Shiprocket has given investors a striking first-day payoff, with its shares listing at a 35% premium to its Rs 97 IPO price, before climbing as much as 48.6% intraday. At its peak, that put the company at roughly $1 billion, according to Reuters. The excitement is not just about a successful technology IPO. It reflects … Read more
As per the reports, Aegis Logistics (ALL), India’s largest privately owned liquid logistics company in West Asia, is in advanced discussions to acquire Tristar, a West Asia based liquid logistics company, in a deal valuing the target at about USD 1.5 bn. ALL has supposedly begun talks with a group of European and Indian private … Read more
The Gujarat government on Friday appointed Uday Kotak as the chairman of Gujarat International Finance Tec-City Company Ltd. (GIFT City), as per an ET Now report. Kotak is one of India’s most prominent bankers and entrepreneurs, widely recognised as the founder of Kotak Mahindra Bank, one of the country’s leading private-sector banks. Under his leadership, … Read more
When Saahil Goel says, “We renamed ourselves to Shiprocket,” he is not talking about a cosmetic rebrand. He is referring to a moment when a 14-year-old company finally recognised what it truly was and what it was meant to build. “I think for the first time, the whole company felt it,” he says. For the … Read more
Delhi airport on Thursday formally ended its association with Turkish ground handling company Celebi Aviation for ground handling, cargo operations. The development came after aviation watchdog BCAS revoked the security clearance for Celebi Airport Services India Pvt Ltd in the “interest of national security”. Celebi Airport Services India Pvt Ltd and Celebi Delhi Cargo Terminal … Read more
In a major consolidation move in the Indian courier industry, Delhivery has announced acquisition of it’s rival Ecomm Express. The deal is all cash of Rs 1,407 cr for 99.4% stake It is a distress sale for the struggling Gurgaon-based company that cancelled its IPO last year amid declining business. After Ecomm Express filed it’s … Read more
Adani Infra, owned by a unit of Adani Enterprises, had in November 2024 said it would acquire 30.07% in PSP for Rs 685 cr i.e., an implied valuation of Rs 2,278 cr (Currently PSP has a mcap of Rs 2,550 cr). The stake will be acquired from the promopters, who currently own 60.14% in PSP. … Read more