The initial public offering (IPO) of ecommerce unicorn Meesho continued to draw strong investor demand on Day 2, with the issue oversubscribed 5.23 times as of 14:18 IST. The Bengaluru-based social commerce platform received bids for 145.20 crore shares against 27.79 crore shares on offer, reflecting robust market confidence in the company’s business model and growth trajectory. Retail Investors Lead Aggressive Bidding Retail investors emerged as the strongest contributor in the subscription race. The retail portion was oversubscribed 7.82X, with investors bidding for 39.90 crore shares against the 5.1 crore shares reserved for them. This reflects the high brand visibility…
Author: Adarsh Kumar
Credlix, the supply chain financing arm of B2B ecommerce unicorn Moglix, has acquired a majority stake in Delhi-based NBFC Vanik Finance for around ₹80 crore (approximately $8.9 million). The strategic move aims to strengthen Credlix’s position in India’s growing MSME credit ecosystem and accelerate its expansion into deeper supply chain financing services. In a statement, Moglix announced that Vanik Finance will now operate completely under the Credlix brand, enabling the platform to leverage advanced analytics, digital underwriting, and automated risk assessment frameworks. This integration is expected to speed up credit decision-making and further reduce turnaround time for MSME borrowers. Strengthening…
In one of the biggest moves in global luxury fashion this year, the Prada Group has officially acquired its Milanese rival Versace in a deal valued at 1.25 billion euros (nearly $1.4 billion). The acquisition unites two iconic but contrasting Italian fashion houses Prada’s “ugly chic” minimalism and Versace’s bold, glamorous identity under a single corporate umbrella. The deal, long anticipated by the market, is expected to revitalize Versace after years of uneven performance under U.S.based Capri Holdings, especially in the post pandemic period. In its brief confirmation, Prada said the acquisition was completed after securing all required regulatory approvals,…
In a major boost to India’s rapidly expanding artificial intelligence ecosystem, Haptik co-founder Aakrit Vaish and Together Fund’s former principal Pratyush Choudhury have launched Activate, a $75 million venture fund dedicated to backing early stage AI startups. The fund aims to empower founders building at the earliest stages, including those still at the ideation phase. Activate will invest between $500K and $3 million per company, reflecting the founders’ belief that India is entering a generational AI wave where early technical innovation needs strong capital and hands on mentorship. The fund has attracted a global roster of influential LPs from the…
Deepinder Goyal, the founder and CEO of Zomato, is one of India’s most remarkable entrepreneurs. His journey from a small town in Punjab to building a multi billion dollar food tech giant has inspired millions of young founders and startup dreamers. Today, Zomato is not just a food delivery company. it’s a global brand known for innovation, customer first thinking, and continuous reinvention. Early Life and the Birth of Zomato Deepinder graduated from IIT Delhi and started his career at Bain & Company. While working there, he noticed how employees struggled with physical restaurant menus during lunch hours. This simple…
Wonderchef, the premium kitchenware and home appliances brand co-founded by Ravi Saxena and celebrity chef Sanjeev Kapoor, recorded steady financial growth in FY25 with an improvement in profitability, according to its filings with the Registrar of Companies. The company’s operating revenue rose 11% to Rs 421 crore in FY25, compared to Rs 378 crore in FY24, driven by strong omnichannel sales across retail outlets, e-commerce marketplaces, and quick-commerce platforms. Wonderchef’s broad portfolio spanning non stick cookware, pans, air fryers, chimneys, flasks, and other kitchen appliances remained its sole source of revenue. An additional Rs 2 crore in interest income pushed…
Subscription-based furniture rental company Furlenco has raised Rs 125 crore ($15 million) in a fresh funding round led by Sheela Foam Limited, with additional investment from Whiteoak and Madhu Kela. The capital infusion marks Sheela Foam’s first follow-on investment since acquiring a 35 percent stake in Furlenco in July 2023 for Rs 300 crore. The newly raised funds will enable the Bengaluru based company to expand its product portfolio, strengthen omnichannel distribution, and scale operations as it moves toward public-market readiness. Furlenco confirmed that it is preparing for a potential IPO in the coming years, supported by improving business fundamentals…
The government has defended its directive requiring smartphone manufacturers to pre-install the Sanchar Saathi app, stating that the mandate involves no privacy or surveillance risks and is backed by strong legal provisions under the Telecom Cybersecurity Rules 2024, notified through the Telecommunications Act 2023. Government officials said the app has seen an explosive rise in adoption, recording a tenfold jump in daily downloads from nearly 60,000 to 6 lakh per day following the order issued on November 28. Even before the mandate, 1.5 crore users had already downloaded Sanchar Saathi, reflecting rising public interest in fraud protection and mobile number…
Fireside Ventures has announced the final close of its fourth fund at Rs 2,265 crore ($253 million), strengthening its position as one of India’s most influential early-stage consumer-focused venture capital firms. The fund was raised through a combination of a GIFT City feeder fund and an India master fund, and will support founders building innovative, scalable consumer brands across diverse categories. Fund IV has attracted commitments from a strong mix of Indian and global investors, including major names such as Abu Dhabi Investment Authority (ADIA), Investment Corporation of Dubai (ICD), US university endowments, HarbourVest, Waterfield, Fidelity International, Sharrp Ventures, Mirabilis,…
Moonrider, the Bengaluru based electric tractor startup, has secured $6 million in its Series A funding round led by pi Ventures, with participation from Singularity AMC and existing backers Advantedge Founders and Micelio Fund. The fresh capital marks a significant milestone for the young agritech company as it prepares to scale from pilot projects to full fledged commercial deployment. This funding follows Moonrider’s earlier $2.2 million seed round raised in January 2024, co-led by Advantedge Founders and Micelio Technology Fund, along with several angel investors. The combined investment strengthens the company’s ability to build and deploy next generation agricultural machinery…