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SoftBank Cuts Stake in Paytm by 2.2% Amid Challenging Times ****************** To get your startup story featured:- https://lnkd.in/g8invehi Join startup community here:- https://lnkd.in/g75sbS3M ****************** #softbank #paytm #newsupdate #startupnews #startupstory

SoftBank offloads more Paytm shares ***************************************** SVF India Holdings (Cayman) Limited, a SoftBank arm, has divested another 2% stake in Paytm's parent One97 Communications through an open market transaction in order to comply with SEBI regulation.  Post the sale, the Japanese investor’s stake in the fintech startup has reduced to 9.15%.    The trim: Last November, SoftBank offloaded a 4.5% stake in Paytm for Rs 1,631 crore (over $205 million), followed by another 2.07% stake for $120 million between February and May 2023.  SoftBank Vision Fund I had invested $1.4 billion in Paytm, starting in 2017, and had managed to cash out $220 million to $250 million during the company’s IPO last year.  For the quarter ended June 30, 2022, SoftBank had marked down its investment in Paytm by $400 million as the shares of the listed fintech lost nearly 72% over the year, compared to its issue price of Rs 2,150.  

MobiKwik Rises Again, Fintech Unicorn Aims High with ₹700 Crore IPO Revival Read more on the link below 👇 Follow Xartup for daily startup news #startup #business #startupindia #ipo #investor #payments #finance #news

Ola Electric and FirstCry.com (BrainBees Solutions Pvt. Ltd.), Fueled by SoftBank Group Corp., Ready IPO Roadmap for 2024 Read more on the link below 👇 Follow Xartup for daily startup news #startup #business #startupindia #ipo #firstcry #ecommerce #unicorn #investor #news

Amid speculations about the next major investor in Paytm, TICE NEWS engages in a rapid conversation with senior journalist Mr. K Yatish Rajawat to explore the potential implications of a Paytm-Adani deal, if it materliazes. What does it signify for Adani to acquire Paytm? How might this acquisition impact Paytm and the broader fintech sector? Check out his expert opinion here - https://lnkd.in/gNPBVRHf #paytm #fintech #adani #adanipaytm #entrepreneurship #startup #news #newsupdate #startupnews

Gurugram-based fintech startup MobiKwik has refiled its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). According to DRHP, the company aims to raise Rs 700 crore through this offering, marking its second attempt at launching an IPO. The IPO will consist entirely of a fresh issue of shares, with no Offer for Sale (OFS) component. The shares, with a face value of Rs 2 each, will be allocated with 75% reserved for qualified institutional buyers, 15% for Non-Institutional investors, and a maximum of 10% for retail individual investors. MobiKwik also plans a pre-IPO placement of shares worth around Rs 140 crore. The size of the fresh issue will be smaller if such placement is successful. 3. MobiKwik intends to utilise the funds raised for various growth initiatives, including Rs 250 crore for expanding the financial services business, Rs 135 crore each for growing the payment services and investing in data, AI, and other technologies, and over Rs 70.28 crore for capital expenditure in the payment devices sector. #ipo #fintech #startup #Investors #payments #finance #News #growthsensenews

MC Exclusive: Navi open to external investment for acquisitions, cash cushion for uncertain times: Sachin Bansal Sachin Bansal to Moneycontrol on roping in external investors: “Capital always is useful. I think that's what I learned in Flipkart as well. Have a war chest ready always,” "We keep talking regularly. I mean, the question in my mind is whether we need investors who are aligned with our vision. Our IPO horizon hopefully will not be too long… could be 24 months or less than 24 months. So there will be opportunities for them to exit if they want,” “Because of the Chaitanya sale, we got a very nice infusion of equity. That deal was at a decent price. So we're kind of good for I think another 12 to 18 months minimum from a scale perspective. So we are not kind of in a rush to raise money “I think what capital will do for us is it will give us a little bit more cushion to absorb any shocks because the world is an uncertain place, right? Right now any kind of shock can happen. So it's always good to have capital to absorb the shocks. Also, it's possible that because of all this churn in the fintech industry, there could be some acquisition opportunities that may come up. So today, we can't approach them. But if we have extra capital, we may,” Bansal said. https://lnkd.in/gVvpzspp

A growing number of startups are relocating their domicile to India, signalling strong confidence in the country's economic environment. Siddarth Pai (Partner), notes that the US imposes an inversion tax on businesses returning to India, creating uncertainties despite mitigating measures. He also highlights that cross-border mergers require approvals from the National Company Law Tribunal and financial services regulators. Despite these challenges, startups continue to navigate this path to benefit from India's growing market opportunities. More on Financial Express (India): https://t.ly/GSps-

🚀 Pine Labs, the fintech powerhouse backed by Peak XV Partners and Mastercard Inc., is making headlines! 🌟 The company is eyeing a massive initial public offering (IPO) in India, and the buzz is real. 💼 📈 Having recently received approval from a Singapore court to relocate its base to India, Pine Labs is all set to merge its Singapore and Indian entities. The IPO could be a game-changer, with the company aiming for a valuation of over $6 billion. 🎯 Whether it’s issuing business powered by Qwikcilver by Pine Labs, its omni channel platform across India, West Asia, and Southeast Asia, or the smart payments and savings platform @Fave, Pine Labs is poised for success. #PineLabs #IPO #InvestmentNews #Fintech #Business #Growth #Corporate #Success #Market #Development #Entrepreneurship #TechInnovation #India #BelieveIndia To read more in detail, click below:👇 https://lnkd.in/dm_v29xR

The tale of Growing a Fintech Unicorn with Resilience; Mobikwik files DRHP with SEBI for an #ipo. Decoding from the information filled in by MobiKwik: 📌 Issue Size: ₹700 Crore 📌 Founders: Bipin Preet Singh- B.Tech from Indian Institute of Technology, Delhi with stints at NVIDIA and Intel Corporation, Upasana Taku- Stanford University pass out and a PayPal mafia 📌 Promoters: Founders, Koshur Family Trust, and Narinder Singh Family Trust 📌 Headquarters: #gurugram (Delhi NCR) 📌 Options for Pre-IPO Placement: ₹140 Crore (After consulting with the BRLM, shares may be issued via private placement, preferential allotment, rights issue, or any other method) 📌 BRLM: SBI Capital Markets and DAM Capital Advisors Limited 📌 Major Shareholders: With 19.26% holding Bipin Preet Singh is the largest followed by his co-founder Upasan Taku in third place at 13.09% while the second largest holders is Peak XV Partners with 16.73% holding. Additionally, Bajaj Finserv holds 13.44% with Net1 Applied Technologies Netherlands B.V. holding 10.47% 📌 Other Notable Shareholders Include: Cisco, Times Internet, American Express, Tree Line Investment Management, GMO , HINDUSTAN MEDIA VENTURES LIMITED, Abu Dhabi Investment Authority (ADIA) - The #sovereignwealthfunds of #abudhabi 📌 Usage of Funds: An amount of ₹250 Crore is allocated for expanding the financial services sector. Another ₹135 Crore is set aside for funding the expansion of the payment services sector. Additionally, ₹135 Crore is invested in data, #machinelearning, #artificialintelligence, and other products and technology. A sum of ₹70.28 Crore is reserved for capital expenditures for the payment devices sector and general corporate purposes. 📌 Reservations: 75% for Qualified Institutional Buyers (QIB), <15% for Non-Institutional Buyers (NII), <10% is reserved for retail investors Red Flags: 🚩 Bringing down the IPO size from ₹1900 Crore to ₹700 Crore, 63% lower that much likely is the reduction that was kept for OFS and company burn 🚩 To turn profitable, the #startup compromised on its growth with revenue from operations for the FY22-23 increased marginally to ₹539.47 Crore from ₹526.56 Crore in the previous FY and it clocked ₹381.09 Crore to showcase quick growth and might close the year under ₹600 Crores despite having money in the bank. Green Ticks: ✔️ The founders cumulatively hold 32.35% stake showcasing skin in the game ✔️ The #fintech startup drastically brought downs its losses from ₹128.16 crore in the FY22 to ₹83.81 crore in the FY23 and has reported a profit of ₹9.48 crore for H1 closing on September 30, 2023. ✔️ The absence of OFS from investors and the founders will result in huge boost for investor confidence 🔎 Interesting to watch out how; #angelinvestors, #venturecapitalists, #privateequity firms, #familyoffices and other on cap table look at their exit I am Faraz Wadhwania, I write about #startups, #vcfunding, #investments, #fundraising etc.