Here are the top 4 Pre-IPO market announcements for Jan’2024:
Lava readies Rs 500-cr R&D, marketing plan
Lava plans to pump in over Rs 500 crore into research and development, and marketing in the next two years, targeting 100% year-on-year growth in the coming years with a focus on ‘5G-fying’ the budget smartphone segment
Lava has seen its revenue triple in the past three years since relaunching its smartphone brand in 2020, while its volumes have grown 2.5 times, underpinning a resurgence after being pushed out of the market by Chinese brands since its peak in 2014.
The company touched its peak market share of 8% in the smartphone segment in 2014 before being pushed to the fringes by moneyed Chinese players who captured the 4G wave. It made a comeback to the segment in 2020, but has a share of less than 1%, which it hopes to grow, backed by its affordable 5G play.
NSE sees new investor registrations hit 3-year peak in Dec, West leads the pack
The National Stock Exchange (NSE) recorded a 47 percent surge in investor registrations in December with 21.1 lakh fresh entrants, as against 14.3 lakh registered with the bourse in November.
“This has been the highest monthly registrations in the period of analysis since May 2019. A part of this is attributed to strong returns generated by the Indian equity market in the month gone by,” the NSE said in its monthly Market Pulse report. Total registered investors stood at 8.5 crore as of end December 2023.
The Nifty 50 surged almost 8 percent, Nifty Midcap 100 gained 7.6 percent and the Nifty Smallcap 100 gained 6.8 percent.
Byju’s shareholders want to show founder Byju Raveendran the door
Edtech company Byju’s’ shareholders are seeking to oust the company’s founders and bring in a change to its leadership. This comes after the edtech giant laid off thousands of employees and saw its valuation take a nosedive. Just two years ago, in 2022, Byju’s was one of the hottest startups, controlled by billionaire Byju Raveendran.
The shareholders acknowledged that they were “deeply concerned” about the future stability of the company under the current leadership.
The statement was put out by Prosus Ventures, which has 9 per cent stake in Byju’s, and who said that they have the backing of other shareholders without naming them. As per a Reuters report Sofina and Peak XV, formerly known as Sequoia Capital India supported the statement.
Naspers, Temasek get CCI approval to purchase stakes in PharmEasy
Fair trade regulator CCI on Tuesday said it has cleared the proposals of purchasing stakes in PharmEasy by various entities, including South Africa-based Naspers group and Singapore’s sovereign wealth fund Temasek.
API Holdings, through its subsidiaries, is in the business of providing healthcare services through online e-commerce marketplace PharmEasy.
Naspers Ventures BV proposed the acquisition of “additional shares of API Holdings Ltd by way of participation in the proposed rights issue, subject to the terms of the term sheet executed amongst the parties”, CCI said in a release.
Naspers Ventures BV is a wholly-owned subsidiary of Prosus, which in-turn is a direct subsidiary of Naspers Ltd.
The Competition Commission of India (CCI) said it has approved the proposed deal.
The regulator has also granted approval to Temasek Holdings, CDPQ Private Equity Asia Pte, DBS Group Holdings, and Goldman Sachs India Alternative Investment Trust to acquire stakes in API Holdings Ltd.
Pharmeasy’s unlisted shares are trading at around Rs 9.6/sh in the Pre-IPO market.
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