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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.
Parent API Holdings seems to be banking on FOMO to raise public money at 500% more than what it was valued at nine months ago.
Editor's note: API Holdings, parent of online pharmacy platform PharmEasy, is on track to set a record for the fastest listing by a unicorn. In April this year, the company raised $350 million from investors, taking it past the billion dollar mark for the first time. Earlier this month, it filed its draft IPO prospectus to float a public issue in the current fiscal year itself. That, if it happens, will see beauty products company Nykaa—which became a $1 billion company in March last year and went on to list earlier this month—lose the tag for the fastest listing by a unicorn. Besides, API Holdings is not looking to raise any small sum. It wants to issue fresh equity to raise about $900 million. It last raised funds in October, to be valued at $5.6 billion, and is working on a pre-IPO placement that is likely to determine the final size and pricing of its issue. Trading in unlisted shares of the company values it at over $9 billion, a whopping 500% increase in the last nine months. The BSE Healthcare index, …
While the filing for an IPO by its telecom and digital business was the highlight, Reliance laid out plans for its new energy and retail businesses, setting them up for eventual listings.
As India’s largest stock exchange heads to the public markets, it may need to rethink its excessive reliance on transaction revenue.
As growth in equities cools, asset managers are looking to embed themselves in payrolls, payments, and credit. This raises their influence, but also the stakes.
