BUSINESS
From legacy to liquidity: Why private equity firms are courting India’s family businesses
From bakery to baggage, private equity funds and family-owned businesses are shaking hands as Millennials/Gen Zs are choosing to forge their own path, and families are wanting a catalyst for their next phase of growth. An ageing crop of Promoters is also driving PE interest in traditional firms.
BUSINESS
IPO-bound Lenskart clocked revenue of $755 million in FY25, has cash of over $200 million
Lenskart estimated that it closed FY25 with $455 million (Rs 3,865 crore) in revenues from its India business, with the remaining $300 million (Rs 2,550 crore) coming from its international operations, the document showed.
BUSINESS
Flipkart’s Kanchan Mishra to take over Mobiles business after VP Smrithi Ravichandran quits
With the new role, Mishra will become a key person at Flipkart as she will overlook the operations of up and coming Minutes, the quick commerce arm of Flipkart and Mobiles, a key revenue driver for the company.
BUSINESS
Sparrow Capital looks to raise Rs 400 crore in third fund
Its third fund, which will be finalised in the coming months, will allow Sparrow Capital to become a more competitive VC fund and bet more aggressively on high potential founders
BUSINESS
Ola Electric looks to secure Rs 1,200 crore in private credit
A majority of the fresh money will be used to refinance an existing bank loan, a source told Moneycontrol
BUSINESS
Zepto to raise $500 million from General Catalyst, Avenir and others in fresh round at $7 billion valuation
Apart from General Catalyst and Avenir Growth, it is also likely that one or two other investors, who specialise in public markets, may participate in the ongoing round, sources told Moneycontrol
BUSINESS
Lenskart co-founder Peyush Bansal to buy company shares at a valuation of $1 billion, a tenth of its targeted IPO valuation
Bansal is in talks to secure a loan of Rs 200 crore and buy shares in the eyewear startup at a valuation of $1 billion, returning to 2019 levels, sources told Moneycontrol.
BUSINESS
Meesho files DRHP confidentially to raise Rs 4,250 crore in primary capital
With this step, Meesho has moved another step closer to an IPO and also joins a growing list of new-age companies that are headed to Dalal Street.
BUSINESS
Narayana Murthy’s Catamaran eyes Amazon-like joint ventures in precision manufacturing
We're looking for a Y2K moment for precision manufacturing here in India, Ranganath MD, Chairman at Catamaran told Moneycontrol in an interview.
BUSINESS
Nykaa block deal: Banga family to sell nearly 2% stake worth $150 million
A total of 16 million shares in FSN E-commerce will change hands at a discount of 4-5 percent from July 2 levels.
BUSINESS
Virat Kohli opens Agilitas innings with Rs 40-crore investment in first tranche
Kohli’s initial investment of Rs 40 crore is the first tranche of a larger round. He is set to invest more money personally and increase his involvement with Agilitas
BUSINESS
Lenskart to skip confidential route, file DRHP publicly by first fortnight of July
Bansal is also riding on the popularity of Lenskart, and his personal brand, built on the Indian edition of the show Shark Tank.
BUSINESS
Ashish Dave to step down as CEO of startup backer Mirae Asset Venture Investments
Mirae’s India team will continue to look after its investments in the country once CEO Dave moves on.
BUSINESS
Meesho recasts board ahead of IPO
SoftBank's Sarthak Misra and Prosus' Ashutosh Sharma will give up their board seats, sources told Moneycontrol. At the same time, Kimsuka Narasimhan will succeed Kalpana Morparia. After the three changes, Meesho now has eight board members.
BUSINESS
Kuku FM nears $70 million fundraise at $500 million valuation from Granite Asia and existing investors
Kuku FM is currently clocking $10 million in monthly revenue which translates to an annualised revenue run rate of $120 million.
BUSINESS
DailyHunt to give up office space in Bengaluru, lower rent by Rs 60 lakh per month
In the past, companies like DealShare, Byju’s, Dunzo and others have all given up their office space to bring down costs by a few crores, improve their financial health and increase their cash runway.
BUSINESS
Meesho to pay $288 million in taxes to flip back to India ahead of IPO
Meesho’s tax bill is among the largest for a startup in recent times, after PhonePe’s hefty $1 billion outgo
BUSINESS
Meesho inches closer to IPO with NCLT approval to flip back to India
A complete flip back to India is necessary for Meesho if it wants to list on the bourses here.
BUSINESS
Hornbill, MUFG to lead Dhan's $200 million fundraise at over $1 billion valuation
Dhan has agreed on a deal with Hornbill and MUFG. Dream11's Harsh Jain is also doubling down on his bet. The company is also in discussions to pick a third investor between ChrysCap, TPG and Alpha Wave, sources said. Moneycontrol was first to report about Dhan's deal back in July 2024.
BUSINESS
IPO-bound Meesho to finalise India flip back in coming days
Flipping its headquarters back to India is the last step for IPO-bound Meesho before it proceeds to file its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
BUSINESS
Pine Labs Group CFO Marc Mathenz quits ahead of planned $1 billion IPO
Mathenz has quit citing personal reasons, sources told Moneycontrol. Pine Labs is yet to pick a successor and name a new CFO.
BUSINESS
With a focus on meals below Rs 150 and offline-equal prices, Rapido’s Ownly is a zero commission food delivery model for Bharat
Rapido will aim to take on the long held duopoly enjoyed by Zomato and Swiggy in the online food delivery space. As it happens, Swiggy is an investor in Rapido.
BUSINESS
Zomato introduces long-distance fee, rider assurance plan for restaurants to boost order margins
Zomato's parent, Eternal, has also proposed a new visibility assurance plan for brands where they can pay around Rs 6,000-6,500 each month, for each restaurant identification (RID), and boost rider availability for their business, sources told Moneycontrol.
BUSINESS
Walmart-owned Flipkart names Ravi Iyer as new CFO
Sriram Venkataraman will continue to be the CFO of the Flipkart Group, the memo, reviewed by Moneycontrol, showed.
