With the market capitalisation of Freshworks crossing over $13 billion on its debut day at Nasdaq Stock Exchange, around 500 employees or around 12 per cent of the company’s total staff strength of around 4,300 have become ‘crorepatis’ in India and more interestingly over 70 of them are below the age of 30 years. … Read more
India’s plans to list state-run Life Insurance Corporation (LIC) face an unusual problem: domestic law firms are shying away from advising the government, deterred by the low fees on offer at the time of a lucrative boom in corporate stock listings. With millions of policyholders and a share of 66% of new premium collections in … Read more
Ride-hailing startup Ola has selected banks including Citigroup Inc. and Kotak Mahindra Bank Ltd. to manage its Mumbai initial public offering that could raise about $1 billion, according to people familiar with the matter. The company, backed by SoftBank Group Corp. and Tiger Global Management, has also picked Morgan Stanley for the listing, said the … Read more
Freshworks Inc., one of the country’s best-known software product startups, has kickstarted the process for an initial public offering (IPO) in the United States, buoyed by a surge in customer signups and revenue in recent months. On Friday, the San Mateo-based startup, which was founded in Chennai, filed its application with the US Securities and … Read more
SEBI had previously kept IPO on hold in June 2021 due to some pending enquiry against the Wadia Group that owns 73.33% of the Company. Key points to note – The Company can now go ahead and file the final prospectus. Roadshows can happen to gauge investor interest. The Company aims to raise Rs 1,500 … Read more
With the definition of a promoter undergoing a change as a large number of private equity and venture fund-led companies are getting listed on the bourses, Sebi has decided to do away with this traditional concept. The Sebi board on Friday gave its nod to start the process of changing the concept of ‘promoters’ to … Read more
Zomato co-founder Deepinder Goyal said India is a tough market to operate in but the company will not focus on short term profits at the cost of long term success of the food delivery company. “India is a tough market to operate in, but if you are building to succeed in India, you are already … Read more
Companies that have a market capitalisation of more than Rs 1 lakh crore at the time of listing can now sell just five per cent of their shares, with the latest amendment in rules, a move that will be beneficial for the government during the proposed initial public offer of LIC. Such entities will be … Read more
American depositary shares of Vaccitech fell nearly 20% in their Nasdaq debut on Friday, giving the co-inventor of the Covid-19 vaccine developed by AstraZeneca Plc and Oxford University a market value of about $464 million. The biotech firm’s shares opened at $13.62, below the initial public offering (IPO) price of $17 apiece for 6.5 million … Read more