- Rupee Rundown
- Posts
- Meesho Raises $550M from Tiger Global, Peak XV
Meesho Raises $550M from Tiger Global, Peak XV
Hello,
On Monday, January 27, the Indian stock market experienced significant declines, with the benchmark Sensex falling over 1%. In other news, the Indian government is reportedly shifting its strategy by abandoning privatization plans and instead focusing on injecting billions into state-run firms to bolster their performance.
In the startup ecosystem, Meesho has successfully raised $550 million in funding from prominent investors like Tiger Global, Peak XV, and others. Meanwhile, Curefoods is in discussions with bankers for a potential $300-400 million IPO. Additionally, Kedaara Capital has invested $150 million in Juspay.
As of 27/01/25
The Indian stock market witnessed steep losses on Monday, January 27, with the Sensex tumbling nearly 900 points and the Nifty 50 sliding to around 22,800 amid broad-based selling.
All major NSE sectoral indices ended in the red, with Nifty Media, IT, Metal, and Pharma indices dropping 3-4%.
Foreign portfolio investors (FPIs) have been net sellers of Indian equities since October, pulling out nearly ₹2.5 lakh crore. In January alone, they offloaded over ₹69,000 crore as of January 24. This selling is attributed to currency depreciation, rising crude oil prices, and the US Fed's stance on interest rates. FPIs are favoring US Treasury bonds, which offer a risk-free return of 5.5-6%, over Indian equities.
Nifty 50 | (1.14%) | 22,829.15 |
BSE Sensex | (1.08%) | 75,366.17 |
Nifty Bank | (0.63%) | 48,064.65 |
Nifty IT | (3.36%) | 42,060.70 |
Nifty Vix | 8.29% | 18.13 |
10 yr Bond | 1.07% | 6.792 |
USD>INR | 0.14% | 86.324 |
Source: Moneycontrol
DAM Capital Advisors +2.88%
DAM Capital Advisors Limited's shares jumped over 12% on January 27, hitting an intraday high of ₹314.75.
The rally followed the company’s announcement of a 144% year-on-year increase in net profit to ₹51.5 crore for the quarter ending December 31, 2024. Despite a broader market downturn, DAM Capital's stock defied the trend and outperformed.
CDSL (10.49%)
CDSL's shares plunged 9.5%, hitting a three-month low of ₹1,358.35 on January 27, after reporting weaker-than-expected Q3 earnings.
The December quarter saw the lowest addition of new demat accounts since Q4 FY24. The underperformance also weighed on other capital market stocks, including 360 One WAM and Angel One.
Curefoods is in talks with bankers for a ₹2,586-3,448 crore ($300-400Mn) IPO. (Inc42)
This week’s mainboard IPO schedule
Dr Agarwals Healthcare
Offering Period: 29 January - 31 January, 2025
Listing Date: 05 February, 2025
Issue Price: 382-402
Lot Size: 35
M&A / Investments
Meesho raises ₹4,741 crore ($550Mn) from Tiger Global, Peak XV, others. (FE)
UltraTech in advanced talks to acquire HeidelbergCement for ₹3,381 crore ($392MN). (BS)
Slice Bank seeks ₹2,586 crore ($300Mn) in funding. (TIA)
Kedaara Capital invests ₹1,293 crore ($150Mn) in Juspay. (TA)
360 One WAM is set to acquire brokerage house B-K Securities for ₹1,884 crore ($218Mn). (BS)
InsuranceDekho plans to raise up to ₹862 crore ($100Mn). (EN)
PB Fintech aims for a 25% stake in PB Healthcare for ₹860 crore ($99.75Mn). (ET)
InvAscent invests ₹110 crore ($12Mn) in eldercare services provider Geri Care. (YS)
Astrome, a deeptech startup, raised ₹8.6 ($10Mn) led by Apollo Fund. (YS)
MapmyIndia acquires a 9.35% stake in AI startup SimDaaS for ₹3 crore ($347k). (YS)
Raise Financials acquires Filter Coffee. (EN)
Shadowfax has acquired logistics firm CriticaLog. (YS)
VC
