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- Cred plans $200M raise at lower valuation
Cred plans $200M raise at lower valuation
Cred is in talks to raise up to $200 million in a down round, with a valuation expected to drop to around $4 billion from its previous $6.4 billion.
Hello,
Markets rallied nearly 2% on Friday, led by gains in metal and pharma stocks, following US President Donald Trump's announcement of a 90-day pause on tariffs. On the trade front, India is looking to wrap up key aspects of negotiations with the US within six weeks. Meanwhile, with foreign loans becoming more expensive, infrastructure debt is expected to see increased domestic refinancing.
In funding news, Nikhil Kamath has invested $20 million in GreenLine's $275 million round, while Cred is looking to raise $200 million at a sharply reduced valuation.
P.S. Apologies for the recent break and irregularity in the newsletter due to some personal reasons. Rupee Rundown will now be back in your inbox on all working days going forward.
As of 11/04/25
A 90-day tariff pause by US President Donald Trump boosted investor sentiment on April 11, sparking a nearly 2% rally in both the Sensex and Nifty. Buying was broad-based, with metal and pharma stocks leading the charge.
India VIX dropped 6.21%, reflecting reduced market anxiety. Analysts attributed the rebound to the unwinding of leveraged positions, noting that while the pause is temporary, it has eased recession fears in the US.
Nifty 50 | 1.92% | 22,828.55 |
BSE Sensex | 1.77% | 75,157.26 |
Nifty Bank | 1.52% | 51,002.35 |
Nifty IT | 0.69% | 32,740.85 |
Nifty Vix | (6.17%) | 20.11 |
10 yr Bond | (0.00%) | 6.440 |
USD>INR | (0.16%) | 86.05 |
Source: Moneycontrol
VIP Clothing +9.47%
VIP Clothing jumped 11% intraday after announcing a merger with quick-commerce platform Zepto, supporting its digital-first strategy and expanding product reach across Mumbai, Delhi NCR, Bengaluru, and Chennai.
Muthoot Finance (5.84%)
Muthoot Finance fell almost 6% following the RBI's draft guidelines on gold-backed loans, causing sharp intraday volatility.
Kotak Institutional Equities downgraded the stock to ‘Add’ and reduced the target price to ₹2,400.
India aims to conclude key parts of US trade talks within six weeks. (ET)
With foreign loans getting costlier, infrastructure debt to be refinanced domestically. (ET)
Loan pool sales jump as banks turn to securitisation to ease credit-deposit ratio pressure. (ET)
RBI's credit enhancement norms seen as a game changer for investors and issuers, say bankers. (ET)
There are no mainboard IPOs this week.
M&A / Investments
Cred seeks ₹1,720 crore ($200Mn) funding at a significantly lower valuation. (MC)
Jupiter International raises ₹500 crore ($58.1Mn) in funding. (YS)
Nikhil Kamath invests ₹172 crore ($20Mn) in GreenLine's round. (EN)
Findi acquires BANKIT for ₹160 crore ($18.6Mn). (EN)
Good Host Spaces acquires Zolostays' college hostel business for ₹107.8 crore ($12.5Mn). (YS)
Creativefuel has acquired Miss Malini for ₹6 crore ($697k). (YS)
Rinku Singh invests ₹1.9 crore ($220k) in BeastLife. (EN)
Belrise Industries buys H-One India to boost production capacity. (BS)
Godrej Industries acquires food additives business of Savannah Surfactants. (BS)
Ujala Cygnus to acquire ~60% stake in a Punjab hospital chain. (BS)
VC
Expert Dojo launches ₹860 crore ($100Mn) fund, to invest ₹129 crore ($15Mn) in India by FY26. (EN)
Category | Company | Amount |
|---|---|---|
Consulting | ₹172 crore ($20Mn) | |
Deeptech | ₹51 crore ($6Mn) | |
Wellness | ₹5 crore ($581k) | |
Sportstech | Undisclosed |
