Startups this week to understand the impact on them n how @narendramodi govt can help during this crisis," Chandrasekhar tweeted on Sunday. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/unicorns-a-bad-word-now-freshtohome-eyes-listing-in-3-years-as-ceo-says-ipo-is-final-test-of-valuation/articleshow/98544597.cms">Unicorn’s a Bad Word Now: FreshtoHome eyes listing in 3 years as CEO says IPO is final test of valuation</a> <a href="https://www.businessinsider.in/investment/news/as-markets-turn-topsy-turvy-sovereign-gold-bonds-offer-hopes-of-a-safe-haven/articleshow/98545327.cms">As markets turn topsy turvy, sovereign gold bonds offer hopes of a safe haven</a> <a href="https://www.businessinsider.in/retail/news/reliance-brings-back-the-iconic-campa-beverage-brand/articleshow/98520789.cms">Reliance brings back the iconic Campa beverage brand</a>

Silicon Valley Bank depositors will have access to their money starting Monday: US Treasury Secretary

<ul><li>Shares of private sector lender Yes Bank tanked more than 12% in early trade on Monday as a Reserve Bank of India (RBI)-mandated three-year lock-in for investors ended today.</li><li>In March 2020, RBI had imposed a reconstruction scheme and superseded Yes Bank’s board due to a steady decline in the lender’s financial position.</li><li>The institutional investors who came to the rescue of Yes Bank were mandated by RBI to hold 75% of their shares in Yes Bank, bought as part of the rescue plan, until March 13, 2023. SBI was to hold at least a 26% stake till March 2023.</li><li>Yes Bank’s financials have been improving since the crisis in 2020. The bank reported a net profit in FY22, its first full-year of profit since FY19.</li></ul>Shares of private sector lender Yes Bank tanked more than 12% in early trade on Monday as a Reserve Bank of India (RBI)-mandated three-year lock-in for investors – who had infused funds into the struggling private-sector lender in 2020 in exchange for an equity stake – ended today. At 12:54 a.m, Yes Bank shares had recovered some of the losses to trade at ₹15.75, lower by 4.55%. Meanwhile, the benchmark indices were also under pressure with all sectoral indices in the red. The Sensex and the Nifty were down 0.5% each while the Nifty Bank index fell 0.80%. For context, in March 2020, the Reserve Bank of India (RBI) had imposed a reconstruction scheme and superseded Yes Bank’s board due to a steady decline in the lender’s financial position, which struggled to raise adequate capital to make provisions for potential non-performing assets. As part of the reconstruction scheme, a consortium of 10 institutional investors led by State Bank of India (SBI) had infused ₹10,000 crore in Yes Bank to bail out the lender. Besides SBI, Axis Bank, IDFC First Bank and ICICI Bank are the other major banks that took part in the bailout. The institutional investors were mandated to hold 75% of their shares bought as part of the rescue plan for three years until March 13, 2023. RBI had also asked SBI to hold at least a 26% stake in Yes Bank till March 2023. As of December 31, SBI held 26.14% stake, IDFC First Bank had 1%, Axis Bank had 1.57% and ICICI Bank held a 2.61% stake in Yes Bank. Meanwhile, LIC held a 4.34% stake in the private-sector lender. In December 2022, Yes Bank concluded the sale of stressed assets to JC Flowers Asset Reconstruction Company on loans worth ₹48,000 crore, which led to a substantial reduction in the bank’s gross non-performing assets. Also, Yes Bank’s financials have been improving since the crisis in 2020. The bank reported a net profit of ₹1,066 crore in FY22 after a net loss of ₹3,462 crore in the previous fiscal year. In fact, FY22 was the first full-year of profit since FY19. In Q3 FY23, Yes Bank said it has recorded a "sustained improvement" in non-performing asset ratios. The gross non-performing asset (GNPA) ratio stood at 2% in the December quarter, as against 14.7% last year. The net NPA ratio came down to 1%, as compared to 5.3% in Q2 FY23. <div type="javascript" title="Custom" contenttype="Image"><cdata><![CDATA[]]></cdata></div> SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-stocks-rally-after-group-prepays-2-15-billion-margin-linked-loans/articleshow/98601176.cms">Adani stocks rally after group prepays $2.15 billion margin-linked loans</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/unicorns-a-bad-word-now-freshtohome-eyes-listing-in-3-years-as-ceo-says-ipo-is-final-test-of-valuation/articleshow/98544597.cms">Unicorn’s a Bad Word Now: FreshtoHome eyes listing in 3 years as CEO says IPO is final test of valuation</a>

