FirstCry to refile IPO papers post Sebi order
FirstCry is set to withdraw its papers for an up to $500 million IPO as early as next week, after India's markets regulator raised questions over key metrics it disclosed to investors.
FirstCry is set to withdraw its papers for an up to $500 million IPO as early as next week, after India's markets regulator raised questions over key metrics it disclosed to investors.
The company plans to open its first store in Riyadh in the first half of this year and open three more by the end of the year in the capital city and Jeddah. "These are the two cities we are targeting because that's where our customer base - affluent, high disposable income customers - is living," Kumar said, noting that Saudi Arabia, the biggest economy in the Gulf, and the UAE offer a host of untapped opportunities.
Naresh Krishnaswamy was previously the head of fitness services at Cultfit. He has been running all key operations at the firm since cofounder and former chief executive Mukesh Bansal moved to Tata Digital as its president.
With this, Swiggy is closer to joining a string of new-age internet companies looking to go public including FirstCry, Awfis and Ola Electric.
The secondary deal likely to value Sugar Cosmetics at Rs 2,900 crore. Early backers like RB Investments, India Quotient, and angels are likely to part-sell shares in the ongoing funding round, according to people in the know of the matter.
InsanelyGood currently operates in Bengaluru only after a scaledown from six cities last year to reduce cash burn. Orders placed on the service before 11 pm usually get fulfilled by 7 am the following day.
The proposed initial public offering (IPO) is entirely an offer for sale (OFS) of equity shares by promoters and other selling shareholders.
The Tata group-owned online grocer BigBasket is eyeing to come out with an initial public offering in 2025 after turning profitable, a top official said on Tuesday.
Shein, which was founded in China but is now headquartered in Singapore, is in the early stages of exploring the London option as it has judged it unlikely that the US Securities and Exchange Commission will approve its IPO, the people said, asking not to be identified discussing confidential information.
Swiggy Pvt Ltd (formerly Bundl Technologies Pvt Ltd) changed its name for brand proximity. It operates under brands like Instamart, Dine Out, and Genie. Swiggy is preparing for a $1 billion IPO and aims to achieve profitability by reducing costs. Zomato is its main rival.
Shein investors are trying to sell shares in private market deals that value the online fashion giant at as low as $45 billion, reflecting dwindling appetite for a company struggling with intensifying competition and regulatory scrutiny ahead of a long-awaited US debut.