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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
Market realities, risky pivots and a bleeding loan book are testing the discount broker’s prospects even as its core business is on the decline.
Last week, Billionbrains Garage Ventures Ltd, the parent of discount broker Groww, filed updated draft documents for its IPO. It comprises a fresh issue of shares worth Rs 1,020 crore ($116 million) alongside a significant offer for sale by existing investors and co-founders. With the IPO, Peak XV Partners is looking to divest 1,580 million shares, followed by Y Combinator (1,050 million) and Ribbit Capital (1,180 million). Its promoters will also be divesting some of their shares.
The Bengaluru-headquartered company—and its planned IPO—cannot be looked at in isolation. At first glance, this might look like a great time to go …
The UAE is looking at its first public listing of the year while Egypt just delivered a big one; OpenAI’s bugging accused has ties to Saudi Arabia; and other updates from the week.
The loan aggregator keeps sending updates on WhatsApp even to users who haven’t applied for a loan. The company is exploiting a grey area in India’s telecom regulatory framework and WhatsApp’s policies.
The kingdom is moving to tighten the rules around public listings, algorithmic trading, trading in foreign securities and company disclosures—all in an effort to chase transparency.
