Indian food delivery startup Swiggy is set to lay off 6 per cent of its workforce as it seeks to reduce costs and increase profitability ahead of its initial public offer (IPO), the Economic Times reported on Thursday. The job cuts would impact about 350-400 employees across teams including technology, call centre, and corporate roles, […]
In a strategic move to cut losses and enhance profitability ahead of its anticipated public listing later this year, Swiggy, the popular food and grocery delivery platform, is reportedly contemplating doubling its platform fee on food orders. The proposed increase would see the platform fee surge from the current Rs 5 to Rs 10 per […]
Supam Maheshwari, CEO, and Co-founder of the mother and child care ecommerce platform FirstCry, purportedly sold 6.2 million shares before the company’s upcoming initial public offering (IPO). Media sources estimate the value of the shares he sold to be more than Rs 300 crore. Maheshwari, named as a selling shareholder in the draft red-herring prospectus […]
Zomato stocks caught up in the downward momentum on Thursday, after the GST authorities sent a show cause notice of nearly Rs 402 crore to the firm alleging the unpaid dues which were earned by levying delivery charges to the customers on behalf of delivery partners. The stocks plunged 2.5 per cent to Rs 124.05 […]
Brainbees Solutions (FirstCry), a retail platform specialising in products for mothers, babies, and kids, has submitted its Draft Red Herring Prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The initial public offering (IPO) of the company includes a fresh issue of equity shares totaling up to Rs 18.16 million and an offer-for-sale […]
FirstCry, an ecommerce platform focused on mother and childcare products, is set to introduce its initial public offering (IPO) in the early months of the upcoming year. Preceding the IPO launch, Softbank Vision Fund has divested a significant portion of its shares in the company. Softbank, the primary shareholder in retailer FirstCry, has sold off […]
Ola electric’s move marks a milestone as it aims to raise Rs 5,500 crore in a landmark IPO, drafts papers and presents key risk factors to potential investors to SEBI. This move sets the stage for the first-ever public listing by an Indian EV firm, disrupting the market and fueling the EV revolution. The proposed […]
Ola Electric, an electric vehicle (EV) manufacturer in the space of electric scooters, is preparing for an initial public offering (IPO). This marks the first IPO by an Indian automaker in over two decades since Maruti Suzuki in 2003 and is slated for conclusion in the fiscal year 2024. With a target to secure between […]
Motisons Jewellers will open its initial public offering (IPO) for subscription from 18 December to 20 December, with the allocation to anchor investors scheduled for December 15. The Jaipur-based retail jeweler, which filed its Draft Red Herring Prospectus (DRHP) in March and obtained regulatory approval in September, raised Rs 33 crore in a pre-IPO funding […]
Inox India’s initial public offering (IPO) will open for subscription on 14 December and end on 18 December. The anchor investor allocation will take place on 13 December. The corporation submitted draft paperwork in August of this year, and they were approved earlier this month. The offering is entirely an offer for sale (OFS) of […]
