Hike no more; Second chances elsewhere
Two weeks ago, Hike Founder and CEO Kavin Bharti Mittal tweeted that the company will shut down StickerChat and double down on products such as Vibe and Rush.
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Since its launch in 2012, Hike has reinvented itself several times.
The app, which began as a messaging app and once topped Android and iOS’ free apps’ list, later made available other offerings such as news, games, chat stickers, offline chat, and even payments.
Now Hike is prioritising its other social products and ending what many saw as a promising run for the app.
Two weeks ago, Hike Founder and CEO Kavin Bharti Mittal tweeted that the company will shut down StickerChat and double down on products such as Vibe and Rush.
Big Bull-backed Nazara Technologies becomes India s first gaming company to file for IPO
Nazara Technologies, a Mumbai-based diversified gaming company backed by Rakesh Jhunjhunwala, has filed for an IPO for the second time after a failed attempt in 2018.
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Nazara Technologies, backed by billionaire-investor
Rakesh Jhunjhunwala (who s known as the Big Bull of Dalal Street ) has filed for an IPO.
This is the Mumbai-based gaming company s
second attempt to go public after failing to launch the issue in 2018 despite getting approvals from market regulator SEBI.
Nazara, which has
diversified interests in esports, cricket simulation games, quiz and trivia apps, skill-based fantasy gaming, and gamified learning, is India s first gaming startup to file a Draft Red Herring Prospectus (DRHP) with the SEBI.
IRFC
The dedicated financing arm of the Indian Railways, Indian Railway Finance Corporation (IRFC) initial public offering of about ₹4,600 crore may hit the markets in January 2021, a first by a NBFC in the public sector.
The company’s management earlier revealed that it plans to utilise the funds mopped up from the offer. Amitabh Banerjee, Chairman and Managing Director, IRFC said that 10% of the issuance would go to the company’s balance sheet and that will increase its net worth, and from that, the firm will be using it for raising more money from the market.
Indian Railways Finance Corporation
Laxmi Organics files ₹800-cr IPO papers with SEBI
December 16, 2020 Laxmi Organics, a manufacturer of acetyl intermediates and specialty intermediates, has filed initial papers with the market regulator to raise ₹800 crore through an Initial Public Offering (IPO).
The IPO would comprise a new issue of ₹500 crore and an offer for sale of ₹300 crore by the promoter, Yellow Stone Trust. Laxmi Organics has filed a Draft Red Herring Prospectus with SEBI on Wednesday.
The Mumbai-based speciality chemicals manufacturer, which started as a manufacturing company for acetaldehyde and acetic acid in 1992, is also the largest manufacturer and exporter of ethyl acetate from India.