INSUBCONTINENT EXCLUSIVE:
Imagine Marketing, the company that owns wearable brand Boat, has become the latest domestic technology (tech) company to shelve its
The popular consumer tech brand joins the PharmEasy parent API Holdings, and online automobile marketplace Droom Technology, to withdraw its
draft red herring prospectus (DRHPs)
A drop in valuations of listed tech firms, increased regulatory scrutiny and poor investor response during roadshows are seen as reasons for
introduced various disclosure requirements requiring companies to provide explanations about change in valuation between the pre-IPO
placements and the issue price in an IPO
This has compelled new-age tech companies to reconsider their valuations, strategies, and also the timing of going public
Additionally, it seems that certain companies are also experiencing poor demand in the bid process and roadshows
with the Securities and Exchange Board of India (Sebi) in January and obtained a go-ahead in April
The company was looking to raise Rs 900 crore in fresh capital through the IPO
On Friday, it announced it has raised Rs 500 crore from an affiliate of Warburg Pincus, and Malabar Investments.
Companies that are
unable to launch their IPOs are instead raising capital from private equity (PE) investors
executive officer (CEO), Boat.
In August, PharmEasy decided to shelve its Rs 6,250-crore IPO and instead raise money from existing
investors via rights issue
The online pharmacy had filed its DRHP in November 2021 and obtained Sebi approval in February
Droom, which had filed for a Rs 3,000-crore IPO in November 2021, pulled out its IPO earlier this month
listed tech firms.
Shares of Zomato, Paytm, Nykaa and Policy Bazaar are down between 50 and 75 per cent from their highs, forcing
where tech companies are seeing their valuations soften, particularly in public markets, as a result of tightened capital flows due to
Partners.
New-age firms such as Oravel Stays (Oyo Hotels), Snapdeal and Yatra Online are currently awaiting Sebi nod for their IPOs
Sources said that the sharp erosion in investor wealth has prompted the regulator to take a cautious approach towards approving the IPOs of
Last month, the Sebi board approved changes to the IPO framework requiring companies to justify pricing through disclosure of key
disclosure more cumbersome, it may not necessarily be a deterrent to new-age tech companies from floating their IPOs in India, should a
