Unicorns first
Firstly, as usual, the unicorn deals. PayTM’s mega IPO is underway, albeit a tepid response, considering the previous IPOs of Nykaa and others that were massively oversubscribed. Of the 18300cr in the PayTM IPO, 10000cr is coming from existing investors in the OFS, while the rest is from the fresh equity issue. BYJUs picked an 8900cr loan funding, while Zomato invested 1296cr into Magicpin, Curefit, and Sprocket. D2C major MyGlamm became a unicorn after the Warburg-led round, and also subsequently raised 1110cr from Prosus, Bessemer, Alteria and others. Existing investors also invariably participated in the deals of these companies. Find more about these IPOs on privatecircle.co.
The IPO coverage would not be complete without mentioning Saphire foods, which operates franchises of KFC, PizzaHut etc, raised 2000cr from the IPO. LatentView IPO was subscribed at 326 times overall, signaling a super-duper listing later this month.
Other deals
- Other deals in the D2C space included, Wakefit which raised 200cr from SIG, and Verlinvest, and Sequoia valuing it at 2800cr.
- Health-tech also saw more action this week, when Mosaic Wellness raised a 177cr round from Sequoia, Elevation and Matrix partners. In the ed-tech space, there was a large round of 467cr from Premji-invest, GSV ventures, Binny Bansal, 021 Capital, and others, into Brightchamps, valuing it at 3710cr.
- In the logistics space, we saw Mahindra acquiring Meru at 1300cr, and Zoomcar raising a further 679cr funding led by SternAegis Ventures along with other institutional investors. Supply chain infra space had a large deal with Leap India raising 104cr from CDC group to further build its silos across India.
- On the corporate side, Amazon seller services saw a fresh infusion of 1459cr from its parent, to further strengthen the Tier-II, and III cities strategies.
The week was dominated by IPOs (3) and M&As (14) and there were 38 funding and strategic investments. Internet (12), Technology (7), and Retail (4) dominated in sectors.
With so many IPOs lined up and unicorn deals not slowing, looks like the momentum will be carried forward for the next few weeks and possibly till early next year. See you next week.