The year of startup IPOs

It began with Zomato and CarTrade. Soon, Paytm, Nykaa, Mobikwik, Tracxn, Delhivery, and PB Fintech (which runs Policybazaar) joined the queue, filing their draft DRHPs – the last step in the direction of tapping the primary market with their IPOs.

The IPO market is so hot right now that RBI has taken note, saying in its latest bulletin that "the year 2021 could well turn out to be the year of IPOs for the country".

More and more Indian startups are filing for an IPO, and their timing seems just right — from the standpoint of the investment climate and investor sentiments in India.

The enthusiasm of IPO bidders is apparent. Many IPOs have been oversubscribed, some getting subscribed over 100 times the offer. The words ‘loss-making’ are no more a deterrent for primary market aspirants as showcased by serial loss-making foodtech unicorn Zomato, which debuted on the bourses with a market capitalisation of Rs 1 lakh crore (and counting upwards).

And, 2021 seems on track to repeat 2017 — the best IPO year ever when Rs 67,147 crore were raised over 12 months through 36 issues.

The eight months of 2021 have seen the same number of issues, but a total of Rs 60,588 crore was raised until August. But with several IPO aspirants from the burgeoning startup universe joining the queue, experts believe that the total number may top the 100-mark in 2021.

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The Interview

In this episode of C-Suite, Sulajja Firodia Motwani, Vice-Chair of Kinetic Green Energy and Power Solutions, talks about how technology, frugal engineering, and a proactive policy framework are crucial for India’s electric vehicle industry.

Editor’s Pick: India’s longest racetrack in Andhra Pradesh

Aviator, entrepreneur, professional car racer, supercar enthusiast, and DJ Shana Parmeshwar comes across as a compulsive and passionate doer of things. 

Soon, along with her partner Anush Chakravarthi, she will hold the distinction of giving India its longest racetrack of 5.5 km, coming up in the Anantapur district of Andhra Pradesh.

The entrepreneur talks to HerStory about the different facets of her life, from being a pilot, motorcar racer, to an entrepreneur. Read more.

Startup Spotlight

Edtech startup BitClass’ live cohort-based courses 

While the first wave of edtech hinged on the B2C side, the next one is expected to see companies building the B2B infrastructure layers to deliver live education. 

BitClass, started in April 2020 by serial entrepreneur Gunjan Kejriwal and his former colleague Utsav Tiwari, is one such startup that empowers teachers, trainers, coaches, etc., with live learning infrastructure. Read more.

News & Updates

• Zoho, the leading Software as a Service (SaaS) company from India, has invested $5 million in Bengaluru-headquartered medical devices startup Voxelgrids for a 25 percent stake.

• CoinSwitch Kuber is in advanced talks to raise a new round of funding at up to $2 billion in valuation, as per a report by TechCrunch. This would make CoinSwitch the second Indian crypto startup to enter the unicorn club after CoinDCX became the first in August 2021.

• US-based crypto trading platform CrossTower announced the launch of its India operations as it looks to make its presence in a growing market. The platform will use Indian rupees and access over 40 cryptocurrencies (tokens).

• Flipkart launched a new initiative, 'Flipkart Boost', to partner with direct-to-consumer (D2C) brands in the country. The initiative will provide end-to-end infrastructure support and other tools to D2C brands, along with an opportunity to seek funding from VC firms.

Before you go, stay inspired with… 

“India tends to underwhelm in the short term, and hopefully, deliver fantastic returns in the long term. Staying invested and focused on quality is going to be important.” 

— Rahul Khanna, Managing Partner, Trifecta Capital

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