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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.
The three-year-old fintech seems to think a listing will boost its chances of getting a bank licence. Does it stand a chance, given its missteps?
Editor's note: When Sachin Bansal cashed out of Flipkart with a billion dollars in the summer of 2018, the entrepreneur had made it clear he didn’t want to set up another startup. In November that year, inspired by the HDFC Bank app crash, he got his next big idea: to build a digitally oriented financial services conglomerate. He launched Navi Technologies in December of that year. Three years on, Navi is nowhere close to being a conglomerate. It operates through a network of subsidiaries, most of which it acquired over the same three years. On Saturday, Navi Technologies filed a draft red herring prospectus with the Securities and Exchange Board of India to raise Rs 3,330 crore in an initial public offering. In the process of doing so it has completely chucked the template adopted by every Indian startup, having raised next to no money from private investors before doing an IPO. The 40-year-old Bansal owns 97.39% of the company. It has stitched together businesses ranging from home loans to insurance to mutual funds, but much of that happened in 2021 and …
The three-year-old fintech seems to think a listing will boost its chances of getting a bank licence. Does it stand a chance, given its missteps?
Editor's note: When Sachin Bansal cashed out of Flipkart with a billion dollars in the summer of 2018, the entrepreneur had made it clear he didn’t want to set up another startup. In November that year, inspired by the HDFC Bank app crash, he got his next big idea: to build a digitally oriented financial services conglomerate. He launched Navi Technologies in December of that year. Three years on, Navi is nowhere close to being a conglomerate. It operates through a network of subsidiaries, most of which it acquired over the same three years. On Saturday, Navi Technologies filed a draft red herring prospectus with the Securities and Exchange Board of India to raise Rs 3,330 crore in an initial public offering. In the process of doing so it has completely chucked the template adopted by every Indian startup, having raised next to no money from private investors before doing an IPO. The 40-year-old Bansal owns 97.39% of the company. It has stitched together businesses ranging from home loans to insurance to mutual funds, but much of that happened in 2021 and …
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
The quick-commerce startup weighs a valuation cut or finding alternative funding to stay afloat as investor appetite for loss-making businesses weakens.
The Bengaluru-based contract manufacturer lands in legal hot water with the California-headquartered transformer startup over a trade secret dispute.
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