Yes Bank shares tank over 12% as 3-year shareholder lock-in period ends

<ul><li><keyword id="375475" type="COMPANY" weightage="20" keywordseo="Future-Retail">Future Retail</keyword>’s share price fell another 10% on August 9.</li><li>The share price had fallen about 16% on Friday, after the deal with Reliance fell through.</li><li>CEO Kishore Biyani had previously said that the deal with Reliance Retail was a “saviour” for the company.</li></ul>Share prices of Kishore Biyani-led Future Retail have taken a nosedive after the ₹24,713 crore deal with Reliance Retail<a href="https://www.businessinsider.in/retail/news/amazon-wins-supreme-court-case-against-mukesh-ambani-reliance-retail-and-kishore-biyanis-future-group/articleshow/85092072.cms"> fell through</a> on Friday, August 6. Future Retail’s share price fell 10% onAugust 9, as of 10:15 a.m. On Friday, the stock had tanked 16% as the Supreme court passed its verdict in favour of Amazon. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Group firms </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Stock movement on August 9, at 10:22 a.m. </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.9% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Consumer </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-8.28% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Lifestyle Fashion </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.96% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Enterprises </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.73% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Supply Chain Solutions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-9.98% </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>The legal battle between Amazon and Future Retail dates back to August 2020, after Mukesh Ambani-led Reliance Retail agreed to buy Future Group’s retail, wholesale and warehousing assets. Amazon, which held about 3% stake in Future Retail through its 49% shareholding in Future Coupon, objected to the deal. The company highlighted that as per their investor clause, Future Group was barred from selling any of its assets to specific companies, including Reliance Industries. Future Retail was already going through a rough time with a debt of ₹10,000 crore. The Reliance-Future deal was supposed to come as a “saviour for the company, its employees and stakeholders”, CEO Kishore Biyani had <a href="https://www.timesnownews.com/business-economy/companies/article/kishore-biyani-says-ril-saviour-amazon-didn-t-help-future-group-despite-reaching-out-to-them-8-times/702472">said</a> previously. Biyani had also noted that they had reached out to Amazon several times, seeking financial help. However, the e-commerce giant never offered any support. “As part of the agreement, they could have provided us funds through affiliates or financial institutions by taking over loans from existing lenders, but they never did despite the agreement clause and our request,” he said. Why is the fall of Future-Reliance deal a cause of concern? Earlier in April 2021, a group of 28 lenders to Future Retail had approved a resolution plan to make loan repayment earlier for the Biyani-led retail giant. The company’s existing debt would have been restructured under the Reserve Bank of India’s (RBI) special scheme for COVID-related stress. The lenders had also decided to extend the period of repayment of the working capital loan by two years. The restructuring was subject to Future Group’s retail assets being acquired by Reliance Retail, as per <a href="https://www.livemint.com/companies/news/lenders-to-withdraw-debt-recast-if-future-group-ril-deal-goes-through-11619105398252.html">sources</a> aware of the matter. Apart from the ₹ 10,000 crore debt, Future Retail is also under stress financially. The retail giant had reported a revenue of ₹6,437 crore in the financial year that ended in March 2021, with a loss of ₹3,180 crore as net loss. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Future Retail </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY20 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">FY19 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Income </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹6,437.4 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹20,201.9 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹18,489 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">-₹3,180 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹ 33.8 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹732 crore </td></tr></tbody></table> SEE ALSO <a href="https://www.businessinsider.in/business/startups/news/investment-firm-iron-pillar-is-planning-to-bring-assets-worth-1-billion-under-management-aum/articleshow/85161486.cms" data-type="tilCustomLink">FreshtoHome and BlueStone-backer Iron Pillar is planning to bring assets worth $1 billion under management</a> <a href="https://www.businessinsider.in/business/telecom/news/vodafone-idea-and-airtel-shares-fall-as-sc-rejects-agr-dues-re-computation-appeal/articleshow/84668288.cms">Vodafone Idea sinks nearly 10% and Airtel tumbles a bit after India’s Supreme Court denies a discount on past dues</a> <a href="https://www.businessinsider.in/stock-market/markets/news/cost-cutting-is-not-helping-vodafone-idea-fresh-funds-might-but-nothing-is-coming/articleshow/84092610.cms">Cost cutting is not helping Vodafone Idea, fresh funds might ⁠— but ‘nothing is coming’</a>

You Searched For "freshtohome ceo" and got 9 results

Unicorn’s a Bad Word Now: FreshtoHome eyes listing in 3 years as CEO says IPO is final test of valuation

Malini Bhupta

FreshToHome raises $104 mn in Series D funding round led by Amazon Smbhav Venture Fund

IANS

FreshToHome attracts ADIO funding, to expand operations in UAE capital

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FreshToHome raises $121 million – founder says they are looking to double their revenue to ₹1,500 crore in the next one year

Sanchita Dash

Sensex, Nifty50 tumble amid a sharp rise in volatility: Bank, auto stocks drag markets down

Rounak

Bhakti

This Bengaluru-based fish and meat delivery startup just doubled its valuation to half-a-billion dollars

Kritti Bhalla

Silicon Valley Bank depositors will have access to their money starting Monday: US Treasury Secretary

PTI

Yes Bank shares tank over 12% as 3-year shareholder lock-in period ends

Bhakti Makwana

Future Group stocks cannot shake off the shock from the deal with Reliance Retail falling through

Kritti Bhalla

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