Page 9 - Investors

Servify raises Rs 520 crore in new round; aims for IPO in two years

Servify, a company that manages lifecycle of devices for several smartphone vendors in many markets, on Wednesday said it has raised USD 65 million (around Rs 520 crore) in a round led by Singularity Growth Opportunity Fund. The startup, which serves global brands like Samsung and Apple, has raised the money at a valuation which is just under USD 1 billion, its founder Sreevathsa Prabhakar told PTI, adding that it would have achieved the 'unicorn' status after this round itself, if not for a few challenging conditions set by investors. It has consciously raised money from domestic investors in this round because it aims to go public through an Initial Public Offering (IPO) in the next 18-24 months, he said. Investors in the new round include family offices like that of Pidilite, and also existing investors like Iron Pillar, BEENEXT, Blume Ventures, and DMI Sparkle Fund, he said, adding there is a possibility of it raising another USD 5-7 million in the next month to close the round

WealthTech firm Liquide raises $2.2 mn pre-seed led by M Venture Partners

Funds will be used to build a plug and play stock advisory layer to power existing brokerage accounts such as Zerodha, Upstox and Groww

Goldman Sachs sees India bonds getting added to JP Morgan index in 2023

The development is expected to trigger passive inflows of about $30 bn that will help the country finance its current account and fiscal deficits

Investors bearish but no longer 'apocalyptically', says BofA poll

But fears of economic slowdown continued to rise, with 58% of investors anticipating a global economic recession in the next 12 months, up from 47% last month and the highest since May 2020

Rakesh Jhunjhunwala's near $4-bn stock holdings in focus after death

Jhunjhunwala was among the most influential market voices in Asia's third-biggest economy, with an intense following among the nation's growing horde of retail investors.

Rakesh Jhunjhunwala: The unabashed wealth creator sans big scam shadow

Jhunjhunwala, a partner at RARE Enterprises, had risen to amass a $5.8-bn fortune and earn the tag of India's biggest individual investor

Crypto wrap: Market participants coming out of bear phase, experts suggest

In the last seven days, Bitcoin rose nearly 3 per cent, and Ethereum gained 13 per cent. The total crypto market cap rose from $1.03 trillion to $1.1 trillion

SaaS company CleverTap Raises $105 mn in funding round led by CDPQ

It runs a cloud service that helps digital brands to increase customer retention

SaaS start-up SquadStack raises Rs 140 cr in Series B funding for expansion

The SaaS-enabled talent marketplace will use the Series B round fund to strengthen its team, increase its sales experts base and expand into new verticals

New Sebi rules may pull the rug out from India's bid to boost bond market

Opening up India's corporate bond market is an important part of Prime Minister Narendra Modi's pledge to almost double the size of the economy to $5 trillion by 2025

Ladder your fixed deposits to avoid the risk of reinvestment: Experts

Debt fund investors should keep the bulk of their investments in shorter-duration funds, 10-20% in longer-duration ones

Why Zomato's pre-public offer investors are rushing to the exit door

Though stock has crashed 65% from peak, most pre-IPO investors are in-the-money even at beaten-down valuations

Tesla investors clear 3-for-1 stock split amid shares rally since late May

The split will bring Tesla's shares down to the $300 range, but the Austin, Texas based-company did not immediately specify as of when it will take effect

1,500 acres in UP on offer for investors ahead of global summit next year

According to UP industrial development minister Nand Gopal Nandi, the government will utilise the swathes of defunct textile mills, estimated to be almost 1,500 acres, for fresh allotment to investors

Engineering company Fabrication Bazar raises Rs 7 cr in seed round

Fabrication Bazar, which was founded in 2016 by Dwaipayan Dutta and Mohit Garg, has developed a cloud fabrication and tracking platform for manufacturing

India open to investments from everywhere in edu sector: Dharmendra Pradhan

The government is working with a 2030 timeline for the education sector, to augment its quality, capacity and infrastructure, keeping sight of its demographic advantage, Pradhan said

I-T dept likely to make PAN mandatory for cryptocurrency investors

I-T dept plans to seek statement of transactions from crypto exchanges

Smallcap World Fund buys 554,000 shares of Mastek for Rs 117 crore

Smallcap World Fund Inc on Monday purchased 5.54 lakh shares of IT company Mastek Ltd for Rs 117 crore through an open market transaction. According to the bulk deal data available with the National Stock Exchange (NSE), Smallcap World Fund Inc bought 5,54,883 shares of the company. The shares were acquired at an average price of Rs 2,109.96 apiece, valuing the transaction size at Rs 117.07 crore. Meanwhile, Ashish Kacholia sold 5.50 lakh shares of Mastek for Rs 2,110 per scrip. Shares of Mastek closed 3.55 per cent higher at Rs 2,175.50 on NSE. In a separate transaction, ace investor Ashish Kacholia bought 3.72 lakh shares of petrochemical company Agarwal Industrial Corporation Ltd for Rs 19 crore through an open market transaction. Kacholia acquired 3,72,128 shares of the company at an average price of Rs 505 apiece, showed the bulk deal data available with the NSE. This took the transaction value to Rs 18.79 crore. Shares of Agarwal Industrial Corporation closed 15.13 per ce

Despite headwinds, Jefferies recommends buying Zomato stock. Here's why

With the sharp fall in its share price since listing, analysts at Jefferies suggest long-term investors 'buy' the stock

Zomato slumps 11%, closes at new low of Rs 47.55 as one-yr IPO lock-in ends

Start-ups with no 'promoter' may face pressure