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Last valued at upwards of $2 billion, the beauty and home services business gearing up for an IPO is too small and too susceptible to market challenges. Its draft papers are worth a look.

With competition in the segment intensifying, the chief business development officer of India’s largest exchange unpacks the bourse’s strategy going forward.
The home services startup has had a disastrous quarter. It has sunk into losses largely on the back of burning its precious cash to chase the instant domestic help business.
India is ramping up focus on defence drones, and the decade-old startup wants public money to seize the opportunity. But the track record of listed peers offers a cautionary tale.