BlackBuck's IPO approval, WinZo's ESOP Buyback, Andrew Ng's Maiden India Investment

BlackBuck has secured SEBI's approval for a ₹550 Cr IPO, setting the stage for its market debut. Meanwhile, Zomato's shares climbed over 4% after HSBC raised its target price, highlighting its competitive edge over Swiggy. WinZo celebrates the successful conclusion of its fourth ESOP buyback, reinforcing its commitment to employee equity.

Evenflow is gearing up for growth by enhancing its leadership in quick commerce, D2C, and supply chain sectors. On the fintech front, Jupiter is seeking RBI approval for a significant stake in SBM Bank India, while Andrew Ng's AI Fund makes its first investment in India, backing healthcare startup Jivi to revolutionize diagnostics.

Grab your simmering cup of StartupChai and unwind with our hand-brewed memes.

What Matters

“Yahan Ke Hum Sikandar”: BlackBuck Gets SEBI Nod For INR 550 Cr IPO

BlackBuck, the logistics startup backed by heavyweights like Peak XV and Tiger Global, just got the green light from SEBI for a ₹550 Cr IPO.

Despite still being in the red, BlackBuck managed to shrink its losses by over 30% in FY24, while boosting its operating revenue by 69%. With this IPO, it’s set to shift gears and accelerate growth in India’s freight sector.

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“Waah, Kya Scene Hai”: Zomato Shares Rally Over 4% As HSBC Raises Target To INR 330

Zomato shares surged over 4% after HSBC reaffirmed its ‘buy’ recommendation, raising the target price to ₹330. The brokerage highlighted Zomato's lead over Swiggy in both food delivery and quick commerce, citing stronger growth and profitability.

With a 122% rally year-to-date, Zomato's performance stands in sharp contrast to Sensex’s modest 13% gain during the same period, further solidifying its market position as Swiggy prepares for its IPO.

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“Kaddu Katega, Sab Mein Batega”: WinZo Marks Close Of Fourth ESOP Buyback

WinZo has wrapped up its fourth ESOP buyback, allowing 30% of its workforce with over two years of tenure to cash in on their vested shares.

While the initiative rewards long-term employees, the startup also voiced concerns over the tax hike's impact on foreign direct investment, which is making it harder for the sector to attract and retain top talent.

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“Aaiye Aapka Intezaar Tha”: Evenflow Bolsters Team With Quick Commerce, D2C & Supply Chain Heads

Evenflow is gearing up for major growth, appointing new heads for quick commerce, D2C, and supply chain to boost profits by 6X in the next three years. Founded in 2021, the startup specializes in acquiring and scaling third-party sellers on marketplaces through its value chain expertise.

With seven brands already under its belt, including Xtrim and BabyPro, Evenflow is positioning itself for a stronger foothold in the e-commerce space.

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“Haan Yahi Sapna Hai Tera”: Neobanking Startup Jupiter Seeks RBI Approval For Stake In SBM Bank India

Neobanking startup Jupiter is eyeing a 26% stake in SBM Bank India and is currently seeking approval from the Reserve Bank of India (RBI) for the acquisition.

Backed by heavyweights like Tiger Global and Peak XV, Jupiter's deal could unfold in tranches, with the potential to increase its stake further down the line. This move follows recent reports of Jupiter exploring a smaller 5% to 9.9% stake, signaling its ambitions in the banking sector.

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“Ab Hogi Kranti”: Andrew Ng’s AI Fund Marks Maiden India Bet With AI Healthcare Startup Jivi

Andrew Ng, the AI pioneer and co-founder of Google Brain, is making waves in India with his first investment in the healthcare startup Jivi AI.

Founded in 2023, Jivi AI uses AI-powered diagnostics combined with expert human validation to navigate patients through diagnosis, treatment, and preventive care.

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1. Yatra shares plunged to an all-time low of ₹119.50, marking a fresh 52-week low, before recovering slightly to ₹123 by 2 PM. Despite the decline, the company’s market capitalization remained at ₹1,930.07 Cr ($229.8 Mn), with 1.52 lakh shares changing hands on the BSE.

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2. boAt has successfully reduced its losses by 47% in FY24, despite reporting a 5% drop in revenue to ₹3,122 Cr. The Gurugram-based consumer electronics firm also achieved positive EBITDA, indicating a return to profitability and improved unit economics compared to the previous fiscal year.

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3. Leegality has turned profitable with an impressive 87% revenue growth in FY24, following its remarkable 100% growth in the previous year. Backed by the IIFL Fintech Fund, the document infrastructure platform reported revenue from operations soaring to ₹62 crore for the fiscal year ending March 2024.

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