Results for: IPO

Swiggy, the Bengaluru-based food and grocery delivery giant, has received the green light from its shareholders to pursue an initial public offering (IPO) that could raise up to $1.25 billion. The company plans to issue fresh equity shares worth up to $450 million and sell existing shares worth up to $800 million in the IPO. Swiggy is reportedly in talks with anchor investors for a pre-IPO round that could bring in an additional $90 million. The company has yet to file its IPO prospectus with the Securities and Exchange Board of India.

Microsoft-backed cloud-based cybersecurity firm Rubrik has set its initial public offering (IPO) stock price at $32, exceeding its expected range of $28 to $31. The company will sell 23 million shares on the New York Stock Exchange under the ticker RBRK, raising $752 million. The IPO comes amid strong demand, with Rubrik attracting 20 times as many orders as available shares. Despite continued investment in business expansion, Rubrik reported widening net losses in its latest fiscal year. The company’s subscription ARR rose 47% year over year to $784 million as of January 31, 2024. Rubrik’s IPO follows recent offerings from Reddit and Astera Labs and is part of a growing trend of tech companies entering the public markets.

Rubrik, a data management software company backed by Microsoft, priced its IPO at $32 per share, above its expected range. The company raised $752 million from the offering, valuing it at $5.6 billion. Rubrik is hitting the public market during a slow period for venture-backed tech IPOs, but the company has strong growth potential with its cloud-based cybersecurity software.

Swedish financial technology company Klarna has announced a global partnership with Uber to power payments for the ride-hailing giant’s Uber and Uber Eats apps. The partnership will see Klarna added as a payment option in the U.S., Germany, and Sweden, along with Klarna’s “Pay Now” option, which lets customers pay off an order instantly in one click, in the Uber and Uber Eats apps. Klarna will also offer an additional payment option for Uber users in Sweden and Germany which allows users to bundle purchases into a single, interest-free payment that gets taken out of their monthly salary. The deal marks one of the most significant merchant wins for Klarna of late, and comes as the European fintech giant is rumored to be gearing up for a blockbuster initial public offering that could value the firm at north of $20 billion.

Soccer legend David Beckham has filed a lawsuit against F45 Training, a fitness brand co-owned by Mark Wahlberg. Beckham alleges that the company failed to fulfill its obligations under their contract, in which he promoted the brand ahead of its IPO in 2021. He claims he was not provided the promised cash and equity compensation, and is seeking over $14 million in damages.

Varyaa Creations IPO opened on Monday, April 22, and will close on Thursday, April 25. The price band for the IPO is set at 150 per share, with a face value of 10 each. The issue lot size is 1,000 shares.

The company trades in gold, silver, and other metals, as well as precious and semi-precious stones. It also manufactures and sells jewelry, with a focus on creating and promoting jewelry as of the current fiscal year. The company produces its jewelry using job workers in Mumbai and has a product portfolio that includes pearls, gemstones, lab-grown diamonds, necklaces, earrings, tops, rings, and bracelets.

The company has received bids for 17,05,000 shares against 12,70,000 shares on offer, as of 17:03 IST on day 2. The issue was booked 70% on day 1.

The net proceeds from the offering will be used by the company to finance the opening of a new showroom, pay for the associated capital expenditures, purchase inventory, and for general corporate purposes.

The share allocation basis is expected to be finalized on Friday, April 26, and the shares will be credited to the accounts of the allottees on the same day that the business starts processing refunds, which is Monday, April 29.

CVC Capital Partners, a prominent investment firm with stakes in entities such as Six Nations rugby and Lipton Teas, is preparing to list on the Amsterdam Stock Exchange with an estimated valuation ranging from €13 billion to €15 billion. This move will make 114 million shares, priced between €13 and €15 each, accessible to public investors, breaking away from the previous exclusive access for private buyers. The decision to launch this IPO comes after years of planning and a number of postponements due to global events.

The Securities Exchange Board of India (SEBI) has approved the initial public offerings (IPOs) of co-working space provider Awfis Space Solutions Ltd. and online travel distribution platform TBO Tek Ltd. Awfis aims to raise Rs. 160 crore through a fresh issue and an offer for sale (OFS) of over 10 million equity shares, while TBO Tek plans to garner Rs. 400 crore via a fresh issuance and an OFS of 1.56 crore shares.

Shivam Chemicals and Minerals’ IPO opened for subscription on April 23rd. The issue has received decent demand and is subscribed 0.35 times on the first day. The IPO closes on April 25th and is expected to finalize allotment on April 26th. Shivam Chemicals shares will be listed on BSE SME on April 30th. Keep reading for more details and GMP today.

Reddit’s much-anticipated IPO brought a wild first month, with the stock soaring after its debut and then nose-diving to its current price. While IPO investors are still in the green, peak buyers are facing significant losses. Analyst coverage is split, with some seeing the stock as a ‘Strong Buy’ due to its unique platform, while others caution about its advertising challenges. Reddit’s metrics, including daily active users and average revenue per user, are trending positively, but its ARPU lags behind peers like Meta. The company is working to improve its monetization strategy and has been successful in attracting larger brands as advertisers. Reddit is on track to achieve GAAP profitability within the next 12 months. However, risks remain, including the potential for the company’s advertising machine to underperform and the expiration of lockup periods. Despite the risks, Reddit’s long-term growth potential remains significant, especially if it can capitalize on industry tailwinds and its unique niche status.