IPO

SEBI wants a cap on IPO funds that startups can deploy for M&As unless they specifically disclose takeover targets beforehand.

Paytm plans to use the money raised from the IPO to onboard new consumers and merchants as well as for acquisitions and strategic partnerships.

Paytm has raised almost half of the USD 2.4 billion it is looking to raise in next week’s IPO.

Lifestyle retailer Nykaa will use the IPO proceeds to open more stores in India and venture into the Middle East and European markets.

Investment part of fundraising round said to be targeting total of USD 1.5 billion.

Oyo’s net income nose-dived 69% to USD 558 million in the financial year ended March 31, 2021, from USD 1.8 billion in FY 2020—the year before the pandemic hit.

Oyo has reportedly been gearing up to file documents for a mega IPO of USD 1–1.2 billion by next week, targeting a valuation of USD 12-14 billion.

Freshworks’ share price surge up to 33% to around USD 48 on the back of high investor demand, while its market capitalization ballooned to USD 13 billion on the first day of trading.