PayTM’s Shares In Free Fall, Jio Financial Looking Up, CyberPowerPC To Enter India

Paytm's shares take a hit while Jio Financial eyes foreign investment surge. As gaming fever grips the nation, CyberPowerPC makes its mark. Meanwhile, regulatory scrutiny looms as Honasa faces ad violation allegations. Amid IPO frenzy, Awfis Space garners overwhelming interest. Delhivery and SUGAR Cosmetics team up for seamless B2B logistics, signaling innovative partnerships shaping the future.

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

What Matters

“Ye Dukh Khatam Kaahe Nahi Hota”: Paytm Shares Continue To Bleed, Tanks Over 4% On Friday

Paytm shares took a nosedive on Friday, plummeting over 4% and hitting INR 339.00 apiece. By 11:00 AM, they were trading slightly higher at INR 340.15, down from Thursday’s close of INR 356.20.

This dip follows Paytm's first quarterly results since the Reserve Bank of India clamped down on Paytm Payments Bank, adding to investor woes.

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“Abhi Toh Party Shuru Hui Hai”: Jio Financial Services Seeks To Raise Foreign Stake To Up To 49%

Jio Financial Services is aiming to boost foreign ownership up to 49%, seeking shareholders' approval through e-voting. They plan to expand into asset management, insurance, and more, while also applying to the Reserve Bank of India to become a core investment company.

With the board's green light on December 27, 2023, this move could reshape their financial landscape.

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“Swag Se Karenge Sabka Swagat”: US Gaming PC Brand CyberPowerPC Enters India Amid Surge In Hardcore Gaming

US gaming PC powerhouse CyberPowerPC is making its grand entry into India, capitalizing on the hardcore gaming boom. Bringing its top-tier gaming rigs and custom configurators, the brand partners with giants like Intel, Microsoft, Nvidia, and AMD.

Adding to the excitement, Vishal Parekh, ex-marketing head of NODWIN Gaming, steps in as the new COO.

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“Chor Ki Daadhi Mein Tinka”: Mamaearth Parent Honasa Tops Ad Violators List For FY24

Honasa, the parent company of Mamaearth, tops the ad violators list for FY24, according to ASCI's latest report. The list also names unicorns like 1MG’s HealthKart, FirstCry, Lenskart, Physicswallah, and Unacademy.

Beyond beauty and personal care, gaming platforms like MyTeam 11, Dream 11, and Rummy24 are also called out, with ASCI investigating 8,299 ads and finding many guilty of misleading claims and harmful promotions.

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“Awfis Ka Jalwa”: Awfis Space IPO oversubscribed on Day 2

Awfis' IPO is making waves, being subscribed over 4 times on just the second day. According to BSE data, a whopping 3.69 crore bids came in for the 86.29 lakh shares on offer.

Retail investors led the charge with a 12.27X oversubscription, while non-institutional investors weren't far behind, oversubscribing their portion by 6.82X.

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“Saathi Haath Badhana”: Delhivery partners with SUGAR Cosmetics for pan-India B2B logistic operations

Delhivery has teamed up with SUGAR Cosmetics to handle their B2B logistics across India, strengthening an already solid partnership.

Known for its express parcel shipping for SUGAR’s direct-to-consumer sales, Delhivery will now ensure smooth operations for the beauty brand's broader logistical needs. This move promises enhanced efficiency and reach for SUGAR Cosmetics nationwide.

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1. Zaggle shares surged over 7% in early trading, driven by impressive Q4 growth and strong future projections. Equirus Securities' confidence in Zaggle's revenue growth potential, combined with shares nearly doubling since their September 2023 debut, has investors buzzing at the INR 320 level.

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2. Nykaa's stock tumbled 3% after Q4 results, closing at INR 173.95 amid mixed reactions from brokerages. While JM Financial reiterated a "BUY" rating with a target of INR 220, ICICI Securities downgraded it to "HOLD" with a target of INR 175, leading to a massive selloff.

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3. EkAnek's Foxy has secured INR 21.6 Cr from Lightspeed to shift its focus towards beauty consultations. This strategic funding round aims to enhance Foxy's offerings in the beauty ecommerce space.

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4. Sachin Bansal's Navi Finserv has raised INR 150 Cr through bond issuance, part of its plan to secure up to INR 600 Cr via Non-Convertible Debentures. The fintech unicorn attracted investment from six individual investors, marking a significant step in its fundraising efforts.

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5. Accel-backed biotech startup Mynvax secures fresh funds with a Rs 21.63 crore ($2.6 million approximately) investment led by Inviga Healthcare Fund. This extended Series A round marks a significant milestone for Mynvax, marking its return to fundraising after nearly three years.

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6. Home decor startup Vaaree initiates a new funding round, securing Rs 20.78 crore ($2.5 million) in a pre-Series A round led by Capier Investments and Peak XV’s Surge Ventures.

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7. Dvara Kshetriya Gramin Financials (Dvara KGFS), a rural-focused NBFC serving over 2.41 million customers, secures $10 million in debt funding from global impact investor BlueOrchard Microfinance Fund.

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