The fundraise was led by its existing investor QED Investors along with GIC Singapore, Janchor, Sequoia Capital India, Matrix Partners India and Hummingbird Ventures.
Market sources indicate stagnant AUM, poor performance in most of the equity schemes and an AUM composition tilting towards low-valuation fetching debt funds as major reasons
The SaaS unicorn—whose co-founders are part of Fortune India’s 40 Under 40 list this year—has more than doubled its valuation in a little over a year.
In a matter of 41 trading days, since the last life-high on February 16, the second wave of the Covid-19 pandemic has caused between 8% -9.8% correction in the benchmark equity indices until April 19.
The Covid-19 pandemic failed to affect the bulls’ spirits, as benchmark indices saw absolute annual gains between 75.2% and 117.2% while FPIs pumped in a record ₹2.74 lakh crore into equities.
Rising inflation and firming bond yields in the U.S. push down Indian benchmark indices, causing a correction of around 6% from the latest life–highs of February 16.
The two listed stocks of Shapoorji Pallonji Group jumped on the bourses after the Mistry family said it was considering severing ties with the Tata group.
While an amicable separation of the two warring sides may be good for all stakeholders, arriving at an acceptable valuation will not be easy.
The government is tightening the screws on workarounds under the FDI route. An amendment to the rules reinforces the principle that what cannot be done directly, should not be done indirectly.
The new economy playbook has started wearing out. The signs are ominous. Positioning oneself as a tech company—exaggeration, outright lie, or the truth—is all shades of grey now.
