GROWW IPO

ET Startup Awards 2025 | Urban Company brings it home, bags top honours

The 10-member jury, chaired by Amitabh Kant, India’s former G20 Sherpa, recognised Urban Company’s scale, category leadership and ability to create a trusted brand in one of India’s most unorganised and toughest sectors. Urban Company, founded by Abhiraj Singh Bhal, Varun Khaitan and Raghav Chandra in 2014, joins a list of eminent winners of the top prize, including Lenskart, Zomato, OfBusiness, Razorpay, Delhivery and Swiggy.

Elevation Capital raises $400 million late-stage fund to back IPO-bound startups

Elevation Capital, known for early-stage investments in companies like Paytm and Swiggy, is launching a $400 million late-stage fund, Elevation Holdings. This new vehicle will target long-term investments in 10-15 companies nearing public markets, focusing on consumer and financial services with a technology emphasis.

ETSA 2025 jury meet; and other top tech and startup stories his week

Welcome to a new edition of ETtech Unwrapped — our weekend newsletter packed with the most important stories from this week. Let’s take a look at the recap.

Proposed Reliance Jio IPO in 2026 billed as biggest public issue in Indian history

Reliance Jio, India's largest telecom operator, is planning to launch its initial public offering (IPO) by the first half of 2026, which could be the biggest share-sale in the country's history.

Vikran Engineering IPO GMP hints at 12% listing pop on day 3. Should you subscribe? Key details here

Vikran Engineering’s Rs 772 crore IPO garnered over 5.62 times subscription on Day 3, led by strong retail and NII demand. A grey market premium of Rs 12 signals a potential 12% listing gain, though analysts remain divided on subscription amid sectoral risks.

Festive lift for etailers; Elevation’s late-stage push

Happy Friday! Online sales this festive season are expected to reverse three years of slowdown. This and more in today’s ETtech Morning Dispatch.

Online investment platform Groww receives Sebi nod to launch IPO

The IPO size is estimated to be in the range of $800 million to $1 billion. Groww’s equity shares would have a face value of Rs 2 each and will be listed on both the NSE and the BSE. The filing for IPO was made under Billionbrains Garage Ventures Ltd, Groww’s registered corporate entity.

RBI’s AI reset; ETSA ‘Startup of the Year’ nominees

The central bank’s new AI framework will send banks back to the drawing board. This and more in today’s ETtech Top 5.

ET Startup Awards 2025: Nominees for Midas Touch

The award will recognise the most lucrative exit in the year. The decision will be made based on the volume of deals as well as the size of the exit.

Startup IPOs by default, not design

Over the last two-three years, India’s late-stage private tech funding landscape has changed radically as growth bets and larger cheques have mostly vanished. A $100 million funding round for mature startups has all but disappeared.

Figma IPO and stock reaction: All you need to know

Figma, the design software company and some of its existing investors sold 36.9 million shares at $33 each, beating the expected price range of $30-32. The price range had been raised from $25 to $28 earlier in the week due to strong demand.

BharatPe firmly on profitability track, eyes $100 million round

BharatPe, the fintech once mired in lawsuits and boardroom drama, is on the verge of a turnaround. Sources told us the company expects to post its first annual profit this fiscal, signalling a clean break from its turbulent past. Over the past two years, BharatPe has tightened its belt and pushed revenue growth, turning the business cash-positive month on month.

Lenskart IPO: Eyewear firm files draft papers with Sebi for Rs 8,000 crore listing

Lenskart IPO news: Eyewear maker Lenskart has filed its DRHP with Sebi to launch an IPO comprising a fresh issue of shares worth Rs 2,150 crore and an OFS of up to 132.3 million shares. The company intends to utilise the funds raised to support its global expansion, strengthen supply chains, and invest in technology.

ETtech explainer: Decoding Lenskart’s draft prospectus for Rs 8,000 crore IPO

Lenskart’s IPO will be the biggest among new-age companies — others include Groww, Meesho and PhysicsWallah — going public this year. However, unlike the other companies, Lenskart has not opted for a confidential filing process. Instead, it has filed a 761-page long DRHP. ETtech takes you through the details of Lenskart’s DRHP.

Lenskart IPO: Founder Peyush Bansal buys back company shares at steep discount ahead of going public

Bansal, who owns a 10.3% stake in Lenskart, is also selling 20.5 million shares in the initial public offering’s (IPO) offer-for-sale component. At the Rs 70,000-75,000 crore (around $8-9 billion) valuation at which Lenskart is aiming to go public, the sale could result in proceeds of around Rs 700-750 crore for Bansal.

Lenskart secures shareholder nod to raise Rs 2,150 crore via IPO

Lenskart's shareholders have approved plans for an IPO aiming to raise Rs 2,150 crore. The company is expected to file its DRHP with Sebi soon, joining other new-age firms seeking public funding. Shareholders also approved a new Esop 2025, and the company reported a 43% increase in operating revenue for FY24, with narrowed losses.

Sebi clears PhysicsWallah’s IPO plans; edtech eyes Rs 4,000 crore raise

The WestBridge Capital-backed startup, which also counts Lightspeed and GSV Ventures among its investors, had filed its IPO papers with Sebi on March 19 under the pre-filing route, allowing it to submit a confidential prospectus. It plans to raise Rs 4,000 crore in fresh capital at a proposed valuation of Rs 35,000–40,000 crore.

SoftBank-backed InMobi looks to raise $1 billion via Indian IPO

InMobi, a mobile advertising platform supported by SoftBank, intends to launch an IPO in India. The company aims to raise $1 billion. It plans to appoint arrangers for the Mumbai IPO and submit a draft prospectus this year. InMobi may seek a valuation between $5 billion and $6 billion. It joins other Indian tech startups choosing domestic listings.

D-St gears up for Rs 2.6 lakh crore IPO storm in H2; Tata Capital, LG, Groww among biggest issues

India's primary market is set for a significant IPO surge in the remainder of 2025, with over ₹2.58 lakh crore worth of offerings in the pipeline, driven by financial services firms, startups, and unicorns. Strong investor participation, particularly from mutual funds fueled by consistent equity scheme inflows, and private equity firms seeking exits are contributing to this robust IPO activity.

Big Bang IPO season: Tata Capital, LG, Groww lead Rs 2.58 lakh crore rush

Indiqube Spaces IPO booked over 29% on Day 1 so far. Check GMP, price band and other details

Indiqube Spaces has allocated 93,13,334 shares for Qualified Institutional Buyers (QIBs) and 46,56,666 shares for Non-Institutional Investors (NIIs). The portion reserved for Retail Individual Investors is set as per regulatory guidelines, while 73,891 shares have been earmarked specifically for employees. Biddings will remain open between July 23-25.

IndiQubeSpaces raises over Rs. 314 crore from anchor investors

IndiQube Spaces Limited garnered over Rs. 314.32 crores from anchor investors at ₹237 per share, attracting prominent names like Aditya Birla Sun Life MF and Invesco India. The IPO, priced between ₹225 and ₹237, is set to open on July 23, 2025. IndiQube reported a Total Income of Rs.

Snapdeal parent AceVector confidentially files DRHP for D-Street debut

AceVector Group, parent of Snapdeal and Unicommerce, has confidentially filed for an IPO with Sebi, joining a wave of new-age companies seeking public listing. Unicommerce saw substantial growth in revenue and profit, while Snapdeal experienced modest revenue growth and reduced losses. The IPO market anticipates significant fundraising from these tech companies, potentially exceeding Rs 18,000 crore.