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Tag: IPO (page 1 of 2)

Coursera opens 18% higher in NYSE debut; valuation hit 5 bn mark

Coursera opened 18% above the IPO price in its NYSE debut in the USA on Wednesday valuing the e-learning platform at $5.08 bn. The stock opened at $39, higher than the IPO price of $33 per share. During the latest fundraising round in July 2020, Coursera was valued at $2.57 bn. The US-based firm on Tuesday priced 15.7 mn shares at the upper end of the $30 to $33 range it had announced, raising around $519 mn.

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MobiKwik’s KYC data of 3.5 mn users up for sale on dark web

Independent cybersecurity researchers Rajshekhar Rajaharia has claimed that KYC data of around 3.5 mn users of MobiKwik is up for sale on the Dark Web. French researcher Elliot Alderson, verifying the breach, said that the 8.2TB of data contains users’ phone numbers, emails, hashed passwords, addresses, bank accounts and card details. MobiKwik, which is planning an IPO this year to raise $200-250 mn, denied the breach.

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Payments startup MobiKwik targets Mumbai IPO by Sept

One MobiKwik is planning an IPO before Sept to raise $200– $250 mn, at a valuation of around $ 1 bn. The digital payment startup is planning to process its first draft IPO prospectus by May in Mumbai. The Gurgaon-based firm also plans to have pre-IPO funding round at a valuation of about $700 mn. Founded in 2009, the company has received investment from Sequoia Capital and Bajaj Finance among others.

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China’s Ant Group valuation slips to $200 bn after IPO halt

Ant Group’s global investors, as per news agency Reuters, have valued the China-based fintech giant at over $200 bn. The calculation is based on Alibaba backed company’s 2020 performance. The valuation is 33% above Ant’s 2018 fundraising, but far below the $315 bn, had the company was listed in “the world’s largest IPO”. Investor and experts had hoped for a huge crashed after the authorities scuppered the $37 bn IPO days ahead of listing in Nov.

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Ant Group CEO Simon Hu leaves after failed IPO, increase scrutiny

China’s Ant Group CEO Simon Hu has resigned amid a regulatory-driven overhaul of the fintech business. Hu, CEO of the Alibaba Group company since 2019, will be replaced by Executive Chairman Eric Jing. Hu’s exit is the first key management change since a scuppered $37 bn IPO. He was a key executive responsible for managing the company’s mega dual-listing in Hong Kong and Shanghai.

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Zomato is expected to raise almost $1 bn through its IPO

Zomato, the food-delivery app which is one the most successful Indian tech startups, is expected to raise over $750 mn to $1 bn through its IPO. No investor will likely exit or take money off the table by selling their shares. Deepinder Goyal, co-founder and CEO of Zomato said that the IPO will probably be a 100% primary offering and the company might end up raising more capital, rather than shareholders offloading stock in the open market.

Flipkart changes top management ahead of planned IPO

Flipkart changed top management ahead of IPO planed at end of 2021. Hemant Badri has been appointed as senior VP, Supply Chain Ops while Amitesh Jha, who previously headed supply chains of Flipkart and Myntra will look after category design operations and Marketing, Merchandising & Monetization. Ranjith Boyanapalli, Head of the fintech group, will take up the additional charge of customer experience, marketplace and Liquidation Team.

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Zerodha users face outage as IndiGo Paints IPO opens

Users have faced issues with the Zerodha app as they flocked to the largest retail stockbroker to subscribe to IndiGo Paints IPO. Investors could not place their bids due to the outage and raised the issue on Twitter. According to the CEO, Kamnath, in an interview earlier this week, people were not getting subscriptions and that he believed was the demand for IPOs where oversubscriptions were happening to the tune of 100 times.

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Intel chairman planning up to $1 bn health-tech SPAC IPO

Intel Chairman Omar Ishrak is planning to raise funds for a blank-check firm targeting deals in the health tech sector. Ishrak, who ran medical device firm Medtronic in the past, could file public registration papers with the US Securities and Exchange Commission soon. He is aiming to raise about $750 mn to $1 bn for the special purpose acquisition company or SPAC. Goldman Sachs Group is leading preparations for the IPO.