Good Glamm’s New Hire, ixigo’s Upcoming IPO, Amul’s American Dream and more

From Good Glamm's strategic hire of a former cosmetics CEO to ixigo's upcoming IPO and MIB's advertising mandate, stay in the loop. Witness the rebound of new-age tech stocks, Nazara's expansion, and Amul's American venture. Plus, catch up on the latest twist in BYJU’S loan saga.

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

What Matters

“Suswagtam”: Good Glamm Group Ropes In Ex-Becca Cosmetics CEO To Helm International Ops

Good Glamm Group just snagged the former CEO of Becca Cosmetics, Michelle Bloomer, to steer their international expansion. Bloomer is also joining the board of Wyn Beauty by Serena Williams, bringing her top-tier expertise to the mix.

This move comes just as Good Glamm is gearing up for a big IPO, following talks of a $70 million funding round at a $1.2 billion valuation.

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“Ab Aaayega Maza”: ixigo’s IPO To Open On June 10, With Price Band At INR 88-93, Aims To Raise INR 740 Cr

ixigo is gearing up for its IPO, which is set to open on 10th June, setting the price band at INR 88-93 to raise INR 740 crore. The IPO includes a fresh issue of shares worth INR 120 crore and an offer for sale of 6.67 crore shares valued at INR 620 crore.

ixigo is about to join the big league of new-age tech IPOs in 2024, following Awfis, Go Digit, and TBO Tek, with its strong focus on railway ticketing and Tier II and smaller markets.

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“Nyay Ki Talwaar”: MIB’s Latest Mandate For Self-Declaration Before Publishing Ads

The Ministry of Information and Broadcasting (MIB) now requires a self-declaration before publishing ads. For both print and digital ads, agencies must submit a declaration signed by an authorized advertiser representative on the Press Council of India's portal.

Starting June 18, this mandatory declaration certifies that ads are free of misleading claims and comply with regulatory guidelines, following the Supreme Court's May 7 order.

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“Comeback Ka Time”: New Age Tech Stocks Rebound After 'Black Tuesday' In The Stock Market

After the brutal 'Black Tuesday' crash, new-age tech stocks are making a comeback. Mamaearth, which plummeted 9.19% to INR 416.1, has bounced back as the top gainer. Gaming giant Nazara, despite a steep 14.1% fall to INR 677.25, is also rebounding.

Investors faced a massive $2 billion loss in a single day, but the market's showing signs of recovery.

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“Absolute Sports Ka Jalwa”: Nazara Subsidiary Absolute Sports To Acquire Assets Of Soap

Absolute Sports, the Nazara Technologies subsidiary and parent company of Sportskeeda.com, is set to acquire SoapCentral.com for $1.4 million (₹11.6 crore) in an all-cash deal.

This acquisition, set to finalize in a month, will bring the popular US entertainment content site under Absolute Sports' umbrella.

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“Land of Amul Milk And Honey”: Amul’s American dream

Amul is ready to win over American consumers. While global dairy giants focus on value-added products, the 78-year-old Amul still gets over 50% of its revenue from selling generic milk in India.

Now, teaming up with the 108-year-old Michigan Milk Producers Association, Amul will source milk and target the nearly 5 million strong Indian diasporas through stores like Patel Brothers, Cherians, and Shalimar.

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“Kangali Mein Aata Geela”: BYJU’S Term Loan B Saga: Now, Lenders Initiate Bankruptcy Proceedings Against Epic!, Other Guarantors

BYJU’S Term Loan B saga takes a dramatic turn as lenders initiate bankruptcy proceedings against Epic!, Neuron Fuel, and Tangible Play under Chapter 11 of the US Bankruptcy Code. The lenders claim BYJU’S founders unlawfully diverted $533 million in loan proceeds, a charge that has escalated tensions.

This comes after the Delaware Court found Riju Ravindran in contempt in May for failing to disclose the whereabouts of the $533 million.

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1. Bengaluru-based chicken QSR chain BIGGUYS has landed a juicy $2 million (around INR 16 crore) from a group of NRIs. This fresh funding comes as a mix of equity and other instruments, fueling BIGGUYS' expansion plans.

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2. Pune-based lending tech startup Fibe, formerly EarlySalary, has secured $90 million in fresh equity funding. Led by Hong Kong's TR Capital with $32 million, the round also saw contributions from Trifecta Capital and Amara Partners, boosting Fibe's efforts to diversify its loan portfolio.

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3. iPiD (International Payment Identity) has raised $5.3 million in an oversubscribed pre-Series A round led by Monk's Hill Ventures. This funding will bolster iPiD's efforts to strengthen global payments infrastructure.

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