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More Money Chases Indian Tech Start-Ups as Investors Shun Chinese Names
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Retail investors portion was subscribed 7.87 times, while the figure was 54.71 times for qualified institutional buyers (QIB). The amount reserved for non-institutional investors or high net-worth individuals (HNIs) was subscribed 34.80 times. The employee quota was undersubscribed, with demand at 68% of the shares set aside for them.
The IPO received more than 3.23 million applications, the second-highest after the Reliance Power offer, which got 4.78 million applications. Earlier this year, the Rs 1,176-crore Indigo Paints IPO, which was subscribed 117 times, got 3.02 million applications.
Success Attributed to Brand
Bankers attributed the success of the Zomato IPO, the first by a startup unicorn in India, to its brand and business, which are simple to understand. Investors have recognised how disruptive these new-age technology companies are in terms of business scalability, and they believe many of them will end up as category leaders as the current population is more digit
Post IPO, Zomato could become India’s 78th most valuable firm by market capitalisation
Photo: Ramesh Pathania/Mint
July 9, 2021
Zomato Ltd’s much-awaited initial share sale could propel the 13-year-old food delivery firm into the ranks of India’s 80 most valuable companies.
At ₹76 per share, the upper end of the price band of ₹72-76 announced on Thursday by Zomato, the country’s largest food delivery platform will have a post-money valuation of ₹59,623 crore, giving it the 78th position among listed firms in India by market value. The share sale will open for subscription on 14 July.
Zomato’s valuation will be more than long-established and well-known names such as Hero MotoCorp Ltd, India’s biggest two-wheeler maker; drugmaker Aurobindo Pharma; Piramal Enterprises; Apollo Hospitals, Biocon Ltd and Bandhan Bank.
SoftBank in talks to invest up to $200m in Indian online pharmacy PharmEasy
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ETtech Exclusive: PharmEasy gets $300 million booster shot for Thyrocare deal
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Last Updated: Jun 28, 2021, 08:08 AM IST
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Synopsis
PharmEasy has raised $300 million more, bringing the total funding received by the online pharmacy since April to $650 million, most of which will be used to fund its ongoing acquisition of diagnostics chain Thyrocare.
ETtech
The Pharmeasy-Thyrocare deal will allow the online pharmacy to offer four key elements of healthcare information, consult, test and treatment at a time when online adoption is growing due to the pandemic. (Illustration: Rahul Awasthi/ETtech)
Bengaluru:PharmEasy has raised $300 million more, led by its existing investors, bringing the total funding received by the online pharmacy since April to $650 million, most of which will be used to fund its ongoing acquisition of diagnostic chain Thyrocare, a top executive told ET.
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