CarTrade garnered bids for 263 million equity shares against an IPO size of 12.9 million equity shares.

Zomato, which entered the food delivery segment in 2015, completed a billion orders on its platform last week.

Amazon and Flipkart have been under scrutiny from Indian regulators for allegedly flouting the FDI rules that were established in late 2018.

The funding comes at a time when the Reserve Bank of India, said it was working on its own digital currency.

In this round of India Digest from July 30 to August 4, 2021, read our big story of the week, the weekly buzz, and more.

The company will soon have its own product lines for groceries, general merchandise, and electronics.

The ten-year-old startup has become the 20th firm to turn into a unicorn this year, and the eighth Indian B2B SaaS platform to enter the billion-dollar club.

With a record number of Indian startups becoming unicorns this year and around a dozen preparing to go public, the availability of venture capital in the market has shot through the roof.