As PhonePe moves closer to its public listing, its updated draft red herring prospectus (DRHP) outlines how regulatory changes and shareholder liquidity events have reshaped the company’s revenue mix over the past year. The filing shows that PhonePe has seen secondary share transactions worth Rs 5,771 crore since 2023, providing liquidity to early shareholders ahead of the IPO. A significant portion of this took place in September 2025, when co-founders Sameer Nigam and Rahul Chari executed a Rs 3,937 crore secondary sale, with the shares acquired by General Atlantic. The transaction allowed partial monetisation for the founders while keeping them…
Author: Adarsh Kumar
PhonePe has filed its updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India, marking a key step towards one of India’s most closely watched fintech public listings. The filing comes after Securities and Exchange Board of India granted regulatory clearance for the company’s IPO plans earlier this month. IPO Structure: Entirely Offer for Sale As per the updated DRHP dated January 21, 2026, PhonePe’s proposed IPO will be structured entirely as an Offer for Sale (OFS), with no fresh issue of shares. As a result, the company will not receive any proceeds from the public…
India’s experiential travel startup WanderOn has raised ₹54 crore in a Series A funding round led by DSG Consumer Partners and Client Associates Alternate Fund (CAAF), marking one of the largest institutional fundraises by a fully bootstrapped travel company in the country. The fundraise comes at a time when India’s travel market is undergoing a structural shift, with younger travellers moving away from sightseeing heavy itineraries towards experience-led, community driven journeys built around culture, adventure, and shared moments. Unlike conventional funding announcements driven by boardroom pitches and press releases, WanderOn chose a distinctly brand-first route by letting people experience the…
Travel products platform Escape Plan has raised $25 million in a Series A funding round led by Jungle Ventures, with participation from Fireside Ventures and strategic investor IndiGo Ventures. The funding marks a significant scale-up milestone for the Bengaluru-based startup, which is building a full-stack travel products brand focused on India’s fast-growing base of frequent and aspirational travellers. Earlier funding and investor backing Escape Plan had earlier raised $5 million in July last year through Jungle Ventures’ First Cheque Jungle initiative, with participation from Fireside Ventures and several angel investors. With the latest round, Jungle Ventures continues to double down…
Eternal Limited, formerly Zomato, on Wednesday announced a key leadership transition, with founder Deepinder Goyal stepping down from his role as Group Chief Executive Officer. Goyal will continue on the company’s board as Vice Chairman. The company said Albinder Dhindsa will take over as the new Group CEO of Eternal. The development was disclosed through a letter addressed to shareholders and filed with the stock exchanges. Leadership transition formalised Dhindsa joined Eternal in 2022 following the acquisition of Blinkit in a $568 million transaction. Since then, he has been closely associated with the group’s quick commerce expansion, which has emerged…
Foodtech and quick commerce platform Eternal (formerly Zomato) delivered a sharp improvement in financial performance during the third quarter of FY26, reporting strong revenue growth alongside a 54% rise in profits, driven largely by its inventory-led quick commerce business. Revenue triples on Blinkit-led growth Eternal’s revenue from operations surged three-fold to ₹16,315 crore in Q3 FY26, compared to ₹5,405 crore in the same quarter last year, according to its consolidated financial results filed with the National Stock Exchange. On a sequential basis, revenue rose 20% from ₹13,590 crore in Q2 FY26, reflecting sustained momentum across its platforms. The sharp jump…
The fiscal year ended March 2025 marked a major inflection point for Exotel, as the cloud communication platform crossed the ₹500 crore revenue milestone and returned to profitability after several years, driven by steady operating growth and tighter cost control. Revenue crosses ₹500 crore milestone Exotel’s operating revenue grew 10% year-on-year to ₹490.5 crore in FY25 from ₹444.5 crore in FY24, according to its consolidated financial statements filed with the Registrar of Companies (RoC). Including other income of ₹16.5 crore, the company’s total income rose to ₹507 crore in FY25, up from ₹460 crore a year earlier. The bulk of…
Water wellness startup Care Dale has raised ₹1.5 crore in a pre-seed funding round led by AJVC, founded by Aviral Bhatnagar. The fresh capital will be deployed towards strengthening research and development and accelerating the company’s go-to-market strategy as it looks to expand its presence across Indian households. Addressing hard water problems in Indian homes Founded by Duhita Wani and Roshni Kar, Care Dale is building technology-led solutions to tackle the adverse effects of hard water on skin and hair health. According to industry estimates cited by the company, nearly 70% of India receives hard water, which is a key…
Adtech unicorn Amagi Media Labs made a muted debut on Indian stock exchanges on Wednesday, listing at a discount to its issue price despite strong investor demand during its initial public offering (IPO). Shares of the Bengaluru-based company debuted at ₹317 on the BSE and ₹318 on the NSE, nearly 12% lower than the IPO price of ₹361 per share. Strong IPO demand fails to translate into listing gains Amagi’s ₹1,789 crore IPO had witnessed robust demand across investor categories, closing with over 30x overall subscription. Qualified institutional buyers (QIBs) subscribed to the issue more than 30 times, while non…
Supply chain robotics technology company Unbox Robotics has raised $28 million (around ₹235 crore) in a funding round led by ICICI Venture, as the startup looks to expand its engineering capabilities and accelerate global growth. The round, comprising a mix of primary and secondary capital, also saw participation from RedStartLabs (a subsidiary of Info Edge), F Prime, 3one4 Capital, Navam Capital, Force Ventures, and other existing investors. The Pune-based company had earlier raised $14.1 million from 3one4 Capital and others. Capital to fuel product development and global expansion According to the company, the fresh capital will be used to expand…