Today's Tech Check- "Exicom's Bold Move, Ola Electric IPO Success, The Quick Commerce Fix, Unicommerce IPO, FirstCry IPO Success"
8th August, 2024
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1. “Exicom's Bold Move: Acquiring Tritium to Boost Global Presence in EV Charging Industry”
Indian EV charger maker Exicom acquires Australian Tritium, expanding its global footprint.
Tritium has installed over 13,000 DC chargers in 47 countries.
Acquisition includes Tritium's manufacturing facility in Tennessee, USA, and engineering centre in Brisbane, Australia.
Exicom and Tritium's complementary product portfolios target diverse EV charging use cases worldwide.
BloombergNEF predicts EVs will reach 45% of global passenger vehicle sales by 2030 and 73% by 2040.
Exicom CEO Anant Nahata highlights the acquisition's alignment with the company's vision for a sustainable future in mobility.
#EV#Article#News#sustainable#manufacturing#company#manufacturing
2. “Ola Electric IPO Success: How Matrix Partners Earned 9.2X and Tiger Global Gained 6.5X Returns”
Ola Electric IPO set for Friday, with early investors Tiger Global and Matrix Partners poised to make 6.5X and 9.2X returns, respectively.
Matrix Partners selling 37.27 lakh OFS shares for INR 28.33 Cr, yielding a 9.2X return.
Tiger Global selling 63.61 lakh OFS shares for INR 48.34 Cr, amounting to a 6.5X return.
SoftBank, Alpha Wave Venture, MacRitchie Investments, and Ashna Advisors to make modest returns.
Tekne Private Ventures to gain 32.8%, while Alpine Opportunity Fund faces a 31.8% loss.
IPO subscription falls short of estimates, raising concerns about a discounted listing price.
Despite financial challenges, Ola Electric to debut with heavy cash burn and unclear path to profitability.
#News#B2C
3. “The Quick Commerce Fix: How Rukam Capital's Archana Jahagirdar is Solving the Channel Dilemma for Consumer Brands”
Archana Jahagirdar: Founder and Managing Partner, Rukam Capital
Quick commerce is a solution to consumer companies' channel problems.
Companies' growth depends on channel limitations.
Consumers are not as sensitive to inflationary pressures as feared.
Quick commerce is gaining investor interest and eyes from retailers.
Startups should experiment with quick commerce portals based on their needs, per Wholsum Foods' Shauravi Malik.
Quick commerce has the potential to transform Indian retail, notes Future Group's Kishore Biyani.
#Internet#commerce#Startup#News
4. “Unicommerce IPO Ends on a High Note: 168X Subscription Overwhelm!”
Unicommerce's IPO was oversubscribed 168.3X, with non-institutional investors driving the surge.
NIIs bid for 252.46X the shares offered to them, while QIBs bid for 138.75X and RIIs for 130.9X.
Founded in 2012, Unicommerce is an ecommerce SaaS startup claiming to be the largest in terms of transaction processing revenues (FY23).
#commerce#SaaS#Technology#Retail#Marketplace#News#startup#Software#ecommerce
5. “FirstCry IPO Success: How the Public Went All In with a 12.22X Subscription Rate!”
FirstCry's IPO oversubscribed 12.22X on final day of bidding.
QIBs led the subscription with an oversubscription of 19.30X.
Employees' portion subscribed 6.57X, while NIIs subscribed 4.68X.
Retail investors subscribed it 2.31X.
IPO included a fresh issue worth INR 1,666 Cr and an OFS of up to INR 2,527 Cr.
Price band set at INR 440 to INR 465 per share.
#News#B2C
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