MobiKwik gets Sebi nod for IPO, may launch before Diwali
Digital payments company MobiKwik has received approval from the Securities and Exchange Board of India (Sebi) to float an initial public offering (IPO), sources told CNBC-TV18. MobiKwik had filed preliminary papers with market regulator Sebi in July this year to float an IPO. MobiKwik may launch the initial share sale before Diwali 2021, the sources said.
The company plans to raise Rs 1,900 crore through the IPO, including Rs 1,500 crore from the primary issuance. If the IPO materialises, MobiKwik will be one of the first online payments companies to list their shares in India. MobiKwik competes against companies like Paytm and Flipkart-owned PhonePe.
Truecaller debuts on Nasdaq Stockholm
Sweden-based Truecaller, a platform for verifying contacts, blocking calls and messages, listed on NASDAQ Stockholm on Friday, opening its trade with a 15 percent pop (the offering price was set at 52 Swedish Krona ($5.94) and the price on opening touched 60 Swedish Krona ($6.85)). India is the largest market for Truecaller, and of the 278 million monthly active users worldwide (as of Q2 2021), 205 million monthly active users were in India. In 2020, 69% of Truecaller's revenues came from India.
"We have acquired two companies in India - Mess.ai and Chillr. We have some fantastic talent and technology to ramp up the roadmap and experience we want to provide. We will see what happens in the future. But it’s definitely something we are looking out for," Alan Mamedi, CEO and co-founder, Truecaller told CNBC-TV18. Truecaller had announced plans to list its Class B shares on Nasdaq Stockholm on September 15. It said it planned to use proceeds of about 1 billion krona (about $114 million) to grow its business in existing markets and enter new ones.
Paytm in talks with ADIA, BlackRock, GIC and Nomura for IPO stakes: Report
Paytm is in talks with sovereign wealth funds and financial firms to become anchor investors in its upcoming blockbuster initial public offering (IPO), Bloomberg News reported. State-backed wealth investors Abu Dhabi Investment Authority and Singapore’s GIC are among those weighing bidding to participate in the Paytm IPO.
Global financial firms such as BlackRock and Nomura Holdings are also in discussions to bid, the report added. Paytm is considering seeking a valuation of $20-22 billion based on initial investor feedback, they said. There are already more than enough bids to cover the shares allocated for anchor investment in the IPO.
IPO-bound Paytm takes full ownership of lending startup CreditMate
IPO-bound fintech major Paytm has acquired a 100 percent stake in digital lending startup CreditMate for an undisclosed amount. With this, the founders of CreditMate have sold their stake to Paytm, CreditMate founder and chief commercial officer Aditya Singh said in a LinkedIn post.
Also Read: Attempts of blackmail to prevent IPO, says Oyo in SC as creditor's case adjourned until October 21
In 2017, Paytm had acquired an undisclosed stake in CreditMate parent, Urja Money, to create a loan management system in collaboration with lending partners. The investment was a part of Paytm’s efforts to create consumer credit products and move towards offering longer tenure loans of large ticket sizes.
Zostel to lodge complaint with SEBI against Oyo IPO as Delhi HC adjourns hearing: Report
While the draft preliminary prospectus was filed in July, it is still awaiting approval from the Securities and Exchange Board of India. The Delhi High Court on October 7 adjourned the hearing of the ongoing dispute between the IPO-bound Oyo and Zo Rooms to October 21. Following this, Zostel has decided to approach SEBI against Oyo's IPO with immediate effect. It is finalising and will send the complaint either on October 7 or 8, Zo's legal counsel told Moneycontrol.
The issues between the two companies date back to 2015 when Zo Rooms, the budget hotel accommodation chain owned by Zostel Hospitality, was shut down after the merger talks between the two, which could have resulted in Zo Rooms getting a seven percent stake in Oyo, failed.
Also Read: Payments tech firm Nuvei files for US IPO
In March, this year, a Supreme Court-appointed arbitrator had finally said that Oyo was in breach of its agreement for the acquisition of Zo Rooms, adding that the latter can proceed to execute the definitive agreement. However, while Zo claims that it is entitled to a stake of seven percent in Oyo, the latter denied the claim stating that the tribunal had granted no specific relief to Zostel in terms of receiving ownership in Oyo.
Delhivery issues bonus shares ahead of filing DRHP: Report
Logistics firm Delhivery has issued bonus shares to shareholders through a resolution passed in the Extraordinary General Meeting (EGM) held on September 29. Ahead of filing its draft prospectus, the IPO-bound company has decided to allot 16.8 million bonus shares to equity shareholders in the ratio of 9:1, according to Economic Times. The report added that 90 shareholders are listed as recipients of the bonus issue.
Online learning platform Udemy files for US IPO
Online learning platform Udemy has filed regulatory paperwork for an initial public offering (IPO) in the United States, Reuters reported. The San Francisco-based company's revenue grew 55.6 percent to $429.9 million in 2020 from a year earlier, its filing showed. Udemy incurred a net loss of $77.6 million over the same period.
The company, which did not share the terms for its offering, was valued at $3.3 billion during a financing round in November last year. It is expected to go public at a much higher valuation. Udemy is the latest in a string of online education companies looking to list their shares in New York after Coursera and Nerdy went public earlier this year. Morgan Stanley and J.P. Morgan are the lead underwriters for the IPO, after which the company plans to list on the Nasdaq under the symbol "UDMY."
(Edited by : Jomy Jos Pullokaran)