India Roundup: Nykaa revises equity offer to raise $83.7m in IPO, and more (Updated)

Update (October 14, 6.07 p.m): Updates news on Nykaa and Delhivery

Nykaa revises equity offer to raise US$83.7 million in IPO

• In August, the company planned to offer fresh equity worth 5.2 billion rupees (US$70 million) and 43.1 million secondary shares of existing shareholders and promoters.
• The company has reportedly received a nod from the Indian market regulator for its public listing, and is likely to make its debut on the local stock exchange by the end of this month.
• Nykaa revealed that it had turned profitable for the first time in the financial year ended on March 2021, bringing in a net profit of 619.5 million rupees (US$8 million).

CarDekho turns unicorn ahead of public listing

• CarDekho, an online marketplace for new and used cars, raised US$250 million in its series E funding round at a valuation of about US$1.2 billion.
• The pre-initial public offering round was led by LeapFrog Investments, while Canyon Partners, Mirae Asset, Franklin Templeton, Harbor Spring Capital, as well as existing investors Sequoia Capital India and Sunley House also took part.
• CarDekho will also begin the compliance process for an IPO with regulators as the company seeks a public listing within the next 18 months.

IPO-bound Delhivery appoints new independent directors

• The company has hired three new independent directors to its board- Kalpana Morparia, Romesh Sobti, and Saugata Gupta.
• While Morpariais the former Chairman of J. P. Morgan in South and Southeast Asia, Sobti has served as the CEO of Indusind Bank from 2008 to 2020. Gupta currently serves as the Managing Director and CEO of Marico, and also serves as an independent director on the board of Ashok Leyland.
• The appointments come ahead of Delhivery’s plans to go public by March next year. The company has said it expects to raise between US$400 million and US$500 million in its stock market debut.

Online property rental firm NoBroker to raise US$100 million

• NoBroker is reportedly in mid-stage talks with new and existing investors to raise fresh funds in the range of US$80 million to US$100 million.
• The company’s valuation could go over US$750 million if the round goes through.
• While General Atlantic, Tiger Global, and two new investors will reportedly contribute over 80% of the round, other existing investors will participate on a pro-rata basis.

Dailyhunt’s parent firm acquires social media app GolBol

• The companies did not disclose the financial details of the deal.
• As part of the deal, GolBol’s co-founders Shanu Vivek, Karandeep Singh Gujral, and Kaushik Mahato will join VerSe Innovation, the parent firm of Dailyhunt.
• In February, VerSe acquired Cognirel Technologies, an India-based AI solutions provider, to strengthen the former’s digital capabilities.

Currency converted from Indian rupees to US dollar: US$1 = 75.25 rupees.