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Oyo slashes issue size as it refiles for IPO

Softbank-backed hotel aggregator Oyo has submitted a confidential "pre-filing" document for a likely slimmed-down initial public offering, a source told Reuters. The company initially filed to go public in 2021, aiming for an IPO size of 84.3 billion Indian rupees ($1.02 billion), but delayed the share sale at that time. Oyo is ......
Ritesh Agarwal Exchange Board Of India Oravel Stays Exchange Board Subscribe Now Oravel Stays

VC-backed fintechs' credit card play gets second shocker as key issuer pulls the plug

SBM Bank India, the wholly-owned subsidiary of foreign lender State Bank of Mauritius (SBM), has blocked the corporate credit cards it offered in partnership with several fintech players in India following a Reserve Bank of India (RBI) diktat to update their 'know your customer' (KYC) details, multiple people privy to ......
Bank India State Bank Reserve Bank Sbm Bank India State Bank Of Mauritius Reserve Bank Of India

Rabo, others back Avanti Finance with $24 mn cheque

Technology-led non-bank finance company (NBFC) Avanti Finance raised $24 million (about โ‚น197 crore) in funding from Rabo Partnerships, a wholly-owned unit of the Rabobank Group, and IDH Farmfit Fund. Existing investors Oikocredit and NRJN Trust also joined the fundraise.ย  The Bengaluru-based company said it will use the funds to enhance its ......
Miguel Tamayo Maertens Marianne Schoemaker Rahul Gupta Malvika Maloo Sustainable Trade Initiative Rabobank Group

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Acquisition by Physicswallah will help us accelerate growth: Knowledge Planet co-founder

UAE-based test prep startup Knowledge Planet was recently acquired by Indian unicorn Physicswallah, which aims to expand into the Middle East region. ย ย  VCCircle caught up with KPโ€™s co-founder Monika Oli to get insights on the business strategy and growth and functional integration plans post getting acquired. ย  Bootstrapped before the acquisition, ......
Knowledge Planet Monika Oli Middle East Knowledge Planet Monika Oli Kotak Wealth Management

Cloud-based firm CometChat raises $5 mn; Sequoia's Surge, others back Metastable Materials

Cloud-based communication platform CometChat and deeptech startup Metastable Materials have secured early-stage funding, the companies said on Monday. CometChat Mumbai and Denver-based cloud-based communication firm CometChat has raised $5ย million (around Rs 40 crore) in a debt funding round from Utah-based Zions Venture Fund. The company will use the fresh funds for product development, ......
United States Archana Priyadershini Lakshay Singhal Tanuj Garg Manikumar Uppala Anant Garg

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