Shiprocket trims IPO size; Cresa’s creative fix for sanitary pad disposal
Shiprocket has reduced the size of its IPO by nearly 31% to Rs 1,617.6 crore, from Rs 2,342 crore. Meanwhile, Cresa makes hot-water-soluble sanitary pads that are 100% biodegradable, plastic-free, and dissolve in 80 seconds.
Hello,
India’s deeptech sector is witnessing a funding surge.
Climate-tech company Mitti Labs has secured $9.5 million in Series A funding led by Aramco Ventures. The startup focuses on reducing methane emissions from rice farming, while helping smallholder farmers earn additional income through carbon credits. It combines satellite imagery, AI, and on-ground operations to monitor farming practices.
Meanwhile, another deeptech firm Solinas Integrity has raised $5.5 million in Series A1 funding led by Hero Enterprise Partner Ventures and Mela Ventures. IIT Madras-incubated Solinas builds robotics and AI systems that inspect, clean, and digitise underground water and wastewater infrastructure, thus solving the problems of water leakage, contamination, and manual scavenging.
There’s more money coming in for companies engaged in science and deeptech.
Mumbai-based investment house Piper Serica has raised Rs 300 crore as the first close of its Rs 800-crore Bharat Tech Fund. The fund will focus on startups across semiconductors, defence, spacetech, robotics, biosciences, and advanced electronics.
From investment to infrastructure…
Indian cities are rapidly evolving into strategic data centre destinations.
According to Knight Frank’s Global Data Centre Atlas 2026, Mumbai ranks 15th globally in total operational data centre capacity, while Hyderabad is at 27th position. The top five positions in operational IT capacity are all occupied by North American hubs: Ashburn, Columbus, Dallas, Phoenix and Atlanta.
Lastly, Swiggy is targeting an adjusted EBITDA of around Rs 10,000 crore by FY31, backed by growth in food delivery and quick commerce businesses.
In today’s newsletter, we will talk about
- Shiprocket’s Rs 1,618-Cr public issue
- Cresa’s creative fix for sanitary pad disposal
Here’s your trivia for today: What is a gricer interested in?
News
Shiprocket trims IPO size, lowers valuation expectations
Temasek-backed ecommerce enablement platform Shiprocket has reduced the size of its initial public offering (IPO) by nearly 31% to Rs 1,617.6 crore, from Rs 2,342 crore, according to its red herring prospectus. The public issue is set to open for subscription on August 12 and close on August 14.
The company has set the price band at Rs 92-97 per share. At the upper end of the price band, the company is seeking a valuation of around Rs 7,057 crore, or $743 million.
Key takeaways
- The Gurugram-based company will now raise Rs 885 crore through a fresh issue of equity shares, down from the Rs 1,100 crore proposed in its updated draft red herring prospectus.
- The offer for sale has also been reduced to Rs 732 crore from Rs 1,242 crore.
- The proceeds from the fresh issue will primarily be used to expand its platform and technology infrastructure, fund sales and marketing initiatives, repay debt, make strategic investments, and support general corporate purposes.
In-focus
Cresa’s creative fix for sanitary pad disposal
Cresa makes hot-water-soluble sanitary pads that are 100% biodegradable, plastic-free, and dissolve in 80 seconds. This plant-based innovation tackles the issues of waste disposal and menstrual stigma, and addresses sanitation workers’ dignity.
Key takeaways
- For many users, pad disposal comes with a burden. Pads have to be wrapped carefully, reflecting the stigma that still surrounds menstruation in many homes and public spaces. Cresa aims to eliminate this dilemma. Used pads dissolve in hot water, removing the need for wrapping, collection, or landfill disposal.
- Every layer, including the absorbent material, is plant-based and starch-derived, unlike conventional sanitary pads, which are almost 90% plastic.
- Cresa’s next product is a fully water-soluble sanitary pad that dissolves in water, eliminating the need for hot water.
News & updates
- Environmental concerns: Work on Google’s data centre in Visakhapatnam hub is in full swing, with a hillside above the site stripped to red earth and terraced into steps, but mounting opposition from environmentalists is creating hurdles for the tech giant's $15-billion project.
- AI hack: Meta is the latest tech firm to say one of its AI models was able to connect to the internet and hack into another organisation’s systems during testing. Similar breaches by OpenAI and Anthropic models have raised cyber-security concerns.
- Leadership rejig: There’s a leadership overhaul at Google parent company Alphabet with AI chief Demis Hassabis leaving his main managerial role. Several leaders of the Gemini model are also departing the company. Hassabis, a Nobel Prize recipient, will take on the role of Alphabet’s chief scientist and transition from being Google DeepMind CEO to being its chairman.
What is a gricer interested in?
Answer: Trains
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