Startup News
Zinka Logistics Solution IPO: Subscription Status and Market Sentiments
The IPO of Zinka Logistics Solution Limited, which opened on November 13, 2024, and closes on November 18, 2024, has a price band of ₹259 to ₹273 per share. The offering, valued at ₹1,114.72 crore, has seen tepid interest, with overall subscription at 1.70 times by day 3. The grey market is trading the shares at par, indicating neutral sentiment. The stock’s performance may improve if market condi
Zomato's Stock Surges on Morgan Stanley's Bullish Outlook: A Bright Future Ahead
Zomato's stock surged 1.74% to INR 274.30 on November 18, following a bullish report from Morgan Stanley. The brokerage projected the stock could double in value within five years, citing Zomato’s growing share in India’s quick commerce market, strong performance in food delivery, and a solid financial position. Morgan Stanley raised its price target for Zomato to INR 355, up from INR 278, and ma
Ritesh Agarwal Boosts Stake in OYO with INR 550 Cr Infusion
OYO founder Ritesh Agarwal is raising his stake to 32% with a INR 550 Cr investment to finance the acquisition of US-based Motel 6 and Studio 6. He plans an additional $60 Mn share purchase at a 45% premium. OYO aims to boost EBITDA beyond INR 2,000 Cr in FY26 and has called an EGM on December 9 to seek investor approval for issuing 12.9 Cr equity shares. The acquisition marks OYO's major US expan
Shares of Go Digit General Insurance Dip Amid Broader Tech Stock Slump
Shares of Go Digit General Insurance fell 5.7% during intraday trading on November 18, reaching INR 313 apiece. This marks the fourth consecutive session of decline, reflecting broader losses in new-age tech stocks, which dropped between 0.08% and 17% last week. Despite this, Go Digit posted strong Q2 FY25 results with a 221% YoY rise in PAT to INR 89.47 Cr and a 14.2% increase in GWP to INR 2,368
HealthKart Raises $153 Mn, Announces INR 55 Cr ESOP Buyback
Healthtech startup HealthKart has raised $153 Mn in a funding round co-led by ChrysCapital and Motilal Oswal Alternates, with an INR 55 Cr ESOP buyback for employees. Known for brands like MuscleBlaze and HK Vitals, HealthKart aims to strengthen its offerings and expand globally. The startup reported strong financial growth, achieving EBITDA profitability in FY24 with revenues surpassing INR 1,000
FirstCry Parent BrainBees Ltd Faces Legal Hurdle, Shares Rally Despite Penalty
FirstCry’s parent company, BrainBees Ltd, has been fined INR 50,000 by the Legal Metrology Department, Varanasi, for violating provisions of the Legal Metrology Act, 2009. Despite this, the company’s shares rallied 5.95% to INR 550 on November 18, with a market capitalization of $3.37 Bn. Earlier this month, it paid INR 1.74 Cr for GST mismatches across multiple financial years. However, the compa